NuScale Power has announced that it has finalized an investment and strategic partnership agreement with JGC Holdings Corporation (JGC HD), a holding company of the EPC contractor group company headquartered in Japan.
As part of a commercial relationship with Fluor Corporation – NuScale’s majority investor and EPC partner in the United States – JGC HD will provide a $40 million cash investment in NuScale Power and partner with Fluor on the deployment of NuScale Power Plants.
The announcement signals the first commercial relationship and investment in NuScale Power from a Japanese-based company.
“JGC HD’s investment and partnership with NuScale Power is a welcome endorsement of our SMR technology and its international viability,” said NuScale Chairman and Chief Executive Officer John Hopkins. “NuScale looks forward to demonstrating how our cleaner and safer advanced nuclear technology can bring numerous benefits – economic and environmental – to countries around the world as they seek innovative solutions to complete a clean energy transition.”
“The JGC Group embraces the goal of ‘Carbon Neutral in 2050’ as committed by the Japanese government last year,” said Tadashi Ishizuka, Representative Director, President and COO of JGC Holdings Corporation. “Our investment in NuScale technology, with its enhanced safety features, will enable JGC to expand our EPC business and deliver a zero carbon resource to the growing demand of global energy market.”
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