#United States #South Carolina #Brookfield #The Nuclear Company #Westinghouse

Brookfield and The Nuclear Company: A New Era for Nuclear Energy in the US

Brookfield, a leading global investment firm, has recently partnered with The Nuclear Company (TNC) to establish a new entity focused on expediting nuclear energy development across the United States. This strategic collaboration aims to harness the combined strengths of Brookfield’s extensive asset management capabilities in energy infrastructure with TNC's specialized expertise in nuclear project execution.

The newly formed company intends to concentrate on the development of Westinghouse reactor technologies, particularly the AP1000 and AP300 models. By offering comprehensive project management services that include project execution based on the aforementioned reactor technologies, licensing assistance, and oversight of engineering, procurement, construction, and commissioning processes, the company is set to carve a niche in the nuclear sector. Brookfield and TNC are optimistic that they will soon finalize key documentation, pending standard approvals and conditions.

One of the venture's first major undertakings will be serving as the project manager for the partially constructed AP1000 units near Jenkinsville, South Carolina. Known formally as nuclear units 2 and 3 at the V.C. Summer facility, this project is hailed as one of the most promising opportunities for nuclear energy development in the U.S. The support of Santee Cooper, South Carolina's state-owned energy company, further underscores the significance of this project.

Following the final investment decision, the newly established company will also support in-depth due diligence activities for the project, ensuring its successful execution. The development will depend on further assessments, regulatory approval, and the finalization of contracts.

Wyatt Hartley, a managing partner at Brookfield, remarked, “This joint venture embodies Brookfield's disciplined approach to substantial infrastructure investments and its commitment to partnerships with seasoned operators. We believe that by combining our global infrastructure development capabilities with TNC's nuclear project execution expertise, this platform can accelerate the revival of the U.S. nuclear industry and capitalize on the existing momentum stemming from Westinghouse’s partnership with the U.S. government.”

Joe Klecha, TNC’s Director of Nuclear Energy, added, “Our team has a rich background from the Vogtle construction site and the realization of some of the most complex energy projects worldwide. We understand what it takes to deliver nuclear projects. However, there has been a gap until now—a model that unites the people, capabilities, and capital necessary for their swift and extensive implementation. This partnership bridges that gap.”

About Brookfield

Brookfield is a premier global investment firm managing over $1 trillion in assets. It owns and operates real assets and businesses that provide essential services forming the backbone of the global economy. Investing on behalf of institutions and individuals worldwide, Brookfield focuses on infrastructure, renewable energy, energy transition, private equity, real estate, and credit, which are key sectors for fostering economic growth and productivity.

With over a century of experience and operations in more than 30 countries, Brookfield utilizes patient capital to build foundational assets and businesses that propel a connected, resilient, and sustainable future, aiming to create long-term wealth for clients while delivering strong risk-adjusted returns for shareholders.

Brookfield Corporation (stock symbol BN) and Brookfield Asset Management (stock symbol BAM) are registered on the NYSE and TSX.

For further details, please visit www.brookfield.com.

About The Nuclear Company

The Nuclear Company is pioneering the modernization of nuclear power plant construction through its “design it once, build it many times” approach, supported by its proprietary Nuclear Operating System (NOS) – an AI-based platform that transforms the construction of reactors across all technologies into a data-driven and predictable process. Founded by veterans of the nuclear energy and infrastructure sectors, including the team that brought online units 3 and 4 at Vogtle, TNC utilizes nuclear energy to provide services to existing facilities, aiming to ensure America’s long-term energy security.