HOLLYWOOD, FL -- (Marketwired) -- 03/05/15 --
NV5 Holdings, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has been awarded an on-call services contract with Xcel Energy to provide gas pipeline design, surveying, and environmental services over 5 years. NV5's staff in Colorado will be supporting Xcel Energy's Natural Gas Transmission and Distribution Departments in work relating to the construction and maintenance of pipelines, the operation of processes and controls, the inspection of cathodic protection and the implementation of integrity management programs.
"We are glad that Xcel Energy has selected NV5 as an ongoing consultant in the continuing effort to provide natural gas customers in Colorado the very highest quality service possible," said Ernesto Aguilar, PE, COO of Infrastructure at NV5. "Based on the scope of the work, we anticipate assigning up to 15 engineers and surveyors to the project with expected revenues of approximately $2.5 million over the contract's duration."
"Our Colorado offices have been providing Xcel Energy with engineering and surveying services," said Brian Thomasen, PE, Engineering Manager at NV5. "We have completed all projects on time, under budget and with quality. Xcel Energy has recognized this commitment with the award of a 5 year Professional Services Agreement to NV5," he added.
About Xcel Energy
Xcel Energy (NYSE: XEL) is a leading U.S. electricity and natural gas energy company headquartered in Minneapolis, Minnesota with annual revenues of $10.9 billion. Xcel's 12,501 employees provide a variety of products and services to 3.5 million electricity customers and 1.9 million natural gas customers in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Xcel Energy's combined electricity and natural gas operations include 89,865 miles of transmission lines and pipelines and 226,986 miles of distribution lines and pipelines. Xcel Energy is committed to the provision of reliable and safe energy to its customers at a higher value and its role as a responsible environmental leader.
NV5 Holdings, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions to 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, energy, program management and environmental solutions. The Company operates 29 offices in California, Colorado, Florida, Massachusetts, New Jersey, Ohio, Pennsylvania, Utah and Wyoming and is headquartered in Hollywood, Florida. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
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 herein. Such factors include, but are not limited to: (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.
NV5 Holdings, Inc.
Source: NV5 Holdings, Inc.