Materion Will Supply Advanced Materials for MARVEL Microreactor Project

Rhea-AI Summary

Materion Corporation has signed a purchase agreement to supply beryllium and beryllium oxide materials for a nuclear microreactor test bed being developed by Idaho National Laboratory (INL). The test bed will support microreactor development, including the U.S. Department of Energy’s (DOE) Microreactor Applications Research Validation and Evaluation Project (MARVEL). The purchase agreement will begin in 2023.

Positive

• Materion's purchase agreement with INL for beryllium and beryllium oxide materials could positively impact the company's stock price. The agreement will support the development of microreactors, which are gaining increasing attention as transportable clean energy solutions. The project is expected to fast track the development and commercialization of microreactors and their supporting infrastructure.

Negative

• None.

Beryllium and Beryllium Oxide Products to Enable Clean Energy Solutions

MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)-- Materion Corporation (NYSE: MTRN), a global leader in advanced materials solutions, has entered into a purchase agreement to supply beryllium and beryllium oxide materials for a nuclear microreactor test bed being developed by Idaho National Laboratory (INL). This test bed will support microreactor development, including the U.S. Department of Energy’s (DOE) Microreactor Applications Research Validation and Evaluation Project (MARVEL). The purchase agreement will commence in 2023.

“With the increasing focus on developing transportable clean energy solutions, Materion is pleased to be part of the MARVEL project that will fast track development and commercialization of microreactors and supporting infrastructure,” said Clive Grannum, president of Materion Performance Materials. “In addition to INL, Materion is working closely with all our nuclear energy customers, both current and prospective, to align our products with the evolving requirements of the industry today and into the future.”

MARVEL is an experimental sodium-potassium-cooled microreactor under construction that will test microreactor applications and control technologies. It will also test microreactor capabilities for a variety of electrical and nonelectrical applications, including water purification and low-grade heat production for district heating and greenhouse climate control.

“Beryllium is the best neutron reflecting material on the periodic table, and it allows more efficient use of the nuclear fuel,” said Yasir Arafat, INL’s project lead for MARVEL. “Materion has the capability to deliver high-quality, nuclear-grade beryllium for DOE’s MARVEL microreactor.”

About Materion

Materion Corporation is a global leader in advanced materials solutions for high-performance industries including semiconductor, industrial, aerospace & defense, energy and automotive. With nearly 100 years of expertise in specialty engineered alloy systems, inorganic chemicals and powders, precious and non-precious metals, beryllium and beryllium composites, and precision filters and optical coatings, Materion partners with customers to enable breakthrough solutions that move the world forward. Headquartered in Mayfield Heights, Ohio, the company employs more than 3,700 talented people worldwide, serving customers in more than 60 countries.

About Idaho National Lab:

Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science and the environment. For more information, visit www.inl.gov. Follow us on social media: Twitter, Facebook, Instagram and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231016754331/en/

Media

Karen Ducatman

(216) 383-4090

karen.ducatman@materion.com

Investors:

Kyle Kelleher

(216) 383-4931

kyle.kelleher@materion.com

Source: Materion Corporation

FAQ

What is Materion Corporation's purchase agreement with INL for?

To supply beryllium and beryllium oxide materials for a nuclear microreactor test bed.

What is the purpose of the test bed being developed by INL?

To support microreactor development, including the DOE's MARVEL project.

When will the purchase agreement commence?

It will begin in 2023.

What are microreactors used for?

Microreactors have various applications, including water purification and low-grade heat production for district heating and greenhouse climate control.

How could this news impact Materion Corporation's stock price?

The purchase agreement could have a positive impact on the company's stock price as it supports the development and commercialization of microreactors.