Amentum Announces Award for the Management and Operations of Canadian Nuclear Laboratories
Amentum (NYSE:AMTM), a global leader in advanced engineering and innovative technology solutions, announced the award of a significant new contract from Atomic Energy of Canada Limited (AECL) to provide operations and management solutions for Canadian Nuclear Laboratories (CNL). Under this contract, Amentum will help advance nuclear science, technology, and innovation across Canada.
"This contract award reflects our deep expertise in nuclear operations and environmental remediation, and our commitment to delivering safe, reliable, and innovative solutions that serve the best interests of Canada," said Mark Whitney, Amentum's Energy and Environment president. "We will pursue valuable collaborations and partnerships with industry and academia to advance nuclear innovation for the public good."
Valued at approximately CAD$1.2 billion annually on average, the contract was awarded to Nuclear Laboratory Partners of Canada, Inc. (NLPC), a BWXT-led joint venture that includes Amentum, Kinectrics, and Battelle. The contract consists of a six-year base award with extension periods based on performance, up to a total of twenty years. The formal transition of the contract is anticipated to begin this summer.
This strategic joint venture will see Amentum providing comprehensive nuclear operational solutions, research and development, and technical expertise to CNL's extensive nuclear facilities. NLPC aims to enhance Canada's nuclear capabilities, promote safety and environmental stewardship, and foster innovation in nuclear science and technology.
This award reflects Amentum's global leadership and expertise in the nuclear industry. Amentum will leverage its worldwide team of experienced engineering and technical nuclear experts to support Canada's advanced energy and security objectives.
About Atomic Energy of Canada Limited
Atomic Energy of Canada Limited (AECL) is a federal Crown corporation with a mandate to drive nuclear opportunities for Canada. Working through a Government-owned, Contractor-operated (GoCo) model that is executed by its contractor, Canadian Nuclear Laboratories, AECL enables nuclear science and technology through its Chalk River Laboratories, Canada's largest research complex, and by engaging with academia and private industry to advance nuclear innovation. It is committed to advancing reconciliation with Indigenous peoples. It also manages the government of Canada's radioactive waste responsibilities. AECL continues to own the intellectual property for the CANDU® reactor technology and is accountable for deriving optimal benefit from this technology for Canada. Read more on AECL at www.aecl.ca.
About Amentum
Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security and sustainability. Our people apply undaunted curiosity, relentless ambition and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, collaboration and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents.
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Forward-Looking Statements
This press release contains or incorporates by reference statements by Amentum Holdings, Inc. (the "Company") that relate to future events and expectations and, as such, constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements may be characterized by terminology such as "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the anticipated work and revenue under the awarded contract, and the Company's objectives, expectations and intentions, applicable legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements.
A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including, among others: the occurrence of an accident or safety incident; the ability of the Company to control costs, meet performance requirements or contractual schedules; and other factors set forth under Item 1A, Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 27, 2024, which can be found at the SEC's website at www.sec.gov or the Investor Relations portion of our website at www.amentum.com. Any forward-looking statement speaks only as of the date on which it is made, and the Company assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
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