BWXT to Manufacture HALEU Feedstock for Advanced Reactors
August 30 2023 - 6:45AM
Business Wire
Under Initial Award of $47 Million, BWXT Will
Process NNSA Scrap Material Into Usable HALEU
BWX Technologies, Inc. (NYSE: BWXT) today announced a contract
to process thousands of kilograms of government-owned scrap
material containing enriched uranium that is unusable in its
present form in order to produce more than two metric tons of
feedstock that can be used for fuel to demonstrate advanced
reactors and help decarbonize the U.S. power grid.
BWXT Nuclear Operations Group, Inc. (BWXT) will conduct this
project at its unique facilities located near Lynchburg, Virginia.
The final form of the processed material will be High Assay Low
Enriched Uranium, more commonly known as HALEU. The initial award
will total $47 million, with a total contract value of up to $116.5
million, subject to annual congressional appropriations.
“We are proud to partner with BWXT on this important initiative.
The project will clear over two metric tons of scrap material from
the Y-12 National Security Complex, contributing to ongoing efforts
to reduce the material accountability and inventory totals at the
site, while also supporting the Department’s advanced reactor
demonstration projects,” said Jeff Chamberlin, Assistant Deputy
Administrator for DOE/NNSA’s Office of Material Management and
Minimization.
“We see tremendous value in partnering with the National Nuclear
Security Administration and the U.S. Department of Energy in
support of their clean energy programs,” said Sharon Smoot,
President of BWXT Nuclear Operations Group, Inc. “Interest in, and
demand for, advanced reactors continues to grow for both national
security and clean energy applications. One of BWXT’s key roles in
moving the nuclear industry forward is leveraging its specialty
materials capabilities to support domestic HALEU needs for the next
generation of nuclear reactors.”
This contract adds to BWXT’s ongoing work with the NNSA to build
the company’s HALEU production capabilities in support of
converting high performance research reactors from highly enriched
uranium to HALEU.
Project & Contract Details
- BWXT will produce over two metric tons of HALEU over the next
five years, with several hundred kilograms expected to be available
as early as 2024.
- To support this program, BWXT plans to hire approximately 20
new operators, engineers and safety personnel at its Lynchburg-area
facility.
- The final product of the program will be HALEU feedstock in an
oxide form at an enrichment level of 19.75%.
- The scrap material to be provided by the NNSA is currently in a
variety of forms and enrichment levels, and it has been collected
by the government from a number of different sources, primarily at
the Y-12 National Security Complex.
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to the performance,
timing, impact and value, to the extent contract value can be
viewed as an indicator of future revenues, of the HALEU
manufacturing contract. These forward-looking statements involve a
number of risks and uncertainties, including, among other things,
modification or termination of the contract, delays in performance
and the receipt and timing of necessary regulatory approvals. 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, 2022.
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
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 7,000 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. Follow us on Twitter at
@BWXT and learn more at www.bwxt.com.
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Media Contact Jud Simmons Senior Director, Media &
Public Relations 434.522.6462 hjsimmons@bwxt.com Investor
Contact Chase Jacobson Vice President, Investor Relations
980.365.4300 investors@bwxt.com
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