HOLLYWOOD, Fla., May 28, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the "Company" or "NV5") (Nasdaq: NVEE), a provider of professional and technical engineering, geospatial, and consulting solutions, announced today that Quantum Spatial, Inc. ("Quantum Spatial"), an NV5 company, has been awarded two contracts totaling $3 million by NASA and the California Department of Water Resources (DWR) to provide remote sensing services in support of water conservation efforts in the Western United States.
Quantum Spatial was selected to evaluate high-accuracy lidar and hyperspectral imaging in Colorado and Idaho for the NASA SnowEx 2020 campaign, which is analyzing technologies for measuring snowpack and corresponding snow water equivalency (SWE) in a variety of ecosystems. The SnowEx 2020 campaign is a research effort funded by the NASA Goddard Space Flight Center in partnership with Boise State University.
Quantum Spatial was also awarded a contract expansion by the California DWR to provide additional remote sensing and analytics services to support the conservation of water resources across the state. Since 2017, Quantum Spatial has worked with the California DWR's Water Use and Efficiency Branch for statewide data collection that will help more than 400 water districts in the state assess water usage and ultimately assist future conservation efforts.
"We are pleased with the performance of Quantum Spatial as it continues to secure new contracts and deliver innovative approaches to extract the power of geospatial data for clients in the public and quasi-public sectors," said Dickerson Wright, PE, Chairman and CEO of NV5. "Water management is an important global issue, particularly in the Western United States, and we are proud to contribute to water conservation and intelligent water use efforts."
"Quantum Spatial's pioneering work in deploying state-of-the-art remote sensing tools and leveraging advanced analytics to gain insight from the data collected makes us ideally suited for both the NASA SnowEx and DWR projects," said Mark Abatto, President and COO of NV5 Geospatial Solutions. About NV5NV5 Global, Inc. (NVEE) - Get Report is a provider of professional and technical engineering, geospatial, and consulting solutions ranked #27 in the Engineering News-Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate, and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, utility services, program management, and environmental solutions, and delivers geospatial services through its subsidiary Quantum Spatial, Inc., the largest full-service geospatial solutions provider in North America. The Company operates out of more than 100 locations worldwide. 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.
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