NV5 Expands Data Center Platform in Thailand with 250 MW of Large-Scale Projects and $6 Million Hyperscale Data Center Award

Rhea-AI Summary

NV5 Global (NVEE) has secured over 250 megawatts (MW) of data center projects in Thailand, including a new $6 million commissioning contract for a U.S. technology company's hyperscale data center. The project involves verifying and testing facility systems, focusing on cooling and ventilation infrastructure.

The expansion reinforces NV5's position in Thailand's data center market, which is projected to exceed $50 billion in 2025 as the second-largest digital economy in Southeast Asia. The company's services include technical due diligence, commissioning, and design for large-scale data centers, capitalizing on Thailand's skilled workforce and government investment in digital infrastructure.

Positive

• Secured 250 MW of data center projects in Thailand
• Won $6 million hyperscale data center commissioning contract
• Expanding presence in Thailand's $50 billion digital economy
• Multiple project awards across technical due diligence, commissioning, and design services

Negative

• None.

HOLLYWOOD, Fla., Feb. 27, 2025 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, certification, and consulting solutions, announced today that it has secured over 250 megawatts (MW) of data center projects in Thailand, reinforcing NV5’s position as a key partner in the expansion of large scale data center infrastructure.   NV5 has accelerated its growth in the Thailand data center market with the recent award of a $6 million project to provide commissioning for a U.S. technology company’s hyperscale data center.   NV5’s commissioning services will verify and test the facility’s systems and equipment, including leading edge cooling and ventilation systems.

“Our commitment to reliability and excellence has built long-lasting relationships with clients in Thailand and worldwide, positioning NV5 as a trusted advisor in the global growth of data centers,” said Ben Heraud, Chief Executive Officer of NV5. “As cloud services and AI drive unprecedented demand for high-performance infrastructure, we remain dedicated to delivering innovative testing, inspection, and certification (TIC) and design solutions that enhance operational efficiency, reliability, and sustainability on a global scale.”

As the second-largest digital economy in Southeast Asia, Thailand’s rapid growth is projected to surpass $50 billion in 2025. The country’s skilled workforce and significant government investment in digital infrastructure make it an attractive destination for hyperscalers seeking to expand in the region.

“NV5’s expertise in recurring commissioning and data center design services is pivotal in helping clients establish and scale their data center operations across Thailand. We have been awarded several projects, including technical due diligence, commissioning, and design for large-scale data centers, and we are excited about the growth opportunities in Thailand and the region,” said Gary Hui, Chief Operating Officer, NV5 Mission Critical.

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 support, conformity assessment, buildings & technology, environmental, 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) new hyperscale data center contract in Thailand?

NV5 secured a $6 million contract to provide commissioning services for a U.S. technology company's hyperscale data center in Thailand.

How many megawatts of data center projects has NV5 (NVEE) secured in Thailand?

NV5 has secured over 250 megawatts (MW) of data center projects in Thailand.

What services will NV5 (NVEE) provide for the Thailand hyperscale data center project?

NV5 will provide commissioning services, including verification and testing of facility systems, with focus on cooling and ventilation systems.

What is the projected value of Thailand's digital economy in 2025?

Thailand's digital economy is projected to surpass $50 billion in 2025, as the second-largest digital economy in Southeast Asia.

What types of data center services does NV5 (NVEE) offer in Thailand?

NV5 provides technical due diligence, commissioning, and design services for large-scale data centers in Thailand.