We Are Focused On Investing Our Capital For The Best Possible Returns To Drive Long-Term Shareholder Value, Utilizing Clear Strategic And Financial Criteria To Guide Our Acquisition Strategy.
In 2024, we were pleased to welcome two new businesses to our commercial nuclear portfolio; both operate within our Naval & Power segment. These businesses joined Curtiss-Wright at a critical time, as operating plant owners across the globe are planning to extend the service life of their reactors, in many cases from 60 years of operation to 80 years, while the leading advanced and small modular reactor designers are building out their supply chains to prepare for future production of these next-generation reactors.
WSC
In April, we added WSC for approximately $34 million, which is a leading supplier of state-of-the-art power plant control room simulation technology supporting the design, commissioning, and reliable operation of commercial and nuclear process plants. WSC has a strong global installed base consisting of approximately 200 ongoing plant simulator projects which are vital to maintaining the reliable operation of existing plants today and remain integral to reactor operator training and licensing. The business is also engaged in simulation assisted engineering, which is the starting point in major plant upgrades and new power plant designs driving optimization of plant equipment design and selection, while the firm's generic simulators are used at universities, regulatory agencies, training centers and plants to offer classroom-based training to the current and next-generation of nuclear plant operators.
This acquisition increases the breadth of Curtiss-Wright's commercial nuclear power plant control room technology, providing additional entry points for our products and services in the modernization of existing power plants as well as new power plants through early visibility and influence in the design phase of leading advanced and SMR technology developers. WSC's proprietary 3KEYMASTERâ„¢ simulation software enhances model development, integration, execution, test, visualization, and analysis within the plant, providing quicker delivery times and lower costs to customers.
Since 2023, WSC has secured numerous awards from TerraPower to support the design and development of their Natrium sodium fast reactor, including the software platform and engineering services, as well as the full-scope simulator that will replicate plant equipment and simulate system conditions and operations to support operator training and licensing.
Curtiss-Wright's WSC business provides Engineering Simulators to enhance efficiency of the initial design phase for power and process plants, as well as Training Simulators that are digital twins of commissioned plants to train operators on plant operations. These simulators are used in commercial nuclear and fossil power plants, process plants, and university nuclear engineering programs and naval applications.
Ultra Energy
In December, we completed the acquisition of Ultra Energy for approximately $200 million, which is a leading global provider of reactor protection and control systems, radiation and neutron monitoring systems, and specialized temperature and pressure sensors. Ultra Energy provides innovative and safety-critical solutions to commercial nuclear and power generation plants globally, focused on the safe operation of the reactor from the core to the control room, by constantly monitoring plant conditions and measuring reactor power and safety management. The business also serves the process markets by providing critical temperature measurement solutions for extreme industrial environments, and supports the Aerospace & Defense markets through its support of the legacy UK nuclear submarine fleet, including current and next-generation ship designs, as well as various military and commercial aerospace applications.
In alignment with our strategic growth priorities, Ultra Energy increases the breadth of Curtiss-Wright's global commercial nuclear portfolio with highly complementary measurement and control solutions supporting plant life extensions and modernization projects of aging power plants. Ultra Energy's UK-based commercial nuclear manufacturing footprint provides an avenue for Curtiss-Wright to increase its aftermarket presence by supporting the U.K. operating fleet with our equipment, services and plant technology. In addition, the acquisition further expands our capabilities and pursuit of new build content on large light water reactors, and also with the leading global designers of advanced and small modular reactors, both in the U.S. and Europe, where a localized supply chain is critical to advancing our potential content.
Together, we expect these acquisitions to become strong contributors to Curtiss-Wright's long-term growth objectives as the commercial nuclear power industry continues to build momentum globally supporting energy independence and decarbonization.
Neutron monitoring systems ensure safe reactor power generation from start-up to full power. They detect neutron flux levels to determine the reactor's core power level, provide actionable information to operators, and integrate with automated safety control and shutdown systems. These systems operate in nuclear plants and research reactors today, while high-temperature designs are in development for advanced reactors.
