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Fluor Awarded Renewable Fuel Production Plant By Joule

Fluor Corporation (NYSE: FLR) announced today that it was awarded an engineering, procurement and construction management (EPCM) contract by Joule to design and build a renewable fuel production facility in New Mexico. Fluor booked the undisclosed contract value in the fourth quarter of 2011.

The facility is intended to test and scale up a process for the commercial production of liquid fuels via Joule's novel technology, which uses sunlight to convert industrial waste carbon dioxide into liquid hydrocarbons, ethanol or chemical products. Joule recently won the 2011 Wall Street Journal Technology Innovation Award in the Energy category in recognition of its ability to surpass the scale, productivity and cost efficiencies of biofuel production processes.

“As a leader in the engineering and construction sector, we believe that the Joule renewable fuel production facility affords Fluor an opportunity to showcase our integrated solutions and assist in the commercialization of this critical technology,” said Lou Del Tufo, Fluor’s senior vice president of Energy & Chemicals and Fluor's Biofuels business team. “We look forward to serving Joule on this project and hope to work with them as they solidify their position as one of the most innovative and forward-thinking technology companies in a rapidly growing global renewable fuels industry.”

William J. Sims, president and CEO of Joule, said, “We are pleased to be working with Fluor, one of the world’s largest and most experienced EPC contractors, and we look forward to the completion and start-up of this facility as the first phase of our commercialization efforts. We fully expect to demonstrate the high efficiencies and commercial viability of our process, which, due to its modularity, can readily scale without the cost of feedstock constraints of biofuels, and ultimately lead to sustainable, localized fuel production around the world.”

Fluor’s Greenville, S.C. office is leading the EPCM services project. Engineering, procurement and site mobilization are currently under way.

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