This is the first time that NuScale Power has received interest from a Japanese company, indicative of the rising interest in nuclear energy around the world
Japan Gasoline Corporation (JGC) Holdings has decided to invest over €33 million in NuScale Power, an American company that develops small modular reactors (SMRs). NuScale Power is developing its first SMR plant with funding from JGC Corporations, the JGC group company that handles international business regarding engineering, procurement and construction (EPC). JGC will collaborate with NuScale Power in association with Fluor, an American firm that specialises in EPC services.
In a statement confirming their decision, JGC said: “In the medium and long term, JGC Corporation will work with Fluor to secure and execute SMR EPC projects on a global basis, and intends to seek opportunities in integrating SMRs with renewable energy, as well as with hydrogen production and seawater desalination.”
NuScale’s SMR technology is unique because it integrates all components for steam generation and heat exchange into a single unit. Each unit has a capacity of 77 MWe (gross) per module, or about 924 MWe for a 12-module power plant. NuScale offers different sizes such as four-module and six-module plants, allowing clients to construct power plants according to their requirements.
Previously, NuScale Power collaborated with governments in Canada, the Czech Republic, Jordan, Romania, Ukraine and Bulgaria to update their nuclear reactors with NuScale’s SMR technology. This will be NuScale’s first commercial relationship with a Japanese-based company, indicative of growing interest in SMR technology and nuclear energy not just in Japan but globally. Commenting on the decision, Tadashi Ishizuka, Representative Director, President and COO of JGC Holdings, said: “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 the global energy market.”
JGC Group has been involved in various projects in nuclear energy such as nuclear fuel reprocessing, radioactive waste processing and disposal. Outside Japan, the company has collaborated on nuclear energy projects with the UAE and the UK. JGC Group has stated that the company has been expanding its nuclear energy business in response to the ongoing global transition from fossil fuels to hydrogen and renewable energy.