HOLLYWOOD, Fla., May 30, 2024 (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 $14 million in contract wins by utilities to support asset management and vegetation management of electrical transmission and distribution grid infrastructure.
Increasing demand for electricity without investments in new electrical generation places additional reliability and efficiency requirements on the aging electrical grid. NV5's geospatial data acquisition technologies, predictive analytics, proprietary algorithms, and engineering design methodologies make it uniquely qualified to assess potential hazards and reliability challenges in utility grid assets.
"Electrification initiatives and the expansion of energy-intensive facilities such as data centers have put unprecedented capacity requirements on the nation's electrical grid," said Dickerson Wright, PE, Executive Chairman of NV5. "NV5 scans approximately 100,000 miles of utility transmission and distribution lines each year to assist utilities with meeting the growing demand for electrical service, and the increased ...