Avingtrans PLC (AIM:AVG) shares gained in early trade after the company said its US business, Hayward Tyler Inc., has been picked to design and develop production pumps for the Natrium Reactor Demonstration Project in Wyoming in a deal that “presents a significant growth prospect” and will boost the subsidiary’s capabilities.
The multi-phased contract, awarded by TerraPower, will run for three to four years, starting this month with a value of around US$10 million.
The primary and intermediate sodium pumps will have an important role in circulating liquid sodium within the primary heat transport system and transferring coolant to the intermediate heat transport system, Avingtrans said in a statement.
“Hayward Tyler will leverage decades of experience in designing large vertical pumps for the existing civil nuclear fleet, as well as its recent work with the ASME Section 3, Division 5 code,” it noted.
TerraPower has the option to award the contract for manufacturing the production pumps for the demonstration project to Hayward Tyler.
Drew Van Norman, president of Hayward Tyler, said: "Execution of this contract will build upon years of strong working relationship between Hayward Tyler Inc. and TerraPower in the field of high temperature, nuclear quality and critical-to-function reactor pumps.
“Hayward Tyler has long appreciated TerraPower's approach to developing and commercialising advanced reactors in an effort to bring high volumes of carbon-free, nuclear energy to a variety of new and traditional consumers.''
Avingtrans shares climbed 4.86% higher to 377.50p.