OR-NUSCALE-POWER

NuScale Power LLC (NuScale) and Prodigy Clean Energy Ltd. (Prodigy) have announced a new conceptual design for a transportable and marine-based small modular reactor (SMR) power generating facility that provides dramatically improved transportability, manufacturability, economics, safety, and security. The updated concept will be used for engagements with utilities, regulators, and shipyard manufacturers.

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Prodigy is a Canadian company specializing in the development of Transportable Nuclear Power Plants (TNPPs). NuScale and Prodigy have been collaborating since 2018 under a Memorandum of Understanding (MOU) with the joint goal of bringing a competitive North American SMR marine facility to market – a product that can generate safe, affordable, and reliable electricity at grid-scale at any coastal location worldwide. Carbon-free power generated by these facilities would support at scale electrification, as well as production of zero carbon fuels, such as hydrogen and ammonia, to decarbonize the transport and shipping sectors.

Similar to the terrestrial NuScale VOYGR™ SMR power plant, Prodigy’s SMR Marine Power Station™ (MPS) is scalable, being able to house from 1 to as many as 12 NuScale Power Modules™ (NPM) for a total output of 924 MWe. After transport to the deployment location, the marine facility would be fixed in place within a protected harbor and connected to shoreside transmission and process heat systems. Nuclear fuel would be loaded in the NPMs as the last step of the commissioning process before beginning power generation. Operations, security, and fuel handling protocols are equivalent to those used for a traditional nuclear power plant under existing nuclear regulations. At the end of its life, the marine facility would be transported to a marine-accessible center for decommissioning.

“NuScale is extremely proud to continue this partnership with Prodigy, as utilization of a transportable marine facility will enable us to deploy the NuScale Power Module at more locations around the world,” said John Hopkins, NuScale Power President and Chief Executive Officer. “By combining Prodigy’s technologies with NuScale’s safe, scalable, and innovative SMR design, we are confident in our ability to deliver our carbon-free and cost-competitive SMR technology globally.”

“It is our privilege to partner with NuScale to expand global access to clean, baseload energy generation. By packaging the NPM into Prodigy’s marine facility, we will offer countries a near-term solution to address energy security and to decarbonize their economies, including replacing coal-fired plants – many of which are located at the coast,” said Mathias Trojer, Prodigy Clean Energy President and Chief Executive Officer

Compared to terrestrial deployments, the benefits of using Prodigy’s technologies to deploy the NuScale VOYGR SMR power plant begins with manufacturing and outfitting of the entire marine facility in a shipyard, enabling expedited delivery. Further advantages include a significantly reduced capital expenditure; accelerated project schedule; minimized site preparation; reduced environmental impact; unlocked project financing structures that are not typically available to conventional site-constructed nuclear plants; and simplified and expedited decommissioning and site recovery. The marine facility’s design is standardized to allow for deployment at a wide variety of sites and for serial manufacturing.

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.

About Prodigy

Prodigy Clean Energy is a Canadian developer of marine- and land-based Transportable Nuclear Power Plants (TNPPs). The company specializes in integrating existing, commercial power reactors into marine civil structures for commercial energy generation. Prodigy’s Microreactor Power Station™ and Small Modular Reactor (SMR) Marine Power Station™ TNPPs can be used to deploy reactors of various sizes and types, offering a range of power solutions from 1 megawatt to gigawatt scale. The principal benefits of Prodigy’s civil structure technologies include: i) Enhanced safety; ii) Significantly reduced capital investment and reduced risks of cost and schedule overruns; iii) Wider potential of siting opportunities; iv) Relocation and redeployment flexibility; v) Substantial decommissioning advantages, including immediate recovery of site, and reduced costs by means of off-site decommissioning at a dedicated facility; and vi) Benefits of enabled changes to commercial and financing arrangements that are not otherwise available for traditional site-constructed nuclear power projects.

Learn more at www.prodigy.energy. Follow us on Twitter: @ProdigyCEnergy

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.

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