13 November 2023
Avingtrans Plc
("Avingtrans" or the "Group")
Hayward Tyler Contract Win
Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, is pleased to announce that its U.S.-based subsidiary, Hayward Tyler Inc., has been awarded a contract by TerraPower for the design and development of Primary and Intermediate Sodium Pumps to support the NatriumTM Reactor Demonstration Project This is a multi-phased award over a period of three to four years, beginning in November 2023 and commencing at approximately $10 million.
The Natrium Reactor Demonstration Project is located in Wyoming, in the western United States, and is being developed near a retiring coal plant. Upon completion, the Natrium plant will be a fully functioning commercial power plant.
The pumps being developed as part of this award play a vital role in circulating liquid sodium within the primary heat transport system and transferring coolant to the intermediate heat transport system.
The pumps will undergo a meticulous phased design process, involving the development and testing of multiple sub-components, ensuring the highest level of technical readiness for qualification testing. Hayward Tyler will leverage decades of experience in designing large vertical pumps for the existing civil nuclear fleet, as well as its recent work with the ASME Section 3, Division 5 code.
This award will create new employment opportunities and enhance the capabilities of Hayward Tyler's expanding technical team in Colchester, Vermont. Upon completion of the initial phase, TerraPower may elect to exercise its option to have Hayward Tyler manufacture the production pumps for the demonstration project. The award of this contract presents a significant growth prospect within one of Hayward Tyler's core markets.
Drew Van Norman, President of Hayward Tyler Inc., commented:
"Execution of this contract will build upon years of strong working relationship between Hayward Tyler Inc. and TerraPower in the field of high temperature, nuclear quality and critical-to-function reactor pumps. Hayward Tyler has long appreciated TerraPower's approach to developing and commercialising advanced reactors in an effort to bring high volumes of carbon-free, nuclear energy to a variety of new and traditional consumers.''
ENDS
Enquiries:
|
Avingtrans plc Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
|
01354 692 391 |
|
Singer Capital Markets (Nominated Adviser and Broker) Shaun Dobson Alex Bond Oliver Platts
|
020 7496 3000 |
|
IFC Advisory (Financial PR) Graham Herring Tim Metcalfe Zach Cohen |
020 3934 6630 |
About Avingtrans plc:
Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.
Business units
|
Hayward Tyler - Luton, East Kilbride & Nottingham, UK, USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Energy Steel, Inc - Rochester Hills, Michigan, USA Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support. Stainless Metalcraft Ltd - Chatteris, UK Provider of safety-critical equipment for the energy, medical, science and research communities, worldwide, specialising in precision pressure and vacuum vessels and associated fabrications, sub-assemblies and systems. Booth Industries - Bolton, UK Designs, manufactures, installs and services doors and walls which can be tailored to be: blast and explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above. Ormandy Group - Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products. Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. Adaptix Ltd - Oxford, UK Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary applications amongst others. Commercialisation of this system (and others) is on-going.
Magnetica Ltd - Brisbane, Australia Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units: Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments. Tecmag Inc - Houston, USA Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems. |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
