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LYNCHBURG, Va. — BWX Applied sciences, Inc. (NYSE: BWXT) at this time introduced that its Nuclear Gasoline Companies, Inc. (NFS) subsidiary was awarded a $122 million contract extension from the Tennessee Valley Authority (TVA) for the downblending of extremely enriched uranium (HEU) into low enriched uranium (LEU).
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Below this contract, NFS will proceed to offer downblending providers to the TVA in help of the Nationwide Nuclear Safety Administration’s (NNSA) protection packages goals. This contract extension continues the present downblending operations from July 2025 to June 2027.
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“We’re pleased with the function we play in nationwide protection and happy that we will proceed our work with the TVA and NNSA in help of this mission,” stated Ronald Ok. Dailey, NFS president. “This contract extension additionally allows operations and engineering continuity with our uranium conversion and purification contract with NNSA.”
Downblending is a course of through which HEU is blended with pure uranium leading to LEU wanted for varied industrial and nationwide protection functions. NFS has been downblending HEU since 1995, when it was chosen by the U.S. Authorities to downblend a stockpile of HEU as a part of Mission Sapphire.
Ahead Wanting Statements
BWXT cautions that this launch incorporates forward-looking statements, together with statements regarding the efficiency, timing, affect and worth, to the extent contract worth might be seen as an indicator of future revenues, of the downblending contract. These forward-looking statements contain a variety of dangers and uncertainties, together with, amongst different issues, modification or termination of the contract, delays in efficiency and the receipt and timing of needed regulatory approvals. If a number of of those or different dangers materialize, precise outcomes could differ materially from these expressed. For a extra full dialogue of those and different threat elements, please see BWXT’s annual report on Type 10-Ok for the 12 months ended December 31, 2022 and subsequent quarterly stories on Type 10-Q filed with the Securities and Change Fee. BWXT cautions to not place undue reliance on these forward-looking statements, which converse solely as of the date of this launch, and undertakes no obligation to replace or revise any forward-looking assertion, besides to the extent required by relevant legislation.
About NFS
Nuclear Gasoline Companies, Inc. (NFS) processes extremely enriched uranium to fabricate gasoline materials for all naval nuclear reactors utilized in U.S. submarines and plane carriers. It additionally offers uranium downblending providers to help industrial energy wants and nationwide safety missions. NFS is a BWX Applied sciences, Inc. firm and is part of its BWXT Nuclear Operations Group, Inc. subsidiary.
About BWXT
At BWX Applied sciences, Inc. (NYSE: BWXT), we’re Individuals Sturdy, Innovation Pushed. Headquartered in Lynchburg, Virginia, BWXT is a Protection Information Prime 100 manufacturing and engineering innovator that gives protected and efficient nuclear options for international safety, clear vitality, environmental restoration, nuclear medication and house exploration. With greater than 7,000 workers, BWXT has 14 main working websites within the U.S., Canada and the U.Ok. As well as, BWXT joint ventures present administration and operations at a dozen U.S. Division of Vitality and NASA amenities. For extra info, go to www.bwxt.com. Comply with us on LinkedIn, X, Fb and Instagram.
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Contacts
Media Contact
Laura Bailey
NFS Communications Supervisor
423.735.5494 lebailey@bwxt.com
Investor Contact
Chase Jacobson
Vice President, Investor Relations
980.365.4300 traders@bwxt.com
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