NuScale and Ontario Power Generation Sign MOU to Support SMR Expansion to Canadian Market

New agreement will help NuScale move closer to commercializing small
modular reactor technology in Canada

PORTLAND, Ore.–(BUSINESS WIRE)–NuScale
Power
is pleased to announce it has signed a memorandum of
understanding (MOU) with Ontario Power Generation Inc. (OPG), Ontario’s
public electricity generator, who has agreed to support NuScale in its
vendor design review (VDR) with the Canadian Nuclear Safety Commission
(CNSC), bringing NuScale closer to introducing its ground-breaking small
modular reactor (SMR) technology to Canadian customers.

“We see this agreement with OPG as an important milestone in NuScale’s
efforts to bring our scalable, economic, carbon-free, and safe reactor
to Canada,” said NuScale Chairman and Chief Executive Officer John
Hopkins. “We are extremely fortunate to have OPG’s valuable nuclear
regulatory and utility expertise, and we know that they will be an
incredibly helpful partner in our efforts to ensure that our new and
innovative technology meets Canadian regulatory requirements and
customer needs.”

NuScale is currently working on a service agreement to submit a VDR
application with the CNSC. The goal of the VDR is to ensure the nuclear
power plant design meets Canadian nuclear regulatory requirements and
expectations, as well as Canadian codes and standards. After the service
agreement is signed, NuScale and the CNSC will develop a project
execution plan for the content and timing of the subsequent submittals.
NuScale’s technology is already the world’s first and only SMR to
undergo design certification application review by the U.S. Nuclear
Regulatory Commission.

Through the new agreement, OPG will offer expertise to support not only
NuScale’s Vendor Design Review application currently under development
with the CNSC, but also the further evaluation of development,
licensing, and deployment of the first NuScale power plant in Canada.

“We’re proud to support NuScale’s efforts to enter the Canadian market,”
said Jeff Lehman, OPG’s Vice President of New Nuclear Development. “From
our work on the NuScale Advisory Board, we know that the company’s small
modular reactor technology holds strong potential for Canadian
electricity users. In support of Canada’s climate change goals, we look
forward to supporting NuScale as they move through the Canadian
regulatory process.”

NuScale’s innovative and unique SMR design has strong safety and
unparalleled reliability features, is factory-made, and offers scalable
power based on need – an unprecedented capability in the nuclear energy
industry. The U.S. Nuclear Regulatory Commission is scheduled to
complete NuScale’s Design Certification application in September 2020.
NuScale’s first customer, Utah Associated Municipal Power Systems, is on
track to deploy the U.S.’s first SMR plant in the mid-2020s.

About NuScale Power

NuScale Power is developing a new modular light water reactor nuclear
power plant to supply energy for electrical generation, district
heating, desalination, and 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.

Contacts

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

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