A uranium enrichment license is an official permit from a government or regulator that allows a company to increase the concentration of the fissile isotope in uranium for use in nuclear fuel or other authorized purposes. Investors care because the license signals legal permission to run a key step in the nuclear fuel supply chain, similar to owning a factory permit: it can unlock revenue, raise capital needs, and affect project timelines and regulatory risk exposure.
u.s. nuclear regulatory commissionregulatory
A federal agency that licenses, inspects and enforces safety rules for civilian nuclear power plants and other uses of radioactive materials in the United States. Think of it as the official safety inspector and rulemaker for the nuclear industry—its approvals, inspections, fines and rule changes can speed up or delay projects, change operating costs, and alter legal and financial risk, so its actions directly affect companies’ prospects and investor value.
highly enriched uraniumtechnical
Highly enriched uranium (HEU) is uranium that has been processed to increase the proportion of the fissile isotope U-235—typically above about 20%—making it far more capable of sustaining a chain reaction than natural uranium. Think of it like concentrating the active ingredient in a medicine: greater potency brings stricter controls. For investors, HEU matters because its production, transfer and use draw heavy regulatory oversight, export controls and geopolitical risk that can affect defense contractors, suppliers and related markets.
gas centrifuge machinestechnical
Gas centrifuge machines are high-speed rotating devices that separate different isotopes or components in a gas by using centrifugal force—think of them like an extremely fast spinning laundry machine that pushes heavier particles outward and lighter ones inward. They are most commonly used to concentrate uranium for nuclear fuel or other specialized industrial separations, and they matter to investors because they are capital-intensive, tightly regulated, and can trigger geopolitical, export-control or supply-chain risks that affect company valuations and industry outlooks.
forward-looking statementsregulatory
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
form 10-kregulatory
A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.
form 10-qregulatory
A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.
naval nuclear propulsiontechnical
Naval nuclear propulsion is the use of compact nuclear reactors to provide heat and electricity that drive a warship or submarine, like fitting a small power plant aboard a vessel so it can operate for years without refueling. It matters to investors because building, maintaining and supplying these reactors creates long-term, specialized contracts and costs tied to defense budgets, regulatory approvals, safety liabilities and skilled labor—factors that shape revenue stability, program delays and capital needs for companies involved.
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ERWIN, Tenn.--(BUSINESS WIRE)--
BWX Technologies, Inc. (NYSE: BWXT) announced today that it has notified the U.S. Nuclear Regulatory Commission (NRC) of its plan to apply for a uranium enrichment license for a new facility to be built adjacent to its Nuclear Fuel Services (NFS) facility in Erwin, Tennessee. The notification enables the NRC to plan resources to support its review of the license application, which BWXT expects to submit during the first quarter of 2027.
The licensing effort for the Erwin facility directly supports BWXT’s previously announced $1.5 billion contract with the U.S. Department of Energy’s National Nuclear Security Administration (NNSA). Through this work, BWXT aims to help restore a fully domestic uranium enrichment capability for national defense and naval propulsion missions, building on decades of support to the nation’s defense nuclear programs.
By notifying the NRC, BWXT is initiating the pre-application engagement process. During this period, the company will work closely with regulators to develop and submit a detailed license application that addresses facility design, safety systems, security programs and environmental requirements.
“Establishing reliable U.S. enrichment capacity is critical to ensuring the long-term availability of fuel for naval nuclear propulsion and other national security needs,” said Rex D. Geveden, BWXT’s president and chief executive officer. “Our planned facility will leverage state-of-the-art centrifuge technology and BWXT’s advanced manufacturing expertise to deliver a resilient and secure American supply of enriched uranium.”
The new enrichment facility will utilize technology developed by Oak Ridge National Laboratory through the NNSA-funded Domestic Uranium Enrichment Centrifuge Experiment (DUECE). The project at the Erwin facility will initially demonstrate enrichment in a production environment and will ultimately produce highly enriched uranium for the NNSA Naval Reactors program. Once operational—expected around 2035—the project will create approximately 100 high-skill jobs.
BWXT selected the Erwin site because of its proximity to NFS and its ability to leverage existing NRC regulated nuclear operations, security and safety infrastructure, and a skilled local workforce.
In January, BWXT opened its Centrifuge Manufacturing Development Facility (CMDF) in Oak Ridge, Tennessee. The CMDF serves as BWXT’s primary hub for the design, engineering, fabrication and testing of advanced gas centrifuge machines, accelerating the transition of centrifuge technology from development to production readiness and strengthening the nation’s domestic enrichment capability.
In addition to the CMDF in Oak Ridge and the Erwin Enrichment Facility, BWXT is exploring options to further support the NNSA’s defense fuels program.
Forward-Looking Statements
BWXT cautions that this release contains forward-looking statements, including statements relating to the company’s intent to apply for a uranium enrichment license for a new facility to be constructed 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, agency delay or refusal in granting such uranium enrichment license. 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, 2025, 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 with approximately 10,000 employees, 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, nuclear medicine, space exploration and environmental restoration. BWXT owns and operates 17 manufacturing facilities globally, and its 14 strategic partnerships support the U.S. and Canadian governments at more than two dozen additional locations.
