The IST facility will include a scaled prototype of the B&W mPower reactor that will undergo extensive testing. All of the technical features of the B&W mPower integral reactor are included in the IST, although the source of energy is electric rather than nuclear. This three-year initiative will collect data to verify the reactor design and safety performance, supporting B&W's licensing activities with the Nuclear Regulatory Commission.
B&W selected the CAER for the IST test facility after an extensive evaluation of various sites. One of the key factors in the decision was a $2.4 million grant provided by the Virginia Tobacco Indemnification and Community Revitalization Commission (TICRC).
"B&W is very pleased to have the support of the Virginia Tobacco Commission in locating our IST facility in Bedford County," said Chris Mowry, President, B&W Nuclear Energy, Inc. (B&W NE). "This facility will play an important role as we move forward with testing and licensing of B&W mPower reactors, while also reaffirming the region as a hub for nuclear technology."
B&W NE and Bechtel Power Corporation recently announced a formal alliance, called Generation mPower, to design, license and deploy B&W mPower nuclear power plants. B&W will focus on designing and testing the reactor, including the design certification application development and submission. Bechtel will complement these responsibilities with integrated engineering and project management leadership.
The IST program is expected to create a number of construction jobs in the near term and a minimum of 10 permanent, full-time positions during the testing phase. Once testing concludes, B&W anticipates using the facility for on-going training of utility professionals who would be operating B&W mPower reactors.
B&W anticipates the IST facility will be operational in 2011.
About B&W
A clean energy technologies innovator based in Charlotte, N.C., The Babcock & Wilcox Company (B&W) designs, engineers, manufactures, supplies, constructs and maintains power generation systems and environmental control systems worldwide for large utility and industrial customers. B&W also manufactures nuclear components and provides various services to the U.S. government, including uranium processing, environmental site restoration services, and facility management and operating services. B&W is a wholly owned subsidiary of McDermott International, Inc. (NYSE: MDR). Learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking Statements
This release contains forward-looking statements, including, without limitation, statements relating to the IST facility, including its planned operation and role relating to the B&W mPower reactor. These forward-looking statements are based on current management plans and expectations and are subject to a number of risks and uncertainties, including, among other things, changes in the timing or operation of the facilities. If one or more of these or other risks materialize, actual results may vary materially from those expected. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. B&W undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
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