Company Announcements

NuScale’s 12^th training center delivers hands-on nuclear simulation technology to prepare the next generation of clean-energy professionals

CORVALLIS, Ore.--(BUSINESS WIRE)--Jun. 10, 2026-- NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, today announced the opening of its 12^thEnergy Exploration (E2) Center™ at the University of Virginia’s College at Wise (UVA Wise), strengthening southwest Virginia’s role in advancing nuclear energy education and workforce development. TheE2 Center,funded by a grant from the Virginia Clean Energy Innovation Bank powered by the Virginia Department of Energy (Virginia Energy), will deliver an immersive training and simulation environment designed to prepare the next generation of nuclear energy professionals.

“Today marks an important step forward in the expansion of clean-energy workforce development as NuScale opens our second E2 Center in the state of Virginia and 12^th globally,” said John Hopkins, NuScale President and Chief Executive Officer.“UVA Wise is now equipped with industry-leading simulation technologies that mirror real-world operations of advanced SMR plants containing NuScale Power Modules™. This center will provide students and trainees with practical experience and the expertise needed to lead in the energy sector and advance Virginia’s – and the country’s – clean-energy future.”

NuScale is a leader in the SMR industry as the only technology to have received design approval from the U.S. Nuclear Regulatory Commission (NRC), and with modules already in production. NuScale's E2 Centers provide an interactive learning environment where students can gain firsthand experience in operating a modern nuclear power plant. Using state-of-the-art computer modeling and a four-module control room simulator based on NuScale’s advanced SMR design, the E2 Center allows students and other users to assume the roles of nuclear plant operators, responding to simulated scenarios, monitoring system performance and gaining real-time insight into modular nuclear technology.

In coordination with university leadership and Virginia Energy, the E2 Center is intended to support regional workforce transition, STEM education pathways, and potential future energy-technology deployments within the state.

Virginia Governor Abigail Spanberger emphasized the role of advanced nuclear energy in meeting the Commonwealth's growing energy needs while creating new opportunities for workforce development and economic growth.

"Building a more affordable and reliable energy future means increasing energy generation in Virginia, and advanced nuclear is a part of how we get there," said Virginia Governor Abigail Spanberger. "Southwest Virginia has powered our Commonwealth for generations, and the installation of one of only a handful of facilities like this anywhere in the world is a recognition of what the region has always had to offer. That’s good for UVA Wise students, good for the communities across Southwest Virginia building their economic futures, and good for Virginia as we address increasing energy demand."

State officials also highlighted the E2 Center's role in supporting Virginia's workforce and economic development priorities.

"Investments like this are exactly what the Virginia Clean Energy Innovation Bank was built for: putting state resources behind the technologies and training that give Virginia's leaders, communities, and workforce the knowledge and experience they need to make sound energy decisions for years to come," saidVirginia Energy Acting Director Mike Skiffington.

"When businesses look to locate and grow, they need reliable energy, a technically skilled workforce, and the institutional partners to sustain it," said Virginia Secretary of Commerce and Trade Carrie Chenery. "With this investment, NuScale has signaled that Virginia has all three and that Southwest Virginia, with its deep energy heritage and growing institutional strength, is where that investment belongs."

UVA Wise leadership discussed the E2 Center's impact on student learning and workforce preparation.

“We are excited for this new opportunity to help the region’s workforce gain hands-on experience with one of the world’s leading technologies,” said Donna P. Henry, Chancellor of UVA Wise. “The NuScale simulator will enhance our outreach programs, expand STEM outreach, and help increase understanding about energy possibilities while positioning Southwest Virginia at the forefront of clean energy workforce development.”

The UVA Wise center adds to NuScale’s expanding E2 Center network. Including the new center at UVA Wise, NuScale E2 Centers are now installed at 12 educational institutions around the world, including George Mason University, Idaho State University, Ohio State University, Oregon State University, Rensselaer Polytechnic Institute, Texas A&M, University of Nevada-Las Vegas, South Carolina State University, University Politehnica of Bucharest, Ghana Atomic Commission, and Seoul National University. Learn more about NuScale E2 Centers.

About NuScale Power

Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The Company’s groundbreaking SMR technology is powered by the NuScale Power Module™, a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.

As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.

To learn more, visit NuScale Power’s website or follow us on LinkedIn, Facebook, Instagram, X, and YouTube.

Forward Looking Statements

This release contains forward-looking statements (including without limitation statements containing words such as "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements may include statements relating to our strategic and operational plans, expectations (including regarding our market positioning, our progress toward deploying our technology, the market for nuclear energy and providing energy technology for communities around the world), future growth, and the outlook of our business.

Our actual results may differ materially from what may be included in forward-looking statements as a result of a number of factors, including, among other things, the following: our ability to enter into binding contracts with customers to deliver NPMs; competition from other nuclear reactor technologies; delays in the development and manufacturing of NPMs and related technology; the possibility that we may continue to incur losses in the future and may not be able to achieve or maintain profitability; the cost of electricity generated from nuclear sources or our NPMs may not be cost competitive; the market for SMRs is not yet established and may not achieve growth as expected; our dependence on our relationships with ENTRA1, Fluor and other strategic partners; risks related to the Partnership Milestones Agreement that we entered into with ENTRA1; our ability to manage our growth effectively; our need for additional funding in the future; our partners’ and potential customers’ ability to secure funding; manufacturing and construction issues, including that our supply base in constrained; the politically sensitive environment we operating in and the public perception of nuclear energy; our dependence on senior management and other highly skilled personnel; our ability to obtain design approvals internationally; our customers’ ability to obtain required regulatory approvals on a timely basis or at all; compliance with environmental laws and evolving government laws and regulations; the impact of changing trade policies and new or increased tariffs; risks related to cybersecurity; changes in tax laws; our ability to protect our intellectual property; our limited number of authorized shares available for issuance; the price of our Class A common stock may be volatile; additional sales of our common stock or exercise of our options could result in dilution to our stockholders; we have and may in the future be subject to short selling strategies; NuScale Power, LLC being treated as a corporation for U.S. federal income tax or state tax purposes; and requirements under the Tax Receivable Agreement. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, our results may differ materially from its expectations and projections.

Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission, including the general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 and in subsequent filings we make with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale's Investor Relations Department at ir@nuscalepower.com. The Company disclaims any intent or obligation other than as required by law to update or revise any forward-looking statements.

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Source: NuScale Power