Effort Will Leverage U.S. Department of Energy Advanced Reactor Demonstration Program Achievements

BWX Technologies, Inc. (NYSE: BWXT) today announced a two-phase, two-year contract with the Wyoming Energy Authority to assess the viability of deploying small-scale nuclear reactors in the state as a source of resilient and reliable energy to augment existing power generation resources.

BWXT Advanced Technologies LLC (BWXT) will execute the two-year contract in close consultation with the State of Wyoming and other Wyoming organizations and companies.

Under phase one of the contract, BWXT will work with Wyoming industries to define the requirements basis for nuclear applications of base heat and power needs of the trona mining operations within the state. BWXT will also perform engineering work to further the design of its integrated “BANR” microreactor system that can integrate into Wyoming’s future power needs. This work will also include identifying areas where Wyoming’s existing supply chain can demonstrate capabilities for reactor component manufacturing and support reactor deployment.

Based on the outcomes of the first phase of the contract, phase two of the contract will entail BWXT furthering the design basis of BANR to meet the specific needs of potential Wyoming end users. A demonstration of the capabilities of Wyoming manufacturers would also be performed to validate the supply chain activities completed in phase one.

Throughout both phases of the contract, BWXT will leverage existing U.S. Department of Energy Advanced Reactor Demonstration Program (ARDP) achievements through the company’s collaboration with Idaho National Laboratory (INL) and other internal BWXT research and development investments. Through the ARDP, BWXT and DOE have been developing the BANR microreactor since 2021, and this effort in Wyoming represents an acceleration of BWXT’s commercial nuclear development efforts.

“At the end of this project, the potential job-creation, manufacturing and industrial opportunities for nuclear power in Wyoming will be clearer, and we will have a roadmap for deploying microreactors in the state,” said Joe Miller, BWXT Advanced Technologies LLC president. “When state and federal agencies work together with the private sector, we expect the economic and environmental benefits of nuclear innovations will be unlocked.”

INL has been providing strategic and technical support to the State of Wyoming under a memorandum of understanding signed on May 4, 2022.

“BWXT and the State of Wyoming are leaders in forging innovative partnerships and innovative business frameworks that will help transform Wyoming’s economy and help secure the nation’s energy future,” said Steven Aumeier, senior advisor for strategic programs at INL.

“BWXT’s microreactor project presents the possibility of creating additional resources for industrial end users in Wyoming – thereby helping further a full value chain nuclear industry in Wyoming, advancing and diversifying our economy,” said Rob Creager, Executive Director of the Wyoming Energy Authority. “Wyoming is in the unique position to be able to contribute funding for these innovative projects and believes this further demonstrates the strength of the Wyoming Energy Authority’s public-private partnerships.”

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements, including statements relating to the performance, design, suitability and impact of the micoreactor design and engineering work to be undertaken by BWXT under the contract with the Wyoming Energy Authority. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the project, execution of future contracts and delays. 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, 2022 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 Lynchburg, Virginia, BWXT is a 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 7,000 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. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.

About Idaho National Laboratory

Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science and the environment. For more information, visit www.inl.gov. Follow us on social media: Twitter, Facebook, Instagram and LinkedIn.

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.@BWXT Awarded Contract to Evaluate Microreactor Deployment for State of Wyoming