SNC-Lavalin Signs $254 Million Waste Management Contract Modification with DOE

MONTREAL, June 19, 2020 /CNW Telbec/ - SNC-Lavalin's (TSX: SNC) Isotek Systems, LLC (Isotek) business and the U.S. Department of Energy (DOE) have signed a contract modification to perform processing operations to disposition Uranium-233 (U-233) material through 2024 on the U-233 Disposition Project located at the Oak Ridge National Laboratory (ORNL) in Tennessee. This contract modification is aligned with the company's new strategy moving forward towards engineering services and greater growth.

Since 2003, Isotek, a wholly owned subsidiary of Atkins Nuclear Secured, has been contracted by the DOE to safely and securely oversee the inventory of U-233 and prepare its removal from ORNL's Building 3019, the nation's oldest operating nuclear facility. This contract modification continues that partnership and authorizes $254 million to fund and continue Isotek's mission to safely dispose of more than 80% of the remaining U-233 inventory. To date, approximately half of the inventory has been removed from Building 3019 and directly disposed.

"This contract modification reflects DOE's trust and confidence in Isotek to carry out this very important mission," says Isotek President Jim Bolon.

"We are honored and look forward to continuing this work," says Sandy Taylor, President, Nuclear, SNC-Lavalin. ''The successful partnership we have formed with DOE to accelerate this vital work is a proud achievement for our company."

Since October 2019, Isotek has been processing canisters of U-233 in Building 2026 and shipping the processed material for safe permanent disposal. During the processing of U-233, Isotek is extracting thorium isotope 229 (Th-229). This rare man-made isotope is being used to support cancer treatment research.

About Isote
Isotek Systems, LLC is a DOE contractor under Atkins Nuclear Secured. Since 2003, Isotek has been responsible for safely and securely overseeing the inventory of U-233 and preparing its removal from the Oak Ridge National Laboratory. Since then, employees have transferred and dispositioned approximately half of the inventory. The remaining inventory requires processing and downblending prior to disposal, which began in October 2019. 

About Atkins Nuclear Secured
Atkins Nuclear Secured, a subsidiary of WS Atkins, is a leading provider of specialized, technology based, Q-cleared, nuclear services to government customers. SNC-Lavalin acquired WS Atkins on July 3, 2017. www.atkinsglobal.com

About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects, while offering comprehensive innovative solutions across the asset lifecycle. Our expertise is wide-ranging — consulting & advisory, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and sustaining capital – and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources, supported by Capital. People. Drive. Resultswww.snclavalin.com

SNC-Lavalin
CONTACT: Media, Daniela Pizzuto, Director, External Communications, 514-393-8000, ext. 54772, media@snclavalin.com; Investors, Denis Jasmin, Vice President, Investor Relations, 514-393-8000, ext. 57553, denis.jasmin@snclavalin.com
Web Site: www.snclavalin.com

 

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