Fluor // 2023 Integrated Report

39 2023 Integrated Report 01 Our Company and Strategy 02 Our Businesses 03 Our Functions 04 Our Corporate Information ALBEMARLE MEISHAN PROJECT Fluor provided engineering, procurement and construction management services for the Albemarle Meishan Project, which produces 50,000 tons of lithium hydroxide per year, an essential precursor material for highperformance, lithium-ion batteries for electric vehicles. The project, which achieved mechanical completion in 2023, is one of Fluor’s major energy transition projects. Construction was completed safely, with the team achieving 13 million work hours without a lost-time incident in November 2023. BUILDING A SUSTAINABLE FUTURE THROUGH THE ENERGY TRANSITION As society shifts to low-carbon energy sources, we are proud to play a pivotal role in creating a sustainable future by designing and building solutions that reduce GHG emissions; improve energy efficiency; and deliver cleaner, decarbonized projects. We are seeing significant growth in our energy transition portfolio. The percentage of energy transition projects in our backlog has grown from 17% in 2022 to 30% in 2023, a number we anticipate will continue to grow in 2024. Fluor is well positioned with a unified approach across the spectrum of energy transition markets, with notable focus and opportunity in battery chemicals, renewable fuels, carbon capture, hydrogen and nuclear power. We are committed to navigating the complex balance of meeting global sustainability needs in reliable, affordable ways. We aim to inspire others, and, through innovation and the engagement of our global technical experts, we will continue to enable energy transition projects that create a ripple effect of positive change throughout the industry. Renewable Fuels and Chemicals We deliver renewable and biofuel projects, including bioethanol, biodiesel and sustainable aviation fuel. We help clients produce green chemicals using renewable feedstocks and carbon-free energy while also minimizing waste through capital-efficient chemicals and plastic recycling. Hydrogen Hydrogen is a versatile, clean energy carrier with no carbon emissions. We help clients produce all hydrogen types, including green hydrogen from renewably powered electrolysis or biomass gasification and blue hydrogen using carbon capture. We also deliver storage and transportation solutions that address hydrogen’s unique considerations. Clean Power and Energy Storage Carbon-free, clean-energy solutions including nuclear and renewable energy are vital to achieving net zero targets. We design and integrate a variety of clean-power sources and energy storage solutions for clients’ facilities. Battery Value Chain As the global demand for batteries increases, so does the need to produce them sustainably. Spanning every link of the battery value chain, our expertise extends from raw material mining and battery chemical processing to manufacturing and recycling. Our work is expediting the expansion of battery technologies through safe, efficient systems. Carbon Reduction With decades of experience in carbon capture, electrification and energy efficiency projects, we are helping to lead the energy transition and reduce GHG emissions for our clients and our own decarbonization initiatives. Meishan, Sichuan Province, China