NuScale, Sargent & Lundy Announce Strategic Relationship

PORTLAND, Ore. (May 23, 2019) —NuScale Power LLC and Sargent & Lundy today announced a memorandum of understanding (MOU) for a strategic relationship to support deployment of NuScale Plants worldwide.

Sargent & Lundy, a global leader in power engineering with more than 60 years of experience in nuclear unit design, will bring its expertise to the larger U.S.-led team working to build NuScale’s groundbreaking NuScale Power Module™ (NPM), America’s first small modular reactor.

“NuScale is excited about this new strategic relationship with Sargent & Lundy, a global leader in power and energy architect engineering,” said John Hopkins, Chairman and Chief Executive Officer of NuScale Power. “We are proud to have Sargent & Lundy’s expertise in our corner expanding the breadth of our design development team to bring NuScale’s pioneering design – and America’s first SMR – to market.”

Under the terms of the MOU, Sargent & Lundy will become a NuScale investor, proceed with development of the standard plant design based on the U.S. Design Certification Application, and will provide additional architect engineer support as agreed by NuScale and Sargent & Lundy. Fluor Corporation will continue to be the EPC for plant construction as planned and will work with NuScale and Sargent & Lundy on aspects of the NuScale standard plant design.

“We are inspired by the simplicity and exceptional safety inherent in NuScale’s design and expect this technology to have a major impact on the future of the electric power industry,” said Sargent & Lundy Chairman, President & Chief Executive Officer Thomas R. White. “We are proud to partner with NuScale as the company continues progress towards a clean energy future for America and around the globe.”

Under the terms of the MOU, the companies are aiming to close the strategic relationship within the next 30 days.

NuScale’s technology is the world’s first and only SMR to undergo design certification review by the U.S. Nuclear Regulatory Commission (NRC). The NRC is scheduled to complete its review of NuScale’s design in September 2020.