Last Energy has signed an agreement with the Lignica Special Economic Zone (LSSE) to expand nuclear power in Poland. The company is engaged in the design, manufacture and commercialization of new fully modular small nuclear reactors (SMRS) and plans to develop 10 small modular reactors at LSSE to facilitate the booming industrial activity in the region.
The agreement between Last Energy Corporation and LSSE marks a significant step toward widespread SMR deployment, representing an investment of more than $1 billion and power sales of more than $5 billion. LSSE is a centre 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 more than 16,000 jobs. The 10 power plants will provide 200 megawatts of capacity to the region, providing stable, economical and emission-free energy to companies in the SEZ.
This agreement marks Last Energy's continued momentum in the region. In June, during the 590 Congress, Last Energy announced an agreement with Enea Group, a leader in the Polish electricity industry, to seek to develop Last Energy's SMR in Poland and expand access to clean, affordable electricity. At that event, Last Energy met with Polish President Andrzej Duda, and the two agreed on the contribution of nuclear power to Poland's Energy and climate goals.
Last Energy's business model is designed to make nuclear power more accessible, affordable, and faster to deploy. To this end, the company provides its clients with full cycle nuclear project development, including design, construction, financing, servicing and decommissioning. The company's power plants utilize a proven pressurized water reactor and a fully modular plant design, a unique approach that significantly reduces the time and cost of building a nuclear power plant while providing clean base-charge energy.
SMR has great potential to help the Polish energy sector achieve its energy reliability and security goals. With high energy prices, limited access to fossil fuels and limited electricity supply in the electricity network, these goals will only become more urgent. Last Energy's reactors will provide clean, reliable base charge power to fuel LSSE's industrial sector. To develop this infrastructure, Last Energy will also partner with DB Energy, a leading Energy services company. Together, the two companies will offer customers a comprehensive range of products to achieve zero emissions and enhance energy security.
About the 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 a fully modular plant design, Last Energy aims to decarbonize Energy production and increase access to clean, affordable electricity.