Applied Atomics announced it has entered a licensing agreement with BWX Technologies, Inc. (NYSE: BWXT) granting Applied Atomics exclusive rights to use the mPower small modular reactor (SMR) technology for commercial development and deployment of land-based nuclear facilities in the United States, Canada, and other markets.

Under the agreement, BWX Technologies retains ownership of the mPower intellectual property and holds exclusive manufacturing rights for all mPower components. BWX Technologies will also receive royalty rights for any components manufactured by Applied Atomics or third parties.

The mPower reactor is designed as an integral pressurized light water reactor intended to be factory-manufactured and shipped by conventional transportation. It is designed to generate 195 megawatts of electricity and 575 MWth of heat per unit. The design houses all primary components in a single vessel, uses standard low enriched uranium fuel, and is designed for a refueling cycle of at least two years.

BWX Technologies suspended the mPower program in 2017 but preserved its engineering archive and test facilities. Applied Atomics said it will re-engage the Nuclear Regulatory Commission to resume mPower design certification activities and will contract with BWX Technologies for technical support as that process advances.

"BWXT spent a decade working to design mPower. Our job is to complete its development then design and deploy the first optimized, vertically integrated SMR power plant," said Benjamin Kellie, CEO of Applied Atomics.

Applied Atomics identified industrial and technology sector customers as its primary initial market for mPower deployment, citing the design's modularity and site flexibility as suited to behind-the-meter and campus-scale configurations. The company is headquartered in Anchorage, Alaska, with a design studio in Los Angeles.