BWXT Awarded $21 Billion Environmental Management Contract for DOE’s Savannah River Site

Rhea-AI Summary

BWX Technologies, Inc. (NYSE: BWXT) has secured a significant contract with the U.S. Department of Energy valued at up to $21 billion over a 10-year period for environmental management at the Savannah River Site in South Carolina. This contract is part of a joint venture including BWXT and other partners, focusing on liquid waste management and nuclear materials stabilization. The president of BWXT's Nuclear Services Group emphasized the win's strategic importance in tackling environmental challenges while committing to effective collaboration with regulatory bodies and local communities.

Positive

• Awarded a contract worth up to $21 billion over 10 years from the U.S. Department of Energy.
• Strengthens BWXT's position in the environmental management sector.
• Collaboration with established partners enhances project execution capabilities.

Negative

• Potential risks include contract modification or termination and project delays.

LYNCHBURG, Va.--(BUSINESS WIRE)-- BWX Technologies, Inc. (NYSE: BWXT) today announced a contract with an estimated ceiling of approximately $21 billion over a 10-year ordering period from the U.S. Department of Energy (DOE) for environmental management operations at the Savannah River Site (SRS) in South Carolina.

The DOE announced the award of the Savannah River Site Integrated Mission Completion Contract to Savannah River Mission Completion, LLC (SRMC), which is a joint venture led by a BWXT subsidiary and includes subsidiaries of Amentum and Fluor. The team includes two pre-selected small businesses, DBD and Wesworks (a woman-owned business), who provide specialized modeling and project controls expertise, respectively.

“This is a strategically important win for BWXT and demonstrates our ability to address some of the most complex environmental challenges in the nation,” said Ken Camplin, president of BWXT’s Nuclear Services Group. “We intend to work with our SRMC teammates, our DOE customer, the regulatory authorities and the community in making a significant impact on waste management at SRS for many years to come.”

The scope of work for the contract includes liquid waste stabilization/disposition and potentially nuclear materials management and stabilization, among other requirements. SRS is a 310-square-mile site that encompasses parts of Aiken, Barnwell and Allendale counties in South Carolina and is bordered on the west by the Savannah River and Georgia.

More information is available from the DOE’s Office of Environmental Management here.

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 financial performance, of the contract award. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract 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, 2020 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 remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005917/en/

Media Contact

Jud Simmons

Director, Media & Public Relations

434.522.6462

hjsimmons@bwxt.com

Investor Contact

Mark Kratz

Vice President, Investor Relations

980.365.4300

investors@bwxt.com

Source: BWX Technologies, Inc.

FAQ

What is the value of the contract awarded to BWXT by the U.S. Department of Energy?

The contract has an estimated ceiling of approximately $21 billion.

How long is the contract with the U.S. Department of Energy for BWXT?

The contract is over a 10-year ordering period.

What does the contract with the U.S. Department of Energy involve?

It includes environmental management operations at the Savannah River Site, focusing on liquid waste stabilization and nuclear materials management.

Who are the partners in the joint venture for the Savannah River Site contract?

The joint venture includes BWXT, Amentum, and Fluor, along with two small business partners.

What are the risks associated with the contract awarded to BWXT?

Risks include possible contract modifications, terminations, and project delays.