BWXT Awarded CA$40 Million Contract to Supply Heat Exchangers for Bruce Power

BWX Technologies, Inc. (NYSE: BWXT) today announced a contract from Bruce Power valued at approximately CA$40 million to supply four moderator heat exchangers.

The contract, which will be executed by subsidiary BWXT Canada Ltd. at its Cambridge, Ontario facility, involves engineering and fabrication of these specialized components. Moderator heat exchangers are large components that remove heat from the moderator system of CANDU® nuclear reactors.

Engineering work associated with the contract has commenced, with fabrication expected to start later this year. The first two moderator heat exchangers will be delivered in 2024, with the remaining two units scheduled for delivery in 2025.

“These components are designed for reliable, long-term operation to help Bruce Power continue to provide Ontario with non-emitting, stable and cost-effective electricity for many years to come,” said John MacQuarrie, president of BWXT’s Nuclear Power Group. “This contract, along with several others we have with Bruce Power, is sustaining a very significant number of highly skilled jobs for our Cambridge operations.”

BWXT Canada Ltd. has over 60 years of expertise and experience in the design, manufacturing, commissioning and service of nuclear power generation equipment. This includes steam generators, nuclear fuel and fuel components, critical plant components, parts and related plant services.

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 moderator heat exchangers contract. 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, 2020 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, Va., BWXT provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than 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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