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NV5 Awarded $5 Million in Substation Design Contracts by Northeast Utilities

1. NV5 secures $5 million in contracts for substation design. 2. Contracts enhance electrical grid reliability for NY and NJ utilities. 3. Strong growth prospects in the Northeast utility sector. 4. Expansion includes engineering design and technical solutions. 5. Industry trends favor utilities investing in infrastructure improvements.

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Why Bullish?

The $5 million contract indicates strong demand for NV5's services, likely driving future growth. Historically, such contract wins have correlated with stock price increases.

How important is it?

The announcement showcases NV5's capacity to secure significant contracts, enhancing investor confidence. Importance is highlighted by ongoing industry needs for infrastructure upgrades.

Why Long Term?

The contract establishes a foundation for sustained revenue growth and long-term client relationships. Previous similar contracts have led to ongoing partnerships and additional projects.

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February 06, 2025 08:00 ET  | Source: NV5 Global, Inc. HOLLYWOOD, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), NV5, a provider of technology, certification, and consulting solutions, announced today that it has been awarded $5 million in substation design contracts by Northeast utilities. These projects will strengthen electrical grid reliability and support the resiliency of New York and New Jersey utility infrastructure. The contract awards continue the expansion of NV5’s relationship with Northeast electric utilities and promotes double-digit organic growth with the Northeast utility sector. NV5’s engineers will design substation infrastructure to expand the capacity of existing substations and connect to underground electrical distribution. Following the design phase of the project, NV5 will be well positioned to enhance the contract with cross-selling of additional services. Utilities throughout the U.S. are investing in substation and other electrical distribution infrastructure improvements to accommodate additional energy demands related to electrification initiatives and population growth. "NV5 has expanded its utility design capacity along the East Coast to provide a wide array of technical solutions including planning, engineering design, surveying, geospatial, and owner representation,” said Ben Heraud, CEO of NV5. “These awards underscore NV5’s reputation as a leader in utility infrastructure engineering and consulting solutions to meet the nation’s growing demand for safe and reliable energy." About NV5NV5 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 services, 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 StatementsThis 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 ContactNV5 Global, Inc. Jack CochranVice President, Marketing & Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com Source: NV5 Global, Inc.

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