BWXT Moving Forward to Support National Security, Domestic Uranium Enrichment Mission
BWX Technologies, Inc. (NYSE:BWXT) announced today an additional step in BWXT's long-term commitment to rebuilding the nation's domestic uranium enrichment capability: the acquisition of approximately 97 acres of land in the Horizon Center Industrial Park in Oak Ridge, Tennessee.
This strategic land acquisition is a signal of BWXT's intent to support future defense missions by supporting the U.S. Department of Energy's National Nuclear Security Administration (NNSA) and deployment of the Domestic Uranium Enrichment Centrifuge Experiment (DUECE) technology from Oak Ridge National Laboratory (ORNL) for unobligated enriched uranium.
BWXT's investment in the new Oak Ridge site includes future plans for establishing advanced centrifuge manufacturing capability and specialized support services. The project is expected to create hundreds of new jobs in the region over the next decade and unleash millions of dollars in further investments.
"The Oak Ridge community is a hub of innovation and nuclear expertise ready to support the NNSA's national security mission," said Kevin McCoy, president of BWXT Government Operations. "The deployment of the domestically manufactured DUECE centrifuge resets our nation on the path to energy independence."
The BWXT Oak Ridge site will support the establishment of a reliable, long-term domestic supply of enriched uranium, an essential component for the nation's defense. The NNSA's DUECE program, developed and designed by ORNL, is intended to advance uranium enrichment expertise and technology for current and future U.S. national security needs. According to the NNSA, the U.S. Government currently lacks the ability to enrich uranium to support defense missions. This program is working to establish a new capability in time to meet national security needs using centrifuge technologies.
In August 2024, the NNSA awarded BWXT a year-long engineering contract to evaluate options for deploying a centrifuge pilot plant. That study is progressing on schedule and could inform future potential work at the site.
Forward-Looking Statements
BWXT cautions that this release contains forward-looking statements, including, without limitation statements relating to the performance, timing, impact, and value of the new land acquisition, future plans regarding the establishment of advanced centrifuge manufacturing capabilities and specialized support services, and the NNSA engineering contract for the potential deployment of a centrifuge pilot plant. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contracts, funding of current and future work and delays in performance. 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 U.S.-based company, BWXT is a Fortune 1000 and 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 8,700 employees, BWXT has 15 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. For more information, visit www.bwxt.com. Follow us on LinkedIn, X, Facebook and Instagram.
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