GE Hitachi Announces Dominion Energy as Investor in BWRX-300 Small Modular Reactor

GE Hitachi Nuclear Energy (GEH) today announced that Dominion Energy
will provide funding to help progress the BWRX-300, a 300 MWe small
modular reactor design being developed by GEH.

“Engaging customers is critical to product development, and we are
thrilled that Dominion will invest in our new SMR to advance its
commercialization,” said Jon Ball, Executive Vice President of Nuclear
Plant Projects for GEH. “The BWRX-300 represents a significant
improvement in the economics of new nuclear, an imperative for the
long-term viability of the industry. It is more efficient, simpler,
safer and needs a fraction of the footprint compared to the current
fleet of light water reactors.”

Dominion Energy’s funding of the BWRX-300 provides seed money to further
work that could lead to commercializing this technology. The company has
no plan at this time to build one at any of its commercial nuclear
stations.

“We believe that nuclear power has a vital role in ensuring a clean,
reliable, and cost-effective supply of electricity to meet the needs of
a growing economy,” said Dan Stoddard, Chief Nuclear Officer-Dominion
Energy. “We also believe the innovations GE Hitachi is pursuing with the
BWRX-300 Small Modular Reactor have the potential to make it a strong
competitor in the marketplace. Our view is that a modest investment now
to support further development of this technology is in the interest of
both companies.”

The BWRX-300 leverages the design and licensing basis of the
NRC-certified ESBWR. Through dramatic design simplification, GEH
projects the BWRX-300 will require up to 60 percent less capital cost
per MW when compared to other water-cooled SMRs or existing large
nuclear designs. If these savings can be achieved, the BWRX-300 can
become cost-competitive with power generation from combined cycle gas
and renewables. The BWRX-300 is the company’s 10^th generation
boiling water reactor design.

About GE Hitachi Nuclear Energy

Based in Wilmington, N.C., GE Hitachi Nuclear Energy (GEH) is a
world-leading provider of advanced reactors and nuclear services.
Established in 2007, GEH is a global nuclear alliance created by GE and
Hitachi to serve the global nuclear industry. The nuclear alliance
executes a single, strategic vision to create a broader portfolio of
solutions, expanding its capabilities for new reactor and service
opportunities. The alliance offers customers around the world the
technological leadership required to effectively enhance reactor
performance, power output and safety. Follow GEH on LinkedIn and Twitter @gehnuclear.

About Dominion Energy

Dominion Energy is one of the nation’s largest producers and
transporters of energy, with a portfolio of approximately 26,000
megawatts of electric generation, 14,800 miles of natural gas
transmission, gathering and storage pipeline, and 6,600 miles of
electric transmission lines. Dominion Energy operates one of the
nation’s largest natural gas storage systems with approximately 1
trillion cubic feet of storage capacity and serves nearly 6 million
utility and retail energy customers. The company operates three nuclear
stations, two in Virginia and one in Connecticut. For more information
about Dominion Energy, visit the company’s website at www.dominionenergy.com.

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