Jacobs Supports Innovative Nuclear Reactor Developer in France

Rhea-AI Summary

Jacobs (NYSE: J) has been selected to support Naarea, a French start-up developing a new nuclear power reactor, to promote energy security and the circular economy. Naarea's innovative XAMR® micro generator design has the potential to create considerable savings and promote the circular economy, drawing on the latest developments in three key areas of nuclear technology. Jacobs will collaborate with Naarea to deliver safe, clean, and sustainable nuclear energy under a three-year framework, supported by the France 2030 investment plan. This partnership is key for Naarea to accelerate the development of XAMR®.

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• Jacobs has been selected to support Naarea, a French start-up developing a new nuclear power reactor, to promote energy security and the circular economy.
• Naarea's innovative XAMR® micro generator design has the potential to create considerable savings and promote the circular economy, drawing on the latest developments in three key areas of nuclear technology.
• Jacobs will collaborate with Naarea to deliver safe, clean, and sustainable nuclear energy under a three-year framework, supported by the France 2030 investment plan.

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Project advances energy security and the circular economy

DALLAS, Dec. 13, 2023 /PRNewswire/ -- Jacobs (NYSE: J) was selected to support Naarea, a French start-up which is developing a new nuclear power reactor, by assisting with nuclear safety as well as several engineering disciplines including control and instrumentation, mechanical and process.

"Promoting the circular economy by using long-lived radioactive waste, Naarea's reactor would help to reduce dependence on imported fossil fuels and bring a complementary offering to the clean energy mix," said Jacobs Vice President Dawn James. "Under the three-year framework with Naarea, we will work together to progress our joint aim of delivering safe, clean and sustainable nuclear energy to promote energy security and build a more connected and sustainable world."

Naarea was one of the first companies to receive funding support from the France 2030 investment plan, a government initiative which aims to reinvigorate the country's nuclear industry. Its innovative XAMR® micro generator design draws on the latest developments in three key areas of nuclear technology – molten salt cooling systems, fast neutron fission to close the fuel cycle, and small modular reactor construction methods – to produce electricity and heat using spent nuclear fuel. This has the potential to create considerable savings and promote the circular economy.

"Jacobs' track record within the nuclear industry as well as its fast development in France will enable Naarea to collaborate with teams which are both highly experienced and agile. This partnership is key for Naarea in order to accelerate the development of our XAMR®," said NAAREA Founder and CEO Jean-Luc Alexandre.

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 approximately $16 billion in annual revenue and a talent force of approximately 60,000, 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 X.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify 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, our plans to spin off and merge with Amentum our Critical Missions Solutions  business and a portion of our Divergent Solutions business in a proposed transaction that is intended to be tax-free to stockholders for U.S. federal income tax purposes, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act and other legislation related to governmental spending, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, geopolitical events and conflicts, and the impact of any future pandemic or infectious disease outbreak, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see 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 in our most recently filed Annual Report on Form 10-K, 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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SOURCE Jacobs

FAQ

What is the name of the French start-up developing a new nuclear power reactor that Jacobs is supporting?

Jacobs is supporting Naarea, a French start-up developing a new nuclear power reactor.

What is the ticker symbol for Jacobs?

The ticker symbol for Jacobs is J.

What is the XAMR® micro generator design?

The XAMR® micro generator design is an innovative design by Naarea, drawing on the latest developments in three key areas of nuclear technology to produce electricity and heat using spent nuclear fuel.

What is the France 2030 investment plan?

The France 2030 investment plan is a government initiative aiming to reinvigorate the country's nuclear industry and has provided funding support to Naarea.

What is the duration of the framework between Jacobs and Naarea?

The framework between Jacobs and Naarea is for three years.