NV5 Awarded $7 Million Wastewater Recycling Project

Rhea-AI Summary

NV5 Global, Inc. (NASDAQ: NVEE) has secured a $7 million contract from the City of Oceanside, California, for consulting services related to a wastewater reclamation and recycling project. This initiative aims to decommission the La Salina Water Treatment Plant and enhance water conservation through recycled water production. NV5's responsibilities include program management, inspections, and environmental compliance over a three-year timeline, concluding in December 2025. This project highlights NV5's commitment to sustainable infrastructure and its long-standing relationship with Oceanside.

Positive

• Secured a $7 million contract for a wastewater reclamation project.
• Project emphasizes sustainable infrastructure and water conservation.
• Established 14-year relationship with the City of Oceanside.

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• None.

HOLLYWOOD, Fla., June 29, 2022 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that the City of Oceanside, California has selected NV5 for an approximately $7 million contract to provide owner consultant services for a wastewater reclamation and recycling project. The project is part of the City’s program to decommission the aging La Salina Water Treatment Plant and convey all wastewater flows to the San Luis Rey Wastewater Reclamation Facility for the production of recycled water to support the City’s innovative indirect potable reuse initiative.

NV5 will provide a wide array of services under the scope of the contract, including program management, inspections, environmental compliance, and geospatial services. The three-year project is expected to be completed in December 2025.

“The importance of water conservation continues to grow as droughts become more frequent and severe, and NV5’s leadership in sustainable infrastructure positions us to contribute to these water infrastructure initiatives,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5 has provided engineering and support services to the City of Oceanside for 14 years, and we look forward to continuing our relationship with the City on this essential water conservation project.”

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company’s services include multiple verticals such as testing, inspection & consulting, infrastructure, utility services, buildings & program management, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. 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 LinkedIn, Twitter, Facebook, and Instagram.

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 is the value of the new contract secured by NVEE?

NV5 Global has secured a contract worth $7 million for consulting services.

What project is NVEE involved with in Oceanside, California?

NV5 is engaged in a wastewater reclamation and recycling project.

When is the completion date for the Oceanside project?

The project is expected to be completed in December 2025.

How long has NVEE been working with the City of Oceanside?

NV5 has provided services to the City of Oceanside for 14 years.

What services will NVEE provide under the Oceanside contract?

NV5 will provide program management, inspections, environmental compliance, and geospatial services.