Sydney-headquartered mining services firm Worley (ASX:WOR) has been chosen to build a small modular nuclear reactor for GE Hitachi Nuclear Energy in North America.
Worley Chemetics will design and fabricate the isolation condenser system for the BWRX-300 small modular nuclear reactor (SMR) to support the first grid-scale SMR in North America.
The company, which has a market capitalisation of $7.41 billion, says the isolation condenser system is specialised equipment and a key passive safety feature of the BWRX-300 SMR design.
Worley Chemetics, which recently obtained nuclear certification, will join the BWRX-300 Qualified Supplier Group and produce a prototype for testing before fabricating the isolation condenser systems.
The BWRX-300 SMR will deliver power to the grid as well as supply electricity and/or steam for process heat applications, district heating and hydrogen production.
Worley Chemetics will fabricate the isolation condenser system at its newly expanded alloy fabrication facility in Pickering, Canada.
The facility specialises in alloy vessels, reactors, and heat exchangers for the chemical process and nuclear sectors, and equipment that requires high standards for quality, metallurgy, corrosion science, and specialised welding techniques.
During the 2024 financial year, Worley booked aggregated revenue of $11.62 billion, an 18% increase over the previous financial year, and a 27% year-over-year greater net profit after tax of $416 million.
CEO Chris Ashton said at the time Worley released its earnings that aggregated revenue represents the highest in the company’s history, with increases across all regions and each of the three segments of energy, chemicals and resources.
Worley expects to witness more moderate growth in FY2025 compared to FY2024 as macroeconomic headwinds continue.
Write to Angela East at Mining.com.au
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