UK Space Agency Awards Space Reactor Development Project to BWXT and Rolls-Royce

BWX Technologies, Inc. (NYSE: BWXT) announced today that it and Rolls-Royce have secured funding for Phase 2 of the UK Space Agency’s International Bilateral Fund (IBF). The funding enables strategic research collaborations within the UK space sector and emerging space nations to work together on fission nuclear systems for space power missions.

The new $1.5 million award from the fund supports collaboration between Rolls-Royce and BWXT Advanced Technologies LLC (BWXT) to advance the technologies that benefit both the UK and U.S. space nuclear development programs.

The contract further strengthens UK and U.S. collaboration on first-of-a-kind space technology innovation as detailed under the Atlantic Declaration commitment. In an announcement made by UK Prime Minister Rishi Sunak and U.S. President Joe Biden on June 8, 2023, both countries pledged to study “opportunities for co-operation on space nuclear power and propulsion.”

Joe Miller, president of BWXT Advanced Technologies, said, “BWXT and Rolls-Royce share a commitment to creating and delivering nuclear energy systems to explore space, support global security imperatives and generate clean energy. Today’s announcement, and our teaming agreement more broadly, allows our companies to use our complementary areas of expertise for this award and new opportunities to come.”

Abi Clayton, Director of Future Programmes for Rolls-Royce, said, “We are delighted to win the award for the second phase of the International Bilateral Fund and to be continuing our collaboration with the UK Space Agency and our international partner BWXT. This funding will help us move towards identifying the optimum balance of technologies for our microreactor solution that will offer a broad range of space mission flexibility.”

This business collaboration has been cemented in a teaming agreement between Rolls-Royce and BWXT. The teaming agreement facilitates business collaboration and joint developments of new and novel nuclear applications in terrestrial, space and commercial maritime domains that utilize the core nuclear design and manufacturing strengths of each party.

Steve Carlier, President for Rolls-Royce Submarines Ltd, said, “The teaming agreement between Rolls-Royce and BWXT brings together over 130 years of safe and secure nuclear delivery on both sides of the Atlantic. This new agreement builds on our complimentary core competencies and market knowledge from our respective countries. This enables us to build upon our existing relationship and explore potential strategic relationships and business arrangements to further develop nuclear technologies and products.”