NV5 Awarded $2 Million Building Technology Contract to Support Wake Forest University in Charlotte, NC

Rhea-AI Summary

NV5 Global, Inc. (Nasdaq: NVEE) has secured a $2 million contract for design services related to audiovisual systems and building security in a new innovation district in North Carolina. This three-year project involves facilities including a 358,000 sq. ft. education center and a 335,000 sq. ft. research building. Chairman and CEO Dickerson Wright emphasized NV5's two-decade leadership in building technology for educational institutions, aiming to enhance safety and technology integration.

Positive

• Awarded a $2 million contract for design services in a new innovation district.
• Project involves significant facilities, including educational and research buildings.

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• None.

HOLLYWOOD, Fla., Dec. 07, 2022 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded a $2 million contract to provide design services for audiovisual systems, IT and telecommunication equipment, acoustics, and building security systems for facilities within a new innovation district in North Carolina. The district will be a mixed-use development comprised of retail, hospitality, research, and educational facilities, including the Wake Forest University School of Medicine and the School of Business Professional Studies Program. This three-year contract covers the initial phase of the innovation district development, which includes a 358,000 square foot center for education, a 335,000 square foot research building, and two parking garages.

“Facility owners continue to harness advancements in technology to improve occupant customer experience and provide a safe and secure environment for the people and businesses that they serve,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5 has been a leader in building technology for colleges and universities for over two decades, and we are pleased to have been selected to contribute to the design of these high technology educational facilities.”

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: utility services, infrastructure engineering, testing, inspection & consulting, buildings & owner representation, environmental health sciences, and geospatial technology services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.

Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

Source: NV5 Global, Inc.

FAQ

What is the amount of the contract awarded to NV5 Global, Inc.?

NV5 Global, Inc. was awarded a $2 million contract.

What type of services is NV5 providing in the North Carolina contract?

NV5 is providing design services for audiovisual systems, IT and telecommunication equipment, acoustics, and building security systems.

What facilities are included in the new innovation district project by NV5?

The project includes a 358,000 sq. ft. education center and a 335,000 sq. ft. research building.

How long is the contract for NV5's work in North Carolina?

The contract spans three years.

Who is the Chairman and CEO of NV5 Global, Inc.?

The Chairman and CEO of NV5 Global, Inc. is Dickerson Wright.