TORONTO, Oct. 11, 2022 (GLOBE NEWSWIRE) -- NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), a big data, analytics, and vertical intelligence (“VI”) software and solutions company is announcing today that Allegient Defense, NOW’s US-based subsidiary, is on the winning team for a 36 month, seven-figure direct award in support of the U.S. Department of Energy’s (DOE) technology transfer activities. Under the contract, Allegient will work as a team with the Office of Technology Transitions (OTT) to increase data analysis and visualization capabilities across multiple departments within the DOE.

The OTT serves as the central hub for the technology transfer activities across the DOE’s extensive research and development enterprise. Under the new three-year agreement, Allegient will, in conjunction with its teaming partners at Energetics, LLC and the Fila Group, provide program analysis, management, strategic planning, research, and evaluation across the OTT’s research and development portfolio. Building on its previous relationship with the DOE, Allegiant will utilize its expanded solution set to empower practical analytical tools and information for assessing its program's overall performance and success in meeting its mandates.

“Our work with the DOE is another successful example of how NOW enables transformation at enterprise scale,” said Daren Trousdell, Chairman and CEO of NOW. “Technology transfer is a complex and dynamic process, and NOW is excited to show real results for their analytics investment. By utilizing NOW’s software platform, alongside our teams’ decades of public sector experience, we look forward to providing the DOE and its departments with some of the most advanced analytical capabilities available in the marketplace today.”

About The Office of Technology Transitions

Comprised of 17 national labs and sites, the OTT’s world-class scientific researchers, and an extensive portfolio of intellectual property, it focuses on ensuring ground-breaking scientific discoveries achieve their maximum public return and impact, advancing the economic, energy, and national security interests of the United States.

About NowVertical Group Inc.

NOW is a big data, analytics, and VI software and solutions company growing organically and through acquisition. NOW's VI solutions are organized by industry vertical and are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI solutions that are predictive in nature and drive automation specific to each high-value industry vertical. For more information about the Company, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: [email protected]
t: (212) 302-0868

or

Glen Nelson, Investor Relations
e: [email protected]
t: (403) 763-9797