Kazakhstan Nuclear Power Plants LLP and NuScale Power agree to work together to evaluate NuScale�s groundbreaking technology as a clean energy solution in Kazakhstan

PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power and Kazakhstan Nuclear Power Plants LLP (KNPP) announced today that the two organizations have signed a Memorandum of Understanding (MOU) to explore the deployment of NuScale VOYGR� power plants in Kazakhstan. The agreement advances the rapidly growing global consensus that small modular reactors (SMRs) will play a critical role in delivering safe, reliable, and emissions-free energy.

KNPP specializes in the development of nuclear power plant construction in Kazakhstan. The agreement calls for a sharing of nuclear and technical expertise between NuScale and KNPP as they examine the value NuScale�s SMR technology could bring to the country. Under the MOU, NuScale will support KNPP�s evaluation of NuScale�s SMR technology, including nuclear power plant engineering, construction, commissioning, operation and maintenance, and project-specific studies and design work.

KNPP has been actively studying the prospects for further nuclear energy development, and NuScale�s technology continues to prove itself as a best-fit, climate contender. The MOU builds on the existing relationship between NuScale and KNPP, as NuScale previously submitted a Technical and Price Offer (TPO) to KNPP in 2019.

�NuScale is excited to partner with KNPP on the potential deployment of a NuScale power plant,� said John Hopkins, President and Chief Executive Officer of NuScale Power. �NuScale is continuing to gain impressive momentum in international interest around the globe. We look forward to continuing our collaboration with KNPP and demonstrating the immense benefits of our technology to the people of Kazakhstan as they seek safe, emissions free, and reliable methods of decarbonization.�

�Kazakhstan has set the goal of achieving carbon neutrality by 2060. To solve this difficult task, carbon-free sources such as nuclear power along with renewable energy are to be considered,� said Timur Zhantikin, Chief Executive Officer of KNPP. �Small modular reactors are the most promising for Kazakhstan, and we consider the cooperation of KNPP with NuScale Power as a real opportunity to develop this direction and achieve the set goal of the country's transition to a green economy.�

This announcement follows a string of previous MOUs signed earlier this year with customers in countries such as Poland and Bulgaria, signaling the global interest in NuScale�s SMRs as a critical means to reach countries� climate goals. Additionally, NuScale signed a teaming agreement with Romania�s Nuclearelectrica at the United Nations Conference on Climate Change (COP26), as the organizations begin taking steps toward deploying the first NuScale 6-module, 462 MWe, VOYGR-6 power plant in Romania as early as 2027/2028. This latest agreement with KNPP is another step forward in continuing NuScale�s momentum to commercialize its technology and showcase the variety of applications of NuScale Power Modules�.

In August 2020, NuScale made history as the first and only SMR to receive design approval from the U.S. Nuclear Regulatory Commission and in July of 2021, the Commission published the proposed rule that would certify the NuScale design � a crucial step towards the construction and deployment of this SMR technology. The company maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans.

About NuScale Power

NuScale Power is poised to meet the diverse energy needs of customers across the world. It has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, hydrogen production and other process heat applications. The groundbreaking NuScale Power Module� (NPM), a small, safe pressurized water reactor, can generate 77 MWe of electricity and can be scaled to meet customer needs. The VOYGR�-12 power plant is capable of generating 924 MWe, and NuScale also offers the four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) and other configurations based on customer needs. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, Ore. and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power's website.

About KNPP

The Kazakhstan Nuclear Power Plants Limited Liability Partnership (KNPP LLP) was established in July 2014 in accordance with the Government�s Priority Action Plan for the construction of a nuclear power plant in the Republic of Kazakhstan. The founder is Samruk-K?zyna National Welfare Fund JSC - an investment holding company that unites a number of companies in the oil and gas, energy, mining, transport and telecommunications sectors, with total assets of over 60 billion US dollars.

KNPP is a commercial company called by the Fund to implement a large investment infrastructure project, to ensure its payback, energy efficiency and profitability. The purpose of the KNPP is to ensure the development of pre-design and project documentation, as well as the organization of work on the construction of a nuclear power plant in the Republic of Kazakhstan. The company focuses on the most promising foreign projects of power plants, both large (1000-1400 MW) and low-power (60-300 MW).

KNPP is headquartered in Nur-Sultan, Kazakhstan.

Contacts

Diane Hughes, Vice President, Marketing & Communications, NuScale Power

[email protected]
(C) (503) 270-9329

Timur Zhantikin, Chief Executive Officer, KNPP

[email protected]