BWXT agrees to sell medical business for USD800 million, retaining minority stake and isotope expertise

Transaction and what BWXT will keep

BWX Technologies (BWXT) said it has agreed to sell its medical business for USD800 million, describing the move as a way to concentrate resources and capital on its core nuclear national security and commercial nuclear power markets.

BWXT said it expects to retain a minority share in the medical business and to continue providing specialised isotope and radiochemical expertise. It also said the transaction, under a Sweden-based private equity firm Nordic Capital, is expected to enable scaling and expansion of radiopharmaceutical capabilities, including developing, manufacturing and delivering products for diagnostic imaging and radiotherapeutic treatments.

BWXT said the medical business employs 300 people in Ottawa and Vancouver in Canada and that it acquired Toronto-headquartered Kinectrics in January 2025 for USD525 million.

Kinectrics capabilities described in BWXT’s announcement

BWXT said Kinectrics operates two core business areas: commercial power services and nuclear medicine.

It said Kinectrics’ commercial nuclear services portfolio includes support for all stages of the nuclear power plant lifecycle and other areas of the related grid ecosystem.

The company also highlighted isotope production connected to its nuclear operations: it produces ytterbium-176, a stable isotope used for the production of non-carrier-added lutetium-177 through irradiation at the Bruce nuclear power plant.

Timing and stated rationale

BWXT said the transaction is subject to regulatory approvals and is expected to close before the end of the year.

In its statement, BWXT said its nuclear operations cover a range of activities, including powering US navy submarines, manufacturing heavy nuclear components, developing advanced reactor fuels, small modular reactors, and advanced nuclear systems for use on space missions by NASA.

Tamil Nadu receives ₹785.21 crore PSDF support for substation modernisation and grid upgrades

The Union government has granted 10 power projects totalling ₹785.21 crore from the power system development fund (PSDF) in Tamil Nadu, according to minister of state for power Shripad Naik. The funding is directed at renovating and modernising substations and supporting technical and IT infrastructure needs.

The scope also includes installation of bus reactors, communications and data acquisition systems, and battery storage system (BESS) deployment. Naik said the state has been sanctioned under the revamped distribution sector scheme (RDSS) for smart metering and distribution infrastructure/loss-reduction, and that renewable energy integration plans involve inter-state transmission system (ISTS) projects currently in active implementation.

He added that Tamil Nadu’s peak electricity demand has been met without deficit over the last five financial years and the current financial year (up to June 2026).

ARC Clean Technology signs multi-year INL framework support for ARC-100 deployment

Framework agreement covers full lifecycle support

ARC Clean Technology has partnered with Idaho National Laboratory for the design, demonstration, and deployment of the ARC-100, a 100 MWe sodium-cooled fast reactor.

Under the multi-year framework agreement, INL support is described as covering “engineering and design, advanced materials and manufacturing, high-performance computing and modelling, irradiation testing, reactor commissioning and operation, and site development; covering the full lifecycle from detailed design through first-of-a-kind deployment.”

The ARC-100 design is stated to use a metallic uranium alloy core and is intended for on-grid electricity production and industrial heat applications.

The technology basis is linked to the Experimental Breeder Reactor-II integral sodium-cooled fast reactor prototype, which operated at Argonne National Laboratory from 1961 until shutting down in 1994.

Supply-chain planning implications: materials, testing, commissioning and regulatory work

The scope laid out in the framework agreement points to multiple supply-chain touchpoints beyond early design, including advanced materials and manufacturing activities, irradiation testing, and commissioning and operation support.

The SOURCE also notes that INL has been involved in ARC’s participation in US Department of Energy programmes, including work that covered fuel design and analysis, Probabilistic Risk Assessment, and regulatory engagement with the Nuclear Regulatory Commission.

ARC previously described a licensing pathway support effort that included a Canadian Nuclear Safety Commission pre-licensing vendor design review, which began in 2017 and concluded there were no fundamental barriers to licensing the SMR.

Project timeline and site-development activities

ARC and New Brunswick Power (NB Power) have been working together on the development of the ARC-100 since 2018.

In July 2023, NB Power, in partnership with ARC, submitted an environmental impact assessment registration document and an application for a site preparation licence for an SMR at the Point Lepreau nuclear power plant site in New Brunswick.

The demonstration unit was targeted for commissioning by 2029, subject to approvals and licensing.