NuScale Closes Business Agreement with Sarens to Support SMR Deployment & Provide Cash Investment

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NuScale Power has announced that it has finalized an agreement with Sarens USA to support deployment of its groundbreaking small modular reactor (SMR) and provide a cash investment in NuScale.

Sarens USA, the global leader in crane rental services, heavy lifting and engineered transport, will provide both heavy crane supply for construction as well as engineering, and transportation planning, and will be the key heavy haul provider that gets the NuScale Power Module from the factory to the first site. As part of the agreement, Sarens will provide a long-term investment in NuScale, signaling a growing commitment from a major global strategic player as an investment partner. NuScale’s exclusive engineering, procurement and construction (EPC) contract partner and majority investor, Fluor Corporation, will also utilize Sarens for construction site cranes. Sarens is also positioned to provide additional support to both NuScale and Fluor. 

Sarens will also be supporting NuScale Power Module assembly work for the development of the NuScale power plant for the Utah Associated Municipal Power Systems (UAMPS) Carbon Free Power Project (CFPP). Under the scope of the agreement, work with Sarens will begin over the next six months.

“We are proud to collaborate with and welcome investment from Sarens, yet another great global company that recognizes the value of our groundbreaking technology,” said NuScale Chairman and Chief Executive Officer John Hopkins. “Sarens’ expertise in engineering, heavy haul and heavy lifting will be invaluable as we work towards the construction phase of our first plant in Idaho and begin to build our revolutionary power plant technology. We look forward to working with them in this exciting new venture towards the commercialization of America’s first SMR.”

“We are honored to be collaborating with NuScale. Sarens firmly supports a well-diversified green energy mix for the world’s future energy demands. Our dedicated U.S.-based Sarens Nuclear & Industrial Services team draws upon many years of experience in the U.S. nuclear industry. We are confident Sarens international footprint and experience will be instrumental in supporting NuScale’s global strategy. We thank NuScale for the trust they have shown in Sarens’ capacity to deliver this key-project,” said Wim Sarens, CEO of Sarens. 

NuScale made history in August 2020 as the first small modular reactor to ever receive design approval from the U.S. Nuclear Regulatory Commission. NuScale’s innovative design has unparalleled safety and reliability features, and its modular design makes it flexible, economic and faster to build. The fully factory-fabricated elements of NuScale’s design take safety-related fabrication work out of the field, lessening the risk to both cost and schedule, and realizing the benefits of repetitive factory fabrication.

nuscalepower.com

 

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