Jacobs to Design Key Safety Feature for ITER Fusion Project

Rhea-AI Summary

Jacobs (NYSE:J) has been awarded a contract to design and implement the First Plasma Radiological Environmental Monitoring System (REMS) for ITER, the world's largest fusion energy project. This contract, worth $4.2 million (€3.5 million), ensures safety against ionizing radiation during ITER's operations. Additionally, Jacobs has been reselected as the principal supplier for instrumentation and control systems, with a potential contract value of $10.6 million (€9 million) over seven years. Jacobs aims to leverage its technical expertise for this complex project.

Positive

• Secured a contract worth $4.2 million for designing the REMS for ITER.
• Reselected as the principal supplier for instrumentation and control, with a potential value of $10.6 million.

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• None.

DALLAS, Aug. 10, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was selected to design and deliver the First Plasma Radiological Environmental Monitoring System (REMS), a key safety system for ITER, the world's largest fusion energy experiment.

The First Plasma REMS, which protects workers and the environment against ionizing radiation by monitoring radiological activity, is needed for the milestone moment when ITER starts operations.

Fusion for Energy (F4E), the organization responsible for the European Union's contribution to ITER, amounting to nearly half of the project, estimates the contract for final design, procurement, installation and commissioning at $4.2 million (€3.5 million).

F4E has also reselected Jacobs as its principal supplier of instrumentation and control systems support under a new framework contract covering ITER's upcoming nuclear safety needs over the next seven years. Jacobs will prepare technical specifications and support F4E to oversee project delivery and acceptance of systems. F4E estimates the maximum value of the contract at $10.6 million (€9 million). Jacobs is already carrying out this work as the incumbent on a previous framework.

"We will leverage Jacobs' leading edge technical and project integration capabilities to deliver this technically complex project," said Jacobs Energy, Security and Technology Senior Vice President Karen Wiemelt. "We aim to bring together the best equipment suppliers from across Europe with Jacobs, to deliver a robust integrated system to support ITER's first plasma Radiological Monitoring System, and to lay the foundation for subsequent phases of work to support future fusion power operations."

Jacobs previously delivered the REMS preliminary design under a separate contract. The new project will be carried out at the ITER site and at Jacobs' offices across Europe.

ITER, an international experiment involving 35 countries, is seeking to prove the viability of fusion energy by building the world's largest fusion device at St-Paul-lès-Durance, France, and demonstrating that it can produce more energy than is needed to power its plasma. Additional REMS equipment will be required for subsequent operations.

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 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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SOURCE Jacobs

FAQ

What is Jacobs' recent contract value with ITER?

Jacobs has secured a contract worth $4.2 million for the First Plasma REMS.

How long is Jacobs' contract to support ITER's nuclear safety needs?

Jacobs' new contract for instrumentation and control systems is estimated to last for seven years.

What is the primary purpose of the REMS designed by Jacobs?

The REMS is designed to protect workers and the environment from ionizing radiation during ITER's operations.

What is the estimated maximum value of Jacobs' instrumentation contract?

The estimated maximum value of the instrumentation contract is $10.6 million.

When did Jacobs announce their new contract for the ITER project?

Jacobs announced the contract on August 10, 2021.