NuScale Power wins support for DOE commercialization

Portland, Ore., May 21, 2012 — Backed by broad support from the U.S. electric power industry and elected officials, NuScale Power LLC has submitted its proposal to participate in a U.S. Department of Energy program to accelerate the deployment of small modular reactors.

NuScale has developed this technology for building safer, smaller, scalable nuclear power plants. Using light water reactor technology, the NuScale reactor is cooled by natural circulation, is self-contained and installed underwater and underground to maximize safety.

NuScale’s proposal has broad support from prospective customers, economic development organizations and elected officials from across the U.S. As part of the NuHub economic development organization, South Carolina Gas & Electric, a division of SCANA, has agreed to lead the formation of a consortium to license and operate the first NuScale plant at the Savannah River Site.

NuScale was the first U.S.-based SMR vendor to begin discussions with the U.S. Nuclear Regulatory Commission and has been engaged in pre-application discussions since 2008. The company is on schedule to allow the first plant using its technology to begin commercial operation within the next decade.

A Customer Advisory Board formed in 2008, and now comprised of 17 utilities and organizations, is actively guiding NuScale in the commercialization of its technology. Its membership includes the operators of more than one-half of the 104 operating U.S. nuclear power plants and organizations representing all of the U.S. cooperatively-owned utilities.

The NuScale design approach also received strong endorsement from Energy Northwest, an organization with a 30-year history of nuclear plant operation. Energy Northwest and a group comprised of public and investor-owned utilities conducted a rigorous assessment of all available small modular reactor technologies as part of their long-term energy planning process.

NuScale Power has the financial backing and technical assistance of Fluor Corp., a multi-billion-dollar global engineering firm with a history of more than 60 years in the nuclear new-build market. Fluor has designed, built or provided construction support for 20 nuclear units in the U.S., and provides a full range of procurement and other services to nuclear plant operators worldwide.

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