Fluor Signs MOU with Longview Fusion Energy Systems to Support Innovative Laser Fusion Power Commercialization

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has entered into a memorandum of understanding (MOU) with Longview Fusion Energy Systems, Inc. to partner in the design and planning of laser fusion energy plants. These plants are expected to generate carbon-free energy, with capacities ranging from 1,000 to 1,600 MW, sufficient to power small cities or provide industrial process heat. Fluor aims to leverage its extensive experience in building large-scale facilities to support Longview's fusion technology, which is based on a recent breakthrough at the National Ignition Facility. This partnership highlights Fluor's commitment to sustainable energy solutions and aims to meet the increasing global demand for clean energy.

Positive

• Partnership with Longview Fusion Energy to develop cutting-edge laser fusion energy technology.
• Potential for power plants generating 1,000-1,600 MW of carbon-free energy, addressing global clean energy needs.
• Leveraging Fluor's extensive experience in large-scale facility construction to support innovation.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that it has signed a memorandum of understanding (MOU) with Longview Fusion Energy Systems, Inc. to serve as its engineering and construction partner in designing and planning laser fusion energy for the global energy market.

At full capacity, Longview’s laser fusion power plants (1,000–1,600MW) are slated to provide carbon-free, safe, economical and sustainable energy that can power the needs of a small city or provide process heat or power to drive industrial production of the materials needed for operational necessities like steel, fertilizer and hydrogen fuel.

“Fluor is a leader in designing and building solutions to create a sustainable future and our partnership with Longview Fusion Energy Systems builds upon that experience,” said Tom D’Agostino, group president of Fluor’s Mission Solutions business. “From developing and constructing large-scale energy facilities to designing, building and operating complex chemical processing and innovative industrial projects, our expertise helps clients reduce greenhouse gas emissions, improve energy efficiency and deliver cleaner, decarbonized projects. We look forward to working with Longview on the mission to demonstrate the feasibility of laser fusion technology and deliver it to the commercial market.”

Under the MOU, Fluor will leverage its global experience in developing and constructing complex, large-scale facilities to provide preliminary design and engineering to support the development of Longview’s fusion-powered plant.

“The Longview power plant design is based on the recent breakthrough at the National Ignition Facility showing the world’s only experimental demonstration of fusion with energy gain,” said Ed Moses, chief executive officer of Longview Fusion Energy Systems. “This will combine modern, efficient lasers and a patented design to replicate these conditions several hundred times a minute – similar to the repetitive pulses in a car engine but delivering over one million horsepower.”

Following Longview’s accelerated plans to complete design and engineering, this revolutionary energy source will play a significant role in meeting the world’s growing need for clean energy.

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 259 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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Brett Turner

Media Relations

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Jason Landkamer

Investor Relations

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Source: Fluor Corporation

FAQ

What is the recent partnership announced by Fluor Corporation?

Fluor Corporation has signed a memorandum of understanding with Longview Fusion Energy Systems to collaborate on laser fusion energy technology.

What is the capacity of the laser fusion power plants being planned?

The planned laser fusion power plants are expected to have capacities between 1,000 and 1,600 MW.

How does Fluor plan to contribute to the Longview Fusion Energy project?

Fluor will provide preliminary design and engineering support leveraging its experience in developing large-scale energy facilities.

What type of energy will the laser fusion plants produce?

The laser fusion plants are expected to produce carbon-free energy.