BWXT Launches Innovation Campus to Speed Development of Advanced Nuclear Technologies
BWX Technologies (NYSE: BWXT) has unveiled its new BWXT Innovation Campus, a 170,000 square-foot facility in Lynchburg, Virginia, dedicated to advancing nuclear technology for land, sea, and space applications. The campus houses BWXT's Advanced Technologies business unit with over 350 team members.
The facility, supported by up to $2 million in local and state tax grants, has already exceeded its employment targets with 115 new hires against a goal of 97. BWXT has invested $51 million in the site through 2024, with $227,000 received in tax incentives.
Key projects at the campus include the Project Pele mobile microreactor for the Department of Defense, the DARPA DRACO nuclear thermal rocket engine program, and the BWXT Advanced Nuclear Reactor (BANR). BWXT has signed a letter of intent with Tata Chemicals to explore deploying up to eight BANRs at a Wyoming mining site.
BWX Technologies (NYSE: BWXT) ha presentato il suo nuovo BWXT Innovation Campus, una struttura di 15.000 metri quadrati a Lynchburg, Virginia, dedicata all'avanzamento della tecnologia nucleare per applicazioni terrestri, marittime e spaziali. Il campus ospita l'unità di business delle Tecnologie Avanzate di BWXT con oltre 350 membri del team.
La struttura, supportata da fino a 2 milioni di dollari in sovvenzioni fiscali locali e statali, ha già superato i suoi obiettivi di assunzione con 115 nuovi assunti rispetto a un obiettivo di 97. BWXT ha investito 51 milioni di dollari nel sito entro il 2024, con 227.000 dollari ricevuti in incentivi fiscali.
I progetti chiave del campus includono il Project Pele, un microreattore mobile per il Dipartimento della Difesa, il programma del motore a razzo termonucleare DARPA DRACO, e il BWXT Advanced Nuclear Reactor (BANR). BWXT ha firmato una lettera di intenti con Tata Chemicals per esplorare l'implementazione di fino a otto BANR in un sito minerario nel Wyoming.
BWX Technologies (NYSE: BWXT) ha presentado su nuevo BWXT Innovation Campus, una instalación de 15,000 pies cuadrados en Lynchburg, Virginia, dedicada a avanzar en la tecnología nuclear para aplicaciones en tierra, mar y espacio. El campus alberga la unidad de negocios de Tecnologías Avanzadas de BWXT con más de 350 miembros del equipo.
La instalación, respaldada por hasta 2 millones de dólares en subvenciones fiscales locales y estatales, ya ha superado sus objetivos de empleo con 115 nuevas contrataciones frente a una meta de 97. BWXT ha invertido 51 millones de dólares en el sitio hasta 2024, recibiendo 227,000 dólares en incentivos fiscales.
Los proyectos clave en el campus incluyen el Project Pele, un microreactor móvil para el Departamento de Defensa, el programa de motor de cohete térmico nuclear DARPA DRACO, y el BWXT Advanced Nuclear Reactor (BANR). BWXT ha firmado una carta de intención con Tata Chemicals para explorar la implementación de hasta ocho BANR en un sitio minero en Wyoming.
BWX Technologies (NYSE: BWXT)는 버지니아주 린치버그에 위치한 15만 평방피트 규모의 BWXT 혁신 캠퍼스를 공개했습니다. 이 시설은 육상, 해양 및 우주 응용 프로그램을 위한 원자력 기술을 발전시키는 데 전념하고 있습니다. 캠퍼스에는 350명 이상의 팀원이 있는 BWXT의 첨단 기술 사업 부서가 있습니다.
이 시설은 최대 200만 달러의 지역 및 주 세금 보조금으로 지원되며, 97명의 목표에 대해 115명의 신규 채용으로 이미 고용 목표를 초과 달성했습니다. BWXT는 2024년까지 이 사이트에 5,100만 달러를 투자했으며, 227,000달러의 세금 인센티브를 받았습니다.
캠퍼스의 주요 프로젝트에는 국방부를 위한 Project Pele 이동형 마이크로 리액터, DARPA DRACO 핵 열 로켓 엔진 프로그램, BWXT 고급 원자로(BANR)가 포함됩니다. BWXT는 타타 화학과 협약서를 체결하여 와이오밍의 광산 부지에 최대 8개의 BANR을 배치하는 방안을 모색하고 있습니다.
BWX Technologies (NYSE: BWXT) a dévoilé son nouveau BWXT Innovation Campus, une installation de 15 000 pieds carrés à Lynchburg, en Virginie, dédiée à l'avancement de la technologie nucléaire pour des applications terrestres, maritimes et spatiales. Le campus abrite l'unité commerciale des Technologies Avancées de BWXT avec plus de 350 membres d'équipe.
L'installation, soutenue par jusqu'à 2 millions de dollars en subventions fiscales locales et étatiques, a déjà dépassé ses objectifs d'emploi avec 115 nouvelles recrues par rapport à un objectif de 97. BWXT a investi 51 millions de dollars dans le site d'ici 2024, avec 227 000 dollars reçus en incitations fiscales.
Les projets clés sur le campus incluent le Project Pele, un microréacteur mobile pour le Département de la Défense, le programme de moteur de fusée thermique nucléaire DARPA DRACO, et le BWXT Advanced Nuclear Reactor (BANR). BWXT a signé une lettre d'intention avec Tata Chemicals pour explorer le déploiement de jusqu'à huit BANR sur un site minier dans le Wyoming.
BWX Technologies (NYSE: BWXT) hat seinen neuen BWXT Innovation Campus vorgestellt, eine 15.000 Quadratfuß große Einrichtung in Lynchburg, Virginia, die der Förderung der Nukleartechnologie für Anwendungen zu Land, zu Wasser und im Weltraum gewidmet ist. Der Campus beherbergt die Geschäftseinheit für fortschrittliche Technologien von BWXT mit über 350 Teammitgliedern.
Die Einrichtung, die durch bis zu 2 Millionen Dollar an lokalen und staatlichen Steuerzuschüssen unterstützt wird, hat bereits ihre Beschäftigungsziele mit 115 Neueinstellungen über dem Ziel von 97 überschritten. BWXT hat bis 2024 51 Millionen Dollar in den Standort investiert und 227.000 Dollar an Steueranreizen erhalten.
Zu den Schlüsselprojekten auf dem Campus gehören der Project Pele mobile Mikroreaktor für das Verteidigungsministerium, das Programm für den nuklearthermischen Raketentriebwerk DARPA DRACO und der BWXT Advanced Nuclear Reactor (BANR). BWXT hat einen Absichtserklärung mit Tata Chemicals unterzeichnet, um die Implementierung von bis zu acht BANRs an einem Bergbauort in Wyoming zu erkunden.
- Exceeded employment targets with 115 new hires vs 97 goal
- Secured up to $2M in tax incentives with $227,000 already received
- Strategic partnership with Tata Chemicals for potential deployment of 8 BANRs
- Significant government contracts including DoD's Project Pele and DARPA DRACO program
- $51M facility investment demonstrates commitment to growth
- Investment of $51M through 2024 falls short of $65M target tied to incentives
Insights
BWXT's new Innovation Campus represents a strategic milestone in the company's advanced nuclear technology roadmap. At 170,000 square feet with over 350 specialists, this consolidated facility creates a centralized hub dedicated to developing nuclear solutions across multiple high-value domains – defense, space, and commercial applications.
The project portfolio is particularly impressive. Project Pele for the Department of Defense addresses the critical military need for deployable, reliable power without extended supply chains – a long-standing challenge for forward operations. Meanwhile, BWXT's involvement in NASA's Nuclear Thermal Propulsion program and the DARPA DRACO nuclear thermal rocket positions the company at the forefront of space nuclear technology, an area experiencing renewed government investment after decades of development.
Most commercially significant is the BWXT Advanced Nuclear Reactor (BANR), a transportable 50 MWt high-temperature gas reactor. The letter of intent with Tata Chemicals for up to eight BANRs at a Wyoming mining site signals tangible commercial interest beyond government contracts. This dual-market strategy – serving both government agencies and commercial clients – creates multiple revenue pathways and reduces dependency on any single customer.
The facility's comprehensive capabilities – from design through testing to manufacturing – establish BWXT as a vertically integrated supplier in specialized nuclear applications, a competitive advantage when addressing complex requirements for NASA, DoD and commercial clients seeking turnkey solutions.
The Innovation Campus investment demonstrates BWXT's commitment to expanding its technological leadership in specialized nuclear applications with long-term growth potential. The $51 million invested against a $65 million target shows disciplined capital deployment, while the 115 additional hires (exceeding the 97-employee target) indicates the company is building capacity for anticipated project growth.
The $2 million in tax incentives represents effective use of government partnerships to reduce capital costs. With only $227,000 received so far and the commonwealth's grant payment expected in Q2 2026, BWXT has structured a favorable capital investment timeline that aligns incentive receipts with project milestones.
This facility consolidation should drive operational efficiencies by bringing Advanced Technologies operations under one roof, likely reducing overhead and improving project execution capabilities. The investment timing is strategic, positioning BWXT to capture increasing government spending on nuclear security and space exploration applications.
The Tata Chemicals letter of intent signals potential for recurring commercial revenue beyond government contracts. Mining operations require consistent power, making them ideal early adopters for advanced nuclear technology, potentially creating a reference customer to accelerate additional commercial applications.
While near-term revenue impact may be modest, the Innovation Campus establishes essential infrastructure for executing on BWXT's project pipeline in high-growth specialized nuclear applications, supporting long-term diversified revenue growth through both government and commercial channels.
"The opening of the BWXT Innovation Campus in
In 2021, BWXT received local and state tax grants worth up to
“This facility is a long-term investment, not only in BWXT, but in
“BWXT is a vital partner in our region’s prosperity.
One of the projects in development at the Innovation Campus involves deploying a demonstration mobile microreactor for the Department of Defense, under the sponsorship of the Strategic Capabilities Office (SCO). Known as Project Pele, this BWXT-designed transportable microreactor will provide clean, reliable energy meeting mission-critical power demands.
“The origins of America’s first Generation IV nuclear reactor are the men and women who are bending metal and producing real hardware,” said Dr. Jeff Waksman, SCO’s program manager for Project Pele. “Through collaborative, efficient teamwork among DoD, the DOE laboratories, and our partners in industry, we are seeing in real time that Project Pele has the promise to provide a reliable, sustainable, resilient, and safe power source for the American warfighter without burdening them with a long logistics tail.”
“The message we’re sending here today is that we are building and delivering new nuclear technology for defense, space and commercial customers,” said Joe Miller, president for BWXT Advanced Technologies. “Our products will revolutionize how nuclear is deployed. Bring us your ideas, the projects that you want to bring to life, and we will put a solution in your hands from this one-of-a-kind facility.”
From concept to reality, the Advanced Technologies team designs, builds and tests new nuclear solutions–from powering electricity and thermal heat in remote locations to rocket propulsion and power during space travel. The team has been involved with NASA and the DOE’s groundbreaking Nuclear Thermal Propulsion design since 2017, focusing on fuel design and engineering, work BWXT continues to support today.
In 2023, BWXT was selected, as part of a joint venture, to deliver the fuel and reactor for the DARPA DRACO program, a partnership between DARPA and NASA to develop a nuclear thermal rocket engine for an in-space demonstration.
The Advanced Technologies team is also working on the BWXT Advanced Nuclear Reactor, or BANR, a high-temperature gas reactor that is being designed to produce 50 MWt using TRISO fuel, and small enough to be transported by rail, ship or truck. BWXT recently signed a letter of intent with Tata Chemicals Soda Ash Partners LLC to explore deploying up to eight BANRs at a mining site in
A video of the BWXT Innovation Campus grand opening is available here.
Forward-Looking Statements
BWXT cautions that this release contains forward-looking statements, including, without limitation statements relating to the performance, impact, and value of the Innovation Campus and of the development and production work being undertaken at the Innovation Campus. These forward-looking statements involve a number of risks and uncertainties, including, among other things, the timing of technology development, our ability to obtain necessary regulatory approvals, licenses and permits in a timely manner 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 Dec. 31, 2024, 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. A
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Media Contact
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202.428.6913 jcdobken@bwxt.com
Investor Contact
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Vice President, Investor Relations
980.365.4300 investors@bwxt.com
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