The Babcock & Wilcox Company (B&W) (NYSE:BWC) confirmed today that it plans to apply for a Public-Private Partnership through the U.S. Department of Energy (DOE) for the development of small modular reactor (SMR) technology. A draft Funding Opportunity Announcement (FOA) issued by the DOE outlines a plan to provide investments to private industry to support the design, licensing and manufacturing of SMRs.

"B&W is positioned to deliver a compelling response to the FOA," said Christofer M. Mowry, President of Babcock & Wilcox Modular Nuclear Energy. "The B&W mPower SMR program is well-defined and on an aggressive schedule for deployment."

The B&W reactor is designed to be passively safe and generate 180 MWe. Extensive testing on a prototype is beginning at the Integrated System Test facility to verify the reactor's design and safety performance. Data collected from the testing program will be used to validate the design and support licensing activities with the U.S. Nuclear Regulatory Commission.

About The Babcock & Wilcox Company

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,700 people, in addition to approximately 10,400 joint venture employees. Learn more at www.babcock.com.