BWXT Awarded Phase Two of Microreactor Evaluation Contract for State of Wyoming
June 17 2024 - 3:30PM
Business Wire
Support Strong Among Wyoming Stakeholders and
Potential Vendors During Phase One of Cost-Share Program
BWX Technologies, Inc. (NYSE: BWXT) today announced the award of
the second phase of a contract with the Wyoming Energy Authority to
assess the viability of deploying small-scale nuclear reactors in
the state as a source of resilient and reliable energy to augment
existing power generation resources.
Under phase one of the program, BWXT Advanced Technologies LLC
(BWXT) worked with the Wyoming Energy Authority to define the
requirements for nuclear applications of base heat and power needs
for remote, off-grid applications within the state. BWXT also
performed microreactor system engineering work that could support
Wyoming’s future power needs and identified areas where Wyoming’s
existing supply chain could demonstrate capabilities for reactor
component manufacturing and support reactor deployment.
Phase two of the contract includes completing conceptual design
of a lead microreactor unit, developing a regulatory engagement
plan and microreactor fleet model, and demonstrating the Wyoming
supply chain’s ability to manufacture nuclear components.
“BWXT has seen extraordinary support for the opportunities for
microreactor deployment in Wyoming,” said Joe Miller, BWXT Advanced
Technologies LLC president. “Our meetings with numerous
stakeholders have been very productive, and our workshops in
Gillette, Cheyenne and Casper with potential local vendors have
been well-attended. We look forward to taking this next step
forward with the Wyoming Energy Authority and very much appreciate
the vision of a clean, reliable and practical energy future
demonstrated by both Governor Mark Gordon and the Authority’s
Executive Director Rob Creager.”
In support of this program, BWXT is leveraging existing U.S.
Department of Energy Advanced Reactor Demonstration Program (ARDP)
achievements through the company’s collaboration with Idaho
National Laboratory (INL) and other internal BWXT research and
development investments. Through the ARDP, BWXT and DOE have been
developing the BANR microreactor since 2021, and this effort in
Wyoming represents an acceleration of BWXT’s commercial nuclear
development efforts. INL has been providing strategic and technical
support to the State of Wyoming under a memorandum of understanding
signed in 2022.
“We are eager to move forward with phase two of our contract
with BWXT. The completion of phase one confirms our vision of why
nuclear has so much potential in Wyoming – from uranium production
to manufacturing to industrial applications,” said Rob Creager,
executive director of the Wyoming Energy Authority. “As the world’s
demand for reliable, affordable baseload power only increases over
the next fifty years, we see nuclear as a valuable investment to
Wyoming’s already robust energy portfolio.”
“The landscape of economic opportunity related to
non-traditional application of nuclear energy is evolving quickly,
with significant opportunities firming in regional, national and
global markets,” said Dr. Steven Aumeier, senior advisor for
strategic programs at INL. “This acceleration of Wyoming’s
leadership in the future of nuclear energy is very timely to meet
this new frontier of global opportunity.”
The total value of the cost-share program is approximately $20
million, and phase two of the program is expected to be complete by
the third quarter of 2025.
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to the performance,
design, suitability and impact of the microreactor design and
engineering work to be undertaken by BWXT under the contract with
the Wyoming Energy Authority. These forward-looking statements
involve a number of risks and uncertainties, including, among other
things, modification or termination of the project, execution of
future contracts and delays. If one or more of these or other risks
materialize, actual results may vary materially from those
expressed. For a more complete discussion of these and other risk
factors, please see BWXT’s annual report on Form 10-K for the year
ended December 31, 2023 and subsequent quarterly reports on Form
10-Q filed with the Securities and Exchange Commission. BWXT
cautions not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release, and
undertakes no obligation to update or revise any forward-looking
statement, except to the extent required by applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong,
Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a
Fortune 1000 and Defense News Top 100 manufacturing and engineering
innovator that provides safe and effective nuclear solutions for
global security, clean energy, environmental restoration, nuclear
medicine and space exploration. With approximately 7,800 employees,
BWXT has 14 major operating sites in the U.S., Canada and the U.K.
In addition, BWXT joint ventures provide management and operations
at a dozen U.S. Department of Energy and NASA facilities. For more
information, visit www.bwxt.com. Follow us on LinkedIn, X, Facebook
and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20240613326258/en/
Media Contact Jud Simmons Senior Director, Media &
Public Relations 434.522.6462 hjsimmons@bwxt.com
BWXT Investor Contact Chase Jacobson Vice President,
Investor Relations 980.365.4300 investors@bwxt.com
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