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News releases about NuScale Power, Inc.June 2010Power Industry Veteran Bill Coley Joins NuScale Board of DirectorsCorvallis, Ore. (June 30, 2010) – Veteran electric utility executive William A. Coley has joined the board of directors of NuScale Power, Inc., the company announced today. “Bill Coley’s wealth of experience in all phases of power generation will be a great asset to NuScale,” said Paul Lorenzini, chief executive officer of NuScale. “We are delighted that Bill has accepted our invitation to serve on the board. Coley retired last year as chief executive of British Energy Group PLC after five years in that position. He previously served as president of Duke Power Co. of Charlotte, NC, from 1997-2003, culminating a 37-year career with the utility. He said he looks forward now to working with a leader in the renaissance of nuclear power. “NuScale’s unique modular, scalable, light water reactor design brings advantages that will make it very attractive in markets worldwide,” Coley said. “NuScale has the right combination of inherent safety, environmental benefit and economics to make it the nuclear power technology of choice for many utilities.” Odo Habeck, CEO of MK Capital and a NuScale board member, welcomed Coley to the board. “All of us who serve on the NuScale board are pleased to welcome Bill to this exciting company,” Habeck said. “Bill is that rare professional who knows not only nuclear technology, but also how energy executives and investors think. All of us in the NuScale family look forward to working with him.” Coley began his career with Duke Power as a junior engineer at the Marshall Steam Station in 1966. After holding a range of engineering and operating positions, he became senior vice president for power delivery in 1988. He was elected to Duke Power's board of directors in 1990. Coley is a director of Peabody Energy (NYSE:BTU), and of E.R. Jahna Enterprises, a privately-held company. About NuScale: NuScale Power is developing a modular, scalable nuclear power reactor. A power plant using NuScale’s standard design will produce 540 MWe using 12 of NuScale’s 45 MWe light water modular reactors. The company expects to apply to the Nuclear Regulatory Commission in early 2012 for design certification with a goal of bringing a plant online as early as 2018. ### Nuclear Industry Veteran Edward Wallace Joins NuScale Power’s Executive TeamCORVALLIS, Ore. (June 17, 2010) – NuScale Power Chief Executive Officer Paul Lorenzini today announced that Edward G. Wallace has accepted the position of Senior Vice President for Regulatory Affairs with the company. “We are extremely pleased that Ed has agreed to lead our efforts to license our modular, scalable nuclear technology and power plant design,” Lorenzini said. “He brings a wealth of experience in regulatory affairs and in virtually every aspect of the nuclear power industry.” Wallace will direct the submission to the NRC of an application for design certification of NuScale’s small, modular, scalable, natural circulation light water reactor. The company expects to submit the application in 2012 with the goal of supporting a plant on line as early as 2018. Wallace was the founder and president of GNBC, a consulting firm on nuclear power and electric utility issues based in Chattanooga, TN. Since 2004 he filled the role of Senior General Manager – US Programs – PBMR Pty, Ltd. where he was responsible for the development and delivery of PBMR programs in the US including US Nuclear Regulatory Commission design certification. PBMR Pty Ltd, based in South Africa, is the developer of an advanced, small, standardized nuclear power plant for global markets. Wallace has played key roles in a wide range of activities in the nuclear industry, including work on licensing the pebble bed modular reactor for Exelon and the direction of the merger of PECO Energy and Unicom nuclear organizations. Among his responsibilities at Tennessee Valley Authority, beginning in 1990, was senior manager, licensing and regulatory affairs. From 1996-1999 he was general manager, Service Contracts, where he directed all of TVA’s labor and service contracting policies and practices. A graduate of the U.S, Naval Academy, Wallace served as a nuclear submarine officer. He holds a master of business administration degree from University of Tennessee, Chattanooga. ABOUT NUSCALE: NuScale Power has designed an NSSS and nuclear power plant that offers the benefits of nuclear power but takes away the issues presented by installing large capacity. The NuScale design is for a modular, scalable Light Water Reactor nuclear power plant system. An NPP using NuScale’s standardized design produces 540 MWe powered by 12 NuScale integral PWR modules. Each NuScale module produces 45 MWe and has its own combined containment vessel and reactor system, and its own designated turbine-generator set. NuScale power plants are scalable – additional modules are added as customer demand for electricity increases. These multi-module plants are highly reliable – one unit can be taken out of service for refueling or maintenance, or a new unit added, without affecting the operation of the others. ### Smaller, simpler, safer nuclear plant will cost less, come on line soonerKANSAS CITY, Mo. (June 8, 2010) – Capturing “the economies of small” is pivotal in our nation’s effort to re-establish itself as an international leader in the construction of nuclear power plants, NuScale Power’s Chief Financial Officer Jay Surina asserted Monday at the Mid-America Regulatory Conference. “The NuScale power plant takes advantage of simplicity of design, modularity and smaller size to improve the economics of both construction and operation,” Surina stated. “This will help overcome the regulatory and financial hurdles impeding the construction of much larger plants.” Surina explained that NuScale’s modular design comprising up to 12 small reactors means less up-front risk and cost. Utilities can order plants that can be scaled up to meet their demand requirements over time. And, smaller plants can reach many markets the large, conventional plants can’t serve due to small loads and transmission unavailability. He said the NuScale design has moved into the forefront of efforts to license and build a smaller nuclear power plant. This is largely because the design has been confirmed under operating temperature and pressure at a test facility located at Oregon State University. It is the only small scale modular reactor design to be so tested. This should speed the review and approval process required by the Nuclear Regulatory Commission (NRC), he added. A naturally cooled, light water reactor that eliminates pumps, pipes, tanks and other components required by its much larger counterparts is both safer and easier to build, Surina said. Our domestic supply chain can provide all of the required components, reducing cost and providing jobs. NuScale Power, headquartered in Corvallis, Ore., anticipates filing a Design Certification Application with the NRC early in 2012. A plant could be in operation as soon as 2018. ### May 2010NuScale Customer Forum draws 80 to view test facilitiesCORVALLIS, Ore. (May 12, 2010) – Attendees of the 2010 NuScale Power Customer Forum Tuesday heard company officials, constructors and suppliers express confidence that they can build an safe, economical, modular, scalable nuclear reactor for the 21st century. In a conference center in the shadow of the Oregon State University football stadium, the mood was clearly one of confidence that NuScale Power has come up with a winning design that can be licensed and on line this decade. “The integral test facility supports the technology we’ve developed and establishes the safety case for licensing,” asserted NuScale CEO Dr. Paul Lorenzini. “Relying on simplicity of design, factory manufacturing and multiple domestic suppliers, this plant will dramatically reduce financing risk and hit a price point many thought unlikely.” Dr. Jose Reyes, chief technology officer, spoke of the proposed plant’s proven technology, simplicity of design, tested operating and safety features and high plant capacity factor (annual generating level) – all serving to reduce cost and financial risk. Attendees were able to compare the code validation test facilities for the NuScale reactor and the much larger Westinghouse AP600 and AP1000 reactors. Both test facilities are operated by nuclear engineers on the OSU campus. The NuScale version was visibly simpler with far fewer pipes and components. A 45-megawatt NuScale module comprises a reactor pressure vessel holding the nuclear core, a helical coil steam generator and a pressurizer. The pressure vessel is encapsulated in a steel containment vessel only 65 feet long and 14 feet in diameter. Reyes called it “a stainless steel thermos bottle sitting under water and underground.” One NuScale plant accommodates up to twelve 45 megawatt reactor modules that can be taken out of service sequentially for refueling and maintenance, making plant shut downs unnecessary. Each module powers its own turbine, thereby eliminating the “single shaft risk” of larger plants with one reactor powering a single generator. Lorenzini stressed that NuScale’s approach was “not just a better way to generate power, it’s a way to create American jobs.” This point was echoed by constructors and suppliers making presentations. They included Kiewit Power, Curtis Wright, General Dynamics Electric Boat, Precision Custom Components, Oregon Iron Works, Kone Cranes and GSE Power Systems. ### NuScale Power Hires Industry Veteran as Engineering ManagerCORVALLIS, Ore. (May 21, 2010) – NuScale Power Chief Executive Officer Paul Lorenzini today announced that Robert S. Holbrook is the firm’s engineering manager. Holbrook comes to NuScale from the Los Alamos National Laboratory, where he held several senior positions since 2003. “Bob brings to NuScale extensive leadership experience in both corporate and military environments,” Lorenzini said. “His varied accomplishments in program and project management at Los Alamos, Rocky Flats and other positions in the nuclear industry will help us build our team and move our modular, scalable reactor into commercial operation.” Holbrook excels in managing startup and turnaround situations, Lorenzini said. Under his tenure as engineering manager of ComEd’s Quad Cities Station, two nuclear plants shut down due to regulatory issues were brought back on line. At Los Alamos and Rocky Flats he served in key management positions involving training, safety and nuclear system operations. He also managed a program to develop UN fuel and to design space reactors for moon and Mars stations. Holbrook, a graduate of the U.S. Naval Academy, served as a submarine officer from 1966-1991, including a tour as a submarine squadron commander. NuScale Power is developing a modular, scalable nuclear power reactor. A power plant using NuScale’s standard design will produce 540 MWe using 12 of NuScale’s 45 MWe light water modular reactors. The company expects to apply to the Nuclear Regulatory Commission in early 2012 for design certification with a goal of bringing a plant online by 2018. ### NuScale Power Promotes John Groome to Chief EngineerCORVALLIS, Ore. (May 21, 2010) – NuScale Power’s John Groome has become chief engineer of the company as it moves into the licensing and commercialization phases of its modular, scalable light water reactor. Groome is one of the co-designers of the company’s power plant. “John has intimate knowledge of every aspect of the NuScale reactor,” said Jose Reyes, PhD, chief technology officer. “We are pleased that he will continue his work on a new reactor concept that uniquely meets the requirements of today’s commercial power industry.” Groome is one of the principal designers of the NuScale modular reactor, one of a new class of small scale reactors. He was Oregon State University’s lead engineer on the design, construction and operation of the one-third scale, high-pressure test facility that was used to demonstrate the reactor’s feasibility. In the position of senior research assistant in the Nuclear Engineering department at OSU he also designed and fabricated test facilities used to license the Westinghouse AP600 and AP1000 reactors. “Tests of the NuScale reactor concept in our test facility under heat and pressure conditions expected during actual operation have proven the functionality and safety of our system,” Groome said. The test facility at OSU is a one-third scale, electrically heated, high pressure system used to observe the NuScale reactor’s performance under various operating scenarios. Groome says extensive testing has proven the safety and physical integrity of the reactor, which relies on natural circulation of water for cooling. Groome holds a Bachelor of Science degree in nuclear engineering from OSU. He served in the U.S. Navy from 1978-1991 where he was responsible for maintenance and operation of reactor and steam systems. ### April 2010NuScale Power Makes Progress, Briefs Nuclear Regulatory CommissionWASHINGTON, D.C. (April 6, 2010) – NuScale Power remains on track to submit its design application to the Nuclear Regulatory Commission (NRC) in early 2012 with the goal of having a power plant that uses its modular, scalable reactor technology in operation by 2018, CEO Paul Lorenzini told the agency’s commissioners at a briefing today. “We are completely committed to commercializing our technology and have made substantial progress in providing the NRC with the data it will need to license it,” Lorenzini said. Lorenzini stressed NuScale’s commitment to submitting a high quality design certification document (DCD) of its small modular reactor to the NRC for review. Strengths the company brings to the process include:
Lorenzini complimented the NRC and its staff for its efforts to work with NuScale and provide guidance on the tests and data the company needs to provide to meet the agency’s rigorous safety review. He said the company intends to work with the NRC on early identification and resolution of any issues that might affect safety or the licensing timeline. ### March 2010"Next generation nuclear plant will be safer, greener, more efficient," asserts NuScale Power executive at energy conference.LONDON, England -- Driven by technological advances, nuclear power entrepreneurs are responding vigorously to the global need for alternatives to coal- and gas-fired plants to meet future energy demand, said John Surina, chief financial officer of NuScale Power. "We used to speak of economies of scale, but a new generation of nuclear power plants will bring economies of small," said Surina. "Small, modular, scalable reactors will be easier to finance, easier to build and can play a major role in the battle against global climate change." Surina is a panelist at the Bloomberg New Energy Finance Summit, March 17-19 at the InterContinantal London Park Lane Hotel. NuScale Power is marketing a small, modular, scalable nuclear power plant. At 45 megawatts each, reactors are self-contained and can be clustered to produce as much energy as needed up to 540 megawatts. Many nuclear plants in operation today produce well over 1,000 megawatts from a single reactor. Such large reactors require large upfront investments. Surina said interest among utilities today is growing in smaller nuclear plants that can be scaled to size and require less transmission infrastructure. The NuScale plant fits that bill. It also differs from its predecessor light water reactors in that it is a passively cooled, meaning it doesn't rely on an elaborate system of pumps to operate safely. Summit web site: www.newenergyfinancesummit.com ### April 2009NuScale Power Adds Senior Energy Industry Executive as CFOCorvallis, OR; NuScale Power, Inc., has named John "Jay" Surina as its Chief Financial Officer. Surina joins NuScale to lead all aspects of the finance function including financial strategy, accounting, forecasting and corporate finance. Surina joins NuScale from Boart Longyear where he was vice president, financial planning and analysis. He was instrumental in the initial public offering of Boart Longyear shares on the Australian exchange in 2007. In that role he co-managed the mining services company's global finance function and led strategic planning and mergers and acquisition work within the finance function. Surina previously held executive positions in energy industry finance, as well as mergers and acquisitions, with Texas Genco, Centrica North America, and Sithe Energies, including large equity and debt financing capital raising, both at the corporate and project levels. He was co-founder and a managing partner of Cornerstone Energy Advisors, an advisory firm focused on the sale and financing of electric generating stations. Surina is a graduate of the U.S. Naval Academy and received his MBA from the Wharton School at the University of Pennsylvania. A former nuclear trained submarine officer, he continues to serve as a Captain in the Naval Reserve Intelligence Program. ### February 2009Los Alamos Labs' Top Engineer Joins NuScale Power as COOCorvallis, OR; Tom Marcille has joined NuScale Power, Inc. as Chief Operating Officer. Tom will lead NuScale efforts to complete the NuScale design and prepare a Design Certification Application to be submitted to the U.S. Nuclear Regulatory Commission by 2012. Marcille joins NuScale from Los Alamos National Laboratory where he was chief engineer for advanced reactors. There his responsibilities included development management, and execution of terrestrial and special purpose reactor programs. Prior to that he spent 20 years as a contributing, managing and principal engineer in GE's advanced and terrestrial BWR business units. "Tom Marcille brings both management and technical depth as well as significant nuclear experience to the NuScale management team," said Paul Lorenzini, Chief Executive Officer. "We are delighted that he shares our vision and are excited about the energy he will bring as we take the NuScale product to market." Marcille said he sees the "NuScale design as disruptive technology." "NuScale offers an innovative way of deploying nuclear power on a large scale," said Marcille. "The technology combined with the top down design approach for licensing and constructability, teamed with Kiewit Power Constructors - a turnkey, NQA-1 constructor engineer - as partner, makes this a truly unique and compelling opportunity." Marcille is the author or co-author of some 20 papers and contributed articles. He is a graduate of the University of Florida with degrees in physics and nuclear engineering. About NuScale - NuScale Power is developing a modular, scalable nuclear power plant. Each NuScale Power module will produce 40 megawatts of electricity, enough for about 40,000 homes. The size and modular design will allow for the complete manufacturing of NuScale modules at facilities in the United States. NuScale is designing its systems to be scalable with multiple modules operating within a single facility. Owners can add generating capacity as needed to meet growth in customer demand. NuScale plants are based on light water reactor technology and operate using natural circulation. The design incorporates passive systems that significantly increase safety. The NuScale design was initially developed at Oregon State University and is being tested at an electrically heated prototype on campus. ### January 2009NuScale Notes Progress Toward Commercialization of Modular, Scalable Nuclear Electric Power PlantJanuary 12, 2009; Corvallis, OR - NuScale Power made major progress in 2008 toward commercialization and Federal certification of its modular, scalable 40 MWe nuclear electric power plant, noted Paul Lorenzini, the company's Chief Executive Officer. "The advances made in 2008 are testament to the team working on the project at NuScale and around the country, as well as the elegance and simplicity of the design," said Lorenzini. NuScale is designing its plants so that all major components are modular with the more complex components manufactured and assembled away from the plant construction site. Modular components include the turbine-generator set and the nuclear steam supply system. "In 2008, NuScale verified that it can manufacture all of the modular components at existing facilities in the United States," said Lorenzini. "Our goal in 2009 is to secure agreements with all of the manufacturers that will fabricate and assemble the modular components for NuScale plants." NuScale initiated the pre-application portion of the Design Certification process with the US Nuclear Regulatory Commission in February 2008. The pre-application process is structured to ensure that new designs are as complete as possible when submitted to the NRC for certification. NuScale had its first meeting with the NRC in July and its second meeting in November. A third meeting is planned for March 2009. NuScale expects to submit its Design Certification application in 2012. "We are pleased with the interactions NuScale is having with NRC staff and the resources the agency is committing to the process," said Lorenzini. "The fact that NuScale is based on light water technology means that the NRC can review the design using its existing knowledge base and technical codes," he said. "In addition, NuScale has a one-third scale, electrically-heated prototype at Oregon State University. We will use the prototype to perform many of the tests and simulations that the NRC will require for Design Certification." Kiewit Constructors provided substantial design and engineering support to NuScale as part of a Memorandum of Understanding signed in April 2008. "Through our combined efforts we have made significant progress on overall plant design including the major structures and the balance-of-plant that takes steam from the nuclear system and uses it to produce electricity," said Lorenzini. In addition, Kiewit and NuScale are preparing a comprehensive cost estimate for NuScale power plants. "Our goal is to provide customers with the most accurate estimate possible for the cost to build and operate a NuScale power plant," Lorenzini said. "Any estimate will have numerous variables. But we believe we can draw a clearer picture of costs due to the simplicity of the NuScale design and the modular manufacturing process," he said. "Once the integrity and safety of the design is confirmed by the NRC through Design Certification, we believe that NuScale's ability to manufacture the major components in a factory setting in the United States will enhance quality control and make costs more predictable," Lorenzini said. "The ability to ensure the highest levels of quality while effectively managing cost is critical to meeting future power needs of the electric utility industry." Design progress In 2008, NuScale assembled a team of the nuclear industry's leading scientists, engineers and consultants to support the advancement of key elements of its design. "NuScale is attracting the top talent and internationally-recognized experts in nuclear power to help it with design and analysis," said Dr. Jose Reyes, NuScale Chief Technical Officer. "With their support we are making rapid progress in achieving our design and safety analysis milestones." The safety inherent in the passive cooling used in the NuScale's design was confirmed by a panel of leading scientists in July 2008. It determined that the NuScale design eliminates the risk of both large and small loss of coolant accidents. "The panel's preliminary review found that the use of natural circulation and passive cooling during both normal operations and shutdown modes should have a significant affect on improving safety," said Reyes. Milestones ahead for NuScale in 2009 include:
### June 2008Kiewit Contractors Co. joins NuScale Power to
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