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  • Writer's pictureShernel Thielman

Jacobs Secures £108 Million Contract to Support U.K. Naval Nuclear Propulsion Program

Jacobs (NYSE:J), a global provider of technical, professional, and scientific services, has been awarded a £108 million ($132 million) contract to supply research and technology services to the United Kingdom's naval nuclear propulsion program. The contract, extending until 2032, encompasses crucial technical support throughout the lifecycle of reactors powering the Royal Navy's submarines, including the Rolls-Royce PWR2 reactors. Additionally, Jacobs will be involved in reactor development for future naval vessels.

The U.K. is currently in the process of constructing four new Dreadnought Class ballistic missile submarines and exploring a new submarine type under the AUKUS security agreement with the U.S. and Australia.

Jacobs Vice President Andy White highlighted the company's key role in supporting existing submarines and contributing to the development of future propulsion plants for the Ministry of Defence. Jacobs has a longstanding history, having supported the Royal Navy's nuclear submarines since the design work on the first boat commenced in 1958.

The company, with its extensive laboratory and analytical resources, provides expertise in materials science, high integrity engineering, physics, chemistry, and various other disciplines. In addition to this contract, Jacobs is responsible for delivering nuclear safety and technical advice to the Royal Navy's submarine service under a separate £185 million ($230 million) 10-year contract awarded last year.

U.K. Minister for Defence Procurement James Cartlidge emphasized the economic impact of the contract, supporting over 100 U.K. jobs and contributing to Jacobs' existing workforce of over 11,000 people across the country.

Investment Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consider their risk tolerance before making investment decisions. The information provided here may not be accurate, complete, or up-to-date, and actual results for Jacobs may materially differ from the information presented.

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