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CORRECTING and REPLACING Fluor’s NuScale Power Achieves U.S. Nuclear Regulatory Commission Design Certification

·3-min read

First Ever Approval for Small Modular Nuclear Reactor Technology & Now Ready for Commercialization

In the contact information of release dated Aug. 31, 2020, Brian Mershon's phone number should read: 864.281.6484 (instead of 864.282.6484).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200831005719/en/

Artist’s rendering of NuScale Power’s small modular nuclear reactor plant. (Photo: NuScale)

The updated release reads:

FLUOR’S NUSCALE POWER ACHIEVES U.S. NUCLEAR REGULATORY COMMISSION DESIGN CERTIFICATION

First Ever Approval for Small Modular Nuclear Reactor Technology & Now Ready for Commercialization

Fluor Corporation (NYSE: FLR) announced today that NuScale Power, in which Fluor is the majority investor, received final design certification by the U.S. Nuclear Regulatory Commission (NRC), which is expected to advance the commercialization of NuScale’s small modular nuclear reactor (SMR) technology.

"The energy future of the U.S. and the world is increasingly more dependent on sustainable and renewable, carbon-free technologies," said Carlos M. Hernandez, chief executive officer, Fluor. "Fluor has been a leader in serving the nuclear industry for more than 70 years including the design and construction support for more than 25 units, plus nearly 100 million hours of operations and maintenance work."

The NuScale small modular reactor fits well with Fluor’s world-class modular fabrication capabilities for new facilities of all types.

"This final approval from the NRC clearly establishes NuScale as the preeminent leader in the small modular reactor technology market and positions the company to respond to customers desiring this unique, flexible, safe, clean energy solution," Hernandez said. "Fluor is extremely proud of NuScale’s achievement, and we would like to acknowledge the continuous support of the U.S. Department of Energy, which has a long history of supporting the nuclear energy market, thereby helping to ensure long-term clean energy solutions in the U.S. and globally."

In addition to previously announced strategic partners and investors in NuScale, both Fluor and NuScale continue to engage with potential customers, capital investors, manufacturers and other supply chain partners for new SMR development efforts.

Fluor has the exclusive rights to perform engineering, procurement and construction for new NuScale projects. Notably, Fluor and NuScale are working directly with Utah Associated Municipal Power Systems (UAMPS) in the development of a 720 megawatt plant. In addition, NuScale has preliminary agreements with entities in the U.S., Canada, Romania, the Czech Republic and Jordan.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents. Fluor’s 47,000 employees build a better world by designing, constructing and maintaining safe, well-executed, capital-efficient projects. Fluor is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200831005719/en/

Contacts

Brian Mershon
Global Media Relations
864.281.6484

Jason Landkamer
Investor Relations
469.398.7222