Philippine delegation during their meeting with Antonio Habana, President of Equinet Architectural and Engineering Support, Dr. Francesco Venneri, CEO and Board Director of USNC, and Waqar Zaide, Senior Vice President, Commercial and Structured Financing for Microreactor Deployment of USNC

WASHINGTON D.C.– On April 11, the Philippine delegation, led by President Ferdinand R. Marcos Jr. and Department of Trade and Industry (DTI) Secretary Fred Pascual, welcomed a strategic investment by Ultra Safe Nuclear Corporation (USNC), in developing Micro Modular Reactors (MMR) for the Philippines.

USNC, a global leader in nuclear technologies and services on Earth and in space, is a vertical integrator with major initiatives including the Micro Modular Reactor (MMR®), Fully Ceramic Micro-encapsulated (FCM®) nuclear fuel, and nuclear power and propulsion technologies for space exploration. Their MMR technology represents a 4th-generation nuclear energy system that delivers safe, zero-carbon, cost-effective electricity and heat to utilities, industries, and remote communities.

Secretary Pascual highlighted the critical role of the energy sector in bridging value chain gaps and enhancing value-added activities within the country, stating, “As we aim to enhance our industrial development strategy, having sufficient, stable, and secure energy is vital for supporting strategic industries we plan to establish in the Philippines.”

Meanwhile, the USNC provided updates on their engagements with Philippine partners and the outcomes of their Pre-Feasibility Study with MERALCO.

Philippine delegation during the meeting with USNC

Acknowledging the potential of MMRs to enhance sustainable development and energy security in the Philippines, President Marcos Jr. and Secretary Pascual expressed full support for USNC’s keen interest in the country. This meeting continues the dialogue initiated at Blair House on May 2, 2023, and builds on Ultra Safe’s participation in the recent U.S. Presidential Trade and Investment Mission on March 11, 2024. ♦

Date of release: 12 April 2024