NOAA Awards Recent NV5 Acquisition Quantum Spatial $18.8 Million Shoreline Mapping Contract
HOLLYWOOD, Fla., Jan. 20, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that Quantum Spatial, Inc. (“Quantum Spatial”), an NV5 company, has been selected as prime contractor under the National Oceanic and Atmospheric Administration’s (NOAA) Shoreline Mapping contract. The $18.8 million contract to perform shoreline mapping services includes the collection and processing of topographic and bathymetric LiDAR data and aerial imagery and covers the North Carolina Coast, the Florida Panhandle, Guam, and portions of the Commonwealth of the Northern Mariana Islands.
As program manager, Quantum Spatial will be responsible for data acquisition, data processing, quality control, and data analytics. The data acquired under this contract will be used by NOAA’s National Geodetic Survey Remote Sensing Division’s Coastal Mapping Program to update NOAA Nautical Charts following 2018 storm events, including Hurricane Florence, Hurricane Michael, and Typhoon Yutu.
“The topobathy LiDAR data collected under this project will be critical to understanding coastal changes caused by Typhoon Yutu and Hurricanes Michael and Florence, and will ensure safe navigation by updating shorelines and near-shore features of nautical charts as well as supporting inundation modeling and mapping,” said Mike Aslaksen, Chief of the Remote Sensing Division of NOAA’s National Geodetic Survey. “The data will also be available to the public via NOAA-hosted web access portals, once it is processed.”
“Quantum Spatial’s advancements in data collection and proprietary algorithms and software continue to expand what is possible in the field of geospatial data analytics,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Developments in fields such as topobathy LiDAR build upon Quantum Spatial’s reputation as the nation’s leading geospatial data firm and positions us well for these key contracts.”
"Quantum Spatial will be deploying the most advanced topobathymetric LiDAR sensors available for this program. We are honored to be leading a project which will provide critical information to enhance public safety, coastal intelligence, and resiliency in areas affected by these hurricanes,” said Russ Faux, Senior Vice President at Quantum Spatial.
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 in the Engineering News-Record Top 500 Design Firms list. NV5 serves 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 out of more than 100 locations worldwide. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
About Quantum Spatial
Quantum Spatial, Inc., an NV5 company, is the nation's largest independent geospatial data firm, providing geographic insights to the largest government and corporate organizations that require geospatial intelligence to mitigate risk, plan for growth, better manage resources, and advance scientific understanding. A pioneer in advanced mapping technology, Quantum Spatial’s end-to-end solutions and services deliver the industry's highest data quality and accuracy, while leveraging the widest array of technologies for analyzing all types of terrains. Customers use the Company's acquisition, processing, analytics, and visualization solutions in a range of technical and scientific disciplines, including geology and biology, hydrology, forestry, and civil engineering. Utilities, oil and gas producers, engineering and construction firms, as well as the military and major government agencies, are Quantum Spatial customers. Quantum Spatial has multiple offices around the country.
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 news release. 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.