PORTLAND, ORE.-- April 27, 2022 -- NuScale Power LLC announced today it has signed a Memorandum of Understanding (MOU) with its partners, Samsung C&T Corporation (“Samsung”), Doosan Enerbility Co., Ltd. (“Doosan”), and GS Energy Corporation (“GS Energy”) to explore the deployment of NuScale’s VOYGR™ power plants. This announcement is a critical next step in bringing NuScale’s clean energy solution to Asia.

This MOU builds upon a series of investments made by the three companies (Doosan, GS Energy, and Samsung) starting in 2019, and then again in June and July of 2021. As part of the MOU, the industry leaders will explore jointly studying, planning, and developing deployment of VOYGR power plants in specific locations where mutually agreed.

“Today marks a significant milestone as we work to provide future customers with zero-carbon, reliable, and affordable energy from NuScale’s SMRs,” said John Hopkins, NuScale President and Chief Executive Officer. “With the help of our valued investors, NuScale will launch the global community into a clean energy future within the next decade.”

Along with financial support, Doosan, Samsung and GS Energy will lend their respective expertise to NuScale Power in areas such as component manufacturing, prior nuclear construction experience, and power plant operation. Doosan is a world-renowned nuclear pressure vessel manufacturer, Samsung is a trusted nuclear power plant contractor, and GS Energy brings more than 20 years of expertise as a power plant operator.

“I believe that the world today is in dire need of SMR deployment to respond to the global climate crisis and to reach net-zero,” said Yongsoo Huh, GS Energy President and Chief Executive Officer. “NuScale is the leader of SMR with unparalleled level of maturity in technology and design, and the Korean partners also bring their own excellence in the fields of manufacturing, construction, and operations of power plants.”

“This MOU will serve as a cornerstone of expanding SMR business in cooperation between NuScale and Korean strategic investors, and I expect the cooperation between Korea and the United States in the nuclear business will be strengthened through this MOU,” said Kiyong Na, Chief Executive Officer of Doosan Enerbility Nuclear Business Group. “I believe that such cooperation in nuclear business will promote the global SMR industry and contribute to supplying clean energy stably.”

“With this MOU, it is expected that there will be great progress in SMR business development through stronger cooperation between NuScale and Korean strategic investors”, said Byungsoo Lee, Vice President of Samsung C&T. “I think SMRs will play an important role to respond to the demand of carbon-free and climate change.”