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NUSCALE POWER LAUNCHES AMBITIOUS ACTION PLAN FOR UK SMR DEPLOYMENT WITHIN THE NEXT DECADE

Tuesday, September 5, 2017 4:55 pm PDT
"Our UK SMR Action Plan sets out a clear vision for NuScale’s technology to be rolling off production lines in UK factories, generating power for UK homes in the 2020s and transforming the UK into a hub for export into a lucrative global market."

  • NuScale sets out five-point “UK SMR Action Plan” to achieve 2020s deployment via partnership with UK industry.
  • A multi-billion pound UK SMR venture could involve UK companies providing more than 85% of the content required for UK deployments.
  • Unique UK-U.S. partnership on SMRs provides model for future transatlantic collaboration in innovative new technologies.

Leading U.S. nuclear technology developer NuScale Power has today launched a bold action plan for the near-term deployment of innovative small modular reactors (SMRs) in the UK.

In a five-point “UK SMR Action Plan”, NuScale has set out how it will partner with UK industry to deliver a multi-billion pound SMR venture, offering the potential for UK companies to provide more than 85% of the content required for UK deployments.

NuScale’s action plan builds on the strong collaboration it has been developing with UK organisations for the past several years. The company already works in strategic partnership with Ultra Electronics; collaborates with Sheffield Forgemasters via a programme supported by Innovate UK; and partners with the Nuclear Advanced Manufacturing Research Centre.

NuScale Power’s Chief Commercial Officer and Managing Director (UK & Europe) Tom Mundy said:

“Our UK SMR Action Plan sets out a clear vision for NuScale’s technology to be rolling off production lines in UK factories, generating power for UK homes in the 2020s and transforming the UK into a hub for export into a lucrative global market.

“NuScale’s SMR is credible for near-term deployment and will help ensure that the UK meets its future energy challenge head on. A UK-U.S. partnership, involving UK companies potentially providing more than 85% of the content required for UK deployments, demonstrates how the UK and U.S. can work together to develop game-changing technology for the global energy system.

“The window of opportunity is closing, and for the benefits of our UK vision of near-term SMR deployments to be fully realised, decisions must be taken by Government now.”

Spearheading NuScale’s UK vision for the deployment of its SMR technology in the 2020s, the company’s five-point plan includes:

1. A solution to the UK energy challenge: The UK needs SMR deployment in the 2020s as a low-carbon replacement for retiring coal-fired power stations, a replacement for an ageing nuclear fleet (1a), and to meet future capacity from an increased demand from electric vehicles (1b).

2. UK leadership and international partnership: Opportunity for the UK to become a global leader in the development and deployment of innovative nuclear technology, seizing first-mover advantage of a UK-U.S. partnership on SMRs.

3. Delivering for the UK economy: A multi-billion pound SMR venture will boost UK economic growth, productivity and wealth creation by providing high-value jobs, intellectual property rights and export opportunities for the UK’s 65,000-person strong civilian nuclear workforce.

4. Realising the near-team opportunity: UK SMR deployment could be achieved within the next decade, through leveraging NuScale’s mature design, U.S. Government support and pipeline of customer interest.

5. Enabling SMRs via UK Government support: The UK Government can seize this once-in-a-generation SMR opportunity by providing long-term political support, the right market conditions, clarity on the regulatory review process, identification of sites, and continued support for UK nuclear capabilities.

Launch of NuScale’s UK action plan follows the acceptance of the company’s design certification application (DCA) by the U.S. Nuclear Regulatory Commission (NRC) earlier this year – this was the first ever SMR DCA to be submitted to the NRC. It is expected that regulatory approval in the U.S. will be granted in the early 2020s and will support an initial deployment project for NuScale’s first customer from a site in Idaho by the mid-2020s.

ENDS

 Notes for editors

(1a) The UK faces a 40-55% capacity gap due to increased electricity demand coupled with the retirement of coal-fired power stations and an ageing nuclear fleet (Institution of Mechanical Engineers, January 2016).

(1b) A future shift to electric vehicles, with between 23-25 million UK EVs by 2050, could lead to peak demand increasing by as much as 18GW (National Grid, Future Energy Scenarios, July 2017).

For UK press enquiries contact:

Tom Reynolds

07917 796315

tom.reynolds@madano.com

About NuScale Power, LLC

NuScale Power, LLC is developing a new kind of nuclear plant; a safer, smaller, scalable version of pressurized water reactor technology - a technology initially developed and tested at Oregon State University. 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. NuScale's design offers the benefits of carbon-free nuclear power and reduces the financial commitments associated with giga-watt size nuclear facilities.  NuScale technology is ideally suited across diverse platforms including base load electricity, load-following support for renewables, very high-reliability micro-grids, and process heat or steam for district heating, desalination and industrial uses.

At the heart of our technology is the fully factory fabricated NuScale Power Module™, an integral reactor vessel surrounded by a high pressure steel containment, which when coupled to its factory fabricated power generation equipment can produce 50 megawatts of electricity.  A NuScale power plant can house up to 12 of these modules for a total facility output of 600 megawatts (gross).  The scalability afforded by the modular design allows customers to incrementally increase facility output to match demand.  The NuScale Power Module™ is premised on well-established nuclear technology principles with a focus on integration of components, simplification or elimination of systems, and use of passive safety features resulting in highly reliable operation underpinned by an extremely strong safety case and unparalleled asset protection, making it suitable to be sited at locations closer to where electricity or process heat are needed. 

NuScale is headquartered in Portland, Oregon and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. For more information visit: www.nuscalepower.com or follow us on Twitter: @NuScale_Power, @NuScale_UK.

To download the NuScale Power UK Prospectus and to find out more about NuScale Power in the UK visit:

http://www.nuscalepower.com/about-us/nuscale-power-in-uk

 

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