Expanded Use of Nuclear Energy Will Advance U.S. Energy Security,Technology Leadership and Exports: GE Hitachi Nuclear Energy Ch

WASHINGTON—December 7, 2010—Nuclear power is a great export opportunity for America, but U.S.reactor suppliers like GE Hitachi Nuclear Energy (GEH) face unique hurdles in the global marketplacebecause they compete with companies owned or supported by foreign governments, according toGEH Chairman Jack Fuller. Fuller, a participant in the bipartisan New Millennium Nuclear EnergySummit in Washington, D.C., today, released the following statement about the industry’s futureprospects:

“America invented civilian nuclear technology, and American companies remain at the forefront ofnuclear technology development. GEH, for example, is licensing and investing in advanced nucleartechnologies. GEH is developing even more advanced Generation IV reactor technology, includingsmall modular reactors that can reduce the initial capital costs of a nuclear power plant. GEH also isdeveloping nuclear recycling technology to extract more energy from nuclear fuel and dramaticallyreduce the long-term radioactivity of used fuel—an advanced technology that is smarter, safer, moreefficient and a U.S. innovation.

“America and the world can benefit from advanced U.S. nuclear power technology but only ifgovernment levels the playing field for U.S. companies. A nuclear energy policy partnership, led bySens. George Voinovich, R-Ohio, and Tom Carper, D-Del., will help drive policy decisions that will launchrenewed expansion of nuclear power in the United States and, if done right, the reemergence ofAmerica as a nuclear energy technology export powerhouse. The economic and national securitybenefits of a robust domestic civilian nuclear power industry cannot be overstated. In order for theUnited States to lead the conversation on non-proliferation, it is critical that the domestic nuclearindustry is strong and that it is selling into the countries that are moving forward with new plants. Itbehooves the U.S. government to adopt policies that strengthen the ability of U.S. companies tocompete internationally—and thereby contribute to economic growth and job creation here at home.

“The partnership, which includes experts from Wall Street, also can potentially help create a newfinancing model to support reactor construction. The cost of electricity from nuclear energy is amongthe lowest from any fuel source, but the initial capital investments required are daunting. Loanguarantees and other tools that lower the financial barriers to plant construction are investments inthe future that will yield dividends for decades to come in the form of economical and reliable low-carbonenergy for America’s homes and factories.

“In the global race for energy technology leadership, America is still a leading innovator of nuclearenergy technology, but with other nations modernizing their power infrastructure at a more rapidpace, we need to quicken ours to continue a leadership role. Let’s take stock as we have manyinherent advantages. U.S. prowess in nuclear engineering, technology development and plantmanagement is still the best in the world. The newly elected 112thCongress has a golden opportunityto set America on a new course. With the right policies in place, America can capitalize on heradvantages, build new power plants here in the United States—the surest route to greater U.S. energysecurity—and start exporting high value-added energy technology to the rest of the world. This week’s summit will begin charting a roadmap for renewal in the U.S. power sector. That’s something policymakers in both parties can agree on.”

The New Millennium Nuclear Energy Summit was organized by the Idaho National Laboratory andThird Way, a Washington, D.C., think tank.

About GE Hitachi Nuclear Energy

Based in Wilmington, N.C., GE Hitachi Nuclear Energy (GEH) is a world-leading provider of advancedreactors and nuclear services. Established in June 2007, GEH is a global nuclear alliance created by GEand Hitachi to serve the global nuclear industry. The nuclear alliance executes a single, strategic visionto create a broader portfolio of solutions, expanding its capabilities for new reactor and serviceopportunities. The alliance offers customers around the world the technological leadership required toeffectively enhance reactor performance, power output and safety.

For more information, contact:

Michael Tetuan
GE Hitachi Nuclear Energy
+1 910 819 7055

michael.tetuan@ge.com

Tom Murnane or Howard Masto
Masto Public Relations
+1 518 786 6488

tom.murnane@mastopr.com

howard.masto@ge.com