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NuScale Power Joins the United Nations 24/7 Carbon-Free Energy Compact

Business Wire - Tue Nov 15, 2022

NuScale Power Corporation (NYSE: SMR) has joined the United Nations (UN) 24/7 Carbon-free Energy Compact (CEC) to advance the UN’s goal of accelerating the decarbonization of the world’s electricity systems to mitigate climate change and ensure access to clean and affordable electricity. The announcement was made as NuScale’s leaders participate at the 2022 United Nations Climate Change Conference in Sharm El-Sheikh, Egypt.

By joining the UN 24/7 Carbon-free Energy Compact, NuScale becomes a member of a global community of organizations collaborating to develop solutions that enable access to 24/7 carbon-free energy. A key principle of the CEC is the advancement of carbon-free energy technology such as NuScale’s VOYGR™ small modular reactor (SMR) power plants which can provide a source of reliable, high-capacity, and carbon-free energy while supporting a higher penetration of intermittent renewable generation sources. NuScale will also advocate for policies that support and accelerate the decarbonization movement and will encourage supply chain partners and investors to also join the UN 24/7 CEC.

“It cannot be emphasized enough - decarbonization is a global movement that requires cross-collaboration, and NuScale is proud to be part of the solution,” said John Hopkins, NuScale President and Chief Executive Officer. “NuScale is looking forward to working with CEC members to advance global decarbonization and accelerate the deployment of solutions such as our VOYGR SMR, which can meet the growing need for clean energy and energy security.”

Electricity accounts for over 30% of the world’s greenhouse gas emissions and is recognized as a critical sector that must be decarbonized to achieve net-zero goals by 2050. Meeting this challenge will require a rapid acceleration in the pace of clean energy deployment and the development of carbon-free energy technology and policy changes. By joining the CEC, NuScale illustrates that decarbonization can be found throughout the supply chain, and that NuScale small modular reactors are part of the broader solution to deep emissions reductions.

About NuScale Power

NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.

Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.

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. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Provided Content: Content provided by Business Wire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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