Standard Power announced its plans to develop two small modular reactor (SMR)-powered facilities that will together produce nearly 2GW of clean, carbon free energy and has chosen to work with technology provider NuScale Power Corporation (NuScale), the only technology provider and producer of SMRs that has obtained U.S. regulatory approval, and ENTRA1 Energy (ENTRA1), an independent global energy development and production company, to support Standard Power's two projects. In 2022, NuScale formed an exclusive global partnership with ENTRA1 Energy to commercialize the NuScale SMR Technology. Through this partnership, ENTRA1 Energy has the rights to develop, manage, own and operate energy production plants powered by NuScale's approved SMR technology.

The innovative yet simple design of NuScale's SMR technology provides a cost-competitive, safe and scalable solution for a wide range of energy needs - including power generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications. These forward-looking statements include statements relating to strategic and operational plans, capital deployment, future growth, new awards, backlog, earnings and the outlook for the company's business. Actual results may differ materially as a result of a number of factors, including, among other things, the severity and duration of the COVID-19 pandemic and actions by governments, businesses and individuals in response to the pandemic, including the duration and severity of economic disruptions; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; intense competition in the industries in which the company operate; failure of partners to perform their obligations; cyber-security breaches; foreign economic and political uncertainties; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of control, including weather conditions, pandemics, public health crises, political crises or other catastrophic events; the use of estimates and assumptions in preparing the financial statements; client delays or defaults in making payments; the failure of suppliers, subcontractors and other third parties to adequately perform services under contracts; uncertainties, restrictions and regulations impacting government contracts; the inability to hire and retain qualified personnel; the potential impact of certain tax matters; possible information technology interruptions; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; damage to reputation; failure to adequately protect intellectual property rights; asset impairments; climate change and related environmental issues; increasing scrutiny with respect to sustainability practices; the availability of credit and restrictions imposed by credit facilities for clients, suppliers, subcontractors or other partners; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceeds or claims, including claims for additional costs; failure by or employees, agents or partners to comply with laws; new or new or or other partners.