Jacobs to Collaborate on Commercialization of Proven BP / Davy Fischer Tropsch Technology
PASADENA, Calif., May 17, 2011 /PRNewswire/ — Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it has been selected by both BP and Davy Process Technology Ltd (Davy, a subsidiary of Johnson Matthey Plc), to help seek deployment opportunities for the proven BP / Davy Fischer Tropsch process, on a non-exclusive basis. Under the agreement, Jacobs is providing engineering resources to potential licensees.
The BP / Davy Fischer Tropsch process transforms syngas into liquid hydrocarbons, and is a low technology risk process for producing diesel, jet fuel (JP8) and naphtha from natural gas, bio-mass or coal derived syngas.
With increasing global demand for liquid fuels, the economic attractiveness of converting stranded natural gas or coal reserves into liquid fuels is growing. BP and Davy have successfully demonstrated the fixed bed technology at a semi commercial scale in Nikiski, Alaska, with full scale fixed bed reaction tubes where the nominal 300bpd complex met or exceeded all of its performance targets. This process is now available for license to third parties, and BP’s and Davy’s continuing development is focused on retrofit enhancements.
In making the announcement, Jacobs Group Vice President, Allyn Taylor, stated, “We are delighted to have been appointed to provide potential licensees with our front end engineering experience and the benefits that our first class engineering resources will bring.”
Jacobs is one of the world’s largest and most diverse providers of technical, professional, and construction services.
Statements made in this release that are not based on historical fact are 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. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2010 Form 10-K, and in particular the discussions contained under Items 1 – Business, 1A – Risk Factors, 3 – Legal Proceedings, and 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements.
For additional information contact: Michelle Jones 626.578.6968
SOURCE Jacobs Engineering Group Inc.