Amentum Selected to Evaluate Small Modular Reactor Option in Norway

CHANTILLY, Va.--(BUSINESS WIRE)--Amentum (NYSE: AMTM) and Multiconsult Norge AS were selected by Halden Kjernekraft AS to evaluate the potential for building a small modular reactor (SMR) in Norway, helping Halden municipality to decide whether nuclear power can meet advanced energy needs.

The two companies will carry out an assessment of potential suppliers of equipment and services within Norway and from abroad, as well as reporting on technical standards, environmental impact and other key aspects of any construction program.

Halden Kjernekraft was set up by Norsk Kjernekraft, Østfold Energi and the municipality of Halden, a town in southeast Norway close to the Swedish border, to investigate the construction of a nuclear power plant using SMR technology.

“Working with Multiconsult, we will draw on our extensive knowledge of SMR technology and nuclear supply chains to provide an objective, factual review and assist the municipality of Halden in making a well-informed decision as to whether nuclear power can contribute to solving its future energy needs," said Andy White, Amentum Senior Vice President, Energy & Environment International.

Amentum and Multiconsult are currently carrying out engineering concept design and planning work for the decommissioning of a nuclear fuel and materials testing reactor in Halden, which was operated by Norway’s Institute for Energy Technology.

“We are very pleased to have chosen Amentum and Multiconsult for this task,” said Halden Kjernekraft, Chief Executive Officer Håvard Kristiansen. “Multiconsult has extensive knowledge of the Norwegian supplier industry and the energy sector, while Amentum has rich experience from the establishment of both small modular reactors and larger nuclear power plants in Europe and the UK.”

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, inclusion and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents.

Visit us at www.amentum.com to learn how we advance the future together.

Follow @Amentum_corp on X

Follow Amentum on LinkedIn

Forward-Looking Statements

This press release contains or incorporates by reference statements that relate to future events and expectations and, as such, constitute forward-looking statements under the securities laws, including statements regarding the Reverse Morris Trust transaction (the “transaction”), as described in the information statement filed as Exhibit 99.1 to the Current Report on Form 8-K of Amentum Holdings, Inc. (the “Company”) filed with the Securities and Exchange Commission (the “SEC”) on September 18, 2024 (the “information statement”). These forward-looking statements generally are identified by the words “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, the expected benefits of the transaction, including future financial and operating results and strategic benefits, the tax consequences of the transaction, 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.

For information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see the discussions under the section entitled “Risk Factors” in the information statement. 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.