Jacobs Awarded Contract Extension to Support UK's Nuclear Power Plants

Rhea-AI Summary

Jacobs has secured an extension of its Project Management Resources (PMR) contract with EDF Nuclear Generation, enhancing support for the U.K.'s nuclear power plants. This extension, valued at over $44 million, will last from April 2022 to March 2024. Jacobs will continue to manage seven advanced gas-cooled reactor stations and assist in their transition to defueling. The contract extension highlights EDF's trust in Jacobs' capabilities, reflecting a strong record of successful delivery.

Positive

• Contract extension valued at over $44 million.
• Continued support for seven advanced gas-cooled reactor stations.
• Demonstrates EDF's confidence in Jacobs' performance.

Negative

• None.

DALLAS, Oct. 12, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was awarded an extension to its Project Management Resources (PMR) contract with EDF Nuclear Generation, operator of the U.K.'s nuclear power plants. The Jacobs team will continue to support the stations, which account for about 17% of the country's electricity output.

This involves supporting the seven advanced gas-cooled reactor (AGR) stations, including the transition from generation to defueling, and the long-term operation program for the Sizewell B pressurized water reactor. EDF estimates the April 2022 – March 2024 extension at more than $44 million (£32.5 million).

Now in its seventh year, the PMR contract supports work for more than 150 project management specialists. Jacobs is now recruiting for locations across the U.K. and welcomes those with diverse, non-nuclear experience.

"The agreement to extend was made ten months in advance, reflecting EDF's confidence in Jacobs and our record of successful delivery," said Jacobs Energy, Security and Technology Senior Vice President Karen Wiemelt. "We will assist EDF to maximize generation from these vital national assets for the remainder of their operating lives and to transition smoothly toward defueling and decommissioning."

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 $14 billion in revenue and a talent force of approximately 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

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.

For press/media inquiries:
Kerrie Sparks
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SOURCE Jacobs

FAQ

What is the value of Jacobs' contract extension with EDF Nuclear Generation?

The contract extension is valued at over $44 million.

What is the duration of Jacobs' contract extension with EDF?

The contract extension will last from April 2022 to March 2024.

How many reactor stations will Jacobs support under the contract extension?

Jacobs will support seven advanced gas-cooled reactor stations.

What percentage of the U.K.'s electricity output is generated by the stations Jacobs will support?

The stations account for about 17% of the country's electricity output.