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Amentum-led Joint Venture selected for $112 Million Clean-up at Four European Nuclear Research Sites

MWN-AI** Summary

Amentum Holdings, Inc. (NYSE: AMTM), in partnership with WSP Italia and subcontractors TUV Rheinland and Protection Solution SRL, has secured a significant framework contract valued at $112 million (€95.7 million) from the European Commission’s Joint Research Centre (JRC). This contract designates the Amentum-led joint venture as the primary contractor for the decommissioning and waste management of nuclear research sites located in Ispra (Italy), Karlsruhe (Germany), Geel (Belgium), and Petten (The Netherlands).

The initiative aims to expedite cleanup at these JRC sites, which have been pivotal in resolving complex nuclear challenges for over six decades. Amentum's extensive experience in managing European-funded projects, particularly its previous involvement with JRC Ispra, contributed to its selection for this contract. Loren Jones, Senior Vice President at Amentum, emphasized the company’s commitment to innovative engineering and effective project management as crucial aspects of their approach.

The comprehensive scope of work under this contract includes decommissioning facilities that handle radioactive materials, including research reactors, hot cells, and other laboratories. The contract is scheduled for two years, with the potential for three two-year extensions, ensuring a long-term commitment to the nuclear cleanup effort. Amentum’s established relationships with regulatory authorities across the EU further bolster its capacity to navigate compliance and operational challenges effectively.

Overall, this contract not only showcases Amentum's capabilities in handling complex nuclear challenges but also reinforces the company's role as a leader in advanced engineering and technology solutions in the nuclear sector across Europe.

MWN-AI** Analysis

The recent award of a $112 million framework contract to an Amentum-led joint venture for the decommissioning and waste management at four European nuclear research sites represents a significant opportunity for investors looking towards sustainable and strategic infrastructure sectors. The contract, backed by the European Commission's Joint Research Centre (JRC), highlights Amentum's robust capabilities in managing complex projects and its strong relationships with regulatory authorities across Europe.

As the global push for safety and sustainability in nuclear energy continues to gain momentum, Amentum's specialized expertise in decommissioning processes positions it favorably within the growing field of nuclear clean-up and waste management. This aligns with heightened global regulatory standards regarding environmental protection and safety, which are expected to drive further investment in decommissioning projects, particularly in Europe.

Investors should consider Amentum’s established reputation and historical success on similar projects, as outlined by its European Development Director, Pavol Stuller. The company’s experience at JRC Ispra presents a reliable track record that could enhance its competitive advantage against peers vying for future contracts. Moreover, Amentum’s partnership with WSP Italia and subcontractors like TUV Rheinland strengthens its operational capacity and resource availability, auguring well for project execution efficiency.

It’s also notable that this contract has a duration of two years, with the potential for three two-year extensions, indicating a long-term revenue stream that could stabilize Amentum's fiscal health. For investors, monitoring Amentum's execution of this contract, and any ensuing contracts, will be crucial in evaluating the company’s growth prospects. Given these considerations, Amentum represents a compelling investment opportunity in a sector poised for expansion, provided that the company continues to meet performance targets and safety standards in this critical industry.

**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.

Source: Business Wire

A joint venture led by Amentum (NYSE: AMTM) has won a new framework contract as the lead decommissioning and waste management contractor for nuclear research sites in four European countries.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310491705/en/

Pavol Stuller, Amentum’s European Development Director, and Laurent Jerrige, JRC Director for Nuclear Decommissioning, signing the contract.

Under the $112 million (€95.7 million) contract, awarded by the European Commission Joint Research Centre (JRC), the Amentum-led JV will provide decommissioning solutions to accelerate the cleanup efforts of JRC sites in Ispra (Italy), Karlsruhe (Germany), Geel (Belgium) and Petten (The Netherlands).

“Amentum’s robust track record of delivering European-funded projects on time and on budget in multiple countries, including prior experience working at JRC Ispra, made us the ideal choice for this contract,” said Loren Jones, senior vice president and head of Amentum’s Energy & Environment-International business. “We will leverage decommissioning and waste management techniques developed at the world’s most complex nuclear sites, integrating innovative solutions to complex technical and project management challenges. Additionally, our strong ties to regulatory authorities across the European Union will serve as a vital asset in ensuring success.”

For more than 60 years, the JRC sites have addressed complex challenges in areas such as nuclear decommissioning, innovation, safeguards and non-proliferation by conducting research, providing scientific advice and supporting European Union policy makers.

The decommissioning and waste management contract will cover structures such as research reactors, hot cells, accelerators, laboratories and other infrastructure where radioactive substances have been handled.

The work will be delivered by an Amentum-led joint venture with WSP Italia, supported by sub-contractors TUV Rheinland and Protection Solution SRL. The JV’s scope of work includes licensing, radioactive waste management, radiation protection, decommissioning and nuclear engineering, worksite management and safety, non-nuclear engineering, facility supervision and quality assurance.

The JRC contract has a duration of two years with three potential two-year extensions.

About Amentum

Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security and sustainability. Our people apply undaunted curiosity, relentless ambition and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, collaboration and well-being are integral to success. Headquartered in Chantilly, Virginia, we have approximately 50,000 employees in more than 70 countries across all 7 continents.

In Europe, Amentum has more than 6,500 people driving the nuclear resurgence in the UK, France, Poland, Slovakia and the Netherlands. Key nuclear energy programs include Hinkley Point C, Sizewell C and Rolls-Royce SMR in the UK, ITER in France, and advising the Polish and Dutch governments on nuclear new build. To support its European customers, Amentum also operates the UK’s largest private sector complex of nuclear laboratories and engineering test facilities.

Visit us at www.amentum.com to learn how we advance the future together.
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Forward-Looking Statements

This press release contains or incorporates by reference statements by Amentum Holdings, Inc. (the “Company”) that relate to future events and expectations and, as such, constitute “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements may be characterized by terminology such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the anticipated work and revenue under the awarded contract, and the Company’s objectives, expectations and intentions, applicable legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements.

A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including, among others: the occurrence of an accident or safety incident; the ability of the Company to control costs, meet performance requirements or contractual schedules; and other factors set forth under Item 1A, Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 27, 2024, which can be found at the SEC’s website at www.sec.gov or the Investor Relations portion of our website at www.amentum.com . Any forward-looking statement speaks only as of the date on which it is made, and the Company assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260310491705/en/

Media Contact:
Stephen Brauner
+44.7875.877120
stephen.brauner@global.amentum.com

Investor Contact:
Nathan Rutledge
IR@amentum.com

FAQ**

How does the new framework contract awarded to Amentum Holdings Inc. AMTM enhance its competitive position in the European nuclear decommissioning market, considering their track record and partnerships?

The new framework contract awarded to Amentum Holdings Inc. strengthens its competitive position in the European nuclear decommissioning market by leveraging its proven track record and strategic partnerships, enabling efficient project execution and enhanced credibility in the sector.

What potential financial impact could the $112 million contract from the European Commission Joint Research Centre have on Amentum Holdings Inc. AMTM's revenue and stock performance over the next few years?

The $112 million contract from the European Commission Joint Research Centre could significantly boost Amentum Holdings Inc.'s revenues and positively influence its stock performance by enhancing its growth prospects and reinforcing investor confidence over the next few years.

How does Amentum Holdings Inc. AMTM plan to leverage its strong ties to regulatory authorities across the EU in delivering the decommissioning and waste management solutions outlined in the contract?

Amentum Holdings Inc. plans to leverage its strong ties to EU regulatory authorities by ensuring compliance with environmental standards and facilitating smoother project execution in the delivery of its decommissioning and waste management solutions.

What risks does Amentum Holdings Inc. AMTM foresee in executing the contract, and how might these affect their operational efficiency and project timelines in the nuclear decommissioning sector?

Amentum Holdings Inc. foresees risks such as regulatory changes, safety compliance challenges, and resource shortages in executing contracts, which could potentially delay project timelines and compromise operational efficiency in the nuclear decommissioning sector.

**MWN-AI FAQ is based on asking OpenAI questions about Amentum Holdings Inc. (NYSE: AMTM).

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