Press release
Completed the acquisition of shares in the USA corporation Japan NuScale Innovation, LLC.
November 25, 2024.
Chubu Electric Power Co., Inc.
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We have decided to invest in NuScale Power, a small modular reactor (SMR) development company based in the United States, and have signed a partial share transfer agreement with the Japan International Cooperation Bank to hold some of the issued shares through Japan NuScale Innovation, LLC (JNI) (as announced on September 7, 2023).
Subsequently, after obtaining regulatory approvals, we have completed the acquisition of shares in JNI today.
NuScale is a startup company established in Portland, Oregon, USA, in 2007. The SMR under development by the company has received design certification from the Nuclear Regulatory Commission (NRC) in the United States and is the most advanced among SMRs in the country.
We believe it is important to secure various options for the sustainable utilization of nuclear power generation, which is essential for achieving a decarbonized society in the future, while aiming to secure and expand our revenue base through NuScale's future business expansion.
We will aim to enhance our corporate value by promoting the social implementation of such next-generation technologies.
Small Modular Reactor
By reducing the output of each reactor, a small modular reactor facilitates cooling and enhances safety. Manufacturing and assembly of units (modules) at the factory in advance, transport by truck, and installation at the construction site allow for shorter construction periods, reduced construction costs, and risk mitigation.
(Note 2) Special purpose company established to invest in NuScale.
(Note 3) Nuclear Regulatory Commission
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