NV5 Awarded $46 Million in Contracts by Western Utilities to Support Fire Mitigation and Grid Hardening Efforts
NV5 has secured $46 million in contracts to support electrical grid hardening and fire mitigation efforts in the Western United States. The company will provide engineering design, surveying, construction quality assurance, and downed pole monitoring services. The contracts include $38 million for strategic undergrounding of electrical transmission and distribution power lines, and $8 million for grid hardening projects. These initiatives aim to mitigate wildfire risks, reduce accidents, and enhance electrical service reliability.
NV5 ha ottenuto 46 milioni di dollari in contratti per supportare il rafforzamento della rete elettrica e gli sforzi di mitigazione degli incendi negli Stati Uniti occidentali. L'azienda fornirà servizi di progettazione ingegneristica, rilevamento, garanzia di qualità per la costruzione e monitoraggio dei pali caduti. I contratti includono 38 milioni di dollari per la strategica interramento delle linee di trasmissione e distribuzione dell'energia elettrica, e 8 milioni di dollari per progetti di rafforzamento della rete. Queste iniziative mirano a ridurre i rischi di incendi boschivi, diminuire gli incidenti e migliorare l'affidabilità del servizio elettrico.
NV5 ha asegurado 46 millones de dólares en contratos para apoyar el endurecimiento de la red eléctrica y los esfuerzos de mitigación de incendios en el oeste de Estados Unidos. La empresa proporcionará servicios de diseño de ingeniería, topografía, aseguramiento de calidad en la construcción y monitoreo de postes caídos. Los contratos incluyen 38 millones de dólares para la estrategia de soterramiento de líneas de transmisión y distribución de energía eléctrica, y 8 millones de dólares para proyectos de endurecimiento de la red. Estas iniciativas tienen como objetivo mitigar los riesgos de incendios forestales, reducir accidentes y mejorar la confiabilidad del servicio eléctrico.
NV5는 미국 서부의 전력망 강화 및 화재 완화 노력을 지원하기 위해 4,600만 달러의 계약을 확보했습니다. 이 회사는 엔지니어링 설계, 측량, 건설 품질 보증 및 쓰러진 전주 모니터링 서비스를 제공할 것입니다. 계약에는 전력 전송 및 배급 라인의 전략적인 지중화에 대한 3,800만 달러와 전력망 강화 프로젝트에 대한 800만 달러가 포함됩니다. 이러한 이니셔티브는 산불 위험을 완화하고, 사고를 줄이며, 전기 서비스의 신뢰성을 향상시키는 것을 목표로 하고 있습니다.
NV5 a obtenu 46 millions de dollars de contrats pour soutenir le renforcement du réseau électrique et les efforts de lutte contre les incendies dans l'ouest des États-Unis. L'entreprise fournira des services de conception d'ingénierie, d'arpentage, d'assurance qualité en construction et de surveillance des poteaux tombés. Les contrats comprennent 38 millions de dollars pour l'enfouissement stratégique des lignes de transmission et de distribution d'électricité, et 8 millions de dollars pour des projets de renforcement du réseau. Ces initiatives visent à atténuer les risques d'incendie de forêt, à réduire les accidents et à améliorer la fiabilité du service électrique.
NV5 hat 46 Millionen Dollar an Aufträgen gesichert, um die elektrischen Netzverstärkungs- und Brandschutzmaßnahmen im Westen der Vereinigten Staaten zu unterstützen. Das Unternehmen wird Ingenieurdienstleistungen, Vermessung, Qualitätskontrolle im Bau und Überwachung von umgestürzten Masten bereitstellen. Die Verträge umfassen 38 Millionen Dollar für die strategische Verlegung von elektrischen Übertragungs- und Verteilungsleitungen im Erdreich sowie 8 Millionen Dollar für Projekte zur Netzverstärkung. Diese Initiativen zielen darauf ab, Waldbrandrisiken zu verringern, Unfälle zu reduzieren und die Zuverlässigkeit des elektrischen Dienstes zu verbessern.
- Secured significant new contracts worth $46 million
- Demonstrates successful cross-selling across service verticals
- Expanding presence in critical infrastructure modernization projects
- Strategic positioning in growing utility infrastructure market
- None.
Insights
The
The timing is particularly strategic given the increasing focus on grid hardening and the growing demands from data centers and electrification initiatives. NV5's cross-selling capability across different service verticals positions them well to capture more utility infrastructure spending. The contract's focus on wildfire mitigation also aligns with regulatory priorities and utility companies' risk management strategies.
This backlog addition strengthens NV5's revenue visibility and demonstrates their competitive advantage in securing comprehensive infrastructure projects that require multiple service offerings. The contract's size relative to NV5's
HOLLYWOOD, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that it has been awarded
NV5 was awarded
“Electrification initiatives and expansion of energy-intensive infrastructure such as data centers continue to drive increased demand for electricity and fuel investments by utilities to improve the reliability and efficiency of the nation’s aging electrical grid,” said Alex Hockman, PE, CEO of Infrastructure at NV5. "These awards further exemplify NV5’s cross-selling advantage through our service verticals of infrastructure design, construction quality assurance, and traditional and geospatial surveying. We are pleased to assist our utility clients in the modernization of the nation’s electrical infrastructure."
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, 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 & technology, environmental health sciences, and geospatial 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.
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