NV5 Secures $5 Million in Substation Design Contracts, Bolstering Northeast Utility Sector Growth

NV5 Global, Inc. (Nasdaq: NVEE), a leading provider of technology, certification, and consulting solutions, has been awarded $5 million in substation design contracts by Northeast Utilities. This strategic win underscores NV5's growing presence in the Northeast utility sector and its commitment to enhancing electrical grid reliability and resiliency in New York and New Jersey.

The contract awards, announced on February 6, 2025, represent continued growth in NV5's relationship with Northeast electric utilities and support double-digit organic growth in the region. The projects will focus on expanding existing substation capacity and connecting to underground electrical distribution, enabling utilities to accommodate growing energy demands and improve grid reliability.



NV5's engineers will design substation infrastructure to meet the specific needs of the utilities, ensuring optimal performance and efficiency. Following the design phase, NV5 will be well-positioned to enhance the contract with cross-selling of additional services, further boosting the company's revenue and growth in the Northeast utility sector.

The U.S. utility infrastructure market is undergoing a significant transformation, driven by aging infrastructure replacement needs, grid modernization requirements for renewable energy integration, and increased electrification demands. This contract positions NV5 advantageously in the Northeast corridor, where utility spending is projected to grow at 8-10% annually.



NV5's competitive advantages, such as established relationships with Northeast utilities, technical expertise across multiple infrastructure disciplines, and a track record in complex urban infrastructure projects, further strengthen its position in the utility sector. These factors, combined with the company's ability to provide end-to-end solutions, enable NV5 to capture additional opportunities in the utility infrastructure market and drive organic growth.

In conclusion, NV5's $5 million in substation design contracts awarded by Northeast Utilities is a significant contribution to the company's overall revenue and growth strategy in the Northeast utility sector. The projects will enhance electrical grid reliability and support the resiliency of New York and New Jersey utility infrastructure, while positioning NV5 for continued success in the rapidly expanding utility infrastructure sector.