NuScale Power and Ebara Elliott Energy Announce a Strategic Partnership to Showcase Use of Advanced Nuclear Technology to Power Petrochemical Plants

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CORVALLIS, Ore.--(BUSINESS WIRE)--Mar 19, 2026--

NuScale Power Corporation (NYSE: SMR) (NuScale), the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, and Ebara Elliott Energy (EEE), a global leading producer of advanced turbomachinery solutions, announced a collaborative research program to demonstrate and field test a commercial scale high-temperature steam compressor to integrate NuScale Power Modules™(NPM) with petrochemical plants needing process heat.

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EEE’s compressors, turbines and pumps are based on proven technology, relying on more than 100 years of operational experience and thousands of units operating around the globe in chemical facilities 24/7. NuScale’s technology, powered by its innovative NPM, is the first and only SMR to have received U.S. Nuclear Regulatory Commission design approval.

Under the program, EEE and NuScale will collaborate to support the development, manufacturing, and integration of critical turbomachinery and energy-conversion systems for petrochemical plants powered by NuScale technology. The collaboration is intended to combine NuScale’s industry-leading SMR technology with EEE’s decades of expertise in steam turbines, compressors, and rotating equipment to deliver clean, proven and efficient nuclear power solutions for the petrochemical plants, a first for the industry.

NPMs are designed to produce reliable process steam for industrial applications at 500 o C or higher, a temperature previously considered beyond the reach of light water reactors. Steam produced by the NPM will be isolated from outside facilities via an intermediate heat exchanger and subsequently raised to high temperature through the simple process of adiabatic compression.

“The application of NuScale’s industry-leading technology to produce high temperature process steam is an exciting use case that unlocks significant commercial opportunities for petrochemical plants, and we are proud to partner with EEE to deliver these high-performance energy solutions to customers worldwide,” said Dr. José Reyes, Chief Technology Officer of NuScale Power. “Not only does our collaboration with EEE strengthen NuScale’s robust supply chain, but their deep experience in turbomachinery and manufacturing excellence also aligns perfectly with our mission to provide safe, scalable, and carbon-free energy.”

“This partnership leverages our century of engineering excellence to accelerate the deployment of NuScale’s innovative clean energy technology,” said Ron Josefczyk, Vice President, New Apparatus, Ebara Elliott Energy. “By combining our specialized design and manufacturing capabilities with NuScale’s SMR design, we are creating a reliable, low-carbon power solution specifically optimized for the rigorous demands of the global petrochemical industry.”

The project is in progress with the compressor target completion in 2027. Currently, the partners are seeking candidates for the next phase of the project, field testing.

NuScale and Ebara Elliott Energy will gather in Houston next week to share the progress of this important collaboration at the World Petrochemical Conference, where Chief Technology Officer Dr. José Reyes will deliver a presentation titled “Reframing Nuclear Heat: From Future Concept to Commercial Reality” on March 24. NuScale and EEE will also be welcoming conference attendees to their booth in the foyer of the Marriott Marquis Houston where visitors can learn more.

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.

About Ebara Elliott Energy

A solution provider in the energy industry, Ebara Elliott Energy (EEE) designs, manufactures, and services technically advanced centrifugal and axial compressors, steam turbines, power recovery expanders, custom pumps, and cryogenic products used in the petrochemical, refining, oil & gas, and liquefied gas industries, as well as in power applications. EEE’s 29 globally distributed service and sales centers provide skillful and effective support for these products. Ebara Elliott Energy employs 3,700 people around the world.

Forward Looking Statements

This release contains forward-looking statements (including without limitation statements containing terms such as "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements include statements relating to strategic and operational plans, expectations regarding NuScale’s E2 Centers, including its impact on the future of energy, nuclear science and engineering education, the role of nuclear energy in the future of power generation, NuScale’s positioning to serve customers, capital deployment, future growth, new awards, backlog, earnings and the outlook for the Company’s business.

Actual results may differ materially as a result of a number of factors, including, among other things, the Company’s liquidity and ability to raise capital; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; our expectations regarding obtaining regulatory approvals, and the timing thereof, to deploy our SMRs in the United States and abroad; forecasts regarding end-customer adoption rates and demand for our products in markets that are new and rapidly evolving; limitations on the effectiveness of our controls and procedures and our remediation plans related thereto; intense competition in the industries in which we operate; failure of our partners to perform their obligations; cyber-security breaches; foreign economic and political uncertainties; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of our control, including weather conditions, pandemics (including COVID-19), public health crises, political crises or other catastrophic events; macroeconomic conditions; the use of estimates and assumptions in preparing our financial statements; client delays or defaults in making payments; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; uncertainties, restrictions and regulations impacting our government contracts; the inability to hire and retain qualified personnel; the potential impact of certain tax matters; possible information technology interruptions; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; damage to our reputation; failure to adequately protect intellectual property rights; asset impairments; climate change and related environmental issues; increasing scrutiny with respect to sustainability practices; the availability of credit and restrictions imposed by credit facilities for our clients, suppliers, subcontractors or other partners; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure by us or our employees, agents or partners to comply with laws; new or changing legal requirements, including those relating to environmental, health and safety matters; failure to successfully implement our strategic and operational initiatives and restrictions on possible transactions imposed by our charter documents and Delaware law. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company’s 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 (the “SEC”), including the general

economic conditions and other risks, uncertainties and factors set forth in the section entitled “Cautionary Note Regarding Forward-Looking Statements” and “Summary of Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequent filings with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale's Investor Relations Department at [email protected]. The Company disclaims any intent or obligation other than as required by law to update the forward-looking statements.

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CONTACT: Media contacts

Chuck Goodnight, Vice President, Business Development, NuScale Power

[email protected] Price, Head of Corporate Communications, Ebara Elliott Energy

[email protected] contact

Rodney McMahan, Senior Director, Investor Relations

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: CHEMICALS/PLASTICS OTHER ENERGY OIL/GAS MANUFACTURING ENERGY NUCLEAR

SOURCE: NuScale Power

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PUB: 03/19/2026 06:50 AM/DISC: 03/19/2026 06:50 AM

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