The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that William A. (Bill) Fox III has been appointed Senior Vice President and Chief Operating Officer of its majority-owned subsidiary, Generation mPower LLC (GmP). Mr. Fox will report directly to Christofer Mowry, President and Chief Executive Officer of GmP.
GmP is a joint company formed by B&W and Bechtel to design, license and build the next generation of nuclear power plants based on the B&W mPower™ reactor technology. The B&W mPower small modular reactor (SMR) is designed to provide 180 megawatts of carbon-free electricity. It is based on advanced integral pressurized water reactor technology, which incorporates robust, passive safety protection systems within a fully underground containment structure. The B&W mPower design philosophy maximizes the use of proven, mature systems and components within an innovative, plant architecture to reduce licensing and construction risks.
Mr. Fox will have overall GmP responsibility for the operational activities supporting the mPower SMR development program, and the subsequent application for U.S. Nuclear Regulatory Commission (NRC) Design Certification, and all mPower Plant deployment projects, including the lead Clinch River mPower Plant project with the Tennessee Valley Authority (TVA) in Roane County, Tennessee.
“Bill brings strong nuclear engineering, procurement, and construction management experience, as well as important safety culture leadership to Generation mPower,” said Mowry. “His proven management skills developed over 35 years leading major infrastructure projects in the industry will significantly strengthen our GmP organization. As we move forward with mPower licensing and the pre-deployment project for Clinch River and other international activities, Bill’s nuclear expertise and leadership will be a tremendous asset.”About B&W 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 12,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com . About Bechtel Bechtel is among the most respected engineering, project management, and construction companies in the world. It stands apart for its ability to get the job done right—no matter how big, how complex or how remote. Bechtel operates through five global business units that specialize in civil infrastructure; power generation, communications, and transmission; mining and metals; oil, gas and chemicals; and government services. Since its founding in 1898, Bechtel has worked on more than 22,000 projects in 140 countries on all seven continents. Today, its 53,000 employees team with customers, partners and suppliers on diverse projects in nearly 50 countries. www.bechtel.com . Cautionary Statement Regarding Forward Looking Statements B&W cautions that this release contains forward-looking statements, including statements regarding licensing and other activities relating to the mPower SMR program. These forward-looking statements involve a number of risks and uncertainties, including, among other things, our inability to finance B&W mPower research and development efforts, adverse changes in the demand for or competitiveness of nuclear power and changes as a result of regulatory oversight by the NRC or other U.S. Government agencies. 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 B&W's filings with the Securities and Exchange Commission, including its annual report on Form 10-K and quarterly reports on Form 10-Q. B&W 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.
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