Asia

Doosan Heavy Industries and Construction Co., Ltd. (DHIC)

On April 29, 2019, NuScale Power and Doosan Heavy Industries and Construction Co., Ltd. (DHIC), a member of the Doosan Group, announced a strategic cooperation to support deployment of the NuScale Power Module™ (NPM) worldwide. Additionally, pending final due diligence, Korean financial investors plan to make a cash equity investment in NuScale, marking a strong endorsement of NuScale as a global SMR leader.

Through this project, DHIC, a pre-eminent, world-renowned nuclear pressure vessel manufacturer with substantial experience, is expected to build a portion of the most critical and complex NPM sub assemblies for the plant under development for Utah Associated Municipal Power Systems, which is expected to begin operation in 2026. The new international relationship with DHIC will further build NuScale’s U.S.-centered supply chain and accelerate our ability to deliver advanced nuclear technology quickly to future customers around the world.

“We are impressed with the simplicity, safety and cost-effectiveness of NuScale’s design, and we look forward to collaborating with the company as they bring America’s first SMR to market,” said Ki Yong Na, CEO of Doosan Nuclear Power Plant Business Group. “Furthermore, we see great potential for international applications of NuScale’s carbon-free technology and look forward to collaborating with NuScale as the company pursues additional opportunities.”

Under the terms of the project, which are subject to a satisfactory due diligence negotiation of a definitive agreement and regulatory approvals, DHIC and NuScale are aiming to close the strategic supplier agreement in July 2019.