NuScale Power Named Lead SMR Sponsor At Asia Nuclear Business Platform

PORTLAND, Ore.--(BUSINESS WIRE)--

NuScale Power announced today that it will be the Lead Small Modular Reactor (SMR) Sponsor at the Asia Nuclear Business Platform held April 23^rd and 24^th, 2015, at the AsiaWorld-Expo in Hong Kong. NuScale's Chief Strategy Officer, Chris Colbert, is scheduled to make a presentation highlighting NuScale's innovative technology and development status during day one of the conference.

Mike McGough, Chief Commercial Officer for NuScale Power stated, "We are pleased to join this prestigious event to showcase NuScale's Small Modular Reactor technology. As an industry leader we are constantly requested to speak, present and exhibit at Nuclear and other Energy-related conferences around the world. Two weeks ago we presented our current project status at the World-renowned Platt's Nuclear Energy Conference in Washington DC. That presentation may be viewed here. Now we are delighted to have the opportunity to share our progress with prospective NuScale project owners in Asia. Our Chief Strategy Officer, Mr. Chris Colbert, will lead our engagements for this important meeting and we look forward to the discussions."

As the only U.S.-based company established solely for the commercialization of its SMR, NuScale Power has developed a unique and proprietary break-through technology for an innovative, simple, safe, economic and scalable small modular reactor. Natural forces of physics—gravity, convection, and conduction—are used for normal operations and safe shutdown. This eliminates many of the large and complex systems (e.g., reactor coolant pumps, motors, valves, large-diameter reactor coolant system piping) found in today's nuclear power plants and other SMR designs. As a result, the NuScale plant is safe, simpler, and less expensive to build and operate. At 50 megawatts (gross) per module, a NuScale power plant can include as many as 12 NuScale Power Modules^™ to produce as much as 600 MWe (gross).

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 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 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.