Paragon Energy Solutions Paragon Energy Solutions and NuScale Power Sign Patent License Agreement
Fort Worth, TX – July 12, 2022 – Paragon Energy Solutions, a company focused on providing safety-related parts and components to the nuclear industry, has signed a patent license agreement with NuScale Power. The agreement will enable the widespread use of the advanced Highly Integrated Protection System (HIPS) platform, a protection system architecture jointly developed by NuScale Power and Rock Creek Innovations, a company acquired by Paragon in December 2021.
With the signing of this license agreement, the broader nuclear industry will now have the opportunity to implement the Nuclear Regulatory Commission-approved HIPS platform within their existing plants or alongside their developing technologies. The HIPS platform was developed to enable those in the nuclear industry to meet global decarbonization goals via an efficient, cost-effective, and cyber-resistant I&C protection system solution.
Doug VanTassell, President and CEO of Paragon, shared that “HIPS performs with robust, analog-like reliability while providing essential diagnostics for plants to reduce O&M costs. The HIPS technology is a game-changer for nuclear power plant operators who are looking for safety-related systems that work for multiple decades without major upgrades.”
“The nuclear community shares a common goal of delivering carbon-free and reliable power to our respective customers and ensuring the highest level of safety,” said John Hopkins, NuScale President and Chief Executive Officer. “NuScale and Paragon are thrilled to offer our sophisticated HIPS technology to help our industry advance into a clean energy future.”
About Paragon Energy Solutions
For more than 30 years, Paragon has provided an unmatched level of commitment to tackling the nuclear industry’s most difficult challenges. Dedicated to quality, safety, reliability, and carbon-free energy, the company delivers premium products to nuclear energy facilities with proven reductions in direct costs, parts inventory, improved process efficiency, and obsolescence solutions. www.paragones.com or (865) 966-5330. Follow Paragon on LinkedIn or Twitter.
About NuScale Power
NuScale Power Corporation (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.
Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power’s website or follow on Twitter, Facebook, LinkedIn, and Instagram.
Download the press release here.