Joint Development Agreement Signed with Mitsubishi Electric of Japan and its U.S. Subsidiary Solidifying Their Role in SMR-160

We are pleased to announce that our Memorandum of Understanding entered over a year ago evolved into an agreement which formalizes the design authority role of Mitsubishi Electric Corporation (MELCO) and its U.S. subsidiary, Mitsubishi Electric Power Products Inc. (MEPPI) over instrumentation and control (I&C) systems for the SMR-160. On September 21, 2016, officials of MELCO, MEPPI and Holtec ratified the agreement during a signing ceremony in Kobe, Japan (see photo below). Under the agreement, MELCO/MEPPI will continue to develop the digital instrumentation and control systems and the associated human-system interface infrastructure founded on its proven digital control system for nuclear power plants based on the MELTAC control platform (see second photo below).

MELTAC digital controls, in use at more than 35 nuclear plants worldwide, will provide a proven and reliable technology for the control of SMR-160’s nuclear safety systems and balance-of-the-plant. MELCO/MEPPI will also lead the development of the relevant licensing documents to enable construction and certification in host countries. Under the terms of our agreement, MELCO/MEPPI will become the global provider-of-choice for instrumentation and control systems, and human interface software and hardware for SMR-160 power plants.

“Our reactor program is the only one in the world that is funded entirely by private capital which speaks volumes on our belief that SMR-160 will fulfill our vision to serve as the unfailingly safe generator of carbon-free energy at a competitive cost around the world. MELCO, widely acclaimed for its long term vision and digital control technology leadership, strengthens our resolve to provide a transformative nuclear reactor to the energy starved humankind at the earliest possible date,” says the agreement’s signer, Dr. William Woodward, Holtec’s Senior Vice President of International Projects. Mr. Koichi Orito (pictured above), Group Senior Vice President of MELCO’s Energy and Industrial Systems Business Unit vowed, “We would like to make solid contributions to the safety and reliability of SMR-160 through our proven technology and expertise.”