Westinghouse And Ameren Missouri To Co-host Missouri Economic Summit

COLUMBIA, Mo., July 20, 2012 /PRNewswire/ -- Westinghouse Electric Company and Ameren Missouri together will hold an economic summit for the state of Missouri on the campus of the University of Missouri on Monday, July 23, 2012.

The economic summit, which will be held at the Christopher S. Bond Life Sciences Center – Monsanto Auditorium, will highlight the economic development opportunities that are possible by developing, manufacturing, constructing and commercializing the next generation Westinghouse Small Modular Reactor (SMR) at Ameren Missouri's Callaway Energy Center in Callaway County, Missouri.

Ameren Missouri is currently supporting Westinghouse in its application to secure Department of Energy (DOE) SMR investment funds of up to $452 million that will be awarded to promising SMR projects.  A final decision on awarding the investment funds by the DOE is expected in late summer 2012.  

"Securing the DOE investment funds positions Missouri for a transformational economic development opportunity, which includes becoming the hub for the engineering design, development, manufacturing and construction of American-made SMR technology in the United States and around the world," said Warner Baxter, president and CEO of Ameren Missouri. "By co-hosting this summit, we reiterate our commitment to work diligently with all our key stakeholders, including Governor Nixon, to capitalize on this unique opportunity that will help secure our state's and country's energy future and create sustainable, clean energy jobs right here at home."

Some of the speakers for the event include Missouri Governor Jay Nixon; members of the Missouri Senate and House of Representatives; University of Missouri President Tim Wolfe; University of Missouri Chancellor Brady Deaton; Joseph Hezir of EOP Group, Inc.; James Moss of the United Association of Plumbers and Pipefitters; and, Alex Flint of the Nuclear Energy Institute.  These and other speakers, including representatives from Westinghouse and Ameren Missouri, will share a path forward for this economic development opportunity.

Westinghouse Chief Technology Officer and Senior Vice President of Research and Development Dr. Kate Jackson said of the collaboration, "Westinghouse and Ameren Missouri have an unmatched commitment to achieving the set objectives of the DOE's funding opportunity.  There is no stronger team with more robust corporate histories, financial foundations, and operational excellence.  Our companies represent energy industry leaders with the strongest backing from every electric energy provider in the state, other utility participation group members, the state of Missouri, including Governor Nixon, labor unions, elected and university officials, and a host of economic development, business and industry leaders who are strongly supporting our team with the best capabilities."

"This economic summit will demonstrate how well positioned the State of Missouri is to capitalize on this transformational economic development opportunity," said Mr. Baxter. "In addition, the summit will highlight the potential job creation from the commercialization of American-made SMRs, including a recent study that estimates the 10-year economic impact associated with the design, licensing, manufacturing and installation of the first Westinghouse SMR to be approximately $3 billion, creating and or sustaining approximately 9,500 direct and 9,100 indirect U.S. jobs."

The Westinghouse SMR is a 225 MWe integral pressurized water reactor (PWR), with all primary components located inside of the reactor vessel.  It utilizes passive safety systems and proven components, as well as modular construction techniques – all realized and already licensed in the nuclear industry-leading Westinghouse AP1000^®  nuclear power plant design.  The Westinghouse SMR is designed to achieve the highest level of safety using a reduced number of required components.  Westinghouse believes that this proven approach will provide licensing, construction and operational certainty that no other SMR supplier can match with competitive economics.  For more information about the Westinghouse SMR, visit www.westinghousenuclear.com/smr/index.htm.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world.  Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa.  Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants. 

Ameren Missouri has been providing electric and gas service for more than a century, and our electric rates are among the lowest in the nation.  We serve 1.2 million electric and 127,000 natural gas customers in central and eastern Missouri.  Our mission is to meet their energy needs in a safe, reliable, efficient and environmentally responsible manner.  Our service area covers 63 counties and 500 towns, including the greater St. Louis area.  For more information, visit AmerenMissouri.com.

SOURCE Westinghouse Electric Company