Jacobs Awarded $8 Billion US Department of Energy Contract
Jacobs (NYSE:J) has been awarded the Oak Ridge Reservation Cleanup Contract (ORRCC) as part of a joint venture with Amentum and Honeywell, under the United Cleanup Oak Ridge LLC (UCOR). The U.S. Department of Energy estimates the contract value at $8.3 billion over 10 years. This contract will replace a previous agreement and is expected to support over 2,000 jobs in the region. Jacobs has been involved in the cleanup efforts at Oak Ridge since 2003 and aims to enhance environmental, social, and economic impacts in the area.
- Awarded an $8.3 billion contract from the U.S. Department of Energy, enhancing revenue opportunities.
- Expected to create and preserve over 2,000 jobs in the local area.
- Continues a long-term commitment to environmental cleanup at Oak Ridge since 2003.
- None.
DALLAS, Oct. 28, 2021 /PRNewswire/ -- Jacobs (NYSE:J), as a member of the United Cleanup Oak Ridge LLC (UCOR) joint venture, was awarded the Oak Ridge Reservation Cleanup Contract (ORRCC). UCOR, formed by Amentum, Jacobs and Honeywell, will support the U.S. Department of Energy's (DOE) mission by performing environmental clean-up at the Oak Ridge Reservation (ORR), which includes the Y-12 National Security Complex (Y-12), Oak Ridge National Laboratory (ORNL) and the East Tennessee Technology Park (ETTP).
The DOE estimates the contract value at
"Jacobs has supported the DOE's Office of Environmental Management's (EM) mission at Oak Ridge since 2003 to support the clean-up of the ORR and our commitment to creating and preserving more than 2,000 high-quality jobs in the area," said Jacobs Energy, Security and Technology Senior Vice President Karen Wiemelt. "This award demonstrates how we live our values by delivering sustainable solutions that generate a positive environmental, social and economic impact in the communities where we live and work."
UCOR will deliver the ORRCC under DOE's End-State Contracting Model. UCOR's team includes four pre-selected small businesses, RSI EnTech, Strata-G, Longenecker & Associates and Environmental Alternatives, Inc. The single award indefinite delivery/indefinite quantity contract allows DOE, UCOR and project stakeholders to collaborate to define the end states necessary to accelerate work at ORR.
UCOR will be responsible for cleanup and remedial actions at ETTP; cleanup of excess facilities at ORNL and Y-12; design, construction and operation of the new onsite disposal facility, Environmental Management Disposal Facility; operational activities and surveillance and maintenance for multiple EM operational and non-operational facilities; and core functions for central and project services.
At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended October 2, 2020, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended July 2, 2021, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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