The collaboration will assess a novel
decarbonization path for a major U.S. chemical company by pairing
NuScale’s SMR technology with a heat augmentation system
NuScale Power Corporation (NYSE: SMR) announced today its
partnership with Oak Ridge National Laboratory (ORNL) to perform a
techno-economic assessment (TEA), studying a NuScale small modular
reactor’s (SMR) ability to implement a cost-effective steam heat
augmentation design. The study will be based on process data from a
U.S. chemical facility to help the plant meet its electric power
and process steam requirements with NuScale’s carbon-free, nuclear
technology. This work will be a highly collaborative effort with
engineers from ORNL and NuScale forming a composite engineering
team. The proposed deliverables of the techno-economic assessment
are anticipated to be completed within one year.
The strategic partnership between NuScale and ORNL is a
significant step in the effort to decarbonize commercial chemical
plants. Harnessing the heat output of NuScale SMRs for steam
production would present a reliable clean energy option for
commercial chemical plants looking to meet clean energy goals.
“With the support of the U.S. Department of Energy (DOE) under
the Gateway for Accelerated Innovation in Nuclear (GAIN)
initiative, we are thrilled to collaborate with Oak Ridge National
Lab to assess this exciting new decarbonization pathway that serves
as a model for chemical plants. It is a crucial step in the
transition to a sustainable future that serves all energy-intensive
sectors,” said John Hopkins, NuScale President and Chief Executive
Officer. “As the first and only U.S. Nuclear Regulatory Commission
(NRC) certified SMR design, NuScale leads in the development of new
technologies to achieve industry-wide decarbonization.”
“Nuclear technologies will play an essential role in the
carbon-free integrated energy systems of the future,” said Mickey
Wade, Associate Lab Director for Fusion and Fission Energy and
Science at Oak Ridge National Laboratory. “The reliability of heat
production from advanced fission technologies will drive deep
decarbonization across industrial sectors, including chemical
production facilities. ORNL’s expertise in techno-economic analysis
regarding system reliability, operational cost, and system
stability analyses provides an enabling foundation for our partners
to evaluate this decarbonization pathway.”
The techno-economic assessment will evaluate the viability of
NuScale’s SMR technology with steam heat augmentation for use in a
chemical system, including examination of steam reliability,
operational costs, and system stability.
SMR siting suitability will also be studied, with NuScale
receiving NRC approval for an Emergency Planning Zone (EPZ) sizing
methodology capable of a site boundary EPZ. NuScale is the only SMR
vendor to receive NRC approval for its EPZ sizing methodology.
The TEA is receiving funding through an award granted by the
DOE’s GAIN initiative, housed within the Office of Nuclear Energy.
GAIN provides technical, regulatory, and financial support needed
to advance nuclear technology towards commercialization. This is
the fourth round of GAIN Vouchers awarded in fiscal year 2023.
About NuScale Power
NuScale Power Corporation (NYSE: SMR) is the industry-leading
provider of proprietary and innovative advanced small modular
reactor (SMR) nuclear technology, with a mission to help power the
global energy transition by delivering safe, scalable, and reliable
carbon-free energy. The company’s groundbreaking SMR technology is
powered by the NuScale Power Module™, a small, safe, pressurized
water reactor that can each generate 77 megawatts of electricity
(MWe) or 250 megawatts thermal (gross), and can be scaled to meet
customer needs through an array of flexible configurations up to
924 MWe (12 modules) of output.
As the first and only SMR to have its design certified by the
U.S. Nuclear Regulatory Commission, NuScale is well-positioned to
serve diverse customers across the world by supplying nuclear
energy for electrical generation, district heating, desalination,
commercial-scale hydrogen production, and other process heat
applications.
Founded in 2007, NuScale is headquartered in Portland, Ore. To
learn more, visit NuScale Power’s website or follow us on
LinkedIn, Facebook, Instagram, X and
YouTube.
About Oak Ridge National Lab
UT-Battelle manages ORNL for the Department of Energy’s Office
of Science, the single largest supporter of basic research in the
physical sciences in the United States. The Office of Science is
working to address some of the most pressing challenges of our
time. For more information, please visit
https://www.energy.gov/science/office-science.
Forward Looking Statements
This release may contain forward-looking statements (including
without limitation statements to the effect that the Company or its
management "will," "believes," "expects," “anticipates,” "plans" or
other similar expressions). These forward-looking statements
include statements relating to strategic and operational plans,
capital deployment, future growth, new awards, backlog, earnings
and the outlook for the company’s business.
Actual results may differ materially as a result of a number of
factors, including, among other things, the severity and duration
of the COVID-19 pandemic and actions by governments, businesses and
individuals in response to the pandemic, including the duration and
severity of economic disruptions; the Company's failure to receive
new contract awards; cost overruns, project delays or other
problems arising from project execution activities, including the
failure to meet cost and schedule estimates; intense competition in
the industries in which we operate; failure of our partners to
perform their obligations; cyber-security breaches; foreign
economic and political uncertainties; client cancellations of, or
scope adjustments to, existing contracts; failure to maintain safe
worksites and international security risks; risks or uncertainties
associated with events outside of our control, including weather
conditions, pandemics, public health crises, political crises or
other catastrophic events; the use of estimates and assumptions in
preparing our financial statements; client delays or defaults in
making payments; the failure of our suppliers, subcontractors and
other third parties to adequately perform services under our
contracts; uncertainties, restrictions and regulations impacting
our government contracts; the inability to hire and retain
qualified personnel; the potential impact of certain tax matters;
possible information technology interruptions; the Company's
ability to secure appropriate insurance; liabilities associated
with the performance of nuclear services; foreign currency risks;
the loss of one or a few clients that account for a significant
portion of the Company's revenues; damage to our reputation;
failure to adequately protect intellectual property rights; asset
impairments; climate change and related environmental issues;
increasing scrutiny with respect to sustainability practices; the
availability of credit and restrictions imposed by credit
facilities for our clients, suppliers, subcontractors or other
partners; failure to obtain favorable results in existing or future
litigation and regulatory proceedings, dispute resolution
proceedings or claims, including claims for additional costs;
failure by us or our employees, agents or partners to comply with
laws; new or changing legal requirements, including those relating
to environmental, health and safety matters; failure to
successfully implement our strategic and operational initiatives;
risks related to provisions of our convertible preferred stock; and
restrictions on possible transactions imposed by our charter
documents and Delaware law. Caution must be exercised in relying on
these and other forward-looking statements. Due to known and
unknown risks, the Company’s results may differ materially from its
expectations and projections.
Additional information concerning these and other factors can be
found in the Company's public periodic filings with the Securities
and Exchange Commission, including the general economic conditions
and other risks, uncertainties and factors (a) set forth in the
section entitled “Risk Factors” and “Cautionary Statement Regarding
Forward-Looking Statements” in the Company’s prospectus dated and
filed with the U.S. Securities and Exchange Commission (“SEC”) on
July 1, 2022, which is part of the registration statement on Form
S-1 declared effective by the SEC on June 30, 2022, in the section
entitled “Risk Factors,” (b) set forth in the section entitled
“Risk Factors” and “Special Note Regarding Forward-Looking
Statements” in the Company’s annual report filed on Form 10-K filed
with the SEC on March 15, 2023, and under similar headings in prior
filings with the SEC, and (c) associated with companies like the
Company that operate in the energy industry. The referenced SEC
filings are available either publicly or upon request from
NuScale's Investor Relations Department at ir@nuscalepower.com. The
Company disclaims any intent or obligation other than as required
by law to update its forward-looking statements in light of new
information or future events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231120315953/en/
Media Contacts Diane Hughes, Vice President, Marketing
& Communications, NuScale Power dhughes@nuscalepower.com (503)
270-9329
Laura Scheele, Communications Coordinator, Fusion and Fission
Energy and Science Directorate, Oak Ridge National Laboratory
scheelela@ornl.gov (219) 381-8672
Investor Contact Scott Kozak, Director, Investor
Relations, NuScale Power skozak@nuscalepower.com (541) 452-7583
Grafico Azioni NuScale Power (NYSE:SMR)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni NuScale Power (NYSE:SMR)
Storico
Da Mag 2023 a Mag 2024