BWXT secures $ 690 million extension for environmental management work in Portsmouth

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LYNCHBURG, Virginia – (COMMERCIAL THREAD) – BWX Technologies, Inc. (NYSE: BWXT) today announced a contract extension, valued at up to $ 690 million, including options, with the U.S. Department of Energy (DOE) for work for environmental management at the Portsmouth Gas Diffusion Plant.

The deal went into effect on March 29, 2021 and includes a one-year extension with two additional six-month options. Site clean-up has been carried out by the Fluor-BWXT Portsmouth, LLC (FBP) joint venture since contract award in 2010.

FBP is responsible for the decontamination and decommissioning (D&D) of the Portsmouth site. The scope of the project includes the deactivation, demolition and disposal of certain site facilities, processing equipment, associated processing buildings and other ancillary facilities. It also includes ongoing environmental remediation, uranium stewardship and community outreach programs.

“BWXT is very pleased that DOE has extended another contract for major work at Portsmouth in partnership with Fluor,” said Ken Camplin, Chairman of BWXT’s Nuclear Services Group. “We believe that BWXT’s footprint across seven sites supporting the DOE’s environmental management mission demonstrates the breadth and depth of our company’s capabilities in waste management, environmental remediation and waste cleaning. Site (s.

The Portsmouth Gas Diffusion Plant operated from 1954 to 2001. Located in Pike County, Ohio, the site occupies approximately 3,700 acres. The plant was one of three large gas diffusion plants in the United States initially built to produce enriched uranium to support the country’s nuclear weapons program and, later, enriched uranium used by commercial nuclear reactors. The DOE began its environmental clean-up program at the site in 1989, and the effort continues today in cooperation with environmental protection agencies in the United States and Ohio.

Forward-looking statements

BWXT cautions that this press release contains forward-looking statements, including statements relating to performance, timing, impact and value, to the extent that the value of the contract may be taken as an indicator of future financial performance, of extension of the contract. These forward-looking statements involve a number of risks and uncertainties, including, but not limited to, modification or termination of contract extension, non-exercise of options and / or delays. If one or more of these or other risks materialize, actual results may differ 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, 2020. BWXT cautions not to place undue reliance on these statements forward-looking statements, which speak only as of the date of this press release, and assumes 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’re strong, innovation-driven people. Based in Lynchburg, Virginia, BWXT provides safe and efficient nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the United States and Canada. In addition, BWXT joint ventures manage and operate more than a dozen US Department of Energy and NASA facilities. Follow us on Twitter at @BWXTech and learn more about www.bwxt.com.

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