OR-NUSCALE-POWER

NuScale Power, KGHM Polska Miedź S.A. (KGHM), and Piela Business Engineering (PBE) announced today the three companies have signed a Memorandum of Understanding (MOU) to explore the deployment of NuScale’s small modular reactor (SMR) technology as a coal repurposing solution for existing coal-fired power plants and electricity and heat for KGHM’s industrial processes in Poland. KGHM is a Poland-based leader in copper and silver production and PBE is a Poland-based consultancy which specializes in business engineering advisory. This agreement demonstrates international interest in utilizing NuScale’s SMR technology to produce clean, reliable, and affordable energy.

Under the MOU, NuScale will support KGHM and PBE’s examination of NuScale’s SMR technology as a coal repowering/repurposing solution for existing coal-fueled power plants and more broadly for new nuclear plant implementations, as well as for energy in support of industrial operations in Poland. The examination will include an analysis of technical, economic, legal, regulatory, financial, and organizational factors.

“NuScale is thrilled to partner with KGHM and PBE on the potential deployment of NuScale Power plants in Poland,” said John Hopkins, Chairman and CEO of NuScale Power. “The retirement of aging coal-fired power plants is leading to changes in power generation, infrastructure needs, and workforce opportunity. NuScale’s SMR technology is an ideal flexible clean energy solution to repurpose retiring coal fueled power plants and most importantly, retain and retrain the skilled power plant workforce already in place in these Polish communities.”

“The changes in the climate are forcing us to take decisive actions. We are already feeling the impact, including in a financial sense, connected among others with the increases in energy prices. The construction of small nuclear reactors by 2030 is a solid declaration and an element of our energy transformation. We are pioneers in Poland, as we expect that the first of our nuclear power plants will come online in 2029,” said Marcin Chludziński, President of the Management Board of KGHM Polska Miedź S.A. “SMR technology will not only help us to protect the environment but will also substantially reduce the costs of operating our business. This is one of the recently-announced initiatives aimed at growing the company, and we plan to generate power commercially in order to assist in the green transformation of Poland and bring down costs for the average household,” added President Chludziński.

“With the future energy sector, design modular energy sources will play an exceptionally important role,” said Piotr Piela, Founder and Managing Partner of PBE. “This is why the SMR, which is not competitive but truly complementary to big nuclear reactors, is not only a crucial component fitting energy transformation of Poland and many others fossil fuels dependent European Union (EU) countries, but also considered the ‘technology of common interest’ essential to successfully implement the Pan European Green Deal.”

In August 2020, NuScale made history as the first and only SMR to receive design approval from the U.S. Nuclear Regulatory Commission and in July of 2021, the Commission published the proposed rule that would certify the NuScale design – a crucial step towards the construction and deployment of this SMR technology. The company maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans.

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, hydrogen production and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power , Facebook: NuScale Power, LLC , LinkedIn: NuScale-Power , and Instagram: nuscale_power . Visit NuScale Power's website .

About KGHM Polska Miedź S.A.

KGHM is involved in the mining and processing of valuable natural resources. At its heart is the largest deposit of copper ore in Europe, located in south-western Poland. By advancing our strategy we are systematically strengthening KGHM’s international position. Currently the company has a geographically diversified mine project profile. It has operations on three continents – in Europe, North America and South America. The copper ore resources controlled by KGHM guarantee the company a leading position in the mining industry. Our portfolio includes metals such as molybdenum, palladium and nickel, opening the way for KGHM to gain a strong position amongst the world’s diversified miners. www.kghm.com

About Piela Business Engineering

Piela Business Engineering is a Poland based consulting firm providing strategic, operational, engineering and regulatory advisory, primarily focused on energy and chemical sectors. For over 20 years, PBE’s experts have participated in the processes related to the climate and energy transformation and the implementation of the circular economy, working for governments, financial institutions, regulators and enterprises in Poland and abroad. The realized projects included policy papers, strategic studies, feasibility studies, but also full scope preparation of investment projects for implementation.

PBE's experts have been involved in the development of the Nuclear Power Program in Poland since early 2009. www.pbe-molecule.com

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