Fluor Awarded FEED Contract for World’s First Industrial-Scale Sodium-Ion Battery Production Facility

Rhea-AI Summary

Fluor Corporation has been selected by Altris AB to provide front-end engineering and design services for the world's first industrial-scale sodium-ion battery production facility in Sweden. The contract value was recognized in the third quarter of 2023. Altris is a Swedish sodium-ion battery maker that develops cathodes, electrolytes, battery cells, and the industrialization process for these products. Sodium-ion batteries are safe and easy to recycle. The project will be managed from Fluor's England office, with completion scheduled for early 2024.

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• Fluor Corporation has been selected to provide front-end engineering and design services for the world's first industrial-scale sodium-ion battery production facility. This contract could positively impact Fluor's stock price as it demonstrates their expertise in advanced technologies and positions them at the forefront of battery evolution and the energy transition journey.

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• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that its Advanced Technologies & Life Sciences business line has been selected by Altris AB to provide front-end engineering and design (FEED) services for the world’s first industrial-scale sodium-ion battery production facility in Sandviken, Sweden. Fluor recognized the undisclosed contract value in the third quarter of 2023.

“This is a major step forward in battery evolution and the energy transition journey,” said Richard Meserole, president of Fluor’s Advanced Technologies & Life Sciences business line. “We are thrilled that Altris turned to Fluor to help them bring this cutting-edge technology to market that will transform manufacturing to be safer and more sustainable. It is always rewarding when we can help our clients take ideas from concept to commercialization.”

Altris is a Swedish sodium-ion battery maker that develops cathodes, electrolytes, battery cells and the industrialization process for these products. Sodium-ion batteries are inherently safe and easy to recycle because they are mainly comprised of salt, wood, iron and air.

The project will be managed from Fluor’s Farnborough, England office. FEED completion is scheduled for early 2024.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 40,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $13.7 billion in 2022 and is ranked 303 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20231025155591/en/

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Media Relations

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Jason Landkamer

Investor Relations

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Source: Fluor Corporation

FAQ

What is Fluor Corporation's role in the project?

Fluor Corporation has been selected to provide front-end engineering and design services for the sodium-ion battery production facility.

What are the advantages of sodium-ion batteries?

Sodium-ion batteries are safe and easy to recycle, as they are mainly comprised of salt, wood, iron, and air.

When is the completion of the FEED scheduled?

The completion of the front-end engineering and design (FEED) is scheduled for early 2024.