What’s Going on with Jacobs Engineering Group Inc.?
Jacobs Engineering Group Inc. (J) announced that it has been selected to design and deliver the First Plasma Radiological Environmental Monitoring System (REMS) for the ITER Fusion Energy Experiment in southern France. As of 10:19 am EDT today, Jacobs stock was trading at $131.29 per share, representing a 0.71% uptick in value.
What Does This Mean for Jacobs?
ITER, involving 35 nations, is the world's largest fusion energy experiment. According to a press release from Jacobs Engineering, the company will design, build and deliver ITER's First Plasma Radiological Environmental Monitoring System. The monitoring system is being built to protect workers, as well as the environment, from “ionizing radiation by monitoring radiological activity,” which is a key safety step to reach before ITER starts operations.
The organization responsible for the European Union's contribution to ITER, Fusion for Energy (F4E), estimates that the contract for the final monitoring system design, procurement, installation and commissioning will be around $4.2 million (€3.5 million).
"We will leverage Jacobs' leading-edge technical and project integration capabilities to deliver this technically complex project," Jacobs Energy, Security and Technology Senior Vice President Karen Wiemelt commented. "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."
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Jacobs Engineering is a global provider of engineering, design, procurement, construction, and maintenance services as well as cyber engineering and security solutions. The firm serves industrial, commercial, and government clients in a wide variety of sectors, including water, transportation, healthcare, technology, and chemicals. Jacobs Engineering employs approximately 55,000 workers. The company generated $13.6 billion in revenue and $970 million in adjusted operating income in fiscal 2020.