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NuScale Power and Ultra Electronics Announce Strategic Partnership

Supply Chain Grows for NuScale’s Safe, Reliable, Carbon-free, Baseload Technology

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Monday, October 19, 2015 6:34 am PDT
"I am pleased with the addition of Ultra Electronics to our expanding team of partners"

PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power LLC and Ultra Electronics are pleased to announce a new strategic partnership to support deployment of the NuScale Power Small Modular Reactor (SMR) fleet worldwide.

The agreement brings Ultra Electronics’ expertise in reactor protection system design, nucleonics instrumentation, nuclear qualified sensors and associated in-core, specialty cabling to the NuScale design team. Rakesh Sharma, CEO of Ultra Electronics stated, “We are delighted to support the development of NuScale’s innovative SMR technology and look forward to developing this relationship.”

Ultra Electronics will work closely with Rock Creek Innovations, a long standing NuScale strategic partner, on the development and deployment of the reactor protection system and other safety-related I&C systems for the NuScale SMR.

“I am pleased with the addition of Ultra Electronics to our expanding team of partners,” said John Hopkins, NuScale’s Chief Executive Officer. “Ultra Electronics’ knowledge and experience in the area of I&C systems will be a powerful asset to NuScale’s SMR design and deployment.”

NuScale Power recently hosted over 230 attendees, including representatives from Ultra, at its NuScale Exposition (also known as NuEx) in Corvallis, Oregon. A notable list of speakers emphasized the important environmental and economic benefits of NuScale’s baseload, carbon-free SMR technology. NuEx attendees were also provided with a rare look into NuScale’s test facilities.

About NuScale

NuScale Power, LLC is developing a new kind of nuclear plant; a safer, smaller, scalable version of pressurized water reactor technology, designed with natural safety features. Fluor Corporation (NYSE: FLR), a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power, is the majority investor in NuScale. As the sole winner of the second round of the U.S. Department of Energy's (DOE) competitively-bid, cost-sharing program to develop nuclear small modular reactor (SMR) technology, NuScale's design offers the benefits of carbon-free nuclear power but takes away the issues presented by the cost of installing large capacity. A nuclear power plant using NuScale's technology is comprised of individual NuScale Power Modules™, each producing 50 megawatts of electricity (gross) with its own factory-built combined containment vessel and reactor vessel, and its own packaged turbine-generator set. A power plant can include as many as 12 NuScale Power Modules to produce as much as 600 MWe, gross (570 net, nominal, after house loads). The reactor coolant is driven by natural circulation and can be shut down safely with no operator action, no AC or DC power, and no external water supply. NuScale power plants are scalable - additional modules are added as customer demand for electricity increases. NuScale's technology also is ideally suited to supply energy for district heating, desalination, and other applications. NuScale is headquartered in Portland, Oregon and has offices in Corvallis, OR; Rockville, MD; and Charlotte, NC. For more information visit: www.nuscalepower.com.

About Ultra Electronics

Ultra Electronics is an internationally successful energy, defense, security and transport company with a long, consistent track record of development and growth. The Group manages a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra has 13 businesses based in North America, with a further 12 around the world. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Group’s highly differentiated products contributing to a large number of platforms and programs. Ultra has world-leading positions in many of its specialist capabilities and, as an independent, nonthreatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra’s systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra’s positions for the long term which underpins the superior financial performance of the Group.

Today Ultra systems are installed at over 500 nuclear plants and facilities around the world, and Ultra sensors protect over 180 of the world reactors.

Contact:

NuScale Power
Mike McGough
Chief Commercial Officer
503.715.2238
mmcgough@nuscalepower.com
or
Ultra Electronics
Susan McErlain
Corporate Affairs
+44 (0)7836 522 722
or
MHP Communications
James White
+44 (0)20 3128 8756

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