Source: Street Insider.com | Release | June 6, 2018

BWX Technologies, Inc. (BWXT) announced today that its Idaho National Laboratory (INL) joint venture management contract with lead partner Battelle has been awarded a five-year contract extension. INL is managed by Battelle Energy Alliance (BEA) for the U.S. Department of Energy’s (DOE) Office of Nuclear Energy.

Over the five-year term, the contract is valued at approximately $5 billion. Some key INL initiatives during the term of the contract extension will include providing world-class nuclear science and technology capabilities to the nation, continuing research and development on advanced reactor designs, improving upon INL’s world-leading cyber security capabilities and expertise, and developing integrated energy systems to stabilize the power grid.

The DOE officially approved the contract modification that enabled the five-year extension in April of 2018. The DOE originally awarded BEA the management contract in November of 2004, and with this most recent extension, BEA will operate and manage INL through Sept. 30, 2024.

“This five-year contract extension indicates the DOE’s continued confidence in our joint venture and affords us the opportunity to continue supporting its critical missions,” said Rex D. Geveden, BWXT’s President and Chief Executive Officer. “INL is a premier energy research institution, and our continued affiliation is both a business success and a point of pride.”

INL is one of the DOE’s national laboratories. The laboratory performs work in each of the agency’s strategic goal areas: energy, national security, science and environment. INL is the nation’s leading center for nuclear energy research and development.