AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

NuScale and Ukraine’s State Scientific and Technical Center for Nuclear and Radiation Safety Sign Memorandum of Understanding

February 14, 2020 GMT

PORTLAND, Ore.--(BUSINESS WIRE)--Feb 14, 2020--

NuScale Power announced today that it has signed a memorandum of understanding (MOU) with Ukraine’s State Scientific and Technical Center for Nuclear and Radiation Safety (SSTC NRS). NuScale hosted an MOU signing ceremony attended by Mr. Ihor Shevchenko, Director SSTC NRS, Hryhorii Plachkov, Chairman of the State Nuclear Regulatory Inspectorate (SNRIU), and members of the Ukrainian Delegation.

The MOU states that the SSTC NRS and NuScale will collaborate on the regulatory and design gaps between the U.S. and Ukraine processes for the licensing, construction, and operation of a NuScale small modular reactor (SMR) power plant in Ukraine.

“NuScale is pleased to announce this relationship with the SSTC NRS to bring our advanced SMR technology to Ukraine,” said John Hopkins, NuScale Power Chairman and Chief Executive Officer. “The SSTC NRS is an experienced and well-respected scientific and technical support organization that will provide great insight into the best ways that NuScale’s technology can be incorporated into Ukraine’s energy future.”

The SSTC NRS serves as a key advisor to the SNRIU in the review and approval of new nuclear technologies. The SSTC NRS also provides technical advice and independent assessment for the SNRIU to verify compliance with the rules, regulations, and standards of nuclear safety, and conduct data analysis and reporting on the safety of nuclear energy.

“This MOU will advance knowledge about how SMR technology can serve the energy needs of Ukraine,” said Ihor Shevchenko, Director at SSTC NRS. “The results of the evaluation will be integral to the licensing process for SMRs and the future deployment of NuScale’s technology in Ukraine.”

As NuScale moves forward with the stages of production and operations for its first U.S.-based SMR plant that is expected to begin generating power in the mid-2020s, the company has also signed MOUs to explore the deployment of its technology in Canada, Jordan, the Czech Republic, and Romania. NuScale continues to discuss similar agreements with potential customers worldwide, and the MOU with Ukraine is yet another indication of the growing recognition that NuScale is a leader and innovator in SMR technology—changing the power that changes the world.

​​​​​ About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 60 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale’s scalable design – a power plant can house up to 12 individual power modules – offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.

NuScale is headquartered in Portland, Oregon and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; Arlington, Va.; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, and Instagram: nuscale_power. NuScale has a new logo, brand, and website. Watch the short video.

NuScale cautions that this release contains forward-looking statements, including, without limitation, statements relating to management’s plans and expectations for the deployment of NuScale Plants; our ability to realize the anticipated benefits, future revenues and demand for deploying NuScale Plants; and NuScale’s continuing operations. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, our ability to secure firm customer commitments for NuScale Plants, obtain any necessary regulatory and other approvals, and competition in the market for NuScale Plants. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. NuScale cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200214005090/en/

CONTACT: Diane Hughes, NuScale Vice President, Marketing & Communications

dhughes@nuscalepower.com

(C) 503-270-9329

KEYWORD: EUROPE UNITED STATES UKRAINE NORTH AMERICA OREGON

INDUSTRY KEYWORD: NUCLEAR ENERGY

SOURCE: NuScale Power

Copyright Business Wire 2020.

PUB: 02/14/2020 08:00 AM/DISC: 02/14/2020 08:01 AM

http://www.businesswire.com/news/home/20200214005090/en