Hanford Tank Waste Operations & Closure, LLC Approved to Begin Hanford Tanks Cleanup Contract
BWX Technologies, Inc. (NYSE: BWXT) announces that Hanford Tank Waste Operations & Closure, (H2C) has been approved by the U.S. Department of Energy (DOE) to begin the Hanford Integrated Tank Disposition Contract (ITDC). The DOE issued H2C a notice to proceed, effective October 21, 2024. H2C is a joint venture led by a BWXT subsidiary and includes Amentum and Fluor companies. The contract was awarded earlier in 2024, and a protest against this award was recently dismissed in the U.S. Court of Federal Claims.
The ITDC scope includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and responsibility for other core functions such as project management, security and emergency services, business performance, and environment, safety, health and quality. H2C's leadership team brings 170 years of combined experience in tank waste disposition and disciplined nuclear operations.
BWX Technologies, Inc. (NYSE: BWXT) annuncia che Hanford Tank Waste Operations & Closure (H2C) è stata approvata dal Dipartimento dell'Energia degli Stati Uniti (DOE) per iniziare il Hanford Integrated Tank Disposition Contract (ITDC). Il DOE ha emesso un avviso di avvio a H2C, con effetto dal 21 ottobre 2024. H2C è una joint venture guidata da una sussidiaria di BWXT e include le aziende Amentum e Fluor. Il contratto è stato assegnato all'inizio del 2024 e un ricorso contro questa assegnazione è stato recentemente respinto dalla Corte Federale degli Stati Uniti.
Il campo d'applicazione dell'ITDC include l'operazione delle strutture del serbatoio di Hanford, l'eventuale gestione dell'Impianto di Trattamento e Immobilizzazione dei Rifiuti e la responsabilità di altre funzioni chiave come la gestione dei progetti, la sicurezza e i servizi di emergenza, le prestazioni aziendali e l'ambiente, la salute, la sicurezza e la qualità. Il team di leadership di H2C porta con sé 170 anni di esperienza combinata nella gestione dei rifiuti da serbatoio e nelle operazioni nucleari disciplinate.
BWX Technologies, Inc. (NYSE: BWXT) anuncia que Hanford Tank Waste Operations & Closure (H2C) ha sido aprobada por el Departamento de Energía de EE.UU. (DOE) para comenzar el Hanford Integrated Tank Disposition Contract (ITDC). El DOE emitió un aviso para proceder a H2C, con fecha efectiva del 21 de octubre de 2024. H2C es una empresa conjunta liderada por una subsidiaria de BWXT e incluye a las empresas Amentum y Fluor. El contrato fue otorgado a principios de 2024, y una protesta contra esta adjudicación fue recientemente desestimada en el Tribunal Federal de EE.UU.
El alcance del ITDC incluye la operación de las instalaciones del estanque de Hanford, la eventual operación de la Planta de Tratamiento e Inmovilización de Residuos, y la responsabilidad de otras funciones clave como la gestión de proyectos, seguridad y servicios de emergencia, rendimiento empresarial y medio ambiente, salud y seguridad, y calidad. El equipo de liderazgo de H2C aporta 170 años de experiencia combinada en disposición de residuos de estanque y operaciones nucleares disciplinadas.
BWX Technologies, Inc. (NYSE: BWXT)는 Hanford Tank Waste Operations & Closure (H2C)가 미국 에너지부 (DOE)의 승인을 받아 Hanford Integrated Tank Disposition Contract (ITDC)를 시작한다고 발표했습니다. DOE는 2024년 10월 21일부터 시행되는 H2C에 대한 진행 통지를 발행했습니다. H2C는 BWXT 자회사가 주도하는 합작 투자이며 Amentum 및 Fluor 회사가 포함됩니다. 이 계약은 2024년 초에 수여되었으며, 이번 수여에 대한 항의는 최근 미국 연방 청원 법원에서 기각되었습니다.
ITDC의 범위에는 Hanford 탱크 농장 시설의 운영, 폐기물 처리 및 고형화 플랜트의 궁극적인 운영, 그리고 프로젝트 관리, 보안 및 비상 서비스, 비즈니스 성과, 환경, 안전, 건강 및 품질과 같은 다른 핵심 기능에 대한 책임이 포함됩니다. H2C의 리더십 팀은 탱크 폐기물 처리 및 규범적인 핵발전소 운영에 있어 총 170년의 경험을 가지고 있습니다.
BWX Technologies, Inc. (NYSE: BWXT) annonce que Hanford Tank Waste Operations & Closure (H2C) a été approuvé par le Département de l'Énergie des États-Unis (DOE) pour commencer le Hanford Integrated Tank Disposition Contract (ITDC). Le DOE a délivré à H2C un avis de démarrage, prenant effet le 21 octobre 2024. H2C est une coentreprise dirigée par une filiale de BWXT et comprend les entreprises Amentum et Fluor. Le contrat a été attribué début 2024, et un recours contre cette attribution a récemment été rejeté par la Cour des revendications fédérales des États-Unis.
Le champ d'application de l'ITDC comprend l'exploitation des installations de la ferme de réservoirs de Hanford, l'éventuelle exploitation de l'Usine de Traitement et d'Immobilisation des Déchets, et la responsabilité d'autres fonctions essentielles telles que la gestion de projet, la sécurité et les services d'urgence, la performance commerciale, ainsi que l'environnement, la santé, la sécurité et la qualité. L'équipe dirigeante de H2C apporte 170 ans d'expérience combinée dans la gestion des déchets de réservoir et des opérations nucléaires disciplinées.
BWX Technologies, Inc. (NYSE: BWXT) gibt bekannt, dass Hanford Tank Waste Operations & Closure (H2C) vom US-Energieministerium (DOE) genehmigt wurde, um den Hanford Integrated Tank Disposition Contract (ITDC) zu beginnen. Das DOE hat H2C eine Genehmigung erteilt, die am 21. Oktober 2024 in Kraft tritt. H2C ist ein Joint Venture, das von einer Tochtergesellschaft von BWXT geleitet wird und die Unternehmen Amentum und Fluor umfasst. Der Vertrag wurde Anfang 2024 vergeben, und ein Protest gegen diese Vergabe wurde kürzlich von dem US-Gericht für Bundesansprüche abgewiesen.
Der Umfang des ITDC umfasst den Betrieb der Hanford-Tankfarm-Einrichtungen, die zukünftige Betreibung der Abfallbehandlungs- und Immobilisierungsanlage und die Verantwortung für weitere Kernfunktionen wie Projektmanagement, Sicherheit und Notfalldienste, Unternehmensleistung sowie Umwelt, Gesundheit, Sicherheit und Qualität. Das Führungsteam von H2C bringt 170 Jahre kombinierte Erfahrung in der Abfallentsorgung aus Tanks und disziplinierten nuklearen Operationen mit.
- BWXT-led joint venture H2C awarded major DOE contract for Hanford cleanup
- Contract protest dismissed, clearing way for project commencement
- H2C leadership team brings 170 years of combined experience in tank waste disposition
- None.
Insights
The approval of H2C to begin the Hanford Integrated Tank Disposition Contract marks a significant milestone in nuclear waste cleanup efforts. This $45 billion contract over a potential 10-year period represents one of the largest environmental remediation projects in the U.S. The Hanford site, with its 56 million gallons of radioactive and chemical waste, poses substantial environmental risks.
The joint venture's combined expertise in tank waste disposition and nuclear operations is important for this complex project. The scope, including tank farm operations and the Waste Treatment Plant, addresses critical aspects of the cleanup. This contract could potentially accelerate the cleanup timeline, reducing long-term environmental and health risks associated with the site.
For BWXT, this contract significantly bolsters its position in the nuclear services sector, potentially leading to long-term revenue stability and growth opportunities in similar large-scale environmental projects.
This contract win is a major positive for BWXT, significantly enhancing its long-term revenue visibility. With a potential value of
Investors should note the contract's long-term nature, which provides stability but also ties BWXT to project execution risks. The joint venture structure mitigates some risk but also means shared profits. Key financial metrics to watch include:
- Contract contribution to annual revenue
- Profit margins on this large-scale project
- Cash flow implications, considering potential upfront costs
This contract positions BWXT strongly in the growing nuclear services and environmental remediation markets, potentially leading to further contract wins and expanded market share.
After being previously approved to work on pre-transition activities, the DOE has issued H2C a notice to proceed, effective October 21, 2024. Earlier in 2024, the DOE announced that the contract had been awarded to H2C, which is a joint venture led by a BWXT subsidiary and includes Amentum and Fluor companies. A protest against this award was recently dismissed in the
“We are very excited to begin working with DOE on this incredibly important cleanup mission,” said Heatherly Dukes, president of BWXT Technical Services Group. “H2C’s leadership team has been deployed and brings 170 years of combined experience in tank waste disposition and disciplined nuclear operations.”
The scope of the ITDC includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and responsibility for other core functions such as project management, security and emergency services, business performance, and environment, safety, health and quality.
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 ITDC, future work at the Hanford site, and the award or exercise of any contract options or orders. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the ITDC 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, 2023 and subsequent 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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Source: BWX Technologies, Inc.
FAQ
When will Hanford Tank Waste Operations & Closure, (H2C) begin work on the Hanford Integrated Tank Disposition Contract (ITDC)?
What companies are part of the H2C joint venture for the Hanford cleanup contract (BWXT stock symbol)?
What is the scope of the Hanford Integrated Tank Disposition Contract (ITDC) awarded to H2C?
Was there any legal challenge to the Hanford cleanup contract award to H2C (BWXT)?
