The companies will share technical expertise and explore potential of NuScale’s SMR as a long-term clean energy option for ČEZ
PORTLAND, Ore.--(BUSINESS WIRE)--Today, NuScale Power announced that it has signed a memorandum of understanding (MOU) with ČEZ Group, a leading Czech utility conglomerate, to explore applications for NuScale’s small modular reactor (SMR) as a long-term energy solution in the Czech Republic. The agreement marks the latest display of international interest in NuScale’s technology to help meet a growing demand for carbon-free energy.
“I am confident that the simplified design and resulting lower operating costs of NuScale’s SMR make us the ideal technology to help ČEZ meet a growing demand for cost-effective, carbon free energy,” said NuScale Chairman and Chief Executive Officer John Hopkins. “This agreement highlights the rapidly growing international interest in our technology, and will give us the opportunity to examine how best to deploy the NuScale SMR in Europe in the coming years.”
The agreement calls for a sharing of nuclear and technical expertise between the two companies as they examine applications for NuScale’s revolutionary SMR. Specifically, NuScale and ČEZ will exchange information relating to nuclear supply chain development, construction and operation and maintenance.
The agreement comes as ČEZ continues a broad-based evaluation of potential nuclear energy solutions, including the construction of SMRs and refurbishments to existing nuclear facilities. Nuclear power currently generates roughly 1/3 of all electricity in the Czech Republic. ČEZ – one of the largest utility companies in Europe – currently operates two nuclear power plants in the country.
“We have a long-term orientation on new solutions and technologies. Our technical-engineering company UJV Rez is already researching small modular reactors, which represent an important future alternative that cannot be ignored. This partnership with NuScale is a next logical step in our efforts,” explained Chairman of the Board of Directors and CEO Daniel Beneš.
“Our aim is to set trends, not only to follow them. The Czech government gives top priority to innovations and small modular reactors can be the future of nuclear energy. I am glad ČEZ has intensive research in this field. Czech nuclear energy research has traditionally been one of the best in the world and the cooperation with NuScale on development of small modular reactors further confirms this position,” says Vice Premier and Minister of Industry of the Czech Republic Karel Havlíček.
NuScale’s technology is the world’s first and only SMR to undergo design certification review by the U.S. Nuclear Regulatory Commission (NRC). Last month, the NRC completed phases 2 and 3 of its review and is scheduled to complete its review of NuScale’s design in September 2020.
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 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.