JACKSONVILLE, Fla., Sept. 20,
2023 /PRNewswire/ -- Global shipping and energy
supply chain leader Crowley has teamed with nuclear power leader
BWX Technologies, Inc. (NYSE: BWXT) through a memorandum of
understanding for a ship concept that has the potential to generate
alternative, zero-carbon emission energy for defense and disaster
needs by including a microreactor on board.
The new memorandum of understanding with BWXT's Advanced
Technologies subsidiary will allow both companies to jointly pursue
and develop opportunities relative to the design, engineering and
development of new shallow-draft hull ships that will supply
small-scale nuclear energy to shoreside locations. The new ships
would feature the latest technology available for factory
fabricated microreactors, readily deployed into a shipyard
configuration for ease of installation on the vessel. The onboard
power plant would supply energy to shore facilities, such as
military bases in remote island locations, backup utility grids
after disasters, and provide power in other scenarios where
traditional electricity sources are damaged or not possible.
The new vessel concept envisions a 378-foot ship that pulls from
the logistics and marine capabilities of Crowley, a longtime
operator with in-house vessel design by its Crowley Engineering
Services, and the nuclear capabilities of BWXT, a leading supplier
of nuclear components, fuel and services to the U.S. government at
the highest levels of safety and security for more than 60 years.
Both Crowley and BWXT are based in the
United States and have been in business for more than a
century.
"Our cooperation with BWXT will move Crowley for the first time
into the nuclear energy sector, a key part of our commitment to
sustainable, alternative energy sources. This concept supports the
U.S. Department of Energy's goal of maintaining U.S. leadership in
nuclear energy technology as well as many the U.S. Department of
Defense's strategic goals for operational energy," said
Shiju Zacharia, senior vice
president and general manager, Crowley Government Solutions.
This new vessel concept pairs traditional propulsion while
carrying a modular reactor between 5 and 50 megawatts that can be
activated upon arrival at the destination and be deactivated and
transported after the power supply is discontinued. Buoyed power
delivery cables will enable the ships to deploy energy connections
to shore. Shallow draft hulls allow the vessels to maneuver to
strategically deliver power for military activities or if disasters
limit harbor access.
"We are excited to work alongside Crowley to leverage our
ongoing reactor development and demonstration programs, advancing
nuclear technology into new and novel markets to deliver zero
carbon emissions energy generation to strategic locations," said
Joe Miller, president of BWXT
Advanced Technologies LLC.
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reproduction, click here.
Crowley
Contacts:
|
|
David DeCamp
|
Torey Vogel
|
Director, Corporate
Communications
|
Specialist, Corporate
Communications
|
(904)
727-4263
|
(904)
726-4536
|
david.decamp@crowley.com
|
torey.vogel@crowley.com
|
|
|
BWXT
Contacts:
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|
Media
|
Investors
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Jud Simmons
|
Chase
Jacobson
|
Senior Director, Media
& Public Relations
|
Vice President,
Investor Relations
|
434.522.6462 hjsimmons@bwxt.com
|
980.365.4300
investors@bwxt.com
|
About Crowley
Crowley is a privately held, U.S.-owned
and -operated maritime, energy and logistics solutions company
serving commercial and government sectors with $3.4 billion in annual revenues, over 170 vessels
mostly in the Jones Act fleet and approximately 7,000 employees
around the world – employing more U.S. mariners than any other
company. The Crowley enterprise has invested more than $3.2 billion in maritime transport, which is the
backbone of global trade and the global economy. As a global ship
owner-operator and services provider with more than 130 years of
innovation and a commitment to sustainability, the company serves
customers in 36 nations and island territories through five
business units: Crowley Logistics, Crowley Shipping, Crowley
Government Solutions, Crowley Wind Services and Crowley
Fuels. Additional information about Crowley, its business units and
subsidiaries can be found at www.crowley.com.
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.
Forward Looking Statements
BWXT cautions that this
release contains forward-looking statements, including statements
relating to the performance, design, suitability and impact of
microreactor technology. These forward-looking statements involve a
number of risks and uncertainties, including, among other things,
the timing of technology development; our ability to obtain the
necessary regulatory approvals, licenses and permits in a timely
manner; the ability to commercialize this technology; competition
in an environment of rapid technological changes; and the
enforcement and protection of our intellectual property rights. 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 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.
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SOURCE Crowley