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 mPower™ Small Modular Reactor
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 <img src="https://ml.globenewswire.com/Resource/Download/c3599433-4825-4cd0-940e-5728e599b149" title="mPower™ Small Modular Reactor" alt="Image courtesy of BWX Technologies, Inc. All rights reserved." />
 <figcaption>Image courtesy of BWX Technologies, Inc. All rights reserved.</figcaption>
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</div>Los Angeles, June 17, 2026 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=AVhLeGPE-WI7w1P0-De91gbhuI4NTAlMnZ3niokbDQ0uEYtzz-AgHm8BawiQ3bCltzsuP8YrZqIqDox_7nUw4opUQe4wKivbmiD-bHqx04c=" rel="nofollow" target="_blank" title="Applied Atomics">Applied Atomics</a> announced today that it has entered a licensing agreement with BWX Technologies, Inc. (NYSE: BWXT) in connection with BWXT’s mPower™ small modular reactor (SMR) technology. Under the agreement, Applied Atomics will have exclusive rights to use mPower in the commercial development and deployment of land-based nuclear facilities in the United States, Canada and elsewhere. BWXT retains ownership of the mPower IP and will hold exclusive manufacturing rights for all mPower components plus royalty rights for any components manufactured by Applied Atomics or other third parties. mPower is designed as an integral pressurized light water reactor that will be manufactured in a factory and shipped by conventional transportation. It is designed to generate 195 megawatts of electricity and 575 MWth of heat per reactor. Its integrated steam generator design eliminates the primary coolant piping found in conventional nuclear plants. By housing all primary components in a single vessel, the mPower design attempts to remove a key failure mode – the LOCA or loss of coolant accident – of traditional reactors. The reactor is designed to use standard low enriched uranium fuel and is designed for a refueling cycle of at least two years. "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. The agreement comes as domestic electricity demand is projected to grow at its fastest rate in a generation, driven in part by data center construction that industry analysts estimate will require more than 300 gigawatts of new power capacity in the United States by 2035. In addition to utilities, Applied Atomics has identified dedicated industrial and technology sector power supply as the primary initial market for mPower deployment, citing the modular plants and site flexibility as well-suited to behind-the-meter and campus-scale configurations. BWXT preserved the mPower engineering archive and test facilities following the program's 2017 suspension. In selecting Applied Atomics, BWXT evaluated partners against criteria including capital commitment and funding capability, deployment intent, nuclear safety culture alignment, market positioning, and its founder’s successful record commercializing other technologies. Under the terms of the agreement, Applied Atomics will re-engage the NRC to resume mPower design certification activities and develop site-specific engineering for initial commercial deployments. Applied Atomics will also contract with BWXT to provide technical support as the licensing process advances. <img height="114" src="https://media.muckrack.com/press_releases/hZ/images/aa-c-lockup-hori-8d044b89-961c-4684-a439-0dbf4703547e.png" width="494" /> About Applied Atomics Applied Atomics is a nuclear energy company focused on the commercial deployment of proven small modular reactor technology. The company holds an exclusive license to commercialize the mPower Generation III+ SMR, designed and manufactured by BWXT Advanced Technologies. Applied Atomics serves industrial, technology, and utility customers actively seeking 100MW to 1GW of firm, carbon-free power. The company is headquartered in Anchorage, Alaska and has a design studio in Los Angeles, CA. applied-atomics.com Additional images, diagrams and executive interview availability upon request. Visit <a href="https://www.globenewswire.com/Tracker?data=cE62kt0HvWTihhagOfrbd5iNnxLu1AYG0RqGCW9XuUqdv4Ve6vn2nSqXoYNcxn70_js0t7GY34cD4r2h5zf-sMLqoym4TwVrzTBuc6oj7Qf77VcnO1DcfocmCam4n_xF" rel="nofollow" target="_blank" title="applied-atomics.com/presskit">applied-atomics.com/presskit</a> for downloads and contact information. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated. Neither Applied Atomics nor BWXT undertakes any obligation to update forward-looking statements. ### Contact Info Leigh D'Angelo <a href="https://www.globenewswire.com/Tracker?data=rnn25injyLnO1Gaj999xfoXbn-Gug4kT_R6tuMDpZS6YdMbqMmxw0_937eYQxGJ3sYyla39bdQ6C1gj5mZWS6NH9NeI0UJJ-7BoWnt90DXHmYWxq79e7p282Hs8lk4xG" rel="nofollow" target="_blank" title="Comms@applied-atomics.com">Comms@applied-atomics.com</a> +1 213-359-1940 
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Applied Atomics Secures Exclusive Land-Based License for mPower™ Small Modular Reactor Technology from BWX Technologies

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