WASHINGTON, July 29, 2022 (GLOBE NEWSWIRE) -- Last Energy, which designs, manufactures, and commercializes a new fully modular small nuclear reactor (SMR), today announced an agreement with the Legnica Special Economic Zone (LSSE) to scale nuclear energy in Poland. Last Energy will develop 10 small modular reactors in the LSSE to fuel booming industrial activity in the region.
The agreement between Last Energy and LSSE marks a significant step toward widespread SMR deployment, representing over one billion dollars in investment and more than five billion dollars worth of electricity sales. LSSE is a hub of industrial activity located in one of the fastest growing regions of Poland. The special economic zone is home to more than 75 companies and over 16,000 jobs. The 10 power plants will deliver 200MW of capacity to the region, providing stable, cost-effective and emission-free energy to companies in the special economic zone.
This agreement marks continued momentum in the region from Last Energy. In June, during the 590 Congress, Last Energy announced an agreement with Enea Group, a leader in the Polish power industry, to pursue the development of Last Energy’s SMRs in Poland and expand access to clean, affordable power. At that event, Last Energy met with Polish President, Andrzej Duda, as the two aligned on the contribution of nuclear to Poland’s energy and climate goals.
“Poland is one of the first countries where Last Energy plans to implement our SMR technology,” said Damian Jamroz, General Manager of Last Energy Polska. “We’re glad that the Legnica Special Economic Zone has expressed its interest in locating one of the planned investments in their area, as well as the intention to sign a long-term contract for the energy produced. Now, we will begin the process of identifying potential locations. Our goal is to support the process of decarbonising the Polish economy, as well as ensuring energy security for Polish industry and society.”
Last Energy’s business model is designed to make nuclear energy more accessible, more affordable and faster to deploy. To do this, the company provides full-cycle nuclear project development for its customers, including design, construction, financing, service, and decommissioning. The company’s power plant leverages a proven pressurized water reactor and fully modular plant design, a unique approach that dramatically reduces the time and cost of building nuclear power plants while delivering clean baseload energy.
“There is a lot of talk about global problems with the lack of energy,” said Przemysław Bożek, President of the Legnica Special Economic Zone. “Potential investors are increasingly faced with a lack of availability of energy and gas in the quantities they need. This project would allow for a safe, stable and emission-free source of energy for factories located in the Zone. We are taking another step not only towards green energy, but also to strengthen energy security.”
SMRs hold enormous potential to help the Polish energy sector meet its energy reliability and security goals. These goals have only grown more urgent amid high energy prices, limited access to fossil fuels and limited availability of power in the electricity network. Last Energy’s reactors will provide clean, reliable baseload power to fuel the industrial sector in the LSSE. To develop this infrastructure, Last Energy will also partner with DB Energy, a leading energy services company. Together, the two companies will provide customers with a comprehensive product to achieve zero emissions and strengthen energy security.
“Globally, we’re facing an urgent need to increase energy security without derailing our climate progress,” said Bret Kugelmass, founder and CEO of Last Energy. “Nuclear energy offers countries a powerful strategy to achieve both. Today’s agreement is a critical step toward bringing stable, reliable and cost-competitive energy to Poland, and establishing a much-needed model for how energy security and climate goals can align for the industrial sector.”
About Last Energy
Last Energy is creating a new system for the development and delivery of small modular nuclear power plants. Combining proven reactor technology with a first-of-its-kind delivery model and fully modular plant design, Last Energy aims to decarbonize energy production and increase access to clean, affordable power.
media@lastenergy.com
