Benzinga | Jan 25, 2022 08:13AM EST

NV5 Selected By Midwest Utility for $8M Geospatial Vegetation Management Contracts

NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ:NVEE), a provider of compliance, technology, engineering, and environmental consulting solutions, announced today that it has been awarded contracts exceeding $8 million by a Midwest electric utility to acquire lidar data and provide remote sensing analytics across the utility's entire distribution system to mitigate risk of vegetation-related outages.



NV5's lidar and remote sensing analytics solutions identify and map the locations and severity of encroaching vegetation, allowing the utility to optimize its vegetation management plans. NV5's data and analytics will be used to define the utility's 2022 and 2023 forestry management requirements.

"Trees and storms are the leading cause of electrical service interruption, and the use of geospatial data analytics in identifying risks that vegetation poses to utility safety and service reliability is essential," said Dickerson Wright, PE, Chairman and CEO of NV5. "NV5's advanced geospatial solutions help utilities identify vegetation encroachment, forecast operational costs, and mitigate service interruptions while continuing to contribute to safe and reliable electricity delivery for our client's customers."