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

Dominion to Invest in Development of New SMR Design

WILMINGTON, North Carolina-May 21, 2018-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 10th 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.

For more information, contact:

Jon Allen
GE Hitachi Nuclear Energy
+1 910 819 2581
jonathan.allen1@ge.com