Exelon Generation, JAPC Establish Joint Venture to Enhance Nuclear Operational Excellence Worldwide

Exelon Generation, the largest nuclear operator in the United States, is partnering with the Japan Atomic Power Company (JAPC) to establish a joint venture company, JExel Nuclear, to leverage Exelon’s expertise in operational excellence and safety among international operators using Japanese reactor technologies.

The joint venture company will license and deploy the Exelon Nuclear Management Model (ENMM) in major nuclear power projects around the world. The first client for the joint venture is Horizon Nuclear Power, a Hitachi-owned company in the UK currently developing two advanced nuclear reactors at the Wylfa Newydd site in Wales.

“The Exelon Nuclear Management Model is widely regarded as the gold standard for world-class nuclear power operations,” said Chris Crane, president and CEO, Exelon. “This joint venture is a significant business development opportunity to license our nuclear operations expertise internationally alongside JAPC, which has been in operation for more than half a century. Together we will help other nuclear developers and operators around the globe create a new generation of even safer, more reliable and more efficient nuclear power plants.”

“JAPC has experience successfully operating multiple reactors in Japan built by British, American, and Japanese vendors as well as experience designing the ABWR,” said Mamoru Muramatsu, JAPC President. “We will make an excellent team with Exelon to best support our customers.”

JExel Nuclear will provide advisory, operating and maintenance management services to nuclear power plant developers and operators around the world utilizing Japanese reactor technologies. The new company will provide full implementation of the ENMM or work with project owners to customize the model to their requirements. JExel Nuclear is jointly controlled (50 percent by each company) with two board members each and experts seconded as needed. The four directors for JExel Nuclear will be: Takahiko Hida, Managing Director of JAPC; Toshihiro Komeno, General Manager of JAPC; Mike Pacilio, executive vice president and COO of Exelon Generation; and Ralph Hunter, vice president of Exelon Generation and COO of Exelon Nuclear Partners. Takahiko Hida will serve as the CEO.

About JAPC

The Japan Atomic Power Company (JAPC) was established in November 1957 as a power company solely engaged in nuclear energy in Japan. Since then, the company has continued to play a leading role in the electric power industry as a pioneer in nuclear power generation through various projects, including the construction of the first commercial nuclear power plant in Japan and the construction, operation and decommissioning of power plants. JAPC owns Tokai Power Station (GCR), which is currently under decommissioning, Tokai No.2 Power Station (BWR) and Tsuruga Power Station, which has Unit1 (BWR) and Unit2 (PWR). Also, Advanced-PWRs are currently under construction in its Tsuruga site.

Exelon Generation, a subsidiary of Exelon Corporation (NYSE: EXC), is one of the largest, most efficient clean energy producers in the U.S., with a generating capacity of more than 33,300 megawatts. Exelon Generation operates the largest U.S. fleet of carbon-free nuclear plants with 20,200 megawatts of capacity from 23 reactors at 14 facilities in Illinois, Maryland, New Jersey, New York and Pennsylvania. Exelon Generation also operates a diverse mix of wind, solar, landfill gas, hydroelectric, natural gas and oil facilities in 16 states with more than 13,100 megawatts. Exelon Generation has an industry-leading safety record and is an active partner and economic engine in the communities it serves by providing jobs, charitable contributions and tax payments that help towns and regions grow. Follow Exelon Generation on Twitter @ExelonGen and @ExelonNuclear, view the Exelon Generation channel on YouTube, and visit: http://www.exeloncorp.com/companies/exelon-generation.

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Exelon Generation CommunicationsDavid Tillman, [e-mail]