NuScale Power Announces Fuel Handling and Storage Rack Contracts with Framatome

Contracts include important design and future fabrication activities, critical to NuScale’s small modular reactor (SMR) technology delivery

NuScale Power, LLC (NuScale) announced today it has awarded two new contracts to Framatome to design fuel handling equipment and fuel storage racks for NuScale’s VOYGR™ SMR power plant. This marks a critical supply chain and manufacturing development step, as NuScale fulfills customers’ project timelines to deploy its groundbreaking technology by the end of the decade.

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“NuScale is proud to strengthen our relationship with Framatome, a renowned and widely respected international leader in nuclear energy,” said Dale Atkinson, NuScale Chief Operating Officer and Chief Nuclear Officer. “This agreement showcases how NuScale’s technology is meticulously developed with a premier international nuclear design and fabrication organization.”

Framatome will be partnering with American Crane and Orano to design and adapt its existing fuel handling equipment and high-density spent fuel storage rack designs to meet the needs of a NuScale VOYGR power plant. These organizations will develop optimal design and fabrication of this equipment in line with the VOYGR plant deployment schedule.

“These awards build on our partnership as NuScale’s fuel assembly supplier and signify an important opportunity with NuScale and its industry-leading VOYGR power plant,” said Catherine Cornand, senior executive vice president of the Installed Base business unit at Framatome. “We are deeply rooted in the nuclear industry with proven expertise to assist in developing the next generation of advanced nuclear plants for a transition to clean energy.”

This announcement sustains the momentum between NuScale and Framatome, which began in 2014. Through this expanded partnership, the pair will continue to work together on existing fuel design and other engineering and licensing scopes of work, utilizing our combined expertise throughout the commercialization and deployment of NuScale’s VOYGR plants.

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.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.

About Framatome

Framatome is an international leader in nuclear energy recognized for its innovative, digital and value added technologies for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 16,000 employees work every day to help Framatome’s customers supply ever cleaner, safer and more economical low-carbon energy. Visit us at www.framatome.com, and follow us on Twitter and LinkedIn. Framatome is owned by the EDF Group (75.5%), Mitsubishi Heavy Industries (MHI – 19.5%) and Assystem (5%).

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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