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Benzinga

Business

Akanksha Bakshi

Midwest Utility Picks NV5 For $8M Geospatial Vegetation Management Contracts

NV5 Midwest NVEE

NV5 Global Inc (NASDAQ:NVEE) has received contracts exceeding $8 million from a Midwest electric utility to acquire lidar data and provide remote sensing analytics to mitigate the 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.
Price Action: NVEE shares traded lower by 3.66% at $104.37 on the last check Tuesday.

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