Highlights Design Finalization Status and Manufacturing Updates

PORTLAND, Ore. – NuScale Power recently hosted its bi-annual NuScale Advisory Board (NuAB) and Technical Advisory Board (TAB) meetings in Corvallis, OR.

There are 29 NuAB member companies, including the owners and operators of nearly two-thirds of the U.S. operating fleet of commercial nuclear power plants. Twice each year, NuAB members gather to share progress, challenges, solutions and successes in the development, licensing and commercialization of the game-changing NuScale technology.

Highlights of the meeting included updates on the NuScale Power Module TM refueling sequence, cyber security, the Utah Associated Municipal Power Systems (UAMPS) Carbon-Free Power Project (CFPP), and supply chain activities. NuScale’s TAB members joined NuAB during the first day of meetings.

TAB Chair, Dr. Peter B. Lyons, former Department of Energy Assistant Secretary for Nuclear Energy, stated, “SMRs are a vital part of the future of the U.S. nuclear energy industry. Light water SMRs provide scalable options for applications where large passive gigawatt plants are simply too much for the prospective owner to utilize or finance, and are, in essence, the bridge to other advanced reactors in the distant future. NuScale’s innovative LWR design and its interactions with the NRC are paving the way for what will follow.”

About NuScale Power, LLC

NuScale Power, LLC is developing a new kind of nuclear plant; a safer, smaller, scalable version of pressurized water reactor technology - a technology initially developed and tested at Oregon State University. Fluor Corporation (NYSE: FLR), a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power, is the majority investor in NuScale. NuScale's design offers the benefits of carbon-free nuclear power and reduces the financial commitments associated with giga-watt size nuclear facilities. NuScale's technology is also ideally suited to supply energy for district heating, desalination, and process heat applications.

At the heart of our technology is the fully factory fabricated NuScale Power Module™, an integral reactor vessel surrounded by a high pressure steel containment, which when coupled to its factory fabricated power generation equipment can produce 50 megawatts of electricity. A NuScale power plant can house up to 12 of these modules for a total facility output of 600 megawatts (gross). The scalability afforded by the modular design allows customers to incrementally increase facility output to match demand. The NuScale Power Module™ is premised on well-established nuclear technology principles with a focus on integration of components, simplification or elimination of systems, and use of passive safety features resulting in highly reliable operation underpinned by an extremely strong safety case and unparalleled asset protection, making it suitable to be sited at locations closer to where electricity or process heat are needed.

NuScale is headquartered in Portland, Oregon and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; Arlington, VA; and London, UK.