The Joplin Globe
Summary
NuScale Power today announced that it has finalized an investment agreement with GS Energy North America Investments (GS Energy), the U.S. entity of the South Korean leading energy services provider. This announcement continues the strong momentum of investments NuScale Power has secured in recent months and is a significant step for commercializing NuScale’s small modular reactor (SMR) technology.
GS Energy brings years of expertise as an energy solution provider in Korea and internationally with a diversified portfolio that includes: refining of transportation fuels and other petrochemical products; LNG procurement and supply; electric power production and district heat; and oil and gas exploration and production. GS Energy seeks to secure a diversified and cleaner energy portfolio and is continuously exploring various forms of renewable energy and new technologies, including nuclear power.
As part of a long-term strategic relationship established under the agreement, GS Energy will provide a cash investment in NuScale Power and support deployment of NuScale plants. The two parties will also look to develop regional NuScale power plant service delivery opportunities.
“NuScale is delighted to welcome GS Energy’s investment and commitment to commercializing America’s first small modular reactor,” said John Hopkins, NuScale Power Chairman and Chief Executive Officer. “GS Energy’s renowned expertise in energy project development complements our effort to demonstrate how cleaner and safer advanced nuclear technology can bring numerous economic and environmental benefits, especially as the global community transitions to reliable, clean energy.”
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