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NuScale Power Bolsters Legal Team: Centrus Energy's Top Lawyer Takes on CLO Role

Introduction:

The innovative small modular reactor (SMR) company, NuScale Power, continues to make significant strides in the advanced nuclear energy sector. In a strategic move that underscores its commitment to legal compliance and robust corporate governance, NuScale recently announced the appointment of a seasoned legal professional. The company has tapped Lisa Borgstrom, formerly the Chief Legal Officer (CLO) of Centrus Energy Corp., a leading uranium enrichment services provider, as its new Chief Legal Officer. This appointment signals a crucial step forward for NuScale as it navigates the complex regulatory landscape of nuclear power development and deployment in the United States and globally. This news is significant for investors, regulators, and the broader advanced nuclear energy community, highlighting the growing maturity of the SMR sector.

Lisa Borgstrom: A Proven Leader in the Nuclear Industry

Borgstrom brings a wealth of experience in the nuclear industry, having served as the CLO of Centrus Energy for several years. Her tenure at Centrus provided her with extensive experience in navigating the intricate regulatory requirements associated with nuclear materials, international trade, and nuclear security. This expertise is highly relevant to NuScale's ambitions as it moves closer to commercial deployment of its groundbreaking SMR technology. The appointment demonstrates NuScale’s focus on recruiting high-caliber individuals with a deep understanding of the nuclear sector's specific legal and regulatory challenges.

NuScale Power's Expanding Footprint and Legal Needs:

NuScale Power's innovative small modular reactor (SMR) technology is poised to revolutionize the nuclear energy landscape. These advanced reactors offer numerous advantages, including enhanced safety features, improved efficiency, and reduced construction costs compared to traditional large-scale reactors. As NuScale progresses towards commercial operation of its first SMR power plant, the regulatory scrutiny and legal complexities intensify. This includes:

• Nuclear Regulatory Commission (NRC) approvals: Navigating the stringent licensing and regulatory approval processes of the NRC is paramount. Borgstrom's experience will be invaluable in this crucial area.
• International partnerships and collaborations: NuScale is actively engaging in international collaborations to export its SMR technology. Managing the legal and contractual aspects of these partnerships requires a sophisticated understanding of international law and regulatory frameworks.
• Supply chain management: The complex supply chain involved in SMR construction and operation necessitates careful legal oversight to ensure compliance with various regulations and contractual obligations.
• Intellectual property protection: NuScale's innovative technology requires robust intellectual property (IP) protection, both domestically and internationally.

The Significance of the Appointment:

The appointment of Borgstrom as CLO reflects NuScale's dedication to building a strong, compliant, and ethically sound organization. It signifies several key things for the company and the broader nuclear industry:

• Maturity of the SMR sector: The recruitment of high-profile legal talent emphasizes the increasing maturity and credibility of the SMR sector. This attracts further investment and underscores the technology's growing potential.
• Enhanced regulatory compliance: With the added expertise, NuScale can confidently navigate the regulatory processes associated with deploying advanced nuclear reactors, ensuring adherence to all relevant legal requirements and minimizing potential delays.
• Strong corporate governance: The appointment strengthens NuScale's corporate governance structure, enhancing investor confidence and facilitating the company's growth.
• Attracting talent: The hiring of a highly respected legal professional serves as a beacon, attracting other top-tier talent to NuScale, further bolstering its team.

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Conclusion:

NuScale Power's appointment of Lisa Borgstrom as its new CLO marks a significant milestone in the company's journey towards commercializing its innovative SMR technology. Borgstrom's extensive experience in the nuclear industry will be instrumental in navigating the regulatory landscape and ensuring the company's continued success. This strategic move underscores the growing importance of strong legal expertise within the evolving nuclear energy sector and positions NuScale for a period of sustained growth and expansion. The appointment reflects the maturing SMR market and the growing confidence in NuScale’s technology and its potential to contribute significantly to a cleaner energy future. The coming years will be critical for NuScale, and with Borgstrom onboard, the company appears well-equipped to meet the challenges ahead.