NuScale Power Submits Letter Of Intent To Compete for U.S. Department Of Energy’s Funding Opportunity Announcement

  NuScale Power Submits Letter Of Intent To Compete for U.S. Department Of
  Energy’s Funding Opportunity Announcement

Business Wire

PORTLAND, Ore. -- March 27, 2013

NuScale Power LLC announced today that it has submitted a Letter of Intent to
respond to the recent Department of Energy (DOE) Funding Opportunity
Announcement (FOA) to accelerate the deployment of the company’s small modular
reactor technology.

“We are eager to be a part of DOE’s important effort to provide assistance for
design certification and ultimate deployment of SMR technology," stated John
Hopkins, NuScale’s Chairman and CEO. “This program would provide the
groundwork for full domestic and international commercialization of the
NuScale SMR technology, and in doing so, would help rejuvenate a U.S. nuclear
supply chain.”

As the only U.S.-based company established solely for the deployment and
commercialization of its SMR technology, NuScale has developed unique and
proprietary break-through technology for an innovative, simple, safe,
economic, and scalable small modular reactor. Using proven light water reactor
(LWR) technology, the NuScale Power Module is cooled by natural circulation,
is entirely self-contained and installed underwater and underground to
maximize safety.

The NuScale design also represents 100 percent factory-fabricated modules,
including containment, and is fully transportable by truck or rail to
deployment sites. It takes advantage of the “economies of small,” enhancing
potential market acceptance through improved safety, efficient operation, and
attractive economics. At 45 MWe per operating module, the NuScale SMR design
is attractive to markets that no other LWR SMR design can reach. A NuScale
power plant can include as many as 12 NuScale Power Modules to produce as much
as 540 MWe.

NuScale’s design development began in 2000 under a DOE-funded research program
and reflects 13 years of advancement and refinement—validated through
comprehensive testing in a one-third scale prototype test facility since 2003.

NuScale was the first US-based SMR vendor to begin discussions with the U.S.
Nuclear Regulatory Commission beginning in 2008 and has been engaged in
pre-application discussions since that time. With a DOE submittal deadline of
July 1, NuScale’s application in response to the FOA will fully detail its
approach to achieve a U.S. NRC Certification in a timeframe that would support
commercial operation by 2025.

Backed by a proven delivery model, NuScale Power has the support and technical
assistance of Fluor Corporation, the majority equity partner and exclusive EPC
contractor to NuScale, as well as a variety of specialty contractors,
providing best-in-class project management systems, processes, and personnel.

About NuScale Power LLC

NuScale Power LLC, is developing an inherently safe, modular, scalable
commercial nuclear power technology. Fluor Corporation (NYSE: FLR), a global
engineering, procurement and construction company with a 60-year history in
commercial nuclear power, is the majority investor in NuScale. 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 nuclear power
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. The reactors are
cooled by the natural convection of water and can be shut down safely without
pumps or other mechanical systems. 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. For more information
visit:www.nuscalepower.com.

Contact:

NuScale Power LLC
Mike McGough, 503-715-2238
 
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