Press Release

GE Hitachi Set to Transfer Ownership of Closed Vallecitos Nuclear Plant

WILMINGTON, North Carolina—May 9, 2023—GE Hitachi Nuclear Energy (GEH) today announced its intent to transfer ownership of the 1,600-acre GEH Vallecitos Nuclear Center to NorthStar Group Services, Inc. (“NorthStar”) for nuclear decontamination, decommissioning and environmental site restoration. The proposed transaction is subject to certain reviews and approvals by the U.S. Nuclear Regulatory Commission (NRC), the State of California and other state and government entities.

“We have explored strategic alternatives for the site that align to our long-term strategy, changing customer needs and the external business environment,” said Jay Wileman, President & CEO, GEH. “By transferring the site to a recognized decommissioning expert like NorthStar, we can continue meeting our near-term requirements while maintaining focus on our core business product lines.”

GEH will work with the appropriate government entities to complete the license transfer process in a timely manner. Until all transfers are complete, GEH is responsible for the facility and is taking the appropriate steps to ensure the site remains safe and compliant.

GEH currently has about 40 employees who will be impacted by this transaction. For impacted employees who have not secured alternate GE positions at closing, benefits and resources will be available to assist with the transition.

GEH has already started decommissioning the Vallecitos Boiling Water Reactor (VBWR), the General Electric Test Reactor (GETR) and the ESADA Vallecitos Experimental Superheat Reactor (EVESR). As part of the proposed transaction, GEH and NorthStar have signed an asset purchase and sale agreement and will sign a decommissioning completion agreement at closing.