Latest news with #HeatherlyDukes
Business Wire
2 days ago
- Business
- Business Wire
BWXT-Led Team Awarded Canadian Nuclear Laboratories Contract from Atomic Energy of Canada Limited
BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today an Atomic Energy of Canada Limited award for the management and operation of Canadian Nuclear Laboratories Ltd. (CNL). Nuclear Laboratory Partners of Canada Inc. (NLPC) is a Canadian joint venture that has been selected as the preferred bidder for managing CNL after a competitive procurement process that . The NLPC team is led by three primary joint venture partners, BWXT, Kinectrics, and Amentum, and a key subcontractor, Battelle. Nuclear Laboratories Partners of Canada Inc. will assume responsibility of CNL, with Dennis Carr as president and CEO, on Sept. 13, 2025, following a transition period that will commence in the coming weeks. The contract, valued at C$1.2 billion per year on average, is for six years with extension periods that can be exercised based on performance for up to a total of 20 years. BWXT's Canadian operations include operating sites in Ontario and British Columbia, employing more than 1,800 people who support the nuclear energy industry. The company is also a certified PAIR-Committed organization supporting Indigenous communities. 'BWXT is honored to lead a dedicated team that will build on decades of impressive work accomplished by the employees of CNL,' said Heatherly Dukes, president, BWXT Technical Services Group, Inc. 'Our management team looks forward to meeting the employees and union leadership of CNL when we begin our transition activities. We are also looking forward to being part of the community and getting to know local leaders and rightsholders.' As Canada's premier nuclear science and technology organization, CNL is a world leader in developing nuclear technology for peaceful and innovative applications. The laboratory maintains a critical portfolio of work that includes development of clean energy sources, innovations in nuclear medicine, and restoration and protection of Canada's environment. Under this new contract, CNL will specifically focus on science and technology, decommissioning and waste management, and Chalk River revitalization missions. The Chalk River Laboratories represent the largest single complex within Canada's science and technology infrastructure. The site contains several licensed nuclear facilities and more than 50 other unique facilities and laboratories. 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 contract to manage and operate Canadian Nuclear Laboratories, Ltd., future work at Canadian Nuclear Laboratories, Ltd., and 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 contract 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, 2024, 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. 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 restoration, nuclear medicine and space exploration. With nearly 10,000 employees, BWXT and its affiliated companies have 20 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. For more information, visit Follow us on LinkedIn, X, Facebook and Instagram.
Yahoo
10-04-2025
- Business
- Yahoo
APTIM, BWX secure $1.4bn contract to manage US Strategic Petroleum Reserve
APTIM and BWX Technologies have been awarded a $1.4bn contract by the US Department of Energy (DOE) to manage and operate the Strategic Petroleum Reserve (SPR). The joint venture (JV), Strategic Storage Partners, will oversee SPR's operations, facilities and systems in Louisiana and Texas for a five-year period, with an option for a five-year extension. Strategic Storage Partners, formed by APTIM Federal Services and BWXT Technical Services Group, will focus on safely managing the SPR's structures and systems. The contract includes maintaining facilities, ensuring quality control and implementing innovative operational approaches. APTIM CEO and chairman of the Strategic Storage Partners board of directors Mark Fallon said: "APTIM is honoured to serve the DOE, the talented and committed SPR workforce and the nation as the SPR fulfils its essential mission of protecting our energy and economic security. APTIM and our partner BWX Technologies will bring the experience, resources and commitment required to deliver." The estimated contract value is $2.6bn over ten years, including a five-year base period and a five-year extension option. The SPR, claimed to be the world's largest emergency crude oil supply with 714 million barrels (mbbl), aims to minimise US petroleum supply disruptions and support the International Energy Programme. Federally owned oil stocks are stored in underground salt caverns at four sites along the Gulf Coast in Texas and Louisiana. BWXT Technical Services Group president Heatherly Dukes said: 'As a premier operator of complex, high-consequence facilities in the US and abroad, BWXT is honoured to join with APTIM in adding this mission to our portfolio of work for the Department of Energy. 'The Strategic Petroleum Reserve is a vital element in protecting our nation's economic and security interests, and we look forward to bringing our expertise in safe, secure, high-quality operations to this vital part of the nation's energy infrastructure.' In July last year, the DOE purchased 4.65mbbl of crude oil for the SPR, bringing the total acquired since 2022 to more than 40mbbl. This acquisition followed the Biden administration's decision to drain the SPR in response to high prices after Russia's invasion of Ukraine. "APTIM, BWX secure $1.4bn contract to manage US Strategic Petroleum Reserve" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
BWXT Joint Venture Awarded Strategic Petroleum Reserve Contract
LYNCHBURG, Va., April 09, 2025--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today a U.S. Department of Energy award to manage and operate the Strategic Petroleum Reserve. Strategic Storage Partners, LLC was formed by lead parent company APTIM Federal Services and BWXT Technical Services Group, Inc. to safely manage and operate the structures and systems of the Strategic Petroleum Reserve. The estimated value of the contract is approximately $2.6 billion over 10 years, comprising a five-year base period and one five-year option. The scope of the contract includes operating and maintaining the Strategic Petroleum Reserve's facilities and related systems, maintaining the highest levels of quality control, developing and implementing innovative approaches to site operations, and adopting practices fostering continuous improvement. "As a premier operator of complex, high-consequence facilities in the U.S. and abroad, BWXT is honored to join with APTIM in adding this mission to our portfolio of work for the Department of Energy," said Heatherly Dukes, president, BWXT Technical Services Group, Inc. "The Strategic Petroleum Reserve is a vital element in protecting our nation's economic and security interests, and we look forward to bringing our expertise in safe, secure, high-quality operations to this vital part of the nation's energy infrastructure." With an authorized storage capacity of approximately 714 million barrels, the Strategic Petroleum Reserve is the world's largest supply of emergency crude oil and was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the International Energy Program. The federally owned oil stocks are stored in huge underground salt caverns at four sites in Louisiana and Texas. Forward-Looking StatementsBWXT 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 contract to manage and operate the Strategic Petroleum Reserve, future work at the Strategic Petroleum Reserve, and 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 contract 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, 2024, 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 BWXTAt BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. A U.S.-based company, 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 restoration, nuclear medicine and space exploration. With approximately 8,700 employees, BWXT has 15 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. For more information, visit Follow us on LinkedIn, X, Facebook and Instagram. View source version on Contacts Media Contact John DobkenSenior Manager, Media & Public Relations202.428.6913jcdobken@ Investor Contact Chase JacobsonVice President, Investor Relations980.365.4300investors@
