NuScale Power, Habboush Group and ENTRA1 form Strategic Alliance
NuScale Power Corporation (NuScale) and Habboush Group (HG) have entered into an agreement forming a strategic alliance that establishes a “one-stop-shop” for the financing, investment, development, execution, and management of NuScale-powered projects and opportunities.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220907006360/en/
This new globally-oriented, strategic alliance between NuScale and HG – along with energy transition platform ENTRA1 – aims to provide integrated capabilities for financing, investment, development, management and execution of large-scale assets and projects in connection with the rapidly growing global demand for NuScale’s premier clean energy solutions.
“We are delighted to work with the Habboush Group and ENTRA1 as we continue to make progress toward delivering clean, reliable, and safe energy solutions to customers around the world,” said NuScale President and Chief Executive Officer John Hopkins. “Our technology is critical to supporting the clean energy transition and we hope that this strategic partnership will increase access to our trailblazing SMR technology and the carbon-free electrical power that the world needs.”
“As the world’s energy demand grows with a need for sustainable and reliable baseload production, NuScale’s technology can play a significant and multifaceted role in the global energy transition,” said Wadie Habboush, CEO for HG. “We are looking forward to working with partners, stakeholders and financial institutions who share our interest and responsibility towards the future of the world’s energy transition and serving humankind.”
NuScale’s proprietary and innovative carbon-free baseload and load-following power solution, the NuScale Power Module™, is the only viable, near-term deployable U.S. advanced nuclear small modular reactor (SMR) technology. NuScale’s SMR technology is safe, reliable and scalable and the first and only to receive Standard Design Approval from the U.S. Nuclear Regulatory Commission.
About NuScale Power
NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.
Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.
ENTRA1 is a private investment platform purpose-built to create value by addressing global transformations. ENTRA1 believes in supporting investments and developments that bring positive impacts to communities around the world with a focus on global energy, infrastructure and related technology sectors. As different parts of the world adopt new ways related to energy transition and sustainable infrastructure, ENTRA1 believes in contributing skillsets in origination, development, structuring, management and execution of proprietary large-scale global opportunities across the capital structure. (www.entra1.com)
About Habboush Group
HG is an international private asset management firm focused on developing, managing, operating and financing proprietary opportunities predominantly in energy and infrastructure sectors drawing on more than 40 years of experience and capabilities in executing projects. HG, along with its professional team, brings a history of strategically partnering and working with publicly-traded organizations and financial institutions. (www.habboushgroup.com)
Forward Looking Statements
This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. While NuScale may elect to update these forward-looking statements at some point in the future NuScale specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing NuScale’s assessments of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
(C) (503) 270-9329
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Philip Morris International Announces New Regional Structure and Senior Management Changes to Accelerate Growth Toward a Smoke-Free Future25.11.2022 19:05:00 CET | Press release
Philip Morris International Inc. (PMI) (NYSE: PM) today announced a new regional structure and related senior management changes to enable continued growth as a multicategory leader internationally and advance its rapid transition toward a smoke-free future. “We are changing the company’s regional structure to further support the growth of our smoke-free business, reinforce consumer centricity, and increase the speed of innovation and deployment—all in alignment with our ambition of becoming a majority smoke-free business by net revenues by 2025,” said Jacek Olczak, PMI’s Chief Executive Officer. “The new structure will also create new opportunities to further grow our senior talent, deepening the bench of leaders who will spearhead PMI’s progress toward a smoke-free future for the years to come. I am confident of the exceptional caliber and determination of our people and wish them the best in their new roles.” By the end of January 2023, PMI will rearrange its operations in four regi
China’s Vanke Foundation presents fruitful green development achievements at COP2725.11.2022 15:44:00 CET | Press release
China’s Vanke Foundation invited dozens of Chinese charitable organizations, institutes and industry associations to present the fruitful achievements of China's green development at the recently concluded 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221125005204/en/ Wang Shi(L4), Chairman of Vanke Foundation, and other Chinese delegates called for joint action on climate change at COP27 in Sharm El-Sheikh, Egypt on Nov. 11, 2022. (Photo: Business Wire) According to Wang Shi, Founder of Vanke Group, Chairman of Vanke Foundation, and Founder of C Team, only a few nongovernmental Chinese individuals, including himself, representing about 100 Chinese companies attended COP15 in Copenhagen back in 2009, while this year, together with numbers of partners from different sectors, approximately one million Chinese enterprises and institutions have been invol
Fruits Eco-Blockchain Project Completes its Security Audit of their Native Blockchain Conducted by Quantstamp25.11.2022 15:00:00 CET | Press release
Fruits Eco-Blockchain Project is pleased to announce their completion of a security audit of the Fruits Blockchain's contract system conducted by Quantstamp, a leader in web3 security. The focus of the audit was to verify that the smart contract system is secure, resilient and working according to its specifications. The audit activities can be grouped in the following three categories: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221120005089/en/ Fruits Eco-Blockchain Project completes its security audit of their native blockchain conducted by Quantstamp (Graphic: Business Wire) Security: Identifying security related issues within each contract and within the system of contracts. Sound Architecture: Evaluation of the architecture of this system through the lens of established smart contract best practices and general software best practices. Code Correctness and Quality: A full review of the contract source code. The prim
Abu Dhabi Hosts Annual Investment Meeting May 202325.11.2022 14:49:00 CET | Press release
Abu Dhabi will host the 12th edition of the Annual Investment Meeting from 8 to 10 May 2023, which will take place under the theme of “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity”. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221125005180/en/ Abu Dhabi Hosts Annual Investment Meeting May 2023 (Photo: AETOSWire) At a press conference held today in Abu Dhabi, the announcement of the launch of AIM Global 2023 which is supported by the Ministry of Industry & Advanced Technologies, with the Abu Dhabi Department of Economic Development (ADDED) as a lead partner was made in the presence of H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Vice Chairman of the UAE Industry Development Council and H.E. Mohamed Ali Al Shorafa, Chairman of ADDED. AIM Global 2023 pillars will discuss the global capital market transformation, way
Alberto Bona’s Exploit on the Class40 IBSA : Eighth at the Route Du Rhum25.11.2022 13:13:00 CET | Press release
Thursday, November, 24, at 3:34:50 pm local time (8:34:50 Paris-Rome time) in Pointe-à-Pitre, Alberto Bona on the Class40 IBSA crossed the finish line of the twelfth edition of the Route du Rhum in eighth place. His race time is 15 days, 6 hours, 19 minutes and 50 seconds. The skipper of the Class40 IBSA sailed the 3,542 miles between Saint-Malo and Pointe-à-Pitre at a speed of 9.67 knots on the great-circle course, actually covering 4005.51 miles at an average speed of 10.93 knots. He arrived in Pointe-à-Pitre 1 day, 3 hours, 11 minutes and 10 seconds after the Class40 winner, Yoann Richomme. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221125005116/en/ Alberto Bona on the Class40 IBSA crosses the finish line of the twelfth edition of the Route du Rhum (©IBSA | Beppe Raso) “A very nice but extremely hard regatta, especially in the upwind week”, stated Alberto upon arrival. “I am extremely happy: IBSA and I made it togethe
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom