Jacobs Supports Winners in UK Government Competition for Nuclear Reactor Research Funding

Rhea-AI Summary

Jacobs (NYSE:J) has secured contracts to support U-Battery Developments Ltd and Westinghouse Electric Company U.K. in developing new nuclear power reactors, backed by £40 million in U.K. government funding. The contracts will facilitate advanced manufacturing qualifications and innovative nuclear technologies, focusing on low-cost electricity generation and hydrogen production. Jacobs will utilize its expertise in reactor technology, conducting vital research and mechanical testing essential for the reactors' performance. The initiative aligns with the U.K.'s goal for a clean energy transition.

Positive

• Jacobs supports U-Battery and Westinghouse in developing advanced nuclear reactors, enhancing its position in the nuclear energy sector.
• U.K. government invests £40 million to promote technological innovation, benefiting Jacobs' contracts.
• Jacobs' nuclear laboratories will conduct essential R&D for advanced manufacturing qualifications, aiding future reactor development.

Negative

• None.

DALLAS, April 21, 2021 /PRNewswire/ -- Jacobs (NYSE:J) is providing cutting-edge technical support for two companies whose work developing new nuclear power reactors has secured U.K. government research funding.

Jacobs' nuclear laboratories in Warrington, U.K. will carry out research and development work into new technologies for advanced manufacturing qualification under contracts with U-Battery Developments Ltd and Westinghouse Electric Company U.K., which have successfully progressed to Phase 2 of a competition run by the U.K. government Department for Business, Energy and Industrial Strategy (BEIS) to promote technological innovation. BEIS is investing $50 million (£40m) to develop designs for Advanced Modular Reactors (AMR) that will generate low-cost electricity by introducing novel cooling techniques and off-site factory fabrication.

"Advanced nuclear technologies can provide low-cost electricity and more cost-effective hydrogen production, both of which will assist the U.K.'s transition to clean energy and a net zero carbon economy," said Jacobs Critical Mission Solutions International Senior Vice President Clive White. "BEIS is to be congratulated for its vision in encouraging innovation in nuclear reactor design, and we look forward to continuing our support for these efforts across a wide spectrum of research into materials performance and qualification, digital design and manufacturing techniques, and structural design codes and standards."

For U-Battery, a modular reactor being developed by Urenco, Jacobs will deploy its considerable expertise in high-temperature, gas-cooled reactor technology to lead concept design work on the reactor and primary systems, control, instrumentation and autonomous operation, as well as providing safety, environmental and human factors analysis and support.

For the Westinghouse lead-cooled fast reactor, Jacobs is carrying out structural materials, corrosion and mechanical testing, which are key technical issues for reactors operating at temperatures above 500°C. Jacobs is also creating new experimental facilities for static corrosion, creep and fatigue testing with exposure to liquid lead at up to 800°C. The aim is to examine the effect on mechanical performance and to identify suitable structural materials for further studies by Westinghouse.

Jacobs will also receive grant funding directly from BEIS to develop innovative, technology-enabled mechanical testing methods so that advanced manufacturing technologies and materials can be accredited for use in future reactor plants. This will advance the state-of-the-art methods by introducing non-contact capture and measurement systems, reducing both the numbers of tests required and the time needed for evaluation, and importantly, in a safer manner.

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 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 September 27, 2019, 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 January 1, 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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SOURCE Jacobs

FAQ

What is the significance of Jacobs' contracts with U-Battery and Westinghouse?

These contracts mark Jacobs' involvement in advancing nuclear reactor technology, supported by £40 million in U.K. government funding.

How much funding is the U.K. government providing for nuclear reactor development?

The U.K. government is investing £40 million to develop designs for Advanced Modular Reactors.

What technologies will Jacobs research under these contracts?

Jacobs will focus on advanced manufacturing qualifications and mechanical testing for new nuclear reactors.

What is Jacobs' role in the development of nuclear reactors?

Jacobs will provide technical support, research, and testing for both U-Battery and Westinghouse's reactor projects.

When was the press release regarding Jacobs' nuclear contracts published?

The press release was published on April 21, 2021.