Montreal: January 25, 2024 – AtkinsRéalis [SNC-Lavalin Group Inc.] (TSX: ATRL), a fully integrated professional services and project management company with offices around the world, has been awarded, along with its partners Jacobs Technology Inc. and Longenecker and Associates, a multidiscipline engineering support services contract by the U.S. Department of Energy’s Princeton Plasma Physics Laboratory (PPPL). AtkinsRéalis spearheads a world-leading fusion engineering consortium of companies and brings a decade of knowledge across multiple international programs to PPPL, which continues its pioneering program of developing solutions for the creation of fusion energy to fuel the next generation of electricity production.
“Supporting the delivery of fusion on a commercial scale to offer safe, limitless and environmentally responsible energy is another example of how we are leveraging our best-in-class engineering services to help break the world’s reliance on less-sustainable alternatives and advance the global energy transition,” said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis.
The indefinite delivery/indefinite quantity (IDIQ) contract, which spans five years with a base period of three years and two optional years, has a ceiling value of $50M US. Services provided by AtkinsRéalis and its partners include support for design of future upgrades to the National Spherical Torus Experiment-Upgrade (NSTX-U), the primary fusion experiment and user facility at PPPL; design and fabrication support of plasma diagnostic and heating sub-systems for ITER, the international fusion facility being constructed in France, where AtkinsRéalis has been the Architect Engineer since 2010 as a member of the Engage consortium; as well as conceptual design of electricity-generating fusion plants; and development of physics and technology advances that can improve the economics of fusion plants.
“This work represents a significant opportunity for AtkinsRéalis to contribute to a highly visible national and international priority program, bolstering the field of fusion research and implementation,” said Joe St. Julian, President, Nuclear, AtkinsRéalis. “Providing management, design, engineering and analysis services to enable PPPL’s science mission accomplishments and initiatives will ultimately help accelerate the commercialization of fusion energy, unlocking its potential as a clean, safe and secure energy source of the future.”
To support its work in the U.S., AtkinsRéalis will leverage its well-established European fusion capabilities and extensive collaboration with strategic partners such as the UK Atomic Energy Authority (UKAEA), where an AtkinsRéalis led consortium are serving as the Engineering Delivery Partner for Tranche 1 of the Spherical Tokamak for Energy Production (STEP) program. The UK and the US have a long history of collaborative efforts in fusion energy research and development, including for example PPPL-UKAEA Fusion Fellowships, and recently announced a new strategic partnership to make fusion energy commercially viable. AtkinsRéalis’ vast international experience will help progress the development of carbon net zero energy technologies that will power the future of our planet and its people.
About AtkinsRéalis
Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-leading professional services and project management company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. Engineering Services, Nuclear, Operations & Maintenance and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.
About AtkinsRéalis’ Nuclear Business
AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis is also involved in developing medical radioisotopes for cancer research through its partnership with TerraPower.
Forward-Looking Statements
Reference in this press release to the “Company” or to “AtkinsRéalis” means, as the context may require, SNC-Lavalin Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company’s or management’s expectations or strategies may be “forward-looking statements”, which can be identified by the use of the conditional or forward-looking terminology such as “expects”, “forecasts”, “intends”, “may”, “objective”, “plans”, “projects”, “should”, “will”, “likely”, or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. All such forward-looking statements are made pursuant to the “safe harbor” provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company’s current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company’s 2022 Annual MD&A (particularly in the sections entitled “Critical Accounting Judgments and Key Sources of Estimation Uncertainty” and “How We Analyze and Report our Results”) and as updated in the first, second and third quarters of 2023 MD&A each filed with the securities regulatory authorities in Canada, available on SEDAR+ at and on the Company’s website at under the “Investors” section. If these assumptions are inaccurate, the Company’s actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company’s assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the Company’s 2022 Annual MD&A (particularly in the sections entitled “Risk and Un certainties”) and as updated in the first, second and third quarters of 2023 MD&A and are not exhaustive. The forward-looking statements herein reflect the Company’s expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation....
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