Further solidifying the key role that
advanced nuclear energy technology will have in the clean energy
transition, NuScale and Dairyland Power agree to work together to
explore safe, clean and cost-effective energy solutions for the
future
Today, NuScale Power and Dairyland Power Cooperative announced
the signing of a memorandum of understanding (MOU) to evaluate the
potential deployment of NuScale’s advanced nuclear technology.
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the full release here:
https://www.businesswire.com/news/home/20220224005292/en/
Headquartered in La Crosse, Wisconsin, Dairyland is a generation
and transmission cooperative providing the wholesale electrical
requirements for 24 distribution cooperatives and 17 municipal
utilities, supplying the energy for more than a half-million people
in four states (Wisconsin, Minnesota, Iowa and Illinois).
Under this MOU, the two parties will work together to explore
NuScale’s small modular reactor technology and support Dairyland’s
due diligence process in evaluating affordable, reliable and
carbon-free energy solutions.
In support of Dairyland’s existing portfolio, NuScale’s VOYGRTM
power plants are flexible and able to perform load following
maneuvers to meet grid capacity needs due to the intermittency of
wind, solar, and hydro generation, facilitating the growth of
renewables. Additionally, NuScale’s technology is particularly
well-suited for placement at retiring coal plant sites, preserving
critical jobs in the energy industry and helping host communities
facilitate the transition to a decarbonized energy system.
“NuScale is thrilled to partner with an environmentally-focused,
forward-thinking organization like Dairyland,” said John Hopkins,
NuScale Power President and Chief Executive Officer. “Our advanced
technology can deliver safe, affordable, and green energy making
NuScale the ideal partner to help Dairyland execute their vision to
grow, innovate, and deliver value as a premier member-driven energy
cooperative.”
“Dairyland is examining carbon-free power supply technologies
including NuScale’s small modular reactor nuclear plants,” said
Brent Ridge, Dairyland President and CEO. “This agreement provides
Dairyland an opportunity to explore this technology and evaluate
whether it might be a viable long-term alternative to provide our
members with safe, reliable and cost-effective electricity in a
lower carbon future.”
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 Dairyland Power Cooperative: www.dairylandpower.com
Forward Looking Statements
This release may contain “forward-looking statements” within the
meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target” or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical facts. These
forward-looking statements are inherently subject to risks,
uncertainties and assumptions. Actual results may differ materially
as a result of a number of factors. Caution must be exercised in
relying on these and other forward-looking statements. Due to known
and unknown risks, NuScale’s results may differ materially from its
expectations and projections. While NuScale may elect to update
these forward-looking statements at some point in the future
NuScale specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing NuScale’s assessments of any date subsequent to the
date of this release. Accordingly, undue reliance should not be
placed upon the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220224005292/en/
Diane Hughes, Vice President, Marketing & Communications,
NuScale Power dhughes@nuscalepower.com (C) (503) 270-9329
Katie Thomson, Manager, Strategic Communications, Dairyland
Power Cooperative katie.thomson@dairylandpower.com (O)
(608-787-1323 (C) (608) 792-5881
Deb Mirasola, Dir., Member Relations & Chief Communications
Officer, Dairyland deb.mirasola@dairylandpower.com (O)
(608-787-1378 (C) (608) 792-3704
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