NuScale Expands Canadian Market Effort Through MOU with Bruce Power

PORTLAND, Ore. (November 27, 2018) — NuScale Power announced today that it has signed a memorandum of understanding (MOU) with Bruce Power L.P., Canada’s first private nuclear generator, to develop a business case to introduce NuScale’s small modular reactor (SMR) technology to the Canadian market. This latest agreement demonstrates the growing enthusiasm in Canada for NuScale’s pioneering nuclear technology.

“Bringing NuScale’s safe, scalable, economic and carbon-free reactor to Canadian customers makes sense both from an energy and business perspective and we are thrilled to have the support of leading power generator Bruce Power as we make this case,” said NuScale Chairman and Chief Executive Officer John Hopkins. “Bruce Power’s expertise in managing nuclear plants as a private company adds additional valuable experience as we move into the Canadian market.”

Through the agreement, Bruce Power will support evaluation, planning and licensing activities, all of which will serve an important role in demonstrating the business case for why NuScale’s technology is the right choice for Ontario and Canada. This will include studies on the impacts of deployment of a NuScale plant in the province, feasibility studies for proposed SMR sites, and other risk evaluation exercises to show how SMR deployment can benefit Canadians.

“The NuScale design has advanced to a stage where Bruce Power can participate in understanding and developing a conceptual business case as part of our efforts to provide low-cost, clean, reliable electricity to Canadian families and businesses,” said Bruce Power President and Chief Executive Officer Mike Rencheck. “We look forward to working with NuScale.”

Bruce Power is a privately-owned operator of nuclear power generating stations and provides 30 per cent of the power delivered in the Province of Ontario at 30 per cent below the average cost to produce residential power through its operation of approximately 6,400 MW of nuclear generation capacity.

In May 2018, Bruce Power and the County of Bruce announced a partnership to establish the Nuclear Innovation Institute (NII) as an international centre of excellence for applied research and training, which will evaluate applications for new nuclear technologies including Small Modular Reactor (SMRs).

The announcement follows an MOU that NuScale signed earlier this month with Ontario Power Generation Inc. to support NuScale in its vendor design review with the Canadian Nuclear Safety Commission.

NuScale’s innovative and unique SMR design has unparalleled safety and reliability performance, is factory-made, and offers scalable power based on need – an unprecedented capability in the nuclear energy industry. The U.S. Nuclear Regulatory Commission is scheduled to complete NuScale’s Design Certification application in September 2020.