NuScale Power and KGHM to sign a landmark
agreement to initiate work towards implementing advanced small
modular reactors (SMRs) in Poland, following the September
collaboration announcement between the two parties
In Washington, D.C., U.S. government officials and Polish
officials, including Poland’s Deputy Prime Minister, Jacek Sasin,
will announce that NuScale Power and Poland’s KGHM Polska Miedź
S.A. (KGHM) signed an agreement to initiate the deployment of
NuScale’s innovative small modular reactor (SMR) technology.
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the full release here:
https://www.businesswire.com/news/home/20220214005233/en/
John Hopkins, NuScale Power President and
Chief Executive Officer and Marcin Chludziński, President of the
Management Board of KGHM Polska Miedź S.A. (Photo: Business
Wire)
The definitive agreement between NuScale Power, whose SMR is the
first and only small modular reactor to receive design approval
from the U.S. Nuclear Regulatory Commission, and KGHM, a
Poland-based leader in copper and silver production and large
industrial energy user, will position KGHM as a clean energy
implementation leader with the first deployment of SMRs in Poland.
Under this agreement, NuScale will work with KGHM to support the
deployment of SMR technology, and together, the organizations will
take steps toward deploying a first NuScale VOYGR™ power plant in
Poland as early as 2029, which would help Poland avoid up to 8M
tons of CO2 emissions per year. The deployment of the VOYGR plant
by 2029 is directly tied to the Climate policy of KGHM Polska Miedź
and the Company’s new strategic direction - energy.
The first task under the agreement will identify and assess
potential project sites and develop project planning milestones and
cost estimates. These activities support KGHM as it evaluates
NuScale VOYGR plants as a coal repurposing solution for existing
power plants, as well as opportunities to deploy VOYGR plants to
provide safe, carbon-free, reliable energy for their operations and
to support other Polish industrial energy users.
KGHM and NuScale first began their collaboration in September
2021, after the two parties signed a memorandum of understanding
(MOU) to collaborate in the development, licensing and construction
of a NuScale VOYGR plant in Poland. This new commercial agreement
marks a significant milestone in NuScale’s progress towards
commercialization and advancing clean, reliable, and affordable
energy in Poland.
“In the global race to rapidly decrease emissions worldwide,
NuScale’s technology presents the perfect solution to reach this
goal while simultaneously bringing economic prosperity to host
countries,” said John Hopkins, NuScale Power President and Chief
Executive Officer. “NuScale is proud to partner with KGHM, an
experienced innovation leader, and we are excited to work together
to bring forth the next era of advanced clean energy deployment and
confront the climate crisis.”
"We are always thrilled when we see U.S. companies furthering
our country's energy leadership by advancing our innovative
technologies for global applications," said Andrew Griffith, Deputy
Assistant Secretary for Nuclear Fuel Cycle and Supply Chain.
“KGHM is proud to lead the initiation of a 100% carbon free
energy project, delivering on its commitment to lead efforts to
decarbonize. The SMR technology will increase the company's cost
efficiency and transform the Polish energy sector,” said Marcin
Chludziński, President of the Management Board of KGHM Polska Miedź
S.A.
The announcement will come after industry leaders, policymakers,
and scientists from around the world discussed solutions to address
the climate crisis and decrease carbon emissions at United Nations
summit on climate change, COP26, in early November. NuScale VOYGR
power plants can generate up to 270 permanent power plant jobs,
1,200 construction jobs, and 4,600 manufacturing jobs per plant
deployment, and act as an effective and critical means to reach
climate goals.
Watch the Signing Ceremony. Link
In August 2020, NuScale made history as the first and only SMR
to receive design approval from the U.S. Nuclear Regulatory
Commission – a crucial step towards the construction and deployment
of this SMR technology. The company maintains strong program
momentum toward commercialization of its SMR technology, including
supply chain development, standard plant design, planning of plant
delivery activities and startup and commissioning plans.
About NuScale Power
NuScale Power has developed a new modular light water reactor
nuclear power plant to supply energy for electrical generation,
district heating, desalination, hydrogen production and other
process heat applications. This groundbreaking small modular
reactor (SMR) technology is offered in scalable sizes, including a
VOYGR™-12 power plant, which includes 12 (77 MWe) NuScale Power
Modules™ (NPM), using a safer, smaller, and scalable version of
pressurized water reactor technology. NuScale also offers smaller
power plant solutions, the four-module VOYGR-4 (308 MWe) and
six-module VOYGR-6 (462 MWe), though others will be possible. With
an array of flexible power options, NuScale is poised to meet the
diverse energy needs of customers across the world. The majority
investor in NuScale is Fluor Corporation, a global engineering,
procurement, and construction company with more than 70 years
supporting nuclear projects.
NuScale is headquartered in Portland, OR and has offices in
Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and
London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power's
website.
On December 14, 2021, NuScale announced a definitive business
combination agreement with Spring Valley Acquisition Corp. (Nasdaq:
SV). Upon the closing of the business combination, NuScale will
become publicly traded under the new ticker symbol “SMR.”
Additional information about the transaction can be viewed here:
https://www.nuscalepower.com/about-us/investors.
About KGHM Polska Miedź S.A.
KGHM is involved in the mining and processing of valuable
natural resources. At its heart is the largest deposit of copper
ore in Europe, located in south-western Poland. By advancing our
strategy we are systematically strengthening KGHM’s international
position. Currently the company has a geographically diversified
mine project profile. It has operations on three continents – in
Europe, North America and South America. The copper ore resources
controlled by KGHM guarantee the company a leading position in the
mining industry. Our portfolio includes metals such as molybdenum,
palladium and nickel, opening the way for KGHM to gain a strong
position amongst the world’s diversified miners. www.kghm.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220214005233/en/
Diane Hughes, Vice President, Marketing & Communications,
NuScale Power dhughes@nuscalepower.com C (+1) 503-270-9329
Lidia Marcinkowska, Executive Director, Communications, KGHM
Polska Miedź S.A. lidia.marcinkowska-bartkowiak@kghm.com T (+48)
887 772 361
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