ULC-Energy secures cooperation from Constellation

Constellation and ULC-Energy intend to join forces to accelerate the Netherlands’ transition to a clean, affordable, and reliable energy system by deploying a fleet of Rolls-Royce small modular reactors in the Netherlands.

ULC-Energy is a nuclear project development company focused specifically on small

modular reactors. Constellation is the largest producer of carbon-free energy in the U.S. and operates 21 commercial nuclear reactors at 12 nuclear sites. The memorandum of understanding contemplates that ULC-Energy and Constellation will work together in the development of SMRs in the Netherlands . Constellation is a minority shareholder in Rolls-Royce SMR Limited.

Ralph Hunter, President of Constellation Generation Development LLC, said:

“Constellation is committed to a carbon-free future and has for many years supported nuclear developers in the United States and internationally. The Constellation Nuclear Management Model is widely regarded within the industry as a benchmark for world-class nuclear power operations, and we are excited with the opportunity to work with both ULC-Energy and Rolls-Royce SMR to ensure the safe and reliable development and operation of Rolls-Royce SMRs in the Netherlands.”

“Constellation will bring deep operational experience to ULC-Energy allowing ULC-Energy to deliver a complete offering to its stakeholders in the Netherlands. Having worked closely with Constellation, and its predecessor Exelon Generation since 2005, I am confident that our cooperation will be fruitful.” said Dirk Rabelink, Managing Director of ULC-Energy.

About ULC-Energy

ULC-Energy is a nuclear energy development company, established in 2021 and based in Amsterdam. ULC-Energy's mission is to accelerate decarbonisation in the Netherlands by developing nuclear energy projects that efficiently integrate with residential and industrial energy networks. In August 2022, ULC-Energy selected the Rolls-Royce SMR as its nuclear technology solution. More information can be found on www.ulc-energy.com

About Constellation

Constellation (Nasdaq: CEG) is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90 percent carbon-free. Constellation has set a goal to eliminate 100 percent of its greenhouse gas emissions by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation’s largest carbon-free nuclear fleet. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Learn more at www.constellation.com or on Twitter at @ConstellationEG.