UK Space Agency Awards Space Reactor Development Project to BWXT and Rolls-Royce
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The collaboration between BWXT and Rolls-Royce, funded by the UK Space Agency's International Bilateral Fund, represents a significant step in the development of space nuclear power systems. The focus on fission nuclear systems for space power missions addresses a critical need for sustainable and resilient energy sources in space exploration. Space microreactors are particularly promising as they can offer a more reliable and longer-lasting power supply compared to traditional methods, such as solar panels, which can be limited by environmental conditions in space.
From an aerospace engineering perspective, the advancement of space nuclear technology could lead to extended mission durations and enhanced capabilities for manned and unmanned spacecraft. This technology has the potential to support continuous human presence on extraterrestrial bodies like the Moon or Mars by providing the necessary energy for life support, habitat and research activities. Additionally, nuclear propulsion systems could reduce travel time to distant celestial bodies, opening up new possibilities for deep space exploration.
The strategic partnership underlined by this award has implications for the energy sector, particularly in how nuclear technology is leveraged for innovation beyond terrestrial applications. The investment in microreactor solutions by Rolls-Royce and BWXT highlights a growing trend in the diversification of nuclear applications. This move could position both companies as pioneers in the nascent space nuclear power market, potentially creating new revenue streams and markets.
Furthermore, the development of space-grade nuclear technology may have spillover effects on terrestrial nuclear technologies. Improvements in safety, efficiency and miniaturization for space applications could translate into advancements in commercial nuclear reactors and maritime nuclear propulsion systems. For investors, this signals potential long-term growth opportunities in the nuclear sector and reinforces the strategic importance of R&D investment in high-tech collaborations.
The announcement of this collaboration and the subsequent funding award is likely to have a positive impact on the market perception of both BWXT and Rolls-Royce. The partnership not only enhances their current market offerings but also positions them at the forefront of an emerging sector with significant growth potential. The space industry is rapidly evolving and companies that invest in innovative technologies, such as space nuclear power, are likely to gain a competitive edge.
From a market research standpoint, the focus on space nuclear power could drive job creation and investment in the UK space sector. As the UK aims to showcase itself as a spacefaring nation, this project could attract further international partnerships and funding, boosting the UK's space industry. For BWXT and Rolls-Royce, the collaboration could lead to increased market share and influence in both the aerospace and energy sectors, provided they successfully navigate the complex regulatory and technical challenges associated with space nuclear systems.
Award Is Part of Larger Teaming Agreement Between BWXT and Rolls-Royce for Future Collaboration
The new
The contract further strengthens
Joe Miller, president of BWXT Advanced Technologies, said, “BWXT and Rolls-Royce share a commitment to creating and delivering nuclear energy systems to explore space, support global security imperatives and generate clean energy. Today’s announcement, and our teaming agreement more broadly, allows our companies to use our complementary areas of expertise for this award and new opportunities to come.”
Abi Clayton, Director of Future Programmes for Rolls-Royce, said, “We are delighted to win the award for the second phase of the International Bilateral Fund and to be continuing our collaboration with the
This business collaboration has been cemented in a teaming agreement between Rolls-Royce and BWXT. The teaming agreement facilitates business collaboration and joint developments of new and novel nuclear applications in terrestrial, space and commercial maritime domains that utilize the core nuclear design and manufacturing strengths of each party.
Steve Carlier, President for Rolls-Royce Submarines Ltd, said, “The teaming agreement between Rolls-Royce and BWXT brings together over 130 years of safe and secure nuclear delivery on both sides of the Atlantic. This new agreement builds on our complimentary core competencies and market knowledge from our respective countries. This enables us to build upon our existing relationship and explore potential strategic relationships and business arrangements to further develop nuclear technologies and products.”
Professor Anu Ojha, Director of Championing Space at the
Nuclear power, effectively utilized in space, has the capability of delivering a step change in mission capability across an extensive platform of applications. Space microreactors are a solution to meet these requirements in a sustainable and resilient way. All space missions depend on a power source to support systems for communications, life-support and science experiments. Nuclear power has the potential to dramatically increase the duration of future space missions and their scientific value.
Forward Looking Statements
BWX Technologies, Inc. (“BWXT”) cautions that this release contains forward-looking statements, including statements relating to expectations for the development, production, performance, demand, timing and impact of the IBF Phase 2 funding, teaming agreement and any fission nuclear systems. 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 development or 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, 2023 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. Headquartered in
About Rolls-Royce Holdings plc
Rolls-Royce develops and delivers complex power and propulsion solutions for safety-critical applications in the air, at sea and on land. Our products and service packages enable our customers to connect people, societies, cultures and economies together; they meet the growing need for power generation across multiple industries; and enable governments to equip their armed forces with the power required to protect their citizens. Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces and navies, and more than 5,000 power and nuclear customers. To meet customer demand for more sustainable solutions, we are committed to making our products compatible with net zero carbon emissions. Visit us at www.rolls-royce.com.
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Media Contact
Jud Simmons
Senior Director, Media & Public Relations
434.522.6462 hjsimmons@bwxt.com
Investor Contact
Chase Jacobson
Vice President, Investor Relations
980.365.4300 investors@bwxt.com
Source: BWX Technologies, Inc.
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