NV5 Global, Inc. (NASDAQ: NVEE) watched its shares open higher Monday. The Hollywood, Fla-based company, a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded a one-year, $7 million contract to provide project oversight, testing, and inspection during the construction of a new 230 kilovolt underground transmission line in Northern California.
“The demand for electricity and the strain on the nation’s electrical grid infrastructure is growing due to electrification initiatives and expansion of high-energy facilities, such as data centers,” said Dickerson Wright, PE, Executive Chairman of NV5. “NV5’s industry-leading expertise in electrical grid reliability is in high demand, and we are well-positioned to drive accelerated organic growth in our utility services business.”
NV5 completed the undergrounding design of the new transmission line earlier in the year and is now delivering construction oversight and support on behalf of the utility during the construction phase. NV5 will collaborate with cable manufacturers and electrical contractors throughout the installation and will provide cable testing and commissioning to ensure the new line is deployed efficiently to meet interconnection and capacity demands.
The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services.
NVEE shares moved ahead $1.24, or 1.3%, to $98.17.