NuScale Power to Open Charlotte Office, Host Recruiting Events

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

NuScale Power, LLC announced today that it is opening an operations and engineering center in Charlotte, North Carolina in June—establishing a presence in a major hub of the U.S. nuclear industry, complementing existing operations in Atlanta and Washington, DC.

The new offices will be co-located with Fluor Corporation's Charlotte office, and will initially house approximately 70 engineering, project management, licensing, sales, marketing and business development personnel dedicated to supporting the rapid commercialization of the NuScale Power Module^TM Small Module Reactor (SMR) technology. Fluor Corporation is the majority owner of NuScale.

“This is an important step for NuScale as we continue full speed ahead with the technology that our customers are demanding for commercial operation by 2023. NuScale was the first company to begin efforts to commercialize a Small Modular Reactor, in 2000, long before there were other entrants or the prospects of DOE funds. Our new location in Charlotte will enable access to, and continued recruitment of, top talent in the nuclear industry,” stated John Hopkins, NuScale Power's chairman and chief executive officer. “This is a natural evolution in our objective to become the leading global supplier of small modular reactor technology, systems and services.”

In December 2013, NuScale Power was selected 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 SMR technology. NuScale and DOE are currently negotiating a cooperative agreement that formalizes the public-private relationship and establishes milestones for the five-year funding program.

In advance of the office opening, NuScale plans to host recruiting events in Lynchburg and Charlotte over two to three days in mid-May. For more information, visit our Career Page at www.nuscalepower.com/careers.aspx.

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 45 megawatts of electricity 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 540 megawatts. 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. For more information visit: www.nuscalepower.com.