OR-NUSCALE-POWER

NuScale Power Corporation (NYSE: SMR) announced today the opening of a NuScale Energy Exploration Center (E2 Center) at University Politehnica of Bucharest in support of a collaboration with the United States and Romanian governments, and S.N. Nuclearelectrica S.A. (Nuclearelectrica). Key government officials attended the opening, including U.S. Ambassador to Romania Kathleen Kavalec, Romania Prime Minister Nicolae Ciuca, and Romanian Minister of Energy Virgil Popescu. As the first international E2 Center, this workforce development tool will enable Romania to develop the next generation of advanced nuclear experts, technologists, and operators and become a hub for deploying small modular reactors (SMR) in Europe.

“NuScale’s SMR nuclear technology is the premier global clean energy solution and can help advance Romania’s position as a leader in the secure and safe deployment of SMRs,” said John Hopkins, NuScale President and Chief Executive Officer. “With the support of the DOS under the FIRST program, we are thrilled to hit another milestone in this remarkable collaboration among our countries and organizations. We look forward to supporting the next generation of clean energy leaders across the region and around the globe.”

The E2 Center was funded by the U.S. Department of State (DOS) under the Foundational Infrastructure for the Responsible Use of Small Modular Reactor Technology (FIRST) program. FIRST supports partner countries in advancing their nuclear energy programs to meet their clean energy goals under the highest international standards for nuclear safety, security, and nonproliferation.

"The SMR project at Doicesti, which this E2 Center supports, will showcase Romanian leadership in energy innovation, accelerate the clean energy transition, create thousands of jobs in Romania and the U.S., and strengthen European energy security while upholding the highest standards for nuclear safety, security, and nonproliferation,” said Ann Ganzer, Principal Deputy Assistant Secretary, Bureau of International Security and Nonproliferation.

This announcement builds upon NuScale Power and Nuclearelectrica’s teaming agreement signed in 2021 to deploy a 462 MWe NuScale VOYGR^TM-6 power plant in Romania by the end of the decade. Earlier this year, NuScale and RoPower Nuclear S.A. (RoPower), owned in equal shares by Nuclearelectrica and Nova Power & Gas S.A., commenced front-end engineering and design work for a site in Doicesti, Romania, the preferred location for the deployment of the VOYGR power plant.

Romania has the potential to be one of the first deployments of an SMR in Europe and to become a catalyst for SMRs in the region by serving as a base for supporting operations of this new technology in other countries, as well as the production and assembly of plant components.

“Building on the strong nuclear experience in safe operations for more than 26 years, we are proud to support Romania’s workforce development in the nuclear sector for a new technologically advanced future. Nuclearelectrica has outstanding specialists and operational performance, and is internationally recognized, which not only places Romanian nuclear industry as a top performer, but also as the foundation for Romania’s leadership in nuclear energy. Nuclearelectrica has strong assets, which qualifies us to be the first country after the U.S. to deploy a NuScale SMR. The first E2 Center launched in Romania is only the beginning of this new era in technology, human resources, safe, affordable clean energy, with multiple benefits for communities and industries, to which we are happy to contribute,” Cosmin Ghita, Chief Executive Officer of Nuclearelectrica.

“Nuclear energy and SMRs are included in Romania’s energy strategy as a main pillar for energy security and reaching our decarbonation targets. Our commitment to increase energy production from clean nuclear energy sources will create much needed complementarity with renewable resources, increase flexibility in the system, and allow further complex development of former coal-based facilities. The 26 years of Romanian safe operation expertise are the basis for further developing Romania’s nuclear energy program. The energy transition is not possible without maintaining and expanding the role of nuclear power and it requires strong international partnerships, like the one we are enhancing today. I thank our American partners for their continuous support, Nuclearelectrica for its leadership in the industry and capability to take on the journey to become a regional preferred operator, and University of Politehnica for their dedication towards performance and workforce development. I want to give a clear message: The Romanian Prime Minister Nicolae Ciuca, our Government, and Romanian President Klaus Iohannis strongly support the development of nuclear energy and the effort to form experts in this domain,” said Virgil Popescu, Minister of Energy, Romania.

The E2 Center is an innovative learning environment that offers users a hands-on opportunity to apply nuclear science and engineering principles through simulated, real-world nuclear power plant operation scenarios. The E2 Center employs state-of-the-art computer modeling to simulate a NuScale VOYGR SMR power plant control room. Users have the opportunity to take on the role of a “Control Room Operator” at a VOYGR plant to learn about the advanced operational and safety features unique to NuScale’s technology.

The University Politehnica of Bucharest is one of the elite schools of the Romanian higher education system. The school was established in 1950, and offers highly appreciated academic studies and programs for more than 2,000 students a year.

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.

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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