AREVA Inc., NuScale Power Unveil NuFuel HTP2 Name for Small Modular Reactor Fuel Design

AREVA Inc. and NuScale Power announced today that the modified AREVA HTP-2 fuel design for NuScale’s small modular reactor (SMR) technology will be named NuFuel HTP2™. The announcement was made this week during NuScale’s tri-annual Advisory Board meeting (NuAB) in Corvallis, OR, and follows an agreement signed by the companies in December 2015 for AREVA to design and manufacture the fuel assemblies.

“The development of NuScale’s HTP2 fuel design applies our fuel expertise to power NuScale’s new technology,” said Ron Land, senior vice president, U.S. Fuel. “This announcement puts a name on our cooperative effort and represents our commitment to this project.”

“As we prepare documentation for our Design Certification Application, we needed a name for our fuel product that we could use consistently with the NRC while also building name recognition with our customers,” said Mike McGough, NuScale’s chief commercial officer. “NuFuel HTP2™ captures our spirit of innovation while representing the bond with AREVA’s fuel expertise.”

The innovative fuel design is an adaptation of AREVA’s proven HTP™ pressurized water reactor (PWR) designs. The mechanical and thermal hydraulic testing of these new fuel assemblies are underway as part of NuScale’s 50MWe SMR design certification application, which is planned for submission to the U.S. Nuclear Regulatory Commission later this year.

Since winning the second round of the U.S. Department of Energy’s competitively-bid, cost-sharing program in December 2013, interest in participating in NuAB has grown and is now comprised of 25 member companies including the owners and operators of nearly two-thirds of the US operating fleet of commercial nuclear power plants. NuAB attendees were provided with technical and regulatory briefings in order to provide guidance to NuScale on the company’s path to commercialization.

About NuScale

NuScale Power, LLC is developing a new kind of nuclear plant; a safer, smaller, scalable version of pressurized water reactor technology, designed with natural safety features; a technology initially developed and tested at Oregon State University. Fluor Corporation (NYSE: FLR), a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power, is the majority investor in NuScale. As the sole winner of the second round of the U.S. Department of Energy’s (DOE) competitively-bid, cost-sharing program to develop nuclear small modular reactor (SMR) technology, NuScale’s design offers the benefits of carbon-free nuclear power but takes away the issues presented by the cost of installing large capacity. A nuclear power plant using NuScale’s technology is comprised of individual NuScale Power Modules™, each producing 50 megawatts of electricity (gross) with its own factory-built combined containment vessel and reactor vessel, and its own packaged turbine-generator set. A power plant can include as many as 12 NuScale Power Modules to produce as much as 600 MWe, gross (570 net, nominal, after house loads). The reactor coolant is driven by natural circulation and can be shut down safely with no operator action, no AC or DC power, and no external water supply. NuScale power plants are scalable – additional modules are added as customer demand for electricity increases. NuScale’s technology also is ideally suited to supply energy for district heating, desalination, and other applications. NuScale is headquartered in Portland, Oregon and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; and Richland, WA. For more information visit: www.nuscalepower.com or follow us on Twitter: @NuScale_Power.

About AREVA Inc.

AREVA Inc., a subsidiary of AREVA NP, combines U.S. and Canadian leadership to supply high added-value products and services to support the operation of the commercial nuclear fleet. Globally, AREVA is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor primary circuit design and fabrication, and operating fleet engineering and services. AREVA is recognized by utilities around the world for its expertise, its skills in cutting-edge technologies, and its dedication to the highest level of safety. AREVA Inc.’s 4,100 employees are helping build tomorrow’s energy model: supplying ever safer, cleaner and more economical energy to the greatest number of people. Visit us at http://us.areva.com or follow us on Twitter: @AREVAus.

Contact: NuScale Power, Chief Commercial Officer, Mike McGough, 503-715-2238, [email protected]