U.S.-based NuScale Power, majority owned by Fluor Corporation, said that it had set it sights on the British energy market for its Small Modular Reactor (SMR) and that it was seeking a partner to help develop and deploy their technology in the U.K.
NuScale Power reiterated its intentions with the publication of a UK Prospectus by the Small Modular Reactor (SMR) developer. The article is headlined “A nuclear energy opportunity for the UK.” It highlights the opportunity that exists for the British nuclear industry to grab a share in an emerging global SMR market estimated to be worth about $612 billion by 2035, the company said.
NuScale is developing SMR technology with help from a $217 million U.S. Department of Energy five-year, cost-sharing grant. Its first viable project is development of an SMR the company expects to establish in Idaho by 2023.
NuScale Power is on track to submit its technology for design certification in the Unites States next year and expects to receive regulatory approval in the early 2020s, paving the way for its first deployment of the system.
NuScale Power Chairman and Chief Executive Officer John Hopkins said the technology in Britain would be developed “off the back of progress in the U.S.”
In Britain, the company is “building collaborative links with key players in the nuclear sector,” Hopkins said. The links include work with the Nuclear AMRC and the National Nuclear Laboratory. The company is also taking to other “potential partners,” Hopkins said.
“Britain has the opportunity to grab a share of the future high value global SMR market,” he said.
NuScale's efforts in Britain are being spearheaded by Executive Vice President Tom Mundy, who spoke at last month’s World Nuclear Association Symposium in London. This month, he will speak at the SMR UK Summit, also in London, with the aim of setting out the clear benefits of the technology to the UK market, in particular.
NuScale said in the near term it is on track for initial deployment in Idaho. The system is cost-effective, flexible, and can be customized for scale. It can be integrated well alongside intermittent renewables due to its load following capabilities. The factory-built reactors can also be added incrementally. NuScale envisions a maximum of 12 small reactors at one location, which would add up to a 600 MWe system.
Among its bragging points, the reactors can be safely shut down and self-cool for an indefinite period with no operator action, no electrical power and no additional water.