Company-U Solution
Company-U, a spinoff of OP Cleantech, is pursuing the development of multiple AP1000 nuclear reactors at sites that have completed licensing, de-risking the development phase by using standardized proven technology and leveraging past regulatory filings. By using a proven and operating nuclear design, the development and licensing process will be streamlined securing licensing authorization within 4 years and full commercial operations of our first plant within ten years. We will use this first plant as a template for the sequential development of additional nuclear plants with the plan of developing 6 to 10 plants in total, 6,000 to 10,000 MWs of installed capacity.
Company U is working with leading private equity equity investors to fund the origination and development of its nuclear power projects as well as other investors. We work in collaboration with utilities to streamline the development process by bringing our energy development and nuclear expertise to develop a more focused approach.
Company-U, a spinoff of OP Cleantech, is pursuing the development of multiple AP1000 nuclear reactors at sites that have completed licensing, de-risking the development phase by using standardized proven technology and leveraging past regulatory filings. By using a proven and operating nuclear design, the development and licensing process will be streamlined securing licensing authorization within 4 years and full commercial operations of our first plant within ten years. We will use this first plant as a template for the sequential development of additional nuclear plants with the plan of developing 6 to 10 plants in total, 6,000 to 10,000 MWs of installed capacity.
Company U is working with leading private equity equity investors to fund the origination and development of its nuclear power projects as well as other investors. We work in collaboration with utilities to streamline the development process by bringing our energy development and nuclear expertise to develop a more focused approach.
Company-U’s Development Strategy
Over the past 40 years nuclear plant development in the US has a deep history of failure (extensive cost and schedule overruns) despite some initial licensing success. A combination of economic, regulatory and political factors has all played a role in the current state of affairs.
Despite this state of affairs, there is a rash of recent nuclear plant startups, most advocating SMR or other nuclear technological innovations. What seems to be a common theme of these companies is a strong technical team but a team lacking in energy development, regulatory and licensing experience. We believe the latter is essential to build a new nuclear plant in the US.
Company-U’s secret sauce is rational project development and design which includes several key elements:
Over the past 40 years nuclear plant development in the US has a deep history of failure (extensive cost and schedule overruns) despite some initial licensing success. A combination of economic, regulatory and political factors has all played a role in the current state of affairs.
Despite this state of affairs, there is a rash of recent nuclear plant startups, most advocating SMR or other nuclear technological innovations. What seems to be a common theme of these companies is a strong technical team but a team lacking in energy development, regulatory and licensing experience. We believe the latter is essential to build a new nuclear plant in the US.
Company-U’s secret sauce is rational project development and design which includes several key elements:
- Proven Nuclear Technology: it’s simply easier to permit energy infrastructure which has a design and operating history with regulators. In the US nuclear industry, the Westinghouse AP1000 design is the only technology which fulfills this requirement.
- Proven Development Team: does the team have experience permitting large regulatory complex politically sensitive energy projects in the US and how has the team addressed the inevitable regulatory, political, environmental, and social obstacles such a project will confront.
- Site Selection: target existing licensed sites with COLs.
- Utility Cooperation/JV: we expect resistance from many existing nuclear operators given their corporate preference to develop projects internally. We believe that Company-U can address the likely unwillingness to relinquish development control by building an experienced team with the financial backing necessary to license the project that is willing to work collaboratively with the site owner.
- Standardize Design: the FEED design for the project which is approved and licensed needs to be the same design that is constructed. Any time a major modification is made to a refinery, LNG plant or nuclear plant, it is inevitable that there will be a significant regulatory delay and cost overruns. Chose a design and stay with it.
- Design and EPC Integration: early in the development process the design engineer and the EPC contractor for the project need to be on the same page. A design needs to take into consideration ease of not only permitting but particularly construction. The team needs to have a design engineer and construction engineer working collaboratively early on in the process. The EPC must buy in early to the licensed design as they will be the contractor and this can only be achieved by early cooperation in the process.
- Construction: bring the A team. In the mid 2010s several LNG projects encountered significant cost over-runs in the Gulf of Mexico. While there were several contributing factors the core issue was a lack of experienced and component EPC design and management teams. B and C teams simply did not deliver.
- Sole Source Open Book EPC: the EPC partner should join the team as early as possible, while a competitive bidding process could be undertaken, given the limited competent nuclear/energy EPCs in North America teaming up with a leading firm is the best path forward to developing a cost efficient project.
Experienced Team
Company-U’s team is comprised of two core components, the Downeast LNG development team which successfully permitted an LNG import terminal in the state of Maine, and a team of experienced nuclear engineering and regulatory professionals with experience in engineering, operating, constructing and licensing nuclear facilities. Collectively we have over 200 years of energy development and nuclear experience.
Our nuclear team is very deep and includes licensing, design, operating, waste disposal and political expertise. Team members have worked at GE Westinghouse, designing and operating nuclear facilities, designed small modular nuclear technology providers, licensed multiple facilities in close collaboration with NRC, addressed nuclear waste issues and managed complex political environments.
Our development team has experience in developing complex energy projects employing a grassroots bottom up development approach. We are developers with an approach that employs strong community engagement and input coupled with deep permitting, regulatory and execution expertise. We are nuclear professionals with a deep understanding of the industry, technology, regulations and politics necessary to license and build a new nuclear plant.
Our development approach includes:
Company-U’s team is comprised of two core components, the Downeast LNG development team which successfully permitted an LNG import terminal in the state of Maine, and a team of experienced nuclear engineering and regulatory professionals with experience in engineering, operating, constructing and licensing nuclear facilities. Collectively we have over 200 years of energy development and nuclear experience.
Our nuclear team is very deep and includes licensing, design, operating, waste disposal and political expertise. Team members have worked at GE Westinghouse, designing and operating nuclear facilities, designed small modular nuclear technology providers, licensed multiple facilities in close collaboration with NRC, addressed nuclear waste issues and managed complex political environments.
Our development team has experience in developing complex energy projects employing a grassroots bottom up development approach. We are developers with an approach that employs strong community engagement and input coupled with deep permitting, regulatory and execution expertise. We are nuclear professionals with a deep understanding of the industry, technology, regulations and politics necessary to license and build a new nuclear plant.
Our development approach includes:
- Formation of a strong and deep team with nuclear design, operating, and licensing experience and project development experience
- Execution of a Site Selection and Evaluation Study (technical, economic, environmental, socioeconomic and political assessment) to evaluate and identify the best sites for a AE1000 nuclear power plant
- Development of a permitting, licensing and construction strategy that is paired with capital raises
- Work with leading energy operators and investors to raise development capital to achieve FID and prepare the project for construction financing
- Leverage existing relationships in the energy and nuclear industries to create and refine partnerships
Lessons Learned – Leverage the LNG Experience
Developing a nuclear power project in the US requires a team that can demonstrate experience in navigating a complex energy regulatory review process, deep understanding of nuclear engineering, licensing and safety requirements, and the ability to address political and local constituent concerns to secure the required permits to construct such a facility.
The most analogous energy project development to nuclear power is LNG terminal development. Both are regulatory complex, engineering demanding, politically sensitive, encounter knowledgeable opposition, often mischaracterized, capital intensive and have a long timeline to completion. Company-U has the experience successfully navigating such a process.
Our development team successfully originated, developed and permitted Downeast LNG, a large complex regulatory intensive and politically sensitive LNG project in the state of Maine that secured a Final Environmental Impact Statement from FERC in 2014. The project was the only greenfield LNG project permitted in entire east coast of the USA of the more than twenty proposed. The developers successfully navigated opposition from the federal government of Canada and addressed local NIMBYISM through a grassroots project development approach that generated significant community support for the project.
https://naturalgasintel.com/news/maine-residents-vote-in-favor-of-downeast-lng-project/
https://www.ferc.gov/final-environmental-impact-statement-downeast-lng-project
Developing a nuclear power project in the US requires a team that can demonstrate experience in navigating a complex energy regulatory review process, deep understanding of nuclear engineering, licensing and safety requirements, and the ability to address political and local constituent concerns to secure the required permits to construct such a facility.
The most analogous energy project development to nuclear power is LNG terminal development. Both are regulatory complex, engineering demanding, politically sensitive, encounter knowledgeable opposition, often mischaracterized, capital intensive and have a long timeline to completion. Company-U has the experience successfully navigating such a process.
Our development team successfully originated, developed and permitted Downeast LNG, a large complex regulatory intensive and politically sensitive LNG project in the state of Maine that secured a Final Environmental Impact Statement from FERC in 2014. The project was the only greenfield LNG project permitted in entire east coast of the USA of the more than twenty proposed. The developers successfully navigated opposition from the federal government of Canada and addressed local NIMBYISM through a grassroots project development approach that generated significant community support for the project.
https://naturalgasintel.com/news/maine-residents-vote-in-favor-of-downeast-lng-project/
https://www.ferc.gov/final-environmental-impact-statement-downeast-lng-project