Jacobs will spearhead the planning and approval process necessary to obtain regulatory approvals for the U.K.’s SMR projects, including community research and legal paperwork for the sites.
- The company’s initial focus will be on the Gwyndod (formerly Wylfa Newydd) and Oldbury-on-Severn sites for the SMRs.
- Jacobs also has the potential to secure future contracts for the same services from Great British Energy – Nuclear.
- The agreement with the firm will serve as a catalyst for U.S.-based Jacobs to secure future SMR-related projects.
Shares of Jacobs (J) surged in Tuesday’s premarket trade after the company was chosen by Great British Energy – Nuclear to provide planning and consenting services for the U.K.’s first fleet of small modular reactors (SMR).
At the time of writing, J stock was up more than 6%.
Why Does This Matter For Jacobs
The agreement with the U.K. energy firm will serve as a catalyst for U.S.-based Jacobs to secure future SMR-related projects, leveraging its extensive expertise in engineering, procurement, and construction management services from previously completed energy projects.
Nuclear energy is making a comeback as nations increasingly seek low-cost energy alternatives amid record-high electricity consumption driven by AI data centers and extreme weather, and against the backdrop of geopolitical tensions in the Middle East, which is choking the flow of oil through the Strait of Hormuz and making global supply volatile.
What Is Jacobs’ Role In The UK SMR Projects
The company will spearhead the planning and approval process necessary to obtain U.K. regulatory approvals for the SMR projects, including community research and legal paperwork for the sites where the infrastructure will be built. Jacobs has also hired a subcontractor, Quod, for the projects. The financial terms of the contract were not disclosed.
Jacobs’ initial focus will be on the Gwyndod (formerly Wylfa Newydd) and Oldbury-on-Severn sites for the SMRs, which will be designed and built by Rolls-Royce SMR, per their agreement with Great British Energy – Nuclear from April. Jacobs also has the potential to secure future contracts for the same services from the U.K. energy firm.
“Continuing to deliver the first of the U.K.’s fleet of SMRs with pace and focus will require a deep understanding of the planning and consenting processes for energy infrastructure in the U.K., and I’m pleased to have appointed Jacobs and Quod to help us in this effort,” said Simon Roddy, CEO of Great British Energy – Nuclear.
On Stocktwits, retail sentiment toward the stock remained in ‘bullish’ territory over the last 24 hours. J stock is down more than 2% so far this year and nearly 6% over the past 12 months.
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