NV5 Awarded $9 Million in Geospatial Utility Contracts to Support Wildfire Mitigation

Rhea-AI Summary

NV5 (NVEE) has secured $9 million in geospatial utility contracts focused on wildfire mitigation across the United States. The contracts include significant projects with major utility clients:

A Texas utility selected NV5 for vegetation management covering 14,210 line miles of LiDAR data collection and integration of 4,870 miles of existing data. In Northern California, an investor-owned utility expanded NV5's Annual Transmission Vegetation Management contract to assess tree health in high fire-risk areas. Additionally, a Western utility contracted NV5 for geospatial remote sensing data collection to enhance asset and vegetation risk assessments.

The company will utilize its proprietary INSITE cloud-based platform for data management and delivery, implementing advanced remote sensing technologies to improve wildfire prevention and grid reliability.

Positive

• Secured new contracts worth $9 million, expanding revenue stream
• Geographic diversification with multiple utility clients across the US
• Expanded existing contract with Northern California utility, showing client satisfaction
• Leveraging proprietary INSITE platform for service delivery

Negative

• None.

HOLLYWOOD, Fla., March 24, 2025 (GLOBE NEWSWIRE) -- NV5, a provider of tech-enabled engineering, certification, and consulting solutions, announced today that it has been awarded $9 million in recent contracts to support wildfire mitigation and resiliency efforts for major utility clients across the United States. NV5 will acquire updated remote sensing data to produce asset risk assessments, optimize vegetation management, and improve GIS applications to support the safe and reliable delivery of electricity.

“NV5’s advanced geospatial remote sensing technologies are instrumental in mitigating risks to electrical transmission and distribution assets from wildfires and storms” said Ben Heraud, CEO of NV5. “These contracts reinforce our commitment to using remote sensing technology to improve wildfire prevention, enhance grid reliability, and support public safety.”

A prominent Texas utility selected NV5 for a geospatial vegetation management project that includes data collection and data analytics of 14,210 line miles of LiDAR data and integration of an additional 4,870 miles of existing data to support wildfire mitigation. The resulting data will be delivered through INSITE, NV5's proprietary cloud-based geospatial data management platform.

In Northern California, an investor-owned utility expanded NV5’s Annual Transmission Vegetation Management contract to include an assessment of tree health and mortality in high fire-risk areas to support the utility’s wildfire management plan.

NV5 was also awarded a contract to collect updated geospatial remote sensing data to improve asset and vegetation risk assessments for a Western utility, supporting wildfire and storm mitigation strategies.

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 total value of NV5's (NVEE) new wildfire mitigation contracts in 2025?

NV5 secured $9 million in geospatial utility contracts for wildfire mitigation and resiliency efforts across the United States.

How many line miles of LiDAR data will NV5 (NVEE) collect for the Texas utility contract?

NV5 will collect and analyze 14,210 line miles of LiDAR data, plus integrate 4,870 miles of existing data for the Texas utility project.

What technology platform will NV5 (NVEE) use to deliver the geospatial data?

NV5 will deliver the data through INSITE, their proprietary cloud-based geospatial data management platform.

What services will NV5 (NVEE) provide for the Northern California utility contract?

NV5 will assess tree health and mortality in high fire-risk areas as part of an expanded Annual Transmission Vegetation Management contract.