BWXT-led Team Awarded $45 Billion Environmental Management Contract for DOE’s Hanford Site
18 April 2023 - 6:30AM
Business Wire
BWX Technologies, Inc. (NYSE: BWXT) today announced a contract
with an estimated value of up to $45 billion over a 10-year
ordering period from the U.S. Department of Energy (DOE) for
environmental management operations at the Hanford Site in
Washington.
The DOE announced that the Hanford Integrated Tank Disposition
Contract (ITDC) was awarded to Hanford Tank Waste Operations &
Closure, LLC (H2C), which is a joint venture led by a BWXT
subsidiary and includes subsidiaries of Amentum and Fluor.
“This is the largest single contract award in our company’s
history and is a stair-step achievement as we strengthen our
leadership position in environmental restoration at highly
technical projects across the nation,” said Rex Geveden, BWXT’s
president and chief executive officer. “Our company remains highly
committed to this critical mission for the U.S. Department of
Energy and our emphasis on environmental stewardship and
sustainability more broadly going forward.”
“Our team is honored to take on the largest and most complex
radioactive waste cleanup project in the United States,” said
Heatherly Dukes, president of BWXT’s Technical Services Group. “We
are committed to working with our DOE Environmental Management
customer, regulatory authorities and the Tri-Cities community in
safely reducing the environmental liabilities at the site in an
efficient and effective manner that is protective of the workforce,
the public and the environment.”
The scope of the ITDC includes operation of Hanford tank farm
facilities, eventual operation of the Waste Treatment and
Immobilization Plant, and responsibility for other core functions
such as project management, security and emergency services,
business performance, and environment, safety, health and
quality.
The DOE is engaged in one of the great public works projects of
this century at the Hanford Site near Richland, Washington.
Responsible for the federal government’s cleanup of the legacy of
more than 40 years of producing plutonium through the 1980s, DOE is
transforming the site back into an operations mode to treat tank
waste from the production era. More information is available from
the DOE’s Office of Environmental Management.
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to the performance,
timing, impact and value, to the extent contract value can be
viewed as an indicator of future revenues, of the ITDC, future work
at the Hanford site, or the award or exercise of any contract
options or orders. These forward-looking statements involve a
number of risks and uncertainties, including, among other things,
modification or termination of the ITDC. 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
Fortune 1000 and Defense News Top 100 manufacturing and engineering
innovator that provides safe and effective nuclear solutions for
global security, clean energy, environmental remediation, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230417005637/en/
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
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