NuScale, Savannah River Sign Agreement to Support SMR Plant Development

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

NuScale Power LLC, said it views its recently signed Memorandum of Agreement with the Savannah River Site (SRS) and Savannah River National Laboratory (SRNL) as further demonstration of the U.S. Department of Energy's commitment to commercialize American-designed small modular nuclear power plants.

SRS, SRNL and NuScale view the MOA as the first step in the potential deployment of a nuclear power plant using NuScale's technology at the site. Design, engineering and testing of NuScale's technology has been underway for more than a decade.

“The Obama Administration continues to believe that low-carbon nuclear energy has an important role to play in America's energy future,” said U.S. Department of Energy Secretary Steven Chu. “We are committed to restarting the nation's nuclear industry and advancing the next generation of these technologies, helping to create new jobs and export opportunities for American workers and businesses.”

“NuScale sees tremendous opportunity in South Carolina and at SRS for the deployment of NuScale's safe, scalable SMR technology,” said Mike McGough, NuScale's vice president of business development. “Deployment of a NuScale-based SMR in South Carolina can provide clean energy, and serve as a boon to economic development at the site and in the region.”

McGough noted that NuScale's strategic partner, Fluor Corporation, already has almost 2,000 employees at its office in Greenville, SC. More than 50 of them are working on design and engineering for NuScale's technology.

NuScale has collaborated with SRNL and SRS for more than a year on the evaluation of the site for a small, modular reactor. Based on NuScale's input, SRS has identified several locations on the 310-square-mile site that likely are suitable for project development.

“Savannah River is doing an excellent job defining how it can support and add value to a project,” said McGough. “As part of NuScale's efforts to develop the first projects using its technology, it is important to know that the SRS is a viable option.”

“We have a unique combination of nuclear knowledge and laboratory expertise, infrastructure, location and much more to make the Site a natural fit for advancing the small modular reactor technology,” said Dr. Dave Moody, DOE-SR Manager. “We are about reinvigorating SRS assets to impact national needs and influence new missions for the future of the Savannah River Site.”

In addition to the MOA, the USDOE recently announced a five-year cost-share program to accelerate the commercial deployment of SMRs. McGough said NuScale intends to compete aggressively to be one of two SMR technologies selected by USDOE. “NuScale's technology is the most mature of the SMR designs with more than a decade of design, engineering and testing behind it. We look forward to working with the DOE and Savannah River to reestablish U.S. leadership in nuclear energy technology that can be exported to a world-wide market that is hungry for the benefits of clean, safe, inexpensive electricity generated by NuScale Power modules,” he said.

About NuScale Power LLC

NuScale Power LLC, is developing an inherently safe, modular, scalable commercial nuclear power technology. NuScale's design offers the benefits of carbon-free nuclear power but takes away the issues presented by installing large capacity. A nuclear power plant using NuScale's technology is comprised of individual NSSS modules; each produces 45 megawatts of electricity with its own combined containment vessel and reactor system, and its own designated turbine-generator set. A power plant can include as many as 12 NuScale integral PWR modules to produce as much as 540 megawatts. NuScale power plants are scalable – additional modules are added as customer demand for electricity increases. These multi-module plants are highly reliable – one unit can be taken out of service for refueling or maintenance, or a new unit added, without affecting the operation of the others.

For more information, visit: www.nuscalepower.com.