NV5 Awarded $7 Million in Critical Infrastructure Contracts by the North Carolina Department of Transportation

Rhea-AI Summary

NV5 Global, Inc. (Nasdaq: NVEE) Awarded $7 Million Contracts by NCDOT for Critical Infrastructure Projects in North Carolina

Positive

• NV5 Global, Inc. secures $7 million contracts from NCDOT, reinforcing its position in critical infrastructure projects
• The contracts include feasibility studies, design evaluations, traffic analyses, and bridge design, preservation, and replacement planning and design
• NV5's commitment to delivering sustainable and efficient solutions to meet North Carolina's transportation needs is highlighted

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• None.

HOLLYWOOD, Fla., Nov. 13, 2023 (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 approximately $7 million in contracts by the North Carolina Department of Transportation (NCDOT) to support critical infrastructure projects throughout the state.

NV5 was awarded a two-year, $4 million contract to provide feasibility and corridor studies, design evaluations, traffic analyses, NEPA/SEPA planning, and public outreach services to support highway infrastructure projects.

NV5 was also awarded a $3 million contract for bridge design, preservation, and replacement planning and design. The two-year project scope includes basic to complex highway structures including bridges, culverts, retaining walls, and utility attachments.

“NV5 is pleased to be selected by NCDOT for these awards to support the safety and reliability of transportation infrastructure,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5’s team of experts is committed to delivering sustainable and efficient solutions to meet the State’s growing transportation needs.”

“Over the past 27 years, NV5 has provided an array of services to the NCDOT,” said Elizabeth Phipps, PE, Southeast Director of Transportation of NV5. “We are proud to continue to leverage our capabilities to make an impact on transportation infrastructure in North Carolina.”

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, construction quality assurance, 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

FAQ

What contracts has NV5 Global, Inc. been awarded by NCDOT?

NV5 Global, Inc. has been awarded a two-year, $4 million contract for feasibility and corridor studies, design evaluations, traffic analyses, NEPA/SEPA planning, and public outreach services, as well as a $3 million contract for bridge design, preservation, and replacement planning and design.

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

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

How long has NV5 Global, Inc. been providing services to NCDOT?

NV5 Global, Inc. has provided services to NCDOT for the past 27 years.

What is the focus of NV5 Global, Inc.'s services to NCDOT?

NV5 Global, Inc.'s services to NCDOT focus on supporting the safety and reliability of transportation infrastructure, including highway structures, bridges, culverts, retaining walls, and utility attachments.