Project will accelerate state and national clean
hydrogen economy
Supports energy transition efforts for entire
value chain
DALLAS, Aug. 1, 2024
/PRNewswire/ -- Jacobs (NYSE:J) was selected as Program
Manager for the Alliance for Renewable Clean Hydrogen Energy
Systems (ARCHES), a public private partnership (P3) establishing a
statewide clean hydrogen hub (H2) in California, one of seven national hubs
announced by the White House and recently granted funding by the
U.S. Department of Energy Office of Clean Energy Demonstration (DOE
OCED).
The Program Management Office (PMO) will be responsible for
standing up and providing ongoing support to the newly established
ARCHES consortium. As the PMO lead, Jacobs will use its proven
program management approach to provide delivery oversight,
integrate project activities and drive best practice across the
entire H2 lifecycle of feedstock, production,
distribution and offtake to build the foundation of a thriving
hydrogen market in California. The
program is scheduled to commence in the second half of 2024.
"ARCHES is at the forefront of global energy transition through
the use of its renewable resources to produce and distribute green
hydrogen," said Jacobs CEO Bob
Pragada. "We're ready to mobilize and work with ARCHES to
create a sustainable future for California while also benefiting the community
through enduring environmental benefits, job creation and improved
social equity."
"Jacobs has been an integral partner from the onset – providing
important guidance during preparation for, and participation in,
our DOE interview, supporting us through award negotiations with
the government and now helping us to initiate the people, process,
systems, and tools required to hit the ground running to properly
launch and successfully deliver this epic program," said ARCHES CEO
Angelina Galiteva.
By 2032, the hub is forecasted to have a hydrogen generation
capacity of 190,000 metric tons per year, thus avoiding 2.5 million
metric tons of greenhouse gas emissions annually. Expected
community benefits are poised to include $2.95 billion of health care cost savings per
year and the creation of more than 220,000 new green jobs. Hub
capacity will be delivered along the entire value chain using
energy sources such as renewable electricity and biomass/waste to
produce hydrogen through to storage and distribution for
consumption and application in relevant sectors such as
transportation.
Jacobs' engagement follows the DOE's Regional Clean Hydrogen
Hubs (H2Hubs) program, which designated $7
billion for seven regional hubs across the country, part of
the White House's "Investing in America" agenda and made available
by the Infrastructure Investments and Jobs Act. ARCHES is due to
receive approximately $1.2 billion of
the DOE funding with an overall project value of nearly
$13 billion.
Across the state of California,
Jacobs has been part of some of the state's largest critical
infrastructure projects, such as the Pure Water Project for
Las Virgenes-Triunfo, Los Angeles World Airports Capital
Improvement Program, the award-winning Los Angeles Federal
Courthouse, Delta Conveyance Project, the Sixth Street Viaduct
Replacement Project and the Port of San Francisco Waterfront
Resilience Program. Jacobs was named No.1 for the fourth
consecutive year by Engineering
News-Record's global Top 50 Program Management Firms list
in 2023.
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 approximately $16 billion
in annual revenue and a talent force of more than 60,000, 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
X.
Certain statements contained in this press release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that do not directly relate to any
historical or current fact. When used herein, words such as
"expects," "anticipates," "believes," "seeks," "estimates,"
"plans," "intends," "future," "will," "would," "could," "can,"
"may," and similar words are intended to identify 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, our plans to spin off and merge with Amentum
our Critical Missions Solutions business and a portion of our
Divergent Solutions business in a proposed transaction that is
intended to be tax-free to stockholders for U.S. federal income tax
purposes, the timing of the award of projects and funding and
potential changes to the amounts provided for under the
Infrastructure Investment and Jobs Act and other legislation
related to governmental spending, as well as general economic
conditions, including inflation and the actions taken by monetary
authorities in response to inflation, changes in interest rates and
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events and conflicts, and the impact of any future pandemic or
infectious disease outbreak, including the related reaction of
governments on global and regional market conditions, 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 law.
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SOURCE Jacobs