Leading Northeast Utility Selects NV5 for $16 Million LNG Infrastructure Upgrade

HOLLYWOOD, Fla., Aug. 03, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, engineering, and environmental consulting solutions, announced today that it has been selected for a $16 million contract to upgrade liquefaction infrastructure at a Northeast utility’s liquefied natural gas (LNG) facility. NV5 will provide engineering and procurement services for the upgraded facility. Liquefaction conversion provides utilities the ability to store large quantities of natural gas in a liquefied state. This liquefied natural gas can then be vaporized and used to supplement gas supplies during peak demand periods improving both the reliability and overall economics of the gas supply.

NV5 was previously awarded the engineering design and liquefaction procurement services for this multi-phase project, which is expected to be completed in July of 2022.

“Utility support continues to be one of NV5’s fastest growing verticals due to the increasing demand for reliable, safe, and efficient power and the specialized nature of utility engineering,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Our utility-specific expertise and suite of technologies provides a unique value to our clients and a competitive advantage when pursuing the growing number of electric and gas infrastructure projects.”

“The demand for modernization and expansion of LNG facilities continues to be strong, and we are pleased to contribute to the safe and reliable delivery of energy to our clients’ customers,” said Peter Dirksen, PE, President of NV5 LNG Services.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of compliance, technology, engineering, and environmental consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: 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