NuScale Power and KGHM sign contract to start deployment of the first small modular reactor in Poland

PORTLAND, Oregon.–(BUSINESS WIRE)–On September 7, 2022, at the Economic Forum in Karpacz, Poland, NuScale Power LLC (NuScale) and the Polish KGHM Polska Miedź SA (KGHM) signed the first task order and a statement of intent to start working under the early Works Agreement (EWA) signed by the companies in February 2022.

Under the Task Order, NuScale will continue to support KGHM’s application to the National Atomic Energy Agency (NAEA), Poland’s first application for the deployment of small modular reactors (SMRs), for the evaluation of the innovative SMR technology from NuScale, through activities such as preparing additional preliminary safety analysis reports and aligning with the NAEA. This task sequence also forms the basis for the following tasks in the EWA as proposed by NuScale to KGHM.

“This agreement marks an important milestone in NuScale and KGHM’s history of collaboration, putting KGHM and Poland leaders in the race to rapidly reduce emissions worldwide,” said John Hopkins, NuScale Power President and Chief Executive Officer. “NuScale is proud to partner with KGHM, an accomplished innovation leader, and we are excited to partner to bring about the next era of advanced clean energy deployment and address the climate crisis.”

In addition to signing at the Forum, both companies held a press event to highlight the continuation of the collaboration and were visited earlier in the day by Polish Prime Minister Mateusz Morawiecki, who was briefed on the status of NuScale’s technology.

This announcement is an important next step in laying the groundwork for the project initiation for the first NuScale VOYGR™ SMR plant in Poland and Central Europe, allowing KGHM to become a catalyst for SMRs in the region.

About NuScale Power

NuScale Power (NYSE: SMR) is ready to meet the diverse energy needs of customers around the world. It has developed small modular reactor (SMR) nuclear technology to provide 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 the needs of the customer.

Founded in 2007, NuScale is headquartered in Portland, Oregon, with offices in Corvallis, Oregon; Rockville, Maryland; Charlotte, NC; Richland, Washington; and London, UK. For more information, visit NuScale Power’s website or follow us on Twitter, facebook, LinkedIn and Instagram.

About KGHM Polska Miedź SA

KGHM is involved in the extraction and processing of valuable natural resources. At its heart is Europe’s largest copper ore deposit, located in southwestern Poland. By continuing our strategy, we are systematically strengthening KGHM’s international position. Currently, the company has a geographically diversified mining project profile. It has offices 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, paving the way for KGHM to gain a strong position among the diversified miners of the world.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimates,” “plans,” ” project”, “forecast”, “intend”, “will”, “expect”, “anticipate”, “believe”, “seek”, “targets” or other similar expressions that indicate future events or trends or that are not historical facts to be. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may vary significantly due to a number of factors. Caution should be exercised in reliance on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from expectations and projections. NuScale expressly disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon to represent NuScale’s assessments as of a date after the date of this press release. Accordingly, undue reliance should not be placed on the forward-looking statements.

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