2024-03-29, Fri.

Top Stories       Business       Culture & Life       Science & Technology       World

Lecture

Notification

 

NEWS > Science & Technology


NuScale Power Secures $40 Million Investment, Support for SMR Deployment from JGC Holdings Corporation

Signaling a new wave of Japanese interest in NuScale Power, JGC HD will support future deployments of NuScale SMRs
Date: 2021-04-06

PORTLAND, ORE-- April 06, 2021 -- NuScale Power today announced that it has finalized an investment and strategic partnership agreement with JGC Holdings Corporation (JGC HD), a holding company of the world's leading EPC contractor group companies headquartered in Japan. As part of a commercial relationship with Fluor Corporation - NuScale’s majority investor and EPC partner in the United States - JGC HD will provide a $40 million cash investment in NuScale Power and partner with Fluor on the deployment of NuScale Power Plants.

Today’s announcement signals the first commercial relationship and investment in NuScale Power from a Japanese-based company and is indicative of growing Japanese and global interest in NuScale’s groundbreaking small modular reactor (SMR) technology.

“JGC HD’s investment and partnership with NuScale Power is a welcome endorsement of our SMR technology and its international viability,” said NuScale Chairman and Chief Executive Officer John Hopkins. “NuScale looks forward to demonstrating how our cleaner and safer advanced nuclear technology can bring numerous benefits - economic and environmental - to countries around the world as they seek innovative solutions to complete a clean energy transition.”

“The JGC Group embraces the goal of ‘Carbon Neutral in 2050’ as committed by the Japanese government last year,” said Tadashi Ishizuka, Representative Director, President and COO of JGC Holdings Corporation. “Our investment in NuScale technology, with its enhanced safety features, will enable JGC to expand our EPC business and deliver a zero carbon resource to the growing demand of global energy market.”

NuScale’s SMR made history in August 2020 as the first and only design to ever receive approval from the U.S. Nuclear Regulatory Commission and maintains strong momentum towards the commercialization of its SMR technology by the end of this decade. NuScale and Fluor are currently working for Utah Associated Municipal Power Systems (UAMPS) to bring the world’s first clean energy, carbon-free SMR project to commercialization.

NuScale Power continues to field growing domestic and international customer interest from those who see the NuScale power plant as a long-term solution for providing reliable, safe, affordable, and operationally flexible carbon-free energy for diverse applications. NuScale has signed and announced agreements with entities in the U.S. and internationally.



 to the Top List of News

Notice of Commencement of Operation of Dexerials Photonics Solutions Corporation as Integrated Company Leading Growth in the Photonics Domain
Alphawave Semi and InnoLight Collaborate to Demonstrate Low Latency Linear Pluggable Optics with PCIe 6.0 Subsystem Solution for High-Performance AI
Medisca Opens MAZ Lab in Arizona: An Innovation and Customer Resource Center
Quectel and The Things Industries Announce Partnership to Boost Module Service Management Through LoRaWAN Integration
Efinix Rolls Out Line of FPGAs to Accelerate and Adapt Automotive Designs and Applications
StarFive¡¯s RISC-V Based JH-7110 Intelligent Vision Processing Platform Adopted VeriSilicon¡¯s Display Processor IP
Uniphore Unveils Enhanced Interaction Analytics Solution Powered by Generative AI

 

Laserfiche Announces 2024 Run Smarter Award Winners
LambdaTest and Inflectra Partner to Offer Enhanced Application Lifecyc...
The LYCRA Company joins Performance Days seminar on textile recycling
New Oracle Database Survey Shows Customers Satisfied with Current Rele...
Toshiba Adds New Position Estimation Control Technology to Its Motor C...
Cielo Debuts First Generative AI for Talent Acquisition: CLO.ai
Ventiva Announces Partnership with Clarion for Mass Production of ICE ...
FPT Software Expands Presence in South Korea With Daegu Office Launch
Quectel IoT Modules Significantly More Secure Than Industry Average Ac...
Kymeta Begins Fulfilling Customer Orders of its First Multi-Orbit, On-...

 

 

60, Gamasanro 27gil, Guro-gu, Seoul, Korea, e-mail: news@newsji.com

Copyright, NEWSJI NETWORK.