NuScale’s SMR Wins ‘Emerging Technology of the Year’ at S&P Global Platts Global Energy Awards
- Dec 13, 2019 7:06 am GMTDec 13, 2019 2:05 pm GMT
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NuScale Power’s SMR technology selected out of 12 finalists in Emerging Technology of the Year category
PORTLAND, Ore.--(BUSINESS WIRE)-- S&P Global Platts Global Energy Awards announced that NuScale Power was selected as the winner of the Emerging Technology of the Year award. S&P Global Platts is the leading global provider of energy and commodities information and spot market benchmarks, and selected NuScale as this year’s Emerging Technology winner based on its unrivaled status in this category for the research and development, ingenuity, and commercialization potential of its revolutionary small modular reactor (SMR) technology. NuScale was selected out of 12 finalists, which included a broad cross section of energy companies who are among those pioneering cutting-edge technologies to address the world’s greatest energy challenges.
“NuScale is honored to accept this award, and we appreciate S&P Global Platts’ recognition of our groundbreaking technology,” said John Hopkins, Chairman and Chief Executive Officer of NuScale. “We welcome the ongoing support that NuScale’s advanced SMR technology continues to receive, and we look forward to continued collaboration with all facets of the energy industry as we reach commercialization.”
As NuScale completes the final phases of the U.S. Nuclear Regulatory Commission’s design certification application (DCA) review process for its 12-module SMR power plant, this award validates the incredible potential of NuScale’s safe, reliable, cost-effective, and 100% carbon-free SMR technology to meet the needs of an evolving global energy landscape.
Established in 1999 and described as “the Oscars of the energy industry,” the S&P Global Platts Global Energy Awards highlight corporate and individual innovation, leadership, and superior performance in 21 categories spanning the entire energy complex.
NuScale’s technology is the world’s first and only SMR to undergo design certification review by the U.S. Nuclear Regulatory Commission (NRC). In July 2019, the NRC completed Phases 2 and 3 of its review, and in December 2019 completed Phase 4. The entire review is now in Phases 5 and 6, with the NRC on track to complete final review of NuScale’s design by September 2020.
About NuScale Power
NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 60 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design – a power plant can house up to 12 individual power modules – offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.
NuScale is headquartered in Portland, Oregon and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; Arlington, Va.; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, and Instagram: nuscale_power. NuScale has a new logo, brand, and website. Watch the short video.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
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Diane Hughes, NuScale Vice President, Marketing & Communications
Source: NuScale Power