Jacobs Engineering To Design Key Safety Feature For ITER Fusion Project - Jacobs Solutions (NYSE:J)

Jacobs Engineering Group Inc J has been selected to design and deliver the First Plasma Radiological Environmental Monitoring System (REMS), a key safety system for ITER.
Jacobs previously delivered the REMS preliminary design under a separate contract. It will carry out the new project at its offices across Europe and at the ITER site.
ITER, an international experiment involving 35 countries, seeks to prove the viability of fusion energy by building a fusion device at St-Paul-lès-Durance, France.
Fusion for Energy (F4E), the organization responsible for the European Union's contribution to ITER, estimates the contract for final design, procurement, installation, and commissioning at $4.2 million.
F4E has also reselected Jacobs as its principal supplier of instrumentation and control systems support under a new framework contract covering ITER's upcoming nuclear safety needs over the next seven years.
Jacobs will prepare technical specifications and support F4E to oversee project delivery and acceptance of systems. F4E estimates the maximum value of the contract at $10.6 million.
Price Action: J shares closed higher by 1.04% at $131.72 on Tuesday.