1. AMTM secures a £1.4 billion contract for decommissioning at Sellafield. 2. Amentum will lead waste retrieval and remediation for nuclear sites. 3. Framework extends over 15 years with significant revenue implications. 4. Investment in advanced technologies aims to enhance project efficiency. 5. Spending on remediation expected to increase toward 2040.
Securing a substantial contract bolsters AMTM's future revenue stream and market position. Historical patterns show similar contract wins positively impacted stock prices.
The contract's significant financial implications and technological advancements position AMTM favorably for future growth.
The 15-year commitment indicates sustained business growth, providing long-term stability and revenue. Similar long-term projects have historically strengthened companies' market presence.
Amentum (NYSE:AMTM) has secured positions on a new multi-billion pound framework to deliver expert decommissioning solutions for the Sellafield nuclear site in the United Kingdom.
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Image credit: Sellafield Ltd
Under the 15-year Decommissioning and Nuclear Waste Partnership (DNWP), Amentum will carry out remediation work on disused facilities and retrieve hazardous waste from legacy ponds on the site in Cumbria, England.
After competitive tendering, Sellafield Ltd selected Amentum as the remediation partner for work inside the site's High Security Area and also selected The Decommissioning Alliance (TDA), a joint venture comprising Amentum, AtkinsRéalis and Westinghouse, as pond retrievals partner. The share of the work that could be awarded to Amentum is up to an estimated value of £1.4 billion ($1.9 billion USD).
"We will bring world-class, multidisciplinary, end-to-end engineering and project management capabilities to the UK's most significant nuclear legacy challenges while also delivering outstanding performance on safety, collaboration, social impact and key supply chain management," said Loren Jones, senior vice president, Amentum Energy & Environment–International.
"Our reputation for safe, reliable delivery and the unceasing drive for innovation to answer our client's evolving needs make us the ideal partner to advance the Sellafield mission," said Mark Whitney, president of Amentum Energy & Environment.
As remediation partner, Amentum's focus will be on waste-led decommissioning, including clearance of redundant buildings to make land available for beneficial re-use and preparatory decommissioning work on the UK's oldest nuclear reactor complexes and fuel handling facilities.
Amentum will deploy a full suite of technical offerings during remediation to optimise end-states integration including: digital visualisation to aid engineering design; geospatial data analysis for topographical surveys; robotics and augmented reality; and Threadsafe, an AI-based tool which uses natural language processing and knowledge graphs to map relationships in interlinked document sets such as nuclear safety cases.
As ponds partner, TDA will retrieve hazardous radiological material from the First Generation Magnox Storage Pond and the Pile Fuel Storage Pond, so that it can be treated and moved to modern storage and disposal facilities.
To accelerate retrievals, Amentum will deploy pioneering, robot-operated technology such as the Bulk Sludge Retrieval Tool, a vacuum suction system for safely removing radioactive sludge from nuclear fuel ponds and pumping it away for processing and packaging. Remotely operated vehicles will be used for inspection, sampling, retrieval, cutting and handling of waste in high-radiation zones, enabling safer and more efficient high-hazard reduction, while innovative methods for transferring radioactive waste from storage skips into shielded containers will improve efficiency by reducing overall volumes.
The DNWP framework covers operational nuclear facilities and those which are undergoing post-operational clean out, decommissioning and demolition.
Sellafield Ltd expects spending on remediation to increase between now and 2040, subject to public spending constraints, as more facilities on the site cease operations. The DNWP framework will be Sellafield's route to market for end-to-end, high-hazard risk reduction programs.
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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Amentum in the United Kingdom
With more than 6,000 people in the UK, Amentum is the delivery partner for program, project and construction management services at Hinkley Point C; sole program and project management delivery partner at Sizewell C; and also supports the UK's existing nuclear power stations under a Lifetime Enterprise Agreement with EDF. It is a major supplier of engineering design, safety case and project management at Sellafield and other UK nuclear decommissioning sites and operates the country's largest private sector complex of nuclear laboratories and engineering test facilities in Warrington.
In the defence sector, Amentum has an essential role in the UK's continuous at-sea deterrent by providing safety advice and technology services for the Royal Navy's nuclear submarines and program management and engineering support for AWE. Amentum's specialist teams also assist procurement and operational delivery of goods and services across the whole of the UK Ministry of Defence.
Forward-Looking Statements
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