Shares of nuclear components and fuel supplier BWX Technologies, Inc. ( BWXT ) are trading higher on Wednesday.

The company has been awarded contracts totaling approximately $2.1 billion from the U.S. Naval Nuclear Propulsion Program.

These agreements are centered on manufacturing reactor components for the Columbia and Virginia class submarines, along with Ford class aircraft carriers.

The work will be carried out at multiple BWX Technologies ( BWXT ) facilities in Lynchburg, Virginia, Barberton and Euclid, Ohio, and Mount Vernon, Indiana, over a seven-year period beginning in 2023.

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Alongside the reactor component contracts, BWX Technologies ( BWXT ) is also responsible for manufacturing nuclear fuel. This contract, valued at around $300 million, was awarded and announced in October 2023. The project is slated for completion by the end of this year.

“For more than 70 years, BWXT has proudly supported the U.S. Navy’s mission to defend freedom and uphold security across the globe,” said BWXT Nuclear Operations Group, Inc. president Gary D. Camper.

“These contracts represent not just our unmatched expertise in naval nuclear power but also our dedication to empowering the Navy with the tools needed to ensure the seas remain free and open.”

Price Action: BWXT shares are trading higher by 2.44% at $109.34 at the last check Wednesday.

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