NuScale Strengthens Executive Team With General Counsel and VP of HR

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

NuScale Power announced today recent strengthening of its executive team with the hiring of John Eustermann as General Counsel and Carl Britsch as Vice President of Human Resources.

Prior to assuming this position, John Eustermann was Sr. VP, General Counsel & Corp. Secretary at Harvest Power, Inc., a venture-backed company located in Waltham, MA. He was solely responsible for all aspects of legal representation of the company, including acquisitions, project development, financing, intellectual property, general corporate and governance matters, employment, litigation and regulatory compliance.

Carl Britsch brings over twenty years of Human Resources experience to NuScale Power. Carl has worked in HR for a wide variety of industries including automotive, logistics, oilfield services and energy. Early in his HR career, Carl spent nearly ten years with Ford Motor Company including roles in two Ford Assembly plants and a role in the United Kingdom.

"We are not only recruiting top technical talent to NuScale," said John Hopkins, NuScale's Chairman and Chief Executive Officer. "We are also adding top-notch executives who have strengthened a strong leadership foundation for our path towards commercialization—beginning with the submittal of our Design Certification Application to the Nuclear Regulatory Commission (NRC) in 2016. With over 600 people currently on the project, we are now in a strong position to deliver the simple, safe and economical NuScale plant to meet the needs of our customers early next decade."

NuScale will host the first NuScale Exposition (NuEx) on August 20-21, 2015 on site in Corvallis, Oregon. NuEx will provide members of the utility community, investors and other interested parties the opportunity to learn more about the US leader in SMR development, tour its facilities, talk with NuScale senior executives, and interface with suppliers, investors, and state and federal legislators.

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 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.