Business Wire

NuScale and Nuclearelectrica Reach Agreement at COP26 to Initiate the Deployment of the First Small Modular Reactor in Europe

Share

At the United Nations Conference on Climate Change (COP26), U.S. Secretary of Energy Jennifer M. Granholm, U.S. Department of Energy, and Romania’s Minister of Energy, Virgil Popescu, highlighted that earlier today NuScale Power and Romania’s S.N. Nuclearelectrica S.A. signed a teaming agreement to advance the deployment of NuScale’s innovative small modular reactor (SMR) technology. Following the partnership, Romania has the potential to accommodate the first deployment of SMRs in Europe and to become a catalyst for SMRs in the region, as well as a base for supporting operatorship of this new technology in other countries.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211104006088/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Cosmin Ghita, Chief Executive Officer, Nuclearelectrica and John Hopkins, Chairman and Chief Executive Officer, NuScale Power (Photo: Business Wire)

The teaming agreement between NuScale Power, whose SMR is the first and only small modular reactor to receive design approval from the U.S. Nuclear Regulatory Commission, and Nuclearelectrica, a Romanian nuclear energy producer, comes at a pivotal time as senior government policymakers from around the world discuss the urgency of accelerating the clean energy transition. Discussion at the signing ceremony echoed this call to action and reinforced how NuScale’s SMRs can support international climate goals, help mitigate the worst impacts of climate change, and strengthen global prosperity.

Under the teaming agreement, NuScale will help Nuclearelectrica evaluate its technology, and together, the organizations will take steps toward deploying a first NuScale 6-module, 462 MWe, power plant in Romania as early as 2027/2028. The NuScale 6-module power plant is estimated to generate 193 permanent power plant jobs, 1,500 construction jobs, 2,300 manufacturing jobs and help Romania avoid 4M tons of CO2 emissions per year.

“The United States views nuclear energy as a pivotal technology in the global effort to lower emissions, expand economic opportunity, and ultimately combat climate change,” U.S. Secretary of Energy Jennifer M. Granholm. “We have been supporting the development of SMRs for decades, and it is extremely gratifying to celebrate this important milestone for Romania to help them achieve their climate goals.”

“Based on the Integrated National Plan in the field of Energy and Climate Change (PNIESC), Romania plans to reduce CO2 emissions by 55% until 2030 and its import dependency from 20.8% today to 17.8% in 2030. Nuclear energy has an essential role in achieving these decarbonization targets and ensuring the energy transition to a carbon-free economy, currently contributing 33% in total CO2-free energy production. After the implementation of strategic investment projects, this contribution will increase exponentially, while also ensuring energy security for Romania and the region. Building and operating small modular reactors will have proven environmental benefits of clean, emissions-free energy, bringing direct socio-economic benefits to the community it serves and generating continued prosperity for the regional industry and economy. We aim to develop the first SMR this decade in order to meet our critical energy demand and green targets securing a quality future for the generations to come. Decarbonation with nuclear is possible! I salute and support the signing of the teaming between the two companies, based on the long history of our two countries. The bilateral relations between Romania and the USA in the nuclear field started in the 1980s and since then they bring numerous benefits, most importantly economic stability and energy security. I thank our American partners and Secretary Granholm for supporting and endorsing the nuclear programs,” said Virgil Popescu, Minister of Energy, Romania.

“As Romania aims to diversify its energy portfolio and meet climate goals, NuScale’s advanced technology presents the perfect safe, economic and scalable solution,” said John Hopkins, NuScale Power Chairman and Chief Executive Officer. “While world leaders emphasize how critical this moment is in addressing climate change, NuScale’s SMR technology not only represents a pathway to meet Romania’s climate commitments, but also is a means to bolster local economic growth. NuScale is excited to work with Nuclearelectrica and to showcase the many benefits our technology will bring.”

“Nuclearelectrica is proud to be at the lead, valuing its experience operating at excellent standards and one of the highest performing nuclear plants in the world, into developing the first SMRs in Europe, an energy source that is 100% carbon free and which will reduce environmental footprints and put us on a path toward a zero-emission world. And at the same time, will form a new generation of engineers, which will benefit from the 25 years of experience Nuclearelectrica has and the groundbreaking innovation of NuScale’s SMR technology. What exciting times to contribute to the future of energy, to build a clean legacy for the generations to come,” Cosmin Ghita, Chief Executive Officer, Nuclearelectrica.

Watch the Signing Ceremony

Specifically, the teaming agreement outlines the next significant milestones for Nuclearelectrica and NuScale to develop safe, affordable zero-carbon baseload power technology with a focus on retired coal plant sites. It will support the Government of Romania’s National Recovery and Resilience Plan to phase out 4.59 GWe of coal fired energy production by 2032. By repurposing coal plants, Nuclearelectrica and NuScale can help communities and plant workers participate in the transition to decarbonized energy, while also continuing to provide local economic benefits. This teaming agreement serves as a catalyst for deployments in other Three Seas Initiative countries seeking to decarbonize.

This agreement follows a memorandum of understanding (MOU) signed between Nuclearelectrica and NuScale in 2019 to evaluate the development, licensing and construction of a NuScale SMR in Romania. The new teaming agreement advances the commitment to facilitate the deployment of a NuScale SMR in Romania.

In August 2020, NuScale made history as the first and only SMR to receive design approval from the U.S. Nuclear Regulatory Commission—a crucial step towards the construction and deployment of this SMR technology. The company maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans.

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, hydrogen production and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or twelve 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 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR, and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power's website.

About Nuclearelectrica

The National Company “Nuclearelectrica” S.A. is the national Romanian company producing electricity, heat and nuclear fuel, which operates under the authority of the Romanian Ministry of Energy, the state holding 82.49% of shares and other shareholders, 17.50%, after the listing of the company on the stock exchange in 2013.

Cernavoda NPP Branch operates two CANDU nuclear units, which are two of the most performant units among more than 400 nuclear power plants in the world, a nuclear fuel factory and is in the process of achieving an integrated fuel cycle by acquiring an uranium concentrate processing line to support the company's long-term investment projects.

Nuclearelectrica has a major role at the national level, contributing over 18% of nuclear energy in total energy production and 33% in total CO2-free energy production in Romania.

www.nuclearelectrica.ro

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Diane Hughes, Vice President, Marketing & Communications, NuScale Power
dhughes@nuscalepower.com
(C) (503) 270-9329

Tones Ludmila, Advisor of CEO, S.N. Nuclearelectrica
Ludmila.Tones@nuclearelectrica.ro
0040-730044468

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

NextSense Emerges to Unlock Brain Health with Key Partners UCB, Heraeus, UC San Diego, and Emory University3.12.2021 16:00:00 CET | Press release

NextSense, the foundation of brain health, came out of stealth with an announcement made from the AES (American Epilepsy Society) Annual Meeting in Chicago, where NextSense and its partners are presenting the results of their research on seizure detection to peers in academia and industry for the first time. NextSense unlocks brain health with real world data insights and practical, scientific wisdom for daily living. Traditional brain health monitoring technology like EEG machines and polysomnograms are too bulky for home use, requiring patients to stay overnight at hospitals or sleep study clinics for observation. The high cost of care and lack of comfort of these devices makes long-term and continuous monitoring nearly impossible. Not only are these data based on a single timeframe, they observe what is anything but an ordinary night’s sleep. And for anyone living with epilepsy, the unpredictability of seizures makes direct observation and high-quality data-gathering exceedingly rar

Healthcare + Expo Taiwan to Build an Ecosystem of Digital Transformation in Healthcare3.12.2021 15:15:00 CET | Press release

One of the largest trade fairs in the APAC region- the Healthcare+ Expo Taiwan- takes place on 2 to 5 December in Taipei. The Expo displays Taiwan’s strength in AI, Cloud-based Applications, Flat Panels, IoT and Technologies that make up Metaverse, reflecting the trend on digital transformation in healthcare driven by the global pandemic. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211203005002/en/ Expand Businesses into growing markets in the APAC region, with Healthcare+ B2B. Join medical institutes and companies in the fields of pharmaceuticals, biotechnology, health/ information technology, electronics and manufacturing to promote products, build partnerships and seize supply-demand opportunities. (Graphic: Business Wire) The Expo has an all-star lineup of corporates, including Acer, Asus, AUO, Delta Electronics, Innolux, Quanta and Wistron, demonstrate their technologies and solutions tailored to digital transformati

Eurofins Technologies Launches a New Multiplex RT-PCR Assay for Combined SARS-CoV-2 Screening and Rapid Detection of the Omicron (B.1.1.529) Variant of Concern3.12.2021 14:05:00 CET | Press release

Eurofins Technologies (Paris:ERF) announces the launch of the multiplex RT-PCR assay GSD NovaType Detect + Select K417N SARS-CoV-2. Within just one week since the first reports on the Omicron variant of concern, this kit has been developed as a quick response to identify its presence. The assay is designed for the simultaneous qualitative detection of SARS-CoV-2 genomic RNA and identification of the spike (S) mutation K417N in one reaction. The results of this RT-PCR assay can be obtained within 1 hour, which makes it a fast and cost-effective solution to identifying the presence of the Omicron variant before samples are confirmed by whole genome sequencing. Eurofins Technologies is constantly working to adapt its product offering to meet the challenges of the ongoing COVID-19 pandemic.. For more information, please visit Eurofins Technologies website. About Eurofins Technologies – a fast growing provider of diagnostic technologies in the field of immunoassays and molecular detection m

How Can Chinese Cities Increase Their Global Communications Impact? Joint Report and Index from CCG and Xinhuanet Sizes up Strategies and Offers Valuable Suggestions3.12.2021 13:53:00 CET | Press release

The Center for China and Globalization (CCG) and Xinhuanet, China’s leading online news portal, recently released a joint report evaluating the global communications impact of Chinese cities, analyzing the problems with their communication strategies, and offering suggestions on improving their ability to “go global”. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211203005279/en/ Report on the Chinese Cities Global Communications Impact Index (CCGCII) & Ranking of Chinese Cities by Global Communications Impact (Graphic: Business Wire) The study covered the top 100 cities in China as ranked by GDP in 2019, including Shanghai, Beijing, Shenzhen, Guangzhou, Chongqing, Chengdu, Wuhan, Tianjin, Dalian, and Xiamen . Based on big data from the Xinhua RIS data bank, which has collated over 10 million items of public information from overseas mainstream media and international social media platforms, the Chinese Cities Global Commun

Valuence Japan Nanboya, BRAND CONCIER Recognized as No.1 in Five Categories in Japan, Including for Overall Purchase Volume, for Luxury Brand Goods and Other Items!3.12.2021 10:55:00 CET | Press release

Valuence Japan Inc. (Tokyo; Susumu Muguruma, representative director), a member of the Valuence Group (TOKYO:9270), which operates 135 offices in Japan and 23 other countries(*1) specializing in the purchase of watches, bags, jewelry, precious metals, antiques, and art objects has announced the results of a survey on the purchase volume of brand goods conducted by ESP Research Institute, Inc. According to the survey, the company’s Nanboya and BRAND CONCIER brands placed in the top position in Japan in terms of overall annual purchase volume of luxury brand goods. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211203005167/en/ Valuence Japan Nanboya, BRAND CONCIER Recognized as No.1 in Five Categories in Japan, Including for Overall Purchase Volume, for Luxury Brand Goods and Other Items! Also Recognized as No.1 in Japan for Purchase Volume of Rolex and Other Watches, Jewelry, Apparel, and Accessories (Graphic: Business Wire)

Moody’s Acquires PassFort and Agrees to Acquire kompany, Expanding KYC and Compliance Capabilities3.12.2021 10:00:00 CET | Press release

Moody’s Corporation (NYSE:MCO) announced today that it has acquired PassFort Limited and entered into an agreement to acquire 360kompany AG (kompany), two European providers of onboarding and Know Your Customer (KYC) technology solutions. The acquisitions complement Moody’s technology, data, and analytical capabilities, and enhance its industry-leading customer solutions for KYC, anti-money laundering, compliance, and counterparty risk. “Our customers rely on our data and analytical tools to make decisions about who they do business with,” said Keith Berry, General Manager of Moody’s KYC business unit. “PassFort and kompany are innovators in the compliance and regulatory space, and their technologies will upgrade and accelerate our customers’ onboarding and monitoring processes.” PassFort is a U.K. SaaS-based workflow platform for identity verification, customer onboarding, and risk analysis. Its software delivers data from over 25 third-party providers and automates the collection, ve

DEXLEVO's Liquid Polymer Filler Raises KRW 26 Billion in Pre-IPO Funding3.12.2021 08:41:00 CET | Press release

DEXLEVO has completed its pre-IPO funding of KRW 26 billion. It thus increased its valuation by six times compared to the Series B funding in 2018 thanks to its commercialization performance such as obtaining the European Union’s CE certification on the liquid polymer filler (product name: GOURI) in May of this year. The company plans to build a new cGMP-grade (current Good Manufacturing Practice) production facility in Songdo with the proceeds raised this time and start marketing its flagship product. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006086/en/ DEXLEVO's GOURI, the world's 1st Fully Liquid type PCL Injectable. (Graphic: Business Wire) According to industry sources on November 25, DEXLEVO has completed a total of KRW 26 billion in pre-IPO funding from existing investors such as Magna Investment, Smilegate Investment, Hyundai Venture Investment Corp., and Shinhan Capital. Magna Investment and Smilegate Inv