SOURCE: NV5 Holdings, Inc.

NV5 Holdings, Inc.

June 01, 2015 14:22 ET

UPDATE - NV5 Plays Key Role in Historic Poseidon Desalination Plant Construction

HOLLYWOOD, FL--(Marketwired - Jun 1, 2015) - NV5 Holdings, Inc. (the "Company") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has completed the design and construction support services required to provide power to the Poseidon Desalination Plant in Carlsbad, CA. NV5 worked with a prominent Southern California utility company on underground trenching, structural designs to support above-ground conduits, and a special above-ground vault system design that enabled four 12kV distribution circuits to feed the Plant. A unique approach was proposed by NV5 to support fiberglass conduits via engineered steel supports down an abandoned pit from the decommissioned Encina Storage Facility. The Poseidon Desalination Plant project won three major awards in recent weeks, including a 2014 Honor Award from the American Public Works Association (APWA), the 2014 Outstanding Energy Project Award from the American Society of Civil Engineers (ASCE), and a 2014 Honorable Mention for Public Works from the Construction Management Association of America (CMAA).

"NV5's use of cutting-edge technology, such as a 3D high definition scanner and advanced 3D modeling software, along with unique and creative design approaches, were key to the successful completion of this project," said Doug Taft, Power Group Director at NV5. "These tools allowed us to overcome complex physical obstacles and ensure the design was constructible and electrically efficient."

"Our work on projects like the Poseidon Desalination Plant exemplifies the ability of technically adept and innovative infrastructure engineers to facilitate the provision of public goods and to help solve the severe natural resource problems facing California and other states," said Carmen Kasner, PE, Regional Chief Executive of Southern California at NV5.

About the Poseidon Desalination Plant
The Poseidon Desalination Plant is the largest desalination plant in the Western Hemisphere and will provide 50 million gallons of desalinated seawater per day to 300,000 San Diegans. Construction of the project, which will account for roughly $560 million in local spending, is estimated to be completed by the end of 2016. The Poseidon Desalination Plant has been called a "historic engineering marvel" by San Jose Mercury News and has recently become a focal point of national debates about water conservation and drought.

About NV5
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, engineering and support services, energy, program management, and environmental solutions. The Company operates 36 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.

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 press release and on the conference call. 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.

Contact Information

  • Contact
    NV5 Holdings, Inc.
    Lauren Wright, Ph.D.
    Director of Investor Relations
    Tel: +1-408-392-7233
    Email: ir@nv5.com