The brief

Analyst view

• Prime contractor for Project Pele, the Pentagon's 1.5 MW mobile microreactor demonstration.
• Fabricated and delivered 40,000 TRISO fuel compacts to Idaho National Lab in November 2025.
• Trades as BWXT on NYSE with approximately $15.5 billion market capitalization.

Technical approach

As reported

TRISO Fuel

High-assay low-enriched uranium particles

Spherical uranium particles coated in ceramic layers enabling extreme heat tolerance without active cooling systems.

HTGR Design

Gas-cooled passive safety reactor

Helium circulates through the reactor core, dissipating heat efficiently while relying on geometry rather than active systems.

Mobile Integration

Containerized deployment

Entire reactor and support systems fit in four shipping containers for air or ground transport to remote bases.