Jacobs Wins New Contract to Support UK's Nuclear Power Plants

Rhea-AI Summary

Jacobs awarded new two-year contract with EDF Nuclear Generation worth over $53 million. The contract aims to maximize generation from nuclear power stations, support energy security, and achieve net-zero carbon by 2050.

Positive

• Jacobs awarded a new two-year contract worth over $53 million
• The contract aims to maximize generation from nuclear power stations
• Supports energy security and the target of achieving net-zero carbon by 2050

Negative

• None.

Work to maximize generation supports energy security and net-zero ambitions

DALLAS, Nov. 6, 2023 /PRNewswire/ -- Jacobs (NYSE:J) was awarded a new Project Management Resources (PMR) framework contract with EDF Nuclear Generation, licensee of eight nuclear power stations which account for approximately 16% of the U.K.'s electricity output.

Under an existing PMR framework, Jacobs supports operations at four Advanced Gas-cooled Reactor (AGR) stations; the transition from generation to defueling at another three AGR stations; and the operation and life extension program for the Sizewell B pressurized water reactor. EDF estimates the value of the new two-year contract, which starts on Jan. 1, 2024, at more than $53 million.

"Our commitment to supporting the U.K.'s nuclear power fleet helps communities to access sustainable, emission-free energy generation," said Jacobs 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 support energy security and the target of achieving net-zero carbon by 2050. Simultaneously, we will assist the transition toward defueling and decommissioning at the stations which have ceased generating."

Now in its ninth year, the existing PMR contract supports work for more than 200 project management, project engineering specialists and site team supervisors. The new framework is being contracted single source in recognition of performance over previous years. Jacobs is now recruiting for locations across the U.K. and welcomes those with diverse, non-nuclear experience.

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 X.

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:
media@jacobs.com 

 

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SOURCE Jacobs

FAQ

What is the value of the new contract awarded to Jacobs?

The value of the new contract is over $53 million.

What is the objective of the contract between Jacobs and EDF Nuclear Generation?

The contract aims to maximize generation from nuclear power stations, support energy security, and achieve net-zero carbon by 2050.

How long is the contract between Jacobs and EDF Nuclear Generation?

The contract is for a duration of two years.

What percentage of the U.K.'s electricity output is accounted for by the eight nuclear power stations?

The eight nuclear power stations account for approximately 16% of the U.K.'s electricity output.

What type of reactor is being operated and extended under the contract?

The Sizewell B pressurized water reactor is being operated and extended under the contract.