NuScale Power Participates In White House Clean Energy Investment Summit

NuScale Power Participates In White House Clean Energy Investment Summit

Highlights SMR Carbon-Free Energy, Cost Competitiveness, Advanced Plant Safety, and Diverse Applications

Tuesday, June 16, 2015 5:05 am PDT
"As the sole remaining recipient of the U.S. Department of Energy's (DOE) competitively-bid, cost-sharing program to develop nuclear small modular reactor technology, the NuScale Power ModuleTM (NPM) will play an important role in this transition to clean, sustainable generation of electricity"

PORTLAND, Ore.--(BUSINESS WIRE)--Responding to the President’s call to action to expand private sector investment in solutions to climate change, NuScale Power LLC announced that CEO John Hopkins is participating in today’s White House Clean Energy Investment Summit at the White House South Court Auditorium in Washington, D.C.

The White House Clean Energy Summit serves as a forum for senior administration officials, foundations, family offices, institutional investors, and others to share ideas and insights on scaling private sector investment in solutions to climate change, including technologies to reduce carbon pollution.

In March, the president issued an executive order mandating a 40 percent cut in carbon dioxide emissions across government agencies, and the list of qualifying clean energy technologies included small modular nuclear (SMR) technologies. As part of the targets, government agencies must get 30 percent of energy from "alternative" technologies by 2025. Those include conventional renewables, conventional fossil fuels with carbon capture, and small modular nuclear reactors.

"As the sole remaining recipient of the U.S. Department of Energy's (DOE) competitively-bid, cost-sharing program to develop nuclear small modular reactor technology, the NuScale Power ModuleTM (NPM) will play an important role in this transition to clean, sustainable generation of electricity," said Mike McGough, NuScale’s chief commercial officer.

As the only U.S.-based company established solely for the deployment and commercialization of its SMR technology, NuScale recently launched the NuScale Diverse Energy Platform (NuDEP), expanding the use of its NPMs to applications beyond traditional grid-based electrical generation to direct support of industrial facilities and integration with renewables.

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, 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. 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; Atlanta, GA; Charlotte, NC; and Chattanooga, TN. For more information visit: www.nuscalepower.com.

Contact:

NuScale Power LLC
Mike McGough, 503-715-2238
Chief Commercial Officer
mmcgough@nuscalepower.com