NuScale on the Global Stage
With 2020 on track to be another milestone year for NuScale, we wanted to take this time to recap the domestic and international relationships we’ve cultivated to support the deployment of NuScale plants worldwide.
The global SMR market is estimated to be more than $100 billion by 2035, based on best-case estimates by the Nuclear Energy Agency. NuScale continues to explore opportunities to infuse its technology into this market with stakeholders in the United Kingdom, Canada, Central and Eastern Europe, southeast and central Asia, Africa and the Middle East. Over the past two years, NuScale has initiated memoranda of understanding (MOUs) with several domestic and international entities to explore the potential deployment of NuScale SMR power plants. These include MOUs with the following companies:
- Ontario Power Generation Inc. (OPG), Ontario’s public electricity generator, which agreed to support NuScale in its vendor design review (VDR) with the Canadian Nuclear Safety Commission.
- Bruce Power, L.P, Canada’s first private nuclear generator, to develop a business case to introduce NuScale’s SMR to the Canadian market and signed just one month after our MOU with OPG.
- Jordan Atomic Energy Commission (JAEC) to evaluate NuScale’s power plant for use in Jordan.
- Societatea Nationala Nuclearelectrica SA, Romania’s leading nuclear energy provider, to explore applications for NuScale’s SMR technology in Romania.
- ČEZ Group, a leading Czech utility conglomerate that owns and operates the Czech Republic’s two nuclear power plants, to explore applications for NuScale’s SMR technology.
- Ukraine’s State Scientific and Technical Center for Nuclear and Radiation Safety (SSTC NRS) to collaborate on the regulatory and design gaps between the U.S. and Ukraine processes for the licensing, construction, and operation of a NuScale power plant in Ukraine.
- NuScale signed, but did not announce, several other MOUs with companies considering a NuScale deployment. Other MOUs are in negotiation and we hope to announce these soon.
- NuScale also closed on its third investment by Doosan Heavy Industries and Construction, Ltd. (Doosan) and its financial partners, a clear reflection of Doosan’s commitment as a strategic NuScale partner and belief in our future success.
To meet expected demand both domestically and internationally, NuScale is building a robust supply chain to support the needs of its prospective customers. Examples include:
- Enfission, LLC, a joint venture of Lightbridge Corp. and Framatome, to explore the use of next-generation nuclear fuel technology in NuScale’s reactors. While NuScale’s design is already the most resilient nuclear reactor in the world, Lightbridge’s fuel could spur improvements in core design, performance, and levelized costs of electricity.
- Virginia-based BWX Technologies, Inc. (BWXT) to advance engineering work for the construction of the first NuScale Power Module™ (NPM). Through June 2020, BWXT will refine our pioneering design for enhanced manufacturability, assembly, and transportability.
- Minnesota-based PaR Systems, LLC to conduct the engineering work for the manufacturing of a Reactor Building Crane (RBC), an important element of NuScale’s innovative nuclear plant design. Proof of Concept Testing for the reactor building crane will begin in summer 2020.
- NuScale has additional agreements with companies that will offer technical expertise and will manufacture various components of the NPM. The most recent of these include Doosan and Sargent & Lundy, both of which provided a cash investment in NuScale. Sargent & Lundy will support the development of our standard plant design based on our forthcoming NRC certification and Doosan is expected to fabricate a portion of the most critical and complex NPM sub-assemblies for the NuScale 12-module 720 MWe plant for UAMPS Carbon Free Power Project. The first module is expected to be operational by mid-2029, with the remaining 11 modules to come online for full plant operation by 2030.
NuScale continues to demonstrate the strong business case for its SMR technology and the world is paying attention. We are revolutionizing the nuclear industry with our smarter, cleaner, safer, and cost competitive technology to meet the biggest human needs around the globe. The future of energy is here and it looks brighter than ever.