In partnership with GS Energy, Doosan Enerbility, and Samsung
C&T, this Energy Exploration Center control room simulator will
provide hands-on nuclear experience for future operators of
NuScale’s innovative small modular reactor technology
worldwide.
NuScale Power Corporation (NYSE: SMR) announced today the
opening of the first privately-funded NuScale Energy Exploration
Center (E2 Center) at Seoul National University (SNU) with partners
GS Energy Corporation, Doosan Enerbility Co. Ltd., and Samsung
C&T Corporation. As the first E2 Center in Asia, the
educational training hub serves as a workforce development tool for
South Korea to develop the next generation of advanced nuclear
experts, technologists, and operators, positioning the country to
become a regional leader of small modular reactor (SMR) deployment
in Asia.
The E2 Center is an innovative learning environment that offers
users a hands-on opportunity to apply nuclear science and
engineering principles through simulated, real-world nuclear power
plant operation scenarios. Through state-of-the-art computer
modeling, visitors will take on the role of “control room
operators” at a VOYGR™-12, 924 megawatts electric (MWe), SMR plant
powered by 12 NuScale Power Modules™ to learn about the advanced
features and functionality of NuScale’s technology.
The deepening partnership between NuScale and Korean energy
industry leaders will help Korean companies advance their SMR
capabilities significantly, which could lead to exports of
Korean-supported SMRs in the future.
“NuScale’s groundbreaking SMRs are years ahead of the global
competition as the only advanced nuclear technology with U.S.
Nuclear Regulatory Commission approval, and today’s opening of the
E2 Center allows South Korea to advance its position as a global
leader in clean energy,” said Dr. José Reyes, NuScale Co-Founder
and Chief Technology Officer. “With the support of our partners GS
Energy, Doosan, Samsung C&T, and Seoul National University, we
are excited to reach this new milestone in our collaboration to
advance the shared goal of global decarbonization.”
The establishment of a NuScale E2 Center at Seoul National
University will play a pivotal role in South Korea’s pursuit of
their clean energy objectives. Through the hands-on learning
experience provided by the E2 Center, South Korean nuclear experts
and technologists will be equipped with the knowledge needed to
ensure the safe operation of a NuScale VOYGR SMR power plant
control room. This collaboration further underscores the increasing
global support of NuScale’s SMR technology as the premier solution
to advance the clean energy transition.
“The E2 Center provides our students with an unrivaled
opportunity to engage in hands-on SMR operations, cultivating the
expertise essential for leading the global clean energy
transition,” said Professor Eung Soo Kim, Head of the Department of
Nuclear Engineering at Seoul National University. “We are proud to
be the first institution in Asia to integrate NuScale's
state-of-the-art simulation technology into our curriculum.”
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.
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
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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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231114379483/en/
Media Contact Diane Hughes, Vice President, Marketing
& Communications, NuScale Power dhughes@nuscalepower.com (503)
270-9329
Investor Contact Scott Kozak, Director, Investor
Relations, NuScale Power skozak@nuscalepower.com (541) 452-7583
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