Supports U.K.'s decarbonization and energy security future
DALLAS, Oct. 3, 2024 /PRNewswire/ -- Jacobs (NYSE: J) has been appointed by the U.K. Department for Energy Security & Net Zero (DESNZ) to deliver technical project management support to the Carbon Capture, Usage and Storage (CCUS) program, an essential element of the U.K.'s commitment to deliver a net-zero economy by 2050.
CCUS will help decarbonize industry, generate low-carbon energy and enable low-carbon hydrogen production at scale. The program will facilitate the low carbon transformation of the U.K.'s industrial base by the creation of "clusters" of industrial, power and hydrogen projects around transport and storage infrastructure.
Jacobs will deliver technical project management, strategic and change management advisory services, data solutions and risk and quality management. Jacobs will also deliver associated strategic support to the Hydrogen and Industrial Carbon Capture program and provide advisory consultancy, end-to-end innovation, design and analytics with strategic partner PA Consulting (PA). For its part, PA will draw on its technology, design and analytics experience to ensure the U.K.'s approach to carbon capture is innovative and impactful.
The contract with DESNZ is for an initial term of two years with an option to extend by up to two additional one-year periods.
"CCUS is an important enabler to the diverse mix of cross-market decarbonization and energy transition solutions needed to meet net-zero ambitions and enhance the U.K.'s energy security for the future," said Jacobs Senior Vice President Kate Kenny. "We bring technical and strategic program management experience across CCUS projects, critical infrastructure and whole energy systems as the CCUS program drives continued development and scaling in deployment."
At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With a team of approximately 45,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we're creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn,Instagram, X and Facebook.
Jacobs holds a 65% stake in PA Consulting, with the remaining 35% held by PA employees. Both Jacobs and PA operate as separate entities, each responsible for serving clients independently.
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, uncertainties as to the impact of the recently completed separation transaction pursuant to which we spun off and merged our Critical Missions Solutions and Cyber & Intelligence government services businesses with Amentum (together, "new Amentum ") on Jacobs' and new Amentum's businesses, 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, increased uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, among others, 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, 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.
