From the CEO's Desk

From the CEO's Desk

Winter 2021

John Hopkins

As the autumn leaves fall and the temperatures begin to chill, it’s hard to believe that the end of 2021 is upon us. The past few months have been swift as my travel has resumed to pre-COVID-19 levels. While much has changed in our world with travel a bit more regimented, I am thrilled that face-to-face conversations are returning and with it, a feeling of some normalcy in our business.

One constant that remains at NuScale is the passion of our people and their dedication to being the U.S. leader in bringing SMRs to market. In late September, I traveled to Poland to proudly announce two new partnerships. NuScale, KGHM Polska Miedź S.A. (KGHM), and Piela Business Engineering (PBE) signed a Memorandum of Understanding (MOU) to consider the deployment of NuScale’s SMR technology as a coal repurposing solution and electricity and heat for KGHM’s industrial processes in Poland. During this trip, NuScale also signed an MOU with Getka Group (Getka) and UNIMOT S.A. (UNIMOT). For both agreements, NuScale will support KGHM/PBE and Getka/UNIMOT’s examination of NuScale’s SMR technology as a coal repowering/repurposing solution for existing coal-fueled power plants and more broadly for new nuclear plant implementations, as well as for energy in support of industrial operations in Poland. The examinations will include an analysis of technical, economic, legal, regulatory, financial, and organizational factors. These partnerships continually demonstrate the international interest in utilizing NuScale’s SMR technology to produce clean, reliable, and affordable energy.

As transformation of the global power sector continues in tandem with climate change, countries and companies are demonstrating strong commitments to supplying carbon-free electricity to meet clean energy goals. This was a key theme as I gathered in early November with world leaders and government officials in Glasgow, Scotland, to address climate change at the United Nations Conference on Climate Change (COP26). The week began on an exciting note as President Biden recognized NuScale in his announcement at COP - Fact Sheet: President Biden to Build a Clean Energy Economy. The briefing referenced, “The United States and Romania will announce …plans to build a “first-of-a-kind” small modular reactor (SMR) plant in Romania in partnership with U.S. NuScale Power…” During the conference, U.S. Secretary of Energy Jennifer M. Granholm, U.S. Department of Energy, and Romania’s Minister of Energy, Virgil Popescu, then endorsed NuScale and Romania’s Nuclearelectrica teaming agreement to work together to advance clean energy solutions in Europe. As Romania aims to diversify its energy portfolio and meet climate goals, NuScale’s advanced technology presents the perfect safe, economic and scalable solution. I encourage you to watch the signing ceremony and the fireside chat that I participated in with my colleague Cosmin Ghita, Chief Executive Officer, Nuclearelectrica.

While I’m filled with eager anticipation of a brand new start in 2022, the end of another year gives me reason to pause and reflect. I’m grateful to each of you reading this message for your continued support. We are so fortunate to have you join us on this exciting journey as we strive to bring SMRs to market. We look forward to what’s to come in 2022!

Have a relaxing and peaceful holiday season with your loved ones.

Warm regards,

John Hopkins
Chairman and CEO of NuScale Power