TIDMAVG

RNS Number : 1561T

Avingtrans PLC

13 November 2023

13 November 2023

Avingtrans Plc

("Avingtrans" or the "Group")

Hayward Tyler Contract Win

Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, is pleased to announce that its U.S.-based subsidiary, Hayward Tyler Inc., has been awarded a contract by TerraPower for the design and development of Primary and Intermediate Sodium Pumps to support the Natrium(TM) Reactor Demonstration Project This is a multi-phased award over a period of three to four years, beginning in November 2023 and commencing at approximately $10 million.

The Natrium Reactor Demonstration Project is located in Wyoming, in the western United States, and is being developed near a retiring coal plant. Upon completion, the Natrium plant will be a fully functioning commercial power plant.

The pumps being developed as part of this award play a vital role in circulating liquid sodium within the primary heat transport system and transferring coolant to the intermediate heat transport system.

The pumps will undergo a meticulous phased design process, involving the development and testing of multiple sub-components, ensuring the highest level of technical readiness for qualification testing. Hayward Tyler will leverage decades of experience in designing large vertical pumps for the existing civil nuclear fleet, as well as its recent work with the ASME Section 3, Division 5 code.

This award will create new employment opportunities and enhance the capabilities of Hayward Tyler's expanding technical team in Colchester, Vermont. Upon completion of the initial phase, TerraPower may elect to exercise its option to have Hayward Tyler manufacture the production pumps for the demonstration project. The award of this contract presents a significant growth prospect within one of Hayward Tyler's core markets.

Drew Van Norman, President of Hayward Tyler Inc., commented:

"Execution of this contract will build upon years of strong working relationship between Hayward Tyler Inc. and TerraPower in the field of high temperature, nuclear quality and critical-to-function reactor pumps. Hayward Tyler has long appreciated TerraPower's approach to developing and commercialising advanced reactors in an effort to bring high volumes of carbon-free, nuclear energy to a variety of new and traditional consumers . "

ENDS

Enquiries:

 
 Avingtrans plc 
  Roger McDowell, Chairman 
  Steve McQuillan, Chief Executive Officer 
  Stephen King, Chief Financial Officer       01354 692 391 
 Singer Capital Markets (Nominated Adviser 
  and Broker) 
  Shaun Dobson 
  Alex Bond 
  Oliver Platts                               020 7496 3000 
 IFC Advisory (Financial PR) 
  Graham Herring 
  Tim Metcalfe 
  Zach Cohen                                  020 3934 6630

About Avingtrans plc:

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.

Business units

 
Hayward Tyler - Luton, East Kilbride & Nottingham, UK, USA, 
 China and India 
 Specialises in the design, manufacture and servicing of performance-critical 
 motors and pumps for challenging environments. 
 Energy Steel, Inc - Rochester Hills, Michigan, USA 
 Provider of custom fabrications for the nuclear industry, specialising 
 in: OEM parts obsolescence; custom fabrications; engineering 
 design solutions; product refurbishment; on-site technical support. 
 Stainless Metalcraft Ltd - Chatteris, UK 
 Provider of safety-critical equipment for the energy, medical, 
 science and research communities, worldwide, specialising in 
 precision pressure and vacuum vessels and associated fabrications, 
 sub-assemblies and systems. 
 Booth Industries - Bolton, UK 
 Designs, manufactures, installs and services doors and walls 
 which can be tailored to be: blast and explosion proof; fireproof; 
 acoustically shielded; high security/safety; or combinations 
 of the above. 
 Ormandy Group - Bradford, UK 
 Design, manufacturers and servicing of off-site plant, heat exchangers 
 and other HVAC (heating, ventilation and air conditioning) products. 
 Composite Products Ltd - Buckingham, UK 
 Centre for composite technology, parts and assemblies, serving 
 customers in industrial markets. 
 Adaptix Ltd - Oxford, UK 
 Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary 
 applications amongst others. Commercialisation of this system 
 (and others) is on-going. 
 
 Magnetica Ltd - Brisbane, Australia 
 Magnetica Limited specialises in the development of next generation 
 MRI technologies, including dedicated extremity MRI systems and 
 MRI system components. Magnetica has successfully built and tested 
 a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating 
 clinical-quality imaging. Commercialisation of this system (and 
 others) is on-going. Magnetica's structure now includes two other 
 business units: 
 Scientific Magnetics - Abingdon, UK 
 Designs and manufactures superconducting magnet systems and associated 
 cryogenics for a variety of markets including MRI and provides 
 services for Nuclear Magnetic Resonance instruments. 
 Tecmag Inc - Houston, USA 
 Designs, manufactures and installs instrumentation, including 
 consoles, system upgrades, and probes, mainly for Magnetic Resonance 
 Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems.

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END

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