#USA #New York #Brookfield #Nuclear Energy #The Nuclear Company

Brookfield and The Nuclear Company Form Alliance to Enhance Nuclear Projects

In a strategic move aimed at revitalizing nuclear energy in the United States, Brookfield, a leading global investment firm, has partnered with The Nuclear Company (TNC) to form a new entity. This joint venture focuses on the development and management of nuclear projects, leveraging the advanced reactor technology of Westinghouse. The goal? To establish themselves as a premier player in the nuclear sector worldwide.

Brookfield combines its extensive experience in global asset management and energy infrastructure development with TNC's specialized skills in executing nuclear projects. This partnership will allow them to offer comprehensive services for the deployment of nuclear reactors, particularly those based on the Westinghouse AP1000 and AP300 systems. Key offerings include project management, licensing support, and oversight of engineering, procurement, construction, and commissioning activities. Final documentation is anticipated to proceed in the coming months, subject to standard regulatory approvals.

A significant focus of this new venture is the V.C. Summer nuclear project in Fairfield County, South Carolina. Brookfield has designated this joint company to oversee the management of the partially completed AP1000 units located near Jenkinsville. Many energy analysts view this project as one of the most promising nuclear development opportunities in the U.S., supported by South Carolina's state utility, Santee Cooper.

This new venture will play an instrumental role in conducting due diligence for the project and will supervise its execution if it progresses to a final investment decision. Further evaluations and regulatory approvals will be necessary before any definitive agreements can be established.

Wyatt Hartley, managing partner at Brookfield, stated, "This joint venture showcases Brookfield's commitment to large-scale infrastructure investments and our preference for partnering with experienced operators. By combining our global infrastructure development capabilities with project execution expertise, we believe this platform can significantly accelerate the U.S. nuclear renaissance, especially in collaboration with Westinghouse and the U.S. government."

Joe Klecha, Chief Nuclear Operations Officer at The Nuclear Company, echoed this sentiment, remarking on the company's adeptness in managing complex energy projects. He noted, "Our team is experienced in ventures like the Vogtle site, which highlights our understanding of what it takes to advance nuclear energy. This partnership provides a much-needed model that aligns people, capacities, and capital to facilitate swift and large-scale nuclear development."

About Brookfield

Brookfield is a globally recognized investment firm with over $1 trillion in assets under management. The company specializes in owning and operating essential services and real assets that serve as the backbone of the global economy. Its investment strategies include infrastructure, renewable energy, private equity, real estate, and credit, all of which are vital to driving productivity and economic growth.

With over a century of operational history and a presence in over 30 countries, Brookfield invests patient capital for the long term to build core assets and businesses that foster a more connected and sustainable future. Through these efforts, the organization aims to generate lasting wealth for its clients while providing solid risk-adjusted returns for its investors. Brookfield Corporation (NASDAQ: BN) and Brookfield Asset Management (NYSE: BAM) are both publicly traded entities listed on the New York and Toronto stock exchanges.

About The Nuclear Company

The Nuclear Company is leading the modernization of nuclear construction through its unique design and multi-unit construction approach, supported by its AI-based Nuclear Operating System. TNC aims to ensure long-term U.S. energy security by implementing nuclear energy solutions and enhancing existing facilities. The company's founding team comprises veterans within the nuclear and energy infrastructure sectors, including those behind the launch of Vogtle's Units 3 and 4.

For more information on Brookfield, please visit www.brookfield.com.