Jacobs to Design Maintenance Systems for World's Largest Fusion Experiment

Rhea-AI Summary

Jacobs (NYSE:J) has been awarded a four-year contract, potentially extendable by two years, to design and engineer maintenance systems for ITER, the world’s largest fusion power project in France. This contract involves work on up to 25 diagnostic ports essential for the ITER experimental machine, leveraging Jacobs' expertise in remote handling and diagnostics. Senior VP Karen Wiemelt emphasized Jacobs' commitment to sustainability and technological innovation in supporting this crucial climate initiative. The ITER project, backed by over 30 nations, aims to achieve a self-sustaining fusion reaction, contributing to the development of emission-free energy sources.

Positive

• Awarded a four-year contract with a possible two-year extension.
• Contract focuses on critical diagnostic systems for the ITER fusion project.
• Utilizes Jacobs' extensive experience in remote handling and diagnostics.

Negative

• None.

Contract leverages previous remote handling and diagnostic experience
Project to utilize new technology to aid energy transition

DALLAS, April 25, 2023 /PRNewswire/ -- Jacobs (NYSE:J) was selected to design and engineer remotely-operated tools for ITER, the world's largest fusion power project.

A four-year framework with a possible two-year extension, the contract covers work on up to 25 diagnostic ports and systems that are critical for operating and sustaining the ITER experimental machine now being built in Provence, France.

The project will capitalize on extensive remote-handling experience and knowledge of the diagnostics and port cell areas gained from previous work.

"Our support of the maintenance of these diagnostics systems not only delivers on Jacobs' commitment to climate response but also our purpose of creating a more connected, sustainable world," said Jacobs Energy, Security and Technology Senior Vice President Karen Wiemelt. "Through our team in Aix-en-Provence, combined with the full strength of Jacobs' global capability, we will work with ITER to channel our technology-enabled knowledge and experience toward benefitting people and the planet."

ITER, which is supported by more than 30 nations, aims to create the conditions for a self-sustaining fusion reaction, which is a crucial steppingstone toward developing fusion power stations and creating a new source of emission-free, almost unlimited energy for the world.

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 $15 billion in annual revenue and a talent force of more than 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 Twitter.

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, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, 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 the COVID-19 pandemic, 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, and  Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, 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:
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214.583.8433

 

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SOURCE Jacobs

FAQ

What is the purpose of Jacobs' contract with ITER?

Jacobs' contract involves designing and engineering maintenance systems for ITER's diagnostic ports, which are essential for the project's operation.

How long is Jacobs' contract with ITER?

The contract is for four years, with a potential two-year extension.

What is the significance of the ITER project?

ITER aims to create the conditions for a self-sustaining fusion reaction, contributing to the development of a new source of emission-free energy.

What company is involved in designing maintenance systems for ITER?

Jacobs is the company awarded the contract to design maintenance systems for ITER.

Which stock is associated with Jacobs?

Jacobs is listed on the NYSE under the symbol 'J'.