Fluor Awarded Reimbursable Services Contract for North America’s First Small Modular Nuclear Reactor Project by Utah Associated Municipal Power Systems (UAMPS)

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01/11/2021 - 04:21 PM

Fluor Corporation (NYSE: FLR) announced today that Utah Associated Municipal Power Systems (UAMPS) awarded the company a cost-reimbursable development agreement to provide estimating, development, design and engineering services for its Carbon-Free Power Project. Fluor will book the initial undisclosed value in the first quarter of 2021 and as it accrues.

A futuristic rendering of the NuScale Power plant (Photo: Business Wire)

“Fluor’s development agreement with UAMPS for its Carbon-Free Power Project is a monumental milestone toward providing clean load following, base load energy for UAMPS members using NuScale Power’s unique small modular reactor design,” said Alan Boeckmann, executive chairman of Fluor. “Fluor has been a preeminent player in the nuclear industry for 70 years and is well positioned to assist UAMPS and the DOE to accomplish their objectives to provide carbon-free energy for its customers and to deploy a commercially viable small modular reactor with safety, security and performance characteristics that exceed the operational capabilities of current certified designs.”

The U.S. Department of Energy (DOE) recently provided UAMPS a multi-year cost-share award for up to $1.355 billion in funding, subject to future year appropriations, to aid in the development of the first small modular nuclear reactor project in the U.S. The DOE funding is intended to mitigate licensing and financial risk and to accelerate commercial deployment schedules in order to meet critical U.S. energy, environment and economic goals.

Fluor has been serving the nuclear industry for more than