BWXT Awarded Contract for NNSA Defense Fuels Program

OAK RIDGE, Tenn.--(BUSINESS WIRE)-- BWX Technologies, Inc. (NYSE: BWXT) announced today that it has been awarded a contract valued at $1.5 billion by the Department of Energy’s National Nuclear Security Administration (NNSA) to support the national mission of establishing a domestic uranium enrichment capability for defense purposes.

BWXT started construction of its Centrifuge Manufacturing Development Facility in Oak Ridge, Tennessee, in June 2025.

Under the contract, BWXT will initiate requirements to build the Domestic Uranium Enrichment Centrifuge Experiment (DUECE) pilot plant, which includes designing the plant, applying for the necessary licenses, procuring long-lead equipment, preparing the physical site, demonstrating centrifuge manufacturing readiness and operating the plant. The pilot plant will demonstrate low-enriched uranium (LEU) production for NNSA’s defense missions, before ultimately being repurposed to produce highly enriched uranium (HEU) for naval propulsion applications. BWXT will locate the plant at its Nuclear Fuel Services site in Erwin, Tennessee.

To support this effort, BWXT started construction of its Centrifuge Manufacturing Development Facility in Oak Ridge, Tennessee, in June 2025. This marks a critical step forward in the company’s efforts to support NNSA’s establishment of a fully domestic uranium enrichment capability. Once fully operational, the facility is projected to create approximately 100 highly skilled jobs, with additional growth anticipated following the initial phase of start-up testing and low-rate manufacturing demonstrations. The Erwin pilot plant will utilize the centrifuges built in Oak Ridge.

“NNSA’s selection of BWXT for this project acknowledges our long-standing role as a trusted partner in advancing the nation’s nuclear defense mission,” said Rex D. Geveden, BWXT president and chief executive officer. “Once operational, both facilities will enable us to scale manufacturing, so the United States maintains sovereign capability to produce vital nuclear materials for national security.”

In a news release, the NNSA stated, “(p)artnering with commercial industry for this pilot plant helps to establish critical supply chains for enduring defense enrichment requirements and ensures capabilities are ready on time to support mission need dates.”

In April, the state of Tennessee announced BWXT will receive a grant from the state’s Nuclear Energy Fund to support the centrifuge manufacturing project. BWXT acquired nearly 97 acres of land in Oak Ridge for the facility.

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 contract to support the national mission of establishing a domestic uranium enrichment capacity for defense purposes. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract, 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 December 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 nearly 10,000 employees, BWXT and its affiliated companies have 20 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at more than 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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Media Contact

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202.428.6913 jcdobken@bwxt.com

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Source: BWX Technologies, Inc.