Contract will support country's hydrogen economy
transition plan
DALLAS, Sept. 21,
2022 /PRNewswire/ -- Jacobs (NYSE:J) has been awarded
a contract by South Korean offshore wind farm project developer,
Elenergy, to complete the feasibility study for a new green
hydrogen production and import facility in South Korea.
The facility will provide locally produced and imported green
hydrogen for South Korea and help
advance the country's plans to transition to a clean energy
economy, where hydrogen will account for 33% of energy consumption
and 23.8% of power generation by 2050. The facility will be powered
by 100% renewable wind energy sourced from the 1.5GW Chujin
Offshore Wind Farm which Elenergy is also currently
developing.
Jacobs will conduct a green hydrogen market analysis and
technology review, develop the conceptual design and conduct
business case assessment for setting up a green hydrogen production
facility.
"South Korea is moving at speed
and scale to develop the infrastructure, technology and solutions
to transition to a hydrogen economy," said Jacobs People &
Places Solutions Senior Vice President and General Manager
Asia Pacific & Middle East
Keith Lawson. "The opportunity to work with Elenergy as a key
partner on this project will build on our growing energy transition
portfolio in Asia and demonstrates
our ambition to be at the forefront of innovative projects to help
decarbonize the economy."
The project will draw on Jacobs' solutions and advisory
capability in Singapore as well as
global hydrogen and multi-disciplinary capabilities from the U.K.,
Australia, Philippines and India.
"We believe that shaping the schematic concept of this study
will lead to defining key factors, which will be the gateway to
consolidate potentially the first and largest green hydrogen
production project not only in Korea but also in Asia," said Elenergy Executive Director
Seung Han.
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 $14 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
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of the Securities Act of 1933, as amended, and Section 21E of the
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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 timing of the award of projects and funding
under the Infrastructure Investment and Jobs Act, as well as
general economic conditions, including inflation and the actions
taken by monetary authorities in response to inflation, changes in
interest rates, foreign currency exchange rates, changes in capital
markets, geopolitical events and conflicts, and the impact of the
COVID-19 pandemic, including the related reaction of governments on
global and regional market conditions and the company's business,
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
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Kerrie Sparks
214.583.8433
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SOURCE Jacobs