B&W Awarded $9 Million for Medical Isotope Program
NNSA Cooperative Agreement Funding Will Support Further Development of Low Enriched Uranium System
LYNCHBURG, Va., January 25, 2010
Babcock & Wilcox Technical Services Group, Inc. (B&W TSG) has been awarded approximately $9 million from the National Nuclear Security Administration (NNSA) for the company's medical isotope production program. Awarded under a cooperative agreement, the funding will be used for further development of B&W TSG's patented reactor technology for medical isotope production using low enriched uranium. B&W TSG is an operating unit of The Babcock & Wilcox Company.
B&W TSG and Covidien are developing technology for the manufacture of molybdenum-99 (Mo-99), the parent isotope of technetium-99m (Tc-99m), the most widely used radioisotope in the world for molecular imaging and nuclear medicine procedures. The program has the potential to supply more than 50 percent of U.S. demand for Mo-99.
"U.S. government support of this work is highly beneficial in helping the nation establish a more secure domestic source of medical isotopes without using highly enriched uranium," said S. Robert Cochran, B&W TSG President. "We are gratified that the NNSA has recognized the promise of our program and is willing to assist in its continued development."
"NNSA is committed to supporting technology that offers a new path forward for the creation of a reliable, domestic supply of molybdenum-99 without the use of HEU," said NNSA Administrator Thomas D'Agostino. "We are pleased to have both the technical capability and commercialization expertise available to help resolve a critical U.S. medical community need while supporting President Obama's goal of reducing the risk posed by global use of HEU."
In January 2009, B&W TSG and Covidien announced an agreement that combines Covidien's expertise in radiopharmaceutical production and global regulatory approvals with B&W TSG's patented liquid phase nuclear technology.
About the National Nuclear Security Administration
Established by Congress in 2000, NNSA is a semi-autonomous agency within the U.S. Department of Energy responsible for enhancing national security through the military application of nuclear science in the nation's national security enterprise. NNSA maintains and enhances the safety, security, reliability, and performance of the U.S. nuclear weapons stockpile without nuclear testing; reduces the global danger from weapons of mass destruction; provides the U.S. Navy with safe and effective nuclear propulsion; and responds to nuclear and radiological emergencies in the U.S. and abroad.
About The Babcock & Wilcox Company
The Babcock & Wilcox Company (B&W), a major operating subsidiary of McDermott International, Inc., is a leader in advanced energy technology innovation and service, primarily in nuclear and fossil power. Providing quality products and technical services to commercial and government customers, B&W is focused on issues such as energy efficiency, clean air, global market competitiveness, and safe and secure resolution for nuclear waste. B&W has locations worldwide and employs more than 20,000 people. The company is located on the Internet at www.babcock.com.
###