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NuScale Power Joins the United Nations 24/7 Carbon-Free Energy Compact

15 Nov 2022

NuScale Power Corporation (NYSE: SMR) has joined the United Nations (UN) 24/7 Carbon-free Energy Compact (CEC) to advance the UN's goal of accelerating the decarbonization of the world's electricity systems to mitigate climate change and ensure access to clean and affordable electricity. The announcement was made as NuScale's leaders participate at the 2022 United Nations Climate Change Conference in Sharm El-Sheikh, Egypt.

By joining the UN 24/7 Carbon-free Energy Compact, NuScale becomes a member of a global community of organizations collaborating to develop solutions that enable access to 24/7 carbon-free energy. A key principle of the CEC is the advancement of carbon-free energy technology such as NuScale's VOYGRâ„¢ small modular reactor (SMR) power plants which can provide a source of reliable, high-capacity, and carbon-free energy while supporting a higher penetration of intermittent renewable generation sources. NuScale will also advocate for policies that support and accelerate the decarbonization movement and will encourage supply chain partners and investors to also join the UN 24/7 CEC.

"It cannot be emphasized enough - decarbonization is a global movement that requires cross-collaboration, and NuScale is proud to be part of the solution," said John Hopkins, NuScale President and Chief Executive Officer. "NuScale is looking forward to working with CEC members to advance global decarbonization and accelerate the deployment of solutions such as our VOYGR SMR, which can meet the growing need for clean energy and energy security."

Electricity accounts for over 30% of the world's greenhouse gas emissions and is recognized as a critical sector that must be decarbonized to achieve net-zero goals by 2050. Meeting this challenge will require a rapid acceleration in the pace of clean energy deployment and the development of carbon-free energy technology and policy changes. By joining the CEC, NuScale illustrates that decarbonization can be found throughout the supply chain, and that NuScale small modular reactors are part of the broader solution to deep emissions reductions.

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