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S.N. NUCLEARELECTRICA S.A. - SNN

SNN and USTDA in partnership

Release Date: 1/13/2021 4:43:56 PM

IRIS Code: 154DC

Current report according to: ASF Regulation no. 5/2018 on issuers of financial instruments and market operations

Reporting date: 13.01.2021

Name of the issuing entity: Societatea Nationala NUCLEARELECTRICA S.A.

Registered office: Strada Polona nr. 65, Sector 1, Bucuresti

Phone/fax number: 021-203.82.00 / 021 316.94.00

Sole Registration Code with the Trade Register Office:10874881

Order number: J40/7403/1998

Subscribed and paid share capital: 3.016.438.940 lei

Regulated market on which the issued securities are traded: Bucharest Stock Exchange

 

To:                              Bucharest Stock Exchange

                                    Financial Supervisory Authority

           

Important event to be reported: USTDA and SN Nuclearelectrica SA  Partner to Support the Delivery of Technical Assistance related to SMR sitting assessment

SN Nuclearelectrica SA (“SNN”) informs its shareholders and investors on the awarding by US-TDA of a non-refundable grant in value of $1,277,115 US that aims to fund the cost of services required in connection with the delivery of technical assistance related to identifying and performing a preliminary assessment of new potential SMR compatible nuclear sites in Romania, outside in Cernavoda NPP.

USTDA is an ideal partner for Romania as it seeks cutting-edge civil nuclear energy technology for its future energy needs.” said Todd Abrajano, USTDA’s Chief Operating Officer and Head of Agency. “Our assistance will build stronger ties between our respective industries and create new business opportunities for U.S. industry in an important market.”

The Grant Funds to be provided by USTDA will be used to fund the costs of technical assistance for identifying and assessing suitable sites for small and modular nuclear technologies (“SMR”), and a licensing roadmap for these.

US and Romania are committed to the development of nuclear energy.  According to the 2020 Romanian Energy Strategy Project, the employment of small and modular nuclear reactors might be beneficial to increase  energy capacities without CO2 emissions and sources of hydrogen production, after 2035. Therefore, SNN’s interest is to timely initiate the assessment of potential sites, others than Cernavoda area, through this USTDA non-refundable grant. 

“In addition to the current development of reactors 3 and 4, SNN is also interested in assessing the development of Small Modular Reactors as a long-term solution to further develop the Romanian nuclear industry. We are interested in features like flexibility, modularity and higher efficiency that could provide advantages for both the energy system and businesses after 2035. The grant awarded by US TDA will allow us to further explore sitting and technology compatibility with the proper technical assistance and have this assessment process initiated in due time for further decision-making.”-Cosmin Ghita, CEO SNN.

Cosmin Ghita

Chief Executive Officer



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