BWXT Selected for Nuclear Fuel Deconversion Award by U.S. Department of Energy

LYNCHBURG, Va.--(BUSINESS WIRE)-- BWX Technologies, Inc. (NYSE: BWXT) today announced that its Nuclear Fuel Services, Inc. (NFS) subsidiary was selected by the U.S. Department of Energy (DOE) as one of the successful bidders for High-Assay Low-Enriched Uranium (HALEU) deconversion services to support the civil advanced reactor marketplace.

This is an indefinite-delivery, indefinite-quantity contract where future orders will be solicited by DOE from those who received awards, including NFS. The minimum ordering guarantee is $2 million.

The DOE is scheduled to release more information about this award today, Oct. 8, at 5:30 p.m. E.T.

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, scope and timing of the contract for High-Assay Low-Enriched Uranium (HALEU) deconversion services. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract, delays or other difficulties in the commencement or execution of the contract, the expected duration of the contract, any changes to government appropriations for the contract and the fact that the contract is an indefinite-delivery, indefinite-quantity contract where future orders will be solicited by DOE from those who received awards. 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, 2023 and subsequent 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 NFS

Nuclear Fuel Services, Inc. (NFS) processes highly enriched uranium to manufacture fuel material for all naval nuclear reactors used in U.S. submarines and aircraft carriers. It also provides uranium downblending services to support commercial power needs and national security missions. NFS is a BWX Technologies, Inc. company and is a part of its BWXT Nuclear Operations Group, Inc. subsidiary.

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 7,800 employees, BWXT has 14 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008150395/en/

Media Contact

Chris Dumond

Communications Manager

434.522.5015 cmdumond@bwxt.com

Investor Contact

Chase Jacobson

Vice President, Investor Relations

980.365.4300 investors@bwxt.com

Source: BWX Technologies, Inc.