BWXT Awarded an Engineering Contract from TerraPower for the Natrium™ Demonstration Project

Rhea-AI Summary

BWX Technologies, Inc. has announced a contract with TerraPower to design the Intermediate Heat Exchanger for the Natrium Demonstration Project. The Natrium technology is a 345-megawatt sodium fast reactor coupled with a molten salt-based integrated energy storage system. The work will be performed by BWXT Canada Ltd. in Cambridge, Ontario. This contract strengthens BWXT's position in the global advanced reactor market and supports the supply of clean energy in North America.

CAMBRIDGE, Ontario--(BUSINESS WIRE)-- BWX Technologies, Inc. (NYSE: BWXT) today announced a contract with TerraPower to design the Intermediate Heat Exchanger for the Natrium Demonstration Project.

The Natrium technology is a 345-megawatt sodium fast reactor coupled with a molten salt-based integrated energy storage system. The Intermediate Heat Exchanger is a critical component of the Natrium advanced reactor. It transfers heat from the primary sodium in the primary heat transport system to the intermediate heat transport system. This work will start from conceptual design, preliminary design and final detailed design activities of the Intermediate Heat Exchanger, and be performed by BWXT Canada Ltd. in Cambridge, Ontario.

“BWXT has the required experience and expertise in commercial nuclear innovation to serve the fast-growing global advanced reactor market,” said John MacQuarrie, president of BWXT Commercial Operations. “We are pleased to work with TerraPower to execute this contract and look forward to meeting our commitments while expanding our role in accelerating the supply of clean energy in North America.”

In November 2021, TerraPower announced Kemmerer, Wyoming as the preferred site for the Natrium Demonstration Project, one of two competitively-selected advanced reactor demonstration projects (ARDP) supported by the U.S. Department of Energy (DOE). Successful design of the Intermediate Heat Exchanger by BWXT Canada Ltd. is key to the planned achievements of the Natrium Demonstration Project’s power generation.

BWXT is a global leader in the design, manufacture and service of commercial nuclear components. As a result of its investments in people and facilities, BWXT has become an essential partner in the delivery of nuclear projects, supporting customers’ commitment to generating clean, reliable, low-cost electricity for communities and businesses.

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, design, suitability and impact of the Intermediate Heat Exchanger to be designed by BWXT under the contract with TerraPower. 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, 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.

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. BWXT’s Commercial Operations has over 60 years of expertise and experience in the design, manufacturing, commissioning and service of nuclear power generation equipment. This includes steam generators, nuclear fuel and fuel components, critical plant components, parts and related plant services. 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/20230801771721/en/

Media Contact

Monifa Miller

Senior Director, Corporate Affairs

Commercial Operations

519.242.8071 mamiller@bwxt.com

Investor Contact

Chase Jacobson

Vice President, Investor Relations

980.365.4300 investors@bwxt.com

Source: BWX Technologies, Inc.

FAQ

What is the contract announced by BWX Technologies, Inc.?

BWX Technologies, Inc. has announced a contract with TerraPower to design the Intermediate Heat Exchanger for the Natrium Demonstration Project.

What is the Natrium technology?

The Natrium technology is a 345-megawatt sodium fast reactor coupled with a molten salt-based integrated energy storage system.

Where will the work be performed?

The work will be performed by BWXT Canada Ltd. in Cambridge, Ontario.

What is the significance of this contract for BWXT?

This contract strengthens BWXT's position in the global advanced reactor market and supports the supply of clean energy in North America.