Jacobs Selected by Moltex Energy to Help Develop New Type of Nuclear Power Reactor

DALLAS, Aug. 6, 2020 /PRNewswire/ -- Jacobs (NYSE:J) was selected by Moltex Energy to support their development of a new type of nuclear power plant – the Stable Salt Reactor. Jacobs will build a bespoke experimental facility for thermal transfer testing at its Birchwood Park research and development facility in the U.K.

Based on breakthrough science, Moltex Energy's Stable Salt Reactor is designed to generate low cost electricity by burning processed spent fuel pellets which would otherwise have to be stored as radioactive waste.

To assist with validation of thermal transfer modelling, Jacobs' chemistry, materials, engineering, instrumentation and modeling teams will collaborate to create a technically complex simulation to replicate the heat output of a fuel channel and to validate computational fluid dynamics modelling of the thermal transfer across the fuel assemblies into the coolant.

Moltex already uses Jacobs' ANSWERS® software for radiation transport modeling and simulation of reactor performance.

"We're looking forward to continuing our support for Moltex into this new phase of development as part of our strategy to be a solutions provider at the cutting edge of research into advanced reactors," said Jacobs Critical Mission Solutions International Senior Vice President Clive White. "The Stable Salt Reactor design is significant because of its potential to recycle waste in a clean, safe and economical way, generating electricity which will power communities while reducing carbon emissions."

Moltex has been awarded more than $6 million in funding from Advanced Research Projects Agency-Energy, a United States Department of Energy agency, to help develop the reactor, which is cooled using molten salt.

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 $13 billion in revenue and a talent force of more than 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 September 27, 2019, 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 June 26, 2020, 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