NuHub Launches Partnership with NuScale to Revolutionize the Nuclear Power Industry

COLUMBIA, S.C., April 11, 2012 /PRNewswire/ -- NuHub announced today that it has partnered with NuScale Power, LLC, which is  developing a modular, scalable commercial nuclear power technology, to recruit the nation's first small modular nuclear reactor (SMR) models to South Carolina. NuScale will compete for one of two federal grants from the U.S. Department of Energy's (DOE) recently announced federal award totaling up to $452 million to support engineering, design certification, and licensing for up to two first-of-its kind SMR designs. SMRs represent a new class of nuclear reactors, offering improvements like reduced capital cost and scalability. NuScale intends to locate their SMRs at Savannah River Site if selected.

NuHub was launched in October 2010 by EngenuitySC as a consortium of public, private, higher education and business development interests sharing a common goal of maximizing the economic and job creation impact of the nuclear renaissance on the Midstate of South Carolina.

"One of the key initiatives of NuHub is to support the manufacturing and deployment of SMRs domestically to meet demand for clean energy nationally and abroad," said Charles T. (Ted) Speth, chair of NuHub's SMR Committee and Managing Shareholder at Ogletree Deakins' Columbia, S.C. office. "NuHub was impressed with both NuScale's dedication to investing in the growth and prosperity of the Midstate of South Carolina. We are excited to partner with NuScale, along with Savannah River Site, in the response to the DOE funding opportunity announcement."

"We at NuScale are excited and enthusiastic at the tremendous opportunity that lies before NuHub and NuScale to develop a powerful economic growth engine with world-class excellence and worldwide reach," said Michael McGough, Vice President of Business Development. "We believe our programs will generate superior economic returns to the state of South Carolina, particularly in the Midstate region. We're excited for the opportunity to have South Carolinians develop and deliver the future of the nuclear industry to the world."

Applications for DOE's program are due May 21, and DOE expects to announce awardees this summer. NuHub expects to partner with a second vendor in the coming weeks who will also apply for the award.

NuHub will host Nuclear Energy Insider's SMR Conference on April 24 and 25, 2012, at the Embassy Suites-Greystone for the second year in a row. The conference, which hosts approximately 300 industry experts and leaders from across the country, is returning to the area due, in large part, to the support of NuHub and its network of nuclear supporters. NuHub will host a breakfast on Tuesday, April 24, for conference attendees, community members and media to learn more about NuHub and SMRs. Please visit for more information about the conference: http://www.nuclearenergyinsider.com/smr/.

"The 2nd Annual Nuclear Energy Insider SMR Conference presents a major opportunity for the City of Columbia and the Midstate region to make an impression on the global nuclear industry and show companies why they would have a competitive advantage if they located or expanded their operations in the region," said Steve Benjamin, Mayor of the City of Columbia. "We are looking forward to welcoming agencies and companies from around the world to our great city."

About NuHub

NuHub, an initiative of EngenuitySC, is a collaborative group of public, private, higher education and workforce development stakeholders working to maximize economic and job creation opportunities for the nuclear industry in the Midstate region of South Carolina, and to establish the Midstate as a hub and global leader for nuclear energy innovation. Please visit www.NuHubSC.com for more information.

About EngenuitySC

Headquartered in Columbia, EngenuitySC is public/private partnership formed to develop and grow the South Carolina Midlands' knowledge-based economy by fostering an environment where entrepreneurship, innovation, and the creation of knowledge are fundamental elements of the region's culture, identity, and economic development strategy. Through collaboration with business, government, and higher education, EngenuitySC leads initiatives that support research development, promote commercialization, and leverage the region's assets. Please visit www.EngenuitySC.com for more information.

About NuScale Power, LLC

NuScale Power LLC, is developing an inherently safe, modular, scalable commercial nuclear power technology.  NuScale's design offers the benefits of carbon-free nuclear power but takes away the issues presented by the cost of installing large capacity.  A nuclear power plant using NuScale's technology is comprised of individual NSSS modules; each produces 45 megawatts of electricity with its own combined containment vessel and reactor system, and its own designated turbine-generator set.  A power plant can include as many as 12 NuScale integral PWR modules to produce as much as 540 megawatts.  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. For more information visit:  www.nuscalepower.com.

Contact:
Emily Brady
[email protected]
803.233.2452

SOURCE NuHub