Ultra Safe Nuclear Corporation Partners with Synthos Green Energy to Develop Micro Reactor-Based Systems to Decarbonize Company Chemical Facilities

Ultra Safe Nuclear Corporation Partners with Synthos Green Energy to Develop Micro Reactor-Based Systems to Decarbonize Company Chemical Facilities

SEATTLE / WARSAW – November 3, 2020 – Synthos Green Energy (SGE) – part of  Synthos S.A. Capital Groupwhich includes Synthos S.A., a leading chemical manufacturer based in Poland, with operations in the Czech Republic, Holland, and France – is actively pursuing carbon-free energy solutions for its manufacturing facilities in Europe. To help meet this goal, the company has signed a Cooperation Agreement with U.S.-based Ultra Safe Nuclear Corporation™ (USNC) which aligns with Synthos S.A. strategy aimed to reduce CO2 emissions from fossil fuels.

As part of this agreement, Synthos Green Energy and Ultra Safe Nuclear will assess the feasibility of the Micro Modular Reactor (MMR™) and “MMR Energy System” plant to generate carbon-free hydrogen, heat, and power for use in the company’s chemical plants in Poland and other EU countries, as well as for wider commercial use by various regional industrial manufacturing companies. The agreement is the latest step in Synthos Green Energy’s strategy to generate zero carbon emissions at its facilities. The Energy System will replace existing plants that use coal or natural gas. In developing the Energy System, Ultra Safe Nuclear is partnering with multiple, global industrial heavyweights including Hyundai Engineering Company (a Hyundai Motor Group Company) to develop and deliver high-efficiency power, heat, and hydrogen-generation capabilities.

USNC and SGE have already jointly applied to the Polish Ministry of Development for project financing from the IPCEI mechanism (Important Projects of Common European Interest) for projects within the scope of the value chain of hydrogen technologies and systems. The goal of the joint project is the development of an economically efficient, zero-emission, high-temperature heat and power source for the production of hydrogen on an industrial scale. The efficiency of the cogeneration system in this process is expected to be about 80-85%, which exceeds the efficiency of renewable energy sources in the electrolysis process by several factors (25-30%).

“We’re committed to identifying leading technologies capable of being deployed in the near term that will enable us to lower and eventually eliminate the carbon footprint of our manufacturing facilities and increase competitiveness of our companies” said Michal Solowow, owner of Synthos S.A. Capital Group. “The Ultra Safe Nuclear approach is uniquely suited to our needs as its MMR is exceptionally elegant and safe, enabling us to implement our decarbonization strategy and ultimately make Synthos more competitive. I also firmly believe that MMR technology can be part of broader solution for the decarbonization of the Polish industry.”

The Ultra Safe Nuclear MMR is planned for full demonstration at the Chalk River site of the Canadian Nuclear Laboratories, with the support of Canada’s largest nuclear operator, Ontario Power Generation. In Canada, the MMR is intended for off-grid and industrial applications, supplying heat and power for clean and reliable energy at a lower cost.

The MMR design by Ultra Safe Nuclear features the industry’s most mature high-temperature gas cooled nuclear reactor technology, providing a clear path to outcompete fossil fuels for process heat utilization and hydrogen production. USNC ultra-safe nuclear reactors having inherent nuclear safety features and small power output capacity - allows for nuclear CHP cogeneration plant location directly at customer sites and can be operated in power and heat island modes. The Ultra Safe Nuclear MMR offers zero-carbon options in the high-temperature heat utilization market and small-grid, direct-to-end-customer power, heat and optionally hydrogen delivery.

In addition to the built-in safety of Ultra Safe Nuclear’s Fully Ceramic Micro-encapsulated (FCM™) fuel and inherently safe design of the MMR, the cost of bringing an Ultra Safe Nuclear MMR online is projected to be significantly lower than that of other Small Modular Reactor (SMR) concepts by virtue of its smaller size and simpler design. Through the use of a molten salt heat storage unit, operation of the MMR is simple, requiring minimal support and maintenance, with no on-site fuel storage, handling, or processing.

“The design of the MMR units is extremely simple and the Energy System power plant is tailor-made for the industrial applications of Synthos,” stated Francesco Venneri, CEO, Ultra Safe Nuclear Corporation. “Our micro modular reactor and power plant can be operational in a matter of months after start of construction, quickly and safely delivering hydrogen, heat, and power that will make Synthos more competitive and environmentally friendly. We have been working closely with Synthos Green Energy to use the best of our technology on behalf of our large industrial partner’s needs.”

About the MMR Energy System

The MMR Energy System is a zero-carbon nuclear power plant, integrating one or several standardized micro modular reactors (MMRs) with a heat storage unit and the adjacent plant for power conversion and utilization. Electrical power or process heat (or a mix of both) is produced in the Energy System, depending on configuration. Nuclear heat is transferred from the micro reactors to a molten salt energy storage unit that decouples the nuclear system from the power-utilization system, greatly simplifying operations and allowing flexible use of the energy generated. No water is required for cooling. The Energy System can be used to provide carbon-free, high-quality process heat for co-located industrial applications, and for high-efficiency hydrogen production.

About Ultra Safe Nuclear Corporation

Ultra Safe Nuclear is the Seattle-based global leader in the deployment of micro reactors, and a strong vertical integrator of nuclear power technologies, entirely committed to bringing safe, commercially competitive, clean and reliable nuclear energy to markets throughout the world. The company adheres to strict inherent and intrinsic safety principles through technological innovation in fuels, materials, and design practices: Safe. Simple. Secure. Reliable Energy Anywhere.

About Synthos Green Energy (SGE)

Synthos Green Energy S.A. (formerly: Synthos Green Energy limited liability company) is part of Synthos S.A. Capital Group. The company was established in order to develop and implement zero-emission technologies and electricity production from renewable energy sources for the Synthos Group. The company is part of Polish private-held industrial group owned by Mr. Michał Sołowow. Industrial group owns, among others, 18 production plants in 8 countries and sells products in more than 60 countries on six continents. Total employment exceeds 16,000 people.