NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ:NVEE), a provider of compliance, technology, and engineering solutions, announced today that it has been awarded a $7 million liquefied natural gas (LNG) loading system project by a major Southeast utility. The new truck loading and unloading system will allow the utility to transfer LNG from the existing peak shaving facility to other LNG plants and directly to customers by tanker truck. In addition, the system will have the capability to unload LNG from tankers into the facility's storage tank as a backup to the plant's liquefaction equipment.
NV5 will provide engineering, procurement, and construction (EPC) services for the new truck loading system. Work has already begun on the project, which is expected to be completed in April 2022.
"Modernization of the nation's electrical grid and gas distribution infrastructure continues to drive the growth of our utility services vertical and the demand for our specialized engineering and technical solutions," said Dickerson Wright, PE, Chairman and CEO of NV5. "We are pleased to contribute to the reliability and safety of electric and natural gas services as we progress toward achievement of our ENERGY 2021 initiative."