NV5 Awarded $14 Million to Advance Global AI-Driven Data Center Infrastructure; Exceeds a Gigawatt of Data Center Design and Modeling in 2024

Rhea-AI Summary

NV5 Global has secured $14 million in contracts for global data center infrastructure development. The company will focus on enhancing scalability and efficiency in both new construction and retrofitting existing data centers to handle AI-driven workload demands. NV5 has exceeded one gigawatt in data center MEP design and CFD analysis globally through September 2024. Through their services, NV5 has helped clients unlock approximately 300MW of additional computing capacity in 2024, equivalent to powering 100,000 homes.

Positive

• Secured $14 million in new data center infrastructure contracts
• Achieved over 1 GW in data center design and modeling capacity
• Unlocked 300MW of additional computing capacity for clients

Negative

• None.

HOLLYWOOD, Fla., Nov. 05, 2024 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, certification, and consulting solutions, announced today that it has been awarded $14 million in recent contracts to support the global development of data center infrastructure. Under the scope of these awards, NV5 will support the scalability and efficiency of new construction and the retrofitting of existing data centers in response to the heightened electrical and cooling pressures of AI-driven workloads.

NV5 also announced that it has surpassed a gigawatt (GW) in data center mechanical, electrical, and plumbing (MEP) design and computational fluid dynamics (CFD) analysis globally through September of this year. MEP design and CFD analysis work in concert to deliver optimal cooling performance, thermal dynamics, and energy efficiency for sustainable data center infrastructure.

“The expansion of our data center business continues to accelerate, and we are pleased to contribute to efficient, sustainable energy use in our clients’ operations,” said Ben Heraud, Chief Executive Officer of NV5. “In 2024, NV5’s GW of AI data center design and modeling has helped our clients unlock approximately 300MW of additional computing capacity, or roughly the amount of energy required to power 100,000 homes.”

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, 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

Source: NV5 Global, Inc.

FAQ

What is the value of NV5's (NVEE) recent data center infrastructure contracts?

NV5 (NVEE) was awarded $14 million in recent contracts to support global data center infrastructure development.

How much data center design capacity did NV5 (NVEE) achieve in 2024?

NV5 (NVEE) exceeded one gigawatt (GW) in data center MEP design and CFD analysis globally through September 2024.

How much additional computing capacity did NV5 (NVEE) help clients unlock in 2024?

NV5 (NVEE) helped clients unlock approximately 300MW of additional computing capacity in 2024, equivalent to powering 100,000 homes.