LONDON (September 26, 2024) — GE Vernova’s Nuclear division, GE Hitachi Nuclear Energy (GEH), has advanced to the next phase of the Great British Nuclear (GBN) Small Modular Reactor (SMR) competition.

This SMR competition is a crucial component of the UK government’s strategy to revive nuclear energy and establish the country as a leader in the global race to develop state-of-the-art nuclear technologies. The shortlist has been narrowed down to four contenders, with the next phase offering successful companies the chance to secure government contracts.

GEH’s 10th-generation SMR design, the BWRX₋300, builds upon decades of practical operational experience and innovation. It utilizes a standardized design, a proven delivery model, and GEH’s expertise in international regulatory cooperation. In collaboration with Ontario Power Generation (OPG), GEH is working on the first BWRX₋300 at OPG’s Darlington site near Toronto. Initial site preparation has been completed, with construction set to begin in 2025 and commercial operations expected to start by the end of 2029. Four 300 MW units are planned for the Darlington site.

Andy Champ, GEH’s UK Country Leader, stated: “We have significant ambitions for deploying our SMR technology in the UK, and we are proud to progress to the next stage of GBN’s competition. With site works already underway in Canada for our first BWRX₋300—the most advanced SMR project in the G7—we are well-positioned to lead SMR deployment in the UK by leveraging our expertise in other markets.”

Sean Sexstone, Executive Vice President of Advanced Nuclear at GEH, added: “As the UK seeks to provide cleaner, cheaper, and reliable energy solutions, the BWRX₋300 presents a simplified, safer, and scalable design that has been thoroughly tested. We are ready to partner with GBN and the UK government to fulfill our shared nuclear ambitions in the UK, fast-tracking the energy transition.”

With a long-standing presence in the UK, GE Vernova has a significant local footprint, operating four manufacturing facilities and providing over 30 percent of the country’s electricity through its technologies.

GEH is committed to further developing its strong UK supply chain for the BWRX₋300, having recently signed a series of Memoranda of Understanding (MoUs) with Aecon, AtkinsRéalis, Jacobs, and Laing O’Rourke. These agreements build on GEH’s previous collaboration with Sheffield Forgemasters to explore how the Sheffield-based company’s forgings could support BWRX₋300 deployment in the UK. Earlier this year, GEH also hosted an SMR supply chain conference in Sheffield, attended by more than 150 UK businesses.

About GE Vernova

GE Vernova (NYSE: GEV) is a globally focused energy company that includes Power, Wind, and Electrification divisions, supported by its accelerator businesses. With over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to lead the energy transition by electrifying the world while working to decarbonize it. GE Vernova helps customers power economies and provide electricity that is critical for health, safety, security, and improved quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people across more than 100 countries. Its purpose, The Energy to Change the World, fuels GE Vernova’s technology in delivering a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Nuclear division, through its global alliance with Hitachi, is a leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. This includes boiling water reactors and small modular reactors, such as the BWRX₋300, one of the most innovative and straightforward boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world leader in providing boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd., operating primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission is reflected in its name: the “GE” symbolizes a legacy of quality and ingenuity, while “Ver” (from verde) refers to Earth’s lush ecosystems, and “Nova” (from Latin novus) signals a new era of lower-carbon energy.

Forward-Looking Statements

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