Curtiss-Wright Congratulates X-energy on Securing Partnership With Amazon to Support the Deployment of the Xe-100 Advanced Small Modular Reactor

Rhea-AI Summary

Curtiss-Wright (NYSE:CW) congratulates X-Energy Reactor Company on its collaboration with Amazon to generate and deliver over 5 gigawatts of new power projects across the U.S. by 2039, marking the largest commercial deployment target of Small Modular Reactors (SMRs) to date. The partnership aims to support carbon-free projects using X-energy's Xe-100 advanced SMRs and includes long-term power purchase agreements for Amazon's operations, including data centers.

X-energy plans to build one of North America's first grid-scale advanced nuclear reactors in Washington state, initially supporting a four-unit 320-megawatt high-temperature gas reactor plant with potential expansion to 12 units and 960 MW. Curtiss-Wright, as a preferred strategic supplier, is designing and developing three critical systems for the Xe-100 reactor: the Helium Circulator System, Fuel Handling System, and Reactivity Control and Safe Shutdown System.

Positive

• Curtiss-Wright is a preferred strategic supplier for X-energy's Xe-100 reactor project
• The partnership between X-energy and Amazon targets 5 gigawatts of new power projects by 2039
• Curtiss-Wright is designing three critical systems for the Xe-100 reactor
• The project includes potential expansion from 4 units (320 MW) to 12 units (960 MW)

Negative

• None.

Insights

Nuclear Energy Expert

X-energy's partnership with Amazon marks a significant milestone in the commercial deployment of Small Modular Reactors (SMRs). The plan to generate over 5 gigawatts of power by 2039 is unprecedented in scale for SMRs. This collaboration could potentially accelerate the adoption of advanced nuclear technology in the private sector.

The Xe-100 reactor's dual capability to generate electricity and provide process heat makes it versatile for various industrial applications. The 320-megawatt high-temperature gas reactor plant planned in Washington state, with potential expansion to 960 MW, demonstrates the scalability of this technology.

Curtiss-Wright's involvement in designing critical systems for the Xe-100 reactor positions them well in the growing SMR market. Their expertise in nuclear reactor technologies, particularly in safety-critical systems, will be important for the success of this project and potentially for future SMR deployments.

Tech Industry Analyst

Amazon's commitment to powering its data centers with advanced nuclear technology is a game-changer for the tech industry's approach to sustainable energy. This move could set a new standard for how large tech companies address their enormous energy needs while striving for carbon neutrality.

The long-term power purchase agreements between Amazon and X-energy signify a shift towards more stable, long-term energy planning in the tech sector. This could potentially influence other tech giants to consider similar partnerships, driving further innovation and investment in advanced nuclear technologies.

For investors, this partnership highlights the growing intersection between the tech and energy sectors, opening up new opportunities in companies that can bridge these industries. Curtiss-Wright's position as a key supplier in this project could make it an attractive option for those looking to invest in the future of nuclear energy and its applications in tech.

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE:CW) congratulates X-Energy Reactor Company, LLC (X-energy) on its collaboration with Amazon to generate and deliver more than 5 gigawatts of new power projects across the U.S. by 2039, representing the largest commercial deployment target of Small Modular Reactors (SMRs) to date. The partnership will support future carbon-free projects that will use X-energy’s Xe-100 advanced SMRs as well as long-term power purchase agreements to power Amazon operations, including energy-intensive data centers.

Through its collaboration with Amazon, X-energy plans to build one of North America’s first grid-scale advanced nuclear reactors with Energy Northwest in Washington state, initially supporting one four-unit 320-megawatt (MW) high-temperature gas reactor plant with the option to increase that project to 12 units and 960 MW.

In September 2022, Curtiss-Wright and X-energy signed a preferred strategic supplier agreement to advance the design and deployment of X-energy’s advanced reactor, which is expected to provide the capability to both generate electricity or provide process heat for industrial applications. Under the terms of that agreement, Curtiss-Wright was selected to design and develop three of the most critical systems for the Nuclear Steam Supply System (NSSS) on the Xe-100 reactor, including the Helium Circulator System, Fuel Handling System and the Reactivity Control and Safe Shutdown System.

“On behalf of Curtiss-Wright and our entire commercial nuclear team, I would like to congratulate X-energy on solidifying this relationship to meet the growing power needs of Amazon’s data centers. We remain excited and aligned with the X-energy team as they continue to advance their next-generation reactor design and expand the breadth of customer applications,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation.

“Curtiss-Wright continues to build on its heritage as one of the leading global suppliers of nuclear reactor technologies, and we remain committed to delivering innovative, safety-critical solutions to our customers and the nuclear industry. We remain in a unique position to support X-energy and other advanced SMR developers in their efforts to provide carbon-free energy supporting both electricity and process heat applications.”

X-energy's Xe-100 is a Generation IV, High-Temperature Gas-cooled Reactor optimized to deliver 320 MW of electric output. The reactor can provide clean, reliable, and safe baseload power to an electricity system or support various industrial applications. X-energy is developing its initial Xe-100 plant at Dow Inc.’s UCC Seadrift Operations manufacturing site on the Texas Gulf Coast. In addition, X-energy’s advanced reactor technology offers remarkable efficiency and resiliency to meet the requirements of energy-intensive data centers.

Curtiss-Wright maintains one of the most comprehensive and diverse portfolios of advanced nuclear power equipment, technology, and services globally to support both operating reactors and new build opportunities. For more information about Curtiss-Wright’s nuclear reactor technologies supporting advanced nuclear reactors, please visit the Company’s Nuclear division at www.cwnuclear.com and EMS division at www.cw-ems.com or connect with us on LinkedIn.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE: CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of approximately 8,600 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including statements relating to Curtiss-Wright Corporation's expectations of future performance of our system designs for this X-energy nuclear program, the continued relationship with a new customer, the successful implementation and the success of this reactor program and future opportunities associated with this program, are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. The Company assumes no obligation to update any forward looking information contained in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in US and Foreign government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities Exchange Act of 1934, as amended, for further information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241016095381/en/

Jim Ryan

(704) 869-4621

jim.ryan@curtisswright.com

Source: Curtiss-Wright Corporation

FAQ

What is the collaboration between X-energy and Amazon for Curtiss-Wright (CW)?

X-energy and Amazon are collaborating to generate and deliver over 5 gigawatts of new power projects across the U.S. by 2039 using X-energy's Xe-100 advanced Small Modular Reactors (SMRs). Curtiss-Wright (CW) is a preferred strategic supplier for the Xe-100 reactor project, designing and developing three critical systems for the Nuclear Steam Supply System.

What systems is Curtiss-Wright (CW) developing for X-energy's Xe-100 reactor?

Curtiss-Wright (CW) is designing and developing three critical systems for X-energy's Xe-100 reactor: the Helium Circulator System, Fuel Handling System, and the Reactivity Control and Safe Shutdown System.

What is the initial capacity of X-energy's planned nuclear reactor plant in Washington state?

X-energy plans to build a four-unit 320-megawatt (MW) high-temperature gas reactor plant in Washington state, with the option to expand to 12 units and 960 MW.

How does the X-energy and Amazon collaboration impact Curtiss-Wright's (CW) business?

The collaboration strengthens Curtiss-Wright's (CW) position as a preferred strategic supplier for X-energy's Xe-100 reactor project. It potentially increases the demand for CW's nuclear reactor technologies and services, as the project aims to deploy a significant number of Small Modular Reactors (SMRs) by 2039.