{"id":759778,"date":"2023-05-22T06:53:08","date_gmt":"2023-05-22T10:53:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/biden-administration-announces-global-public-private-commitment-up-to-275-million-to-advance-nuscale-voygrtm-deployment-in-romania-at-g7-leaders-summit\/"},"modified":"2023-05-22T06:53:08","modified_gmt":"2023-05-22T10:53:08","slug":"biden-administration-announces-global-public-private-commitment-up-to-275-million-to-advance-nuscale-voygrtm-deployment-in-romania-at-g7-leaders-summit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/biden-administration-announces-global-public-private-commitment-up-to-275-million-to-advance-nuscale-voygrtm-deployment-in-romania-at-g7-leaders-summit\/","title":{"rendered":"Biden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM Deployment in Romania at G7 Leaders Summit"},"content":{"rendered":"

<\/p>\n

Biden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM<\/sup> Deployment in Romania at G7 Leaders Summit<\/b><\/p>\n

United States also issues Letters of Interest for up to $4 billion in project financing<\/i>; support will propel the SMR power plant project to the commencement of construction at the Doicesti site<\/i><\/b><\/p>\n

PORTLAND, Ore.–(BUSINESS WIRE<\/a>)–
\nOn the margins of the G7 Leaders Summit in Hiroshima, Japan, the Biden Administration announced, along with multinational partners, intentions to provide up to $275 million to advance the deployment of a NuScale Power Corporation (NYSE: SMR) VOYGR\u2122 small modular reactor (SMR) power plant in Romania. The public-private commitments include those from the United States, Japan, Republic of Korea, and United Arab Emirates, and will support procurement of long lead materials, Phase 2 Front-End Engineering and Design (FEED) work, provision of project management expertise, site characterization and regulatory analyses, and the development of site-specific schedule and budget estimates for project execution. In addition, the U.S Export-Import Bank (EXIM) and U.S. International Development Finance Corporation (DFC) issued Letters of Interest for potential support of up to $3 billion and $1 billion, respectively, for project deployment.<\/p>\n

\nNuScale and RoPower Nuclear S.A. (RoPower), owned in equal shares by S.N. Nuclearelectrica S.A. (Nuclearelectrica) and Nova Power & Gas S.R.L., are currently conducting a Phase 1 FEED study<\/a> to analyze the preferred site \u2013 a former coal plant in Doicesti, Romania. Following the FEED studies\u2019 results, the companies aim to deploy a 462 MWe VOYGR-6 power plant to help Romania meet energy security and decarbonization goals.<\/p>\n

\nThe Biden Administration\u2019s announcement was a part of the G7 Leaders\u2019 commitment to mobilize $600 billion in infrastructure investments under the Partnership for Global Infrastructure and Investment.<\/p>\n

\n\u201cSupport from the Biden Administration and international partners is a signal to energy markets around the world that NuScale SMRs are an important new technology solution to global decarbonization and that Romania has the capabilities and experience to support its deployment,\u201d said John Hopkins, NuScale Power President and Chief Executive Officer. \u201cWe are thrilled public-private partnerships are helping deploy our leading SMR technology as soon as 2029.\u201d<\/p>\n

\nAdditional NuScale partners advancing the Romania project include Japan Bank for International Cooperation (Japan); DS Private Equity (Republic of Korea); EXIM Bank Romania, Nuclearelectrica, Nova Power & Gas S.R.L. (Romania); Emirates Nuclear Energy Corporation (United Arab Emirates); DFC and EXIM (United States). The announcement from the U.S. government and presence of public-private partners exemplify the global dedication to transforming the energy sector with carbon-free, reliable, baseload power like that provided by NuScale\u2019s technology.<\/p>\n

\nEarlier this month, NuScale and Nuclearelectrica opened the first international NuScale Energy Exploration Center<\/a> (E2 Center) in Europe, in collaboration with the U.S. and Romanian governments. The SMR simulator was installed at the University Politechnica of Bucharest to strengthen the strategic partnership with Romania, further Romania\u2019s goals of becoming a leader in the secure and safe deployment of SMRs, and serve as a workforce development tool for Nuclearelectrica and the Romanian nuclear workforce. The E2 Center\u2019s opening highlights the rapidly growing global support for NuScale as a clean energy leader.<\/p>\n

About NuScale Power<\/b><\/p>\n

\nNuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The company\u2019s groundbreaking VOYGR\u2122 SMR plants are powered by the NuScale Power Module\u2122, a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.<\/p>\n

\nAs the first and only SMR to have its design certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.<\/p>\n

\nFounded in 2007, NuScale is headquartered in Portland, Ore. To learn more, visit NuScale Power\u2019s website<\/b><\/a> or follow us on Twitter<\/b><\/a>, Facebook<\/b><\/a>, LinkedIn<\/b><\/a> and Instagram<\/b><\/a>.<\/p>\n

Forward Looking Statements<\/b><\/p>\n

\nThis release may contain \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d 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 \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201ctarget\u201d 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\u2019s 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\u2019s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230522005271\/en\/<\/a><\/span><\/p>\n

Media Contact
\n<\/b>
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
\n
dhughes@nuscalepower.com
\n<\/a>
(503) 270-9329<\/p>\n

Investor Contact
\n<\/b>
Scott Kozak, Director, Investor Relations, NuScale Power
\n
skozak@nuscalepower.com
\n<\/a>
(541) 452-7583<\/p>\n

KEYWORDS:<\/b> Europe Romania United States North America Oregon<\/p>\n

INDUSTRY KEYWORDS:<\/b> Nuclear Public Policy\/Government Energy White House\/Federal Government<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Biden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM Deployment in Romania at G7 Leaders Summit United States also issues Letters of Interest for up to $4 billion in project financing; support will propel the SMR power plant project to the commencement of construction at the Doicesti site PORTLAND, Ore.–(BUSINESS WIRE)– On the margins of the G7 Leaders Summit in Hiroshima, Japan, the Biden Administration announced, along with multinational partners, intentions to provide up to $275 million to advance the deployment of a NuScale Power Corporation (NYSE: SMR) VOYGR\u2122 small modular reactor (SMR) power plant in Romania. The public-private commitments include those from the United States, Japan, Republic of Korea, and United Arab Emirates, and … <\/p>\n

Continue reading “Biden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM Deployment in Romania at G7 Leaders Summit”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-759778","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBiden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM Deployment in Romania at G7 Leaders Summit - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/biden-administration-announces-global-public-private-commitment-up-to-275-million-to-advance-nuscale-voygrtm-deployment-in-romania-at-g7-leaders-summit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM Deployment in Romania at G7 Leaders Summit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Biden Administration Announces Global Public-Private Commitment Up to $275 Million to Advance NuScale VOYGRTM Deployment in Romania at G7 Leaders Summit United States also issues Letters of Interest for up to $4 billion in project financing; support will propel the SMR power plant project to the commencement of construction at the Doicesti site PORTLAND, Ore.–(BUSINESS WIRE)– On the margins of the G7 Leaders Summit in Hiroshima, Japan, the Biden Administration announced, along with multinational partners, intentions to provide up to $275 million to advance the deployment of a NuScale Power Corporation (NYSE: SMR) VOYGR\u2122 small modular reactor (SMR) power plant in Romania. 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