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TRANSCRIPT
PROSPECTUS
A NUCLEAR ENERGY OPPORTUNITY FOR THE UK
SCALABLE
COST EFFECTIVE
LOW CARBON
FLEXIBLE
COMPACT
NuScale Power is one of the world’s most advanced developers of small, light water, modular nuclear reactor (SMR) technology, capable of delivering secure, low carbon, cost effective power in a more flexible way.
Alongside development in the United States, NuScale Power is actively building a presence in the UK market, which could play a leading role in an emerging global SMR market estimated to be worth £400 billion by 2035.
The UK is one of the most attractive places globally to do nuclear business. NuScale Power has a vision of seeing its SMR generating electricity in the UK and providing opportunities in the UK.
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NuScale Power Module image on front cover non-proprietary
The NuScale Power Module
The NuScale Power Module brings scalability, flexibility and factory fabrication to nuclear energy – attributes not previously associated with nuclear power stations.
Based on tried and tested light water reactor technology, the NuScale Power Module is a small, integrated reactor surrounded by a high pressure containment vessel. Each 50 MWe module is fabricated, transported to site by road, rail or barge and installed in quantities of up to 12 at a single generating facility, with a total output of 600 MWe.
The design was conceived in the early 2000s by Dr. Jose Reyes, NuScale Power co-founder and Chief Technology Officer. Dr. Reyes is an adviser to the UN International Atomic Energy Agency on passive safety systems.
The size of the NuScale Power Module makes it suitable for sites not previously considered for new nuclear power and its flexibility enables integration with intermittent renewables such as wind and solar.
NuScale Power Module
LOW CARBON • SCALABLE • FLEXIBLE
NuScale Power in the UK
NuScale Power’s vision is for modules to be generating electricity in the UK and providing opportunities in the UK.
- The UK Government’s SMR feasibility study concluded in 2014 that the NuScale Power technology is credible for deployment within ten years and should be investigated further for the UK market. NuScale Power is actively participating in the Government’s continuing SMR assessment.
- NuScale Power’s primary investor is Fluor Corporation, which has serviced clients around the world from the UK for more than 55 years and employs more than 2,000 engineers in Farnborough, Hampshire.
- Dorset-based Ultra Electronics signed a strategic partnership with NuScale in 2015. The partnership brings Ultra’s expertise in reactor protection system design, nucleonics instrumentation, nuclear qualified sensors, and specialty cabling to the NuScale design team.
- NuScale Power is building partnerships with the nuclear industry, universities and Government agencies across the UK.
- In 2014, NuScale Power signed an agreement with the Nuclear Advanced Manufacturing Research Centre in Sheffield to collaborate on the development of the NuScale Power technology.
SMR control-room simulator – a U.S. industry first
“Ultra Electronics is pleased to be partnering with NuScale to develop their innovative SMR technology in the UK. This technology has the potential to deliver secure, cost effective and safe energy and is already generating highly skilled UK-based jobs.”
Rakesh Sharma, CEO, Ultra Electronics
COST EFFECTIVE • COMPACT • SECURE
NuScale Power in the United States
NuScale Power’s ambition in the UK builds on progress made over the last decade at its test facility near Portland, Oregon.
- A testing programme on the NuScale Power Module started in 2003 in a fully instrumented, one-third scale, electrically heated test facility in Oregon.
- NuScale Power has since commissioned a full-scale multi-module control-room simulator. Both this and the NuScale Power testing facility were first-of-a-kind for the U.S. SMR industry.
- The U.S. Department of Energy has awarded cost-sharing funding, worth $217 million over five years, to accelerate the development of the NuScale Power Module.
- NuScale Power is on track to submit its design certification application to the U.S. Nuclear Regulatory Commission by 2016, with a view to receiving regulatory approval in the early 2020s.
- It is the only U.S. SMR developer to have a customer, with a plan to deploy the NuScale Power Module in Idaho by 2023.
- Rolls-Royce is supporting NuScale Power’s design certification application in the U.S. and will help bring the technology to commercialisation.
- AREVA signed a contract with NuScale Power in 2015 to manufacture fuel assemblies for NuScale Power Modules, supplying initial reactor cores as well as subsequent reloads.
SMR control-room simulator – a U.S. industry first
“Rolls-Royce is pleased to be playing a part in bringing NuScale’s technology to market. The combination of skills and experience in both organisations is world class and a lot of hard work is being put in to realising our shared goal.”
David Orr, Executive Vice President, Business Development – Nuclear, Rolls-Royce
LOW CARBON • SCALABLE • FLEXIBLE
Working across the UK
Working with National Nuclear Laboratory NNL has been working with NuScale Power to assist in fuel design development since 2014.
Backed by Fluor Corporation Fluor became the majority investor in NuScale Power in 2011. The company employs 2,000 engineers at its base in Farnborough, Hampshire.
NuScale Power UK office NuScale Power opened its UK office in 2015.
Partnership with the Nuclear AMRC NuScale Power signed an agreement in 2014 to work with the Nuclear Advanced Manufacturing Research Centre on the development of the NuScale Power technology.
Partnership with Ultra Electronics NuScale Power has established a strategic partnership with Ultra Electronics to integrate their design expertise in developing reactor protection and other safety-related I&C systems for the NuScale SMR. Within the UK, Ultra has a facility based in Dorset.
Partnership with the University of Sheffield NuScale Power has established an internship programme in partnership with the University of Sheffield and Oregon State University.
LOW CARBON • SCALABLE • FLEXIBLECOST EFFECTIVE • COMPACT • SECURE
Meeting the UK’s power needs
The NuScale Power Module has the potential to meet all three key objectives of the UK’s energy policy:
Security of supply
The NuScale Power technology could make a real contribution to reducing the UK’s dependence on imported fossil fuels and delivering home grown energy. At present, the UK’s total generating capacity from nuclear is around 10 GWe. This could reach 25 GWe by 2025 and as much as 75 GWe by 2050.
Carbon emission reduction
The NuScale Power technology could provide a valuable, low carbon addition to the energy mix, integrating with intermittent renewables, such as wind and solar, and helping the UK meet its legally-binding target of cutting carbon emissions by 50% by 2025 and 80% by 2050.
Cost effective
The levelised cost of generating electricity from a 12-module NuScale Power plant is estimated to be competitive with other forms of low carbon electricity generation being pursued in the UK, including large-scale nuclear and wind power.
UK SMR feasibility assessment
Since 2013, NuScale Power has been actively involved in the UK Government’s SMR feasibility assessment, to test the viability of SMR development and deployment in the UK and what role UK industry and Government may play in the process.
“[NuScale Power] technology is judged as credible with a well developed conceptual design”Small Modular Reactors (SMR) Feasibility Study, NNL (December 2014)
COST EFFECTIVE • COMPACT • SECURE
Cross-section of the NuScale Power plant
UK growth opportunities
The UK economy would enjoy significant benefit from developing and deploying the NuScale Power Module:
Global market
The UK could become an early, leading player in a global SMR market estimated to be worth up to £400 billion by 2035.
Supply chain
Deployment of NuScale Power technology in the UK would mean significant employment opportunities for the UK nuclear supply chain, supporting jobs and wealth creation across the country.
Intellectual property rights
Partnership at this stage in the technology’s development would enable the UK to share in the rewards of valuable intellectual property rights.
Nuclear AMRC: Partnering with the UK supply chain
In 2014, NuScale Power signed an agreement with the Nuclear AMRC to work together on the development of the NuScale Power technology.
“Our discussions with NuScale Power are part of our continuing support to the diverse technology base for civil nuclear power in the UK and we look forward to the potential development of SMR technology for the UK.”
Mike Tynan, Chief Executive, Nuclear AMRC
LOW CARBON • SCALABLE • FLEXIBLE
NuScale Power plant design
Why choose the NuScale Power Module?
The NuScale Power Module has a number of characteristics differentiating it from current, large-scale nuclear power stations, making it an attractive option for utilities and developers.
Fabricated
The NuScale Power Module can be entirely fabricated in a manufacturing facility and transported to its destination by rail, road or barge.
Compact
NuScale Power’s smaller facility and environmental footprint increases the number of site feasibility options for the UK, including sites previously discounted due to size and infrastructure constraints.
Scalable
Up to a maximum of 12 modules can be added to a site incrementally, in response to growing demand. This reduces capital costs, one of the most significant hurdles facing new nuclear developers.
Flexible
In contrast to current, large-scale nuclear power stations, the modular nature and load-following capability of the NuScale Power plant allows for flexible output, which can be integrated with intermittent renewables, such as wind and solar.
Inherently safe
The NuScale Power Module has a triple lock safety feature not seen in other reactor designs. In an unlikely loss of power event, it can safely shut down and self-cool for an indefinite period with no operator action, no electrical power and no additional water.
COST EFFECTIVE • COMPACT • SECURE
UAMPS: NuScale Power’s first customerIn 2013, NuScale Power announced the launch of the Western Initiative for Nuclear (‘Project WIN’), a multi-state collaboration that aims to deploy the first NuScale Power Modules.
Utah Association of Municipal Power Systems (UAMPS), will be the owner of the first NuScale Power plant, which will be located in Idaho and operated by Energy Northwest.
“In accordance with state and national efforts to clean up our air and reduce carbon emissions, it is important that we investigate clean, safe, carbon-free SMR technology as a potential baseload resource.”
Doug Hunter, Chief Executive Officer, UAMPS
2003 - Testing programme started on the NuScale Power Module in a fully-instrumented, one-third scale, electrically-heated test facility in Corvallis, Oregon.
2011 - Fluor Corporation became the majority investor in NuScale Power.
2012 - NuScale Power commissioned a full-scale multi-module control-room simulator. Both the NuScale Power testing facility and the control-room simulator were first-of-a-kind for the U.S. SMR industry.
2013 - Rolls-Royce announced that it will support NuScale Power with its design certification application submission and will help bring the NuScale Power Module to commercialisation.
2013 - The U.S. Department of Energy formally announced an award of $217 million in cost-sharing funding to be received over five years, to accelerate the development of the NuScale Power Module.
2013 - NuScale Power announced the launch of ‘Project WIN’, which is contemplating a number of NuScale Power plant deployments across the western states of America.
2013 - The UK Government commenced work on its SMR feasibility assessment to test the viability of potential SMR development and deployment in the UK. NuScale Power is one of the technologies taking part in this assessment.
2014 - NuScale Power signed an agreement with the UK’s Nuclear Advanced Manufacturing Research Centre in Sheffield to collaborate on the development of the NuScale Power technology.
2015 - NuScale Power completed the fabrication and assembly of a full-scale mock-up of the upper section of the NuScale Power Module. This will provide engineers with insight into the inspection and maintenance activities essential to the operation of a NuScale Power plant.
2016 - NuScale Power is on track to submit its design certification application to the U.S. Nuclear Regulatory Commission by this date, with a view to receiving regulatory approval in the early 2020s.
2023 - The very first NuScale Power Module is expected to be generating by this date, operated for UAMPS by Energy Northwest. A facility of 12 modules will be operating by the following year.
The story so far
Portland Office, Oregon
6650 SW Redwood Lane
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97224
Tel: +1 971 371 1592
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20852
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Contact
London Office, UK
1st Floor, Portland House
Bressenden Place
London
SW1E 5BH
Tel: +44 (0)20 7932 1700
Email: [email protected]
Web: www.nuscalepower.com/about-
us/nuscale-power-in-uk
Twitter: @NuScale_UK