U.S. Nuclear Regulatory Commission to Commence Technical Review of NuScale Power’s Second Standard Design Approval Application

PORTLAND, Ore.--(BUSINESS WIRE)--Mar 17, 2023--

Today, the U.S. Nuclear Regulatory Commission (NRC) announced that it will begin the technical review of NuScale Power Corporation’s (NYSE: SMR) second Standard Design Approval (SDA) application. NuScale, the industry-leading provider of innovative advanced nuclear small modular nuclear reactor (SMR) technology, submitted the application in late 2022, which is based on the VOYGR TM -6 (6-module) power plant configuration powered by an uprated 250 MWt (77 MWe) SMR design. The design reflected in this application features the same fundamental safety case and passive safety features approved by the NRC in 2020, with a focus on the power uprate and select design changes to support customers’ capacity needs and further improve economics.

“The commencement of the NRC’s review brings us closer to another important regulatory milestone and the commercialization our SMR technology, which will provide affordable, carbon-free power to our customers,” said John Hopkins, President and Chief Executive Officer of NuScale. “We look forward to working alongside the NRC toward the achievement of our second design approval.”

About NuScale Power

NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor 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 VOYGR™ SMR plants are 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 Twitter, Facebook, LinkedIn, Instagram and YouTube.

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CONTACT: Media Contact

Diane Hughes, Vice President, Marketing & Communications, NuScale Power

dhughes@nuscalepower.com

(503) 270-9329Investor Contact

Scott Kozak, Director, Investor Relations, NuScale Power

skozak@nuscalepower.com

(541) 452-7583

KEYWORD: UNITED STATES NORTH AMERICA OREGON

INDUSTRY KEYWORD: ENERGY WHITE HOUSE/FEDERAL GOVERNMENT NUCLEAR OTHER ENERGY PUBLIC POLICY/GOVERNMENT

SOURCE: NuScale Power

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PUB: 03/17/2023 05:00 PM/DISC: 03/17/2023 05:01 PM

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