NV5 Awarded $3 Million in Geospatial Contracts to Support Water Conservation
May 28 2020 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of professional and technical
engineering, geospatial, and consulting solutions, announced today
that Quantum Spatial, Inc. (“Quantum Spatial”), an NV5
company, has been awarded two contracts totaling $3 million by NASA
and the California Department of Water Resources (DWR) to provide
remote sensing services in support of water conservation efforts in
the Western United States.
Quantum Spatial was selected to evaluate high-accuracy lidar and
hyperspectral imaging in Colorado and Idaho for the NASA SnowEx
2020 campaign, which is analyzing technologies for measuring
snowpack and corresponding snow water equivalency (SWE) in a
variety of ecosystems. The SnowEx 2020 campaign is a research
effort funded by the NASA Goddard Space Flight Center in
partnership with Boise State University.
Quantum Spatial was also awarded a contract expansion by the
California DWR to provide additional remote sensing and analytics
services to support the conservation of water resources across the
state. Since 2017, Quantum Spatial has worked with the
California DWR's Water Use and Efficiency Branch for statewide data
collection that will help more than 400 water districts in the
state assess water usage and ultimately assist future conservation
efforts.
“We are pleased with the performance of Quantum Spatial as it
continues to secure new contracts and deliver innovative approaches
to extract the power of geospatial data for clients in the public
and quasi-public sectors,” said Dickerson Wright, PE, Chairman and
CEO of NV5. “Water management is an important global issue,
particularly in the Western United States, and we are proud to
contribute to water conservation and intelligent water use
efforts.”
“Quantum Spatial's pioneering work in deploying state-of-the-art
remote sensing tools and leveraging advanced analytics to gain
insight from the data collected makes us ideally suited for both
the NASA SnowEx and DWR projects,” said Mark Abatto, President and
COO of NV5 Geospatial Solutions. About
NV5NV5 Global, Inc. (NASDAQ: NVEE) is a provider of
professional and technical engineering, geospatial, and consulting
solutions ranked #27 in the Engineering News-Record Top 500 Design
Firms list. NV5 serves public and private sector clients in the
infrastructure, energy, construction, real estate, and
environmental markets. NV5 primarily focuses on five business
verticals: construction quality assurance, infrastructure
engineering and support services, utility services, program
management, and environmental solutions, and delivers geospatial
services through its subsidiary Quantum Spatial, Inc., the largest
full-service geospatial solutions provider in North America. The
Company operates out of more than 100 locations worldwide. 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
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
From Aug 2024 to Sep 2024
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
From Sep 2023 to Sep 2024