19/03/2019 — PORTLAND, Ore. — (BUSINESS WIRE)

Today, NuScale Power announced that it has signed a memorandum of understanding (MOU) with Societatea Nationala Nuclearelectrica SA (SNN SA), a Romanian energy company, to exchange business and technical information on NuScale’s innovative nuclear technology. The goal of the agreement is to evaluate the development, licensing and construction of a NuScale small modular reactor (SMR) for a potential similar long-term solution in Romania. The agreement is the latest sign of growing international interest in NuScale’s innovative nuclear technology.

“With many years of experience in nuclear power, SNN SA understands the unique energy needs of Romania,” said John Hopkins, NuScale Power Chairman and Chief Executive Officer. “NuScale looks forward to showcasing our safe, scalable, and reliable nuclear technology, and collaborating with SNN SA to determine what role NuScale’s technology can play in Romania’s energy future.”

Nuclear power currently provides 20 percent of domestic energy in Romania. Since its founding in 1998, SNN SA has operated the only nuclear power plants in Romania.

“The Department of Energy applauds this important agreement to evaluate how small modular reactor technology could be utilized in Romania,” said U.S. Secretary of Energy Rick Perry. “DOE has been working to support many innovative approaches to power generation, including this groundbreaking technology. We are enthusiastic about the possibilities for the future and being on the cutting edge of nuclear generation technology.”

“As the only nuclear power provider in Romania, we see great potential in SMRs because of the clean, safe, and affordable power they provide,” said Cosmin Ghita, Chief Executive Officer of Nuclearelectrica. “We look forward to working with NuScale to see how their groundbreaking technology can benefit our customers and power Romania’s energy needs.”

NuScale’s technology is the world’s first and only SMR to undergo design certification review by the U.S. Nuclear Regulatory Commission (NRC). The NRC is scheduled to complete its review of NuScale’s design in September 2020. NuScale has also signed MOUs to explore the deployment of its SMR technology in Canada and Jordan.

About NuScale Power

NuScale Power is developing a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 60 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale’s scalable design – a power plant can house up to 12 individual power modules – offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.

NuScale is headquartered in Portland, Oregon and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; Arlington, Va.; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, and Instagram: nuscale_power. NuScale has a new logo, brand, and website. Watch the short video.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190319005232/en/

CONTACT:

Diane Hughes, NuScale Vice President, Marketing & Communications
dhughes@nuscalepower.com
(C) 503-270-9329

KEYWORDS: United States,Europe,North America,Romania,Oregon,

INDUSTRY KEYWORDS: Energy,Nuclear,

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