Ciech S A : and ORLEN Synthos Green Energy with an agreement regarding the analysis of the feasibility of implementing the SMR construction project

CIECH and ORLEN Synthos Green Energy with an agreement regarding the analysis of the feasibility of implementing the SMR construction project

26/10/2023

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CIECH S.A. and ORLEN Synthos Green Energy have signed an agreement regarding the verification of the feasibility of implementing a modular nuclear power plant construction project. The purpose of the agreement is to establish the principles of cooperation in verifying variables related to the development of SMR in BWRX-300 reactor technology.

The agreement assumes confirmation of the ability to place SMRs in selected locations at the CIECH Group's production plants, the terms of cooperation during the preparation and implementation of a potential investment, and the development of the target business model of cooperation if the decision to implement the investment is ultimately made.

If the results of the analyses are favorable for the parties, the next step may involve discussions regarding cooperation, which may result in the signing of an agreement between both entities concerning the further implementation of the SMR construction project. The intention of the parties to the agreement is to conclude it by June 30, 2024.

ORLEN Synthos Green Energy, cooperating with GE-Hitachi Nuclear Energy Americas LLC - as the sole entity - has exclusive rights to the BWRX-300 technology. Its application can ensure the satisfaction of needs in terms of electricity and industrial and communal heat supply.

The potential cooperation aligns with the award-winning ESG strategy implemented by the CIECH Group - a set of activities undertaken from the perspective of its impact on the environment, societal concerns, and the highest corporate governance standards. In the commitments for climate and environment contained in the strategy, CIECH assumes, among others: achieving the Group's climate neutrality (net zero) by 2040. The goals of the ESG strategy are also in line with the principles of the "2030 Agenda for Sustainable Development" prepared by the United Nations. More information about ESG strategy can be found at www.esgciech.com

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Żaneta Przybylska, CIECH Group's PR Department

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CIECH is an international developing chemical group with a strong position on global markets. It is the second largest manufacturer of sodium carbonate and sodium bicarbonate in the European Union, the largest manufacturer of evaporated salt in Poland, the largest supplier of sodium silicates in Europe, the largest Polish manufacturer of plant protection products, and a leading producer of polyurethane foams in Poland. Its factories are located in Poland, Germany and Romania, and it employs over 3,000 people throughout the EU.

Since 2005, CIECH S.A. has been listed on the Warsaw Stock Exchange, and since 2016, simultaneously, on one of the largest stock exchanges in Europe - Börse Frankfurt. The development of the Group is supported by its strategic investor - Kulczyk Investments.

As one of the largest Polish exporters, CIECH ships its goods to almost each continent. They are used to manufacture products necessary in the everyday life of millions of people around the world. That is why the Group is a crucial element of numerous sectors of the economy - construction, automotive, agriculture, chemical, food and pharmaceutical industries.

CIECH combines a modern business approach and care for sustainable development. Since 2020, it has been a member of the United Nations Global Compact - the world's largest initiative that brings together socially, environmentally, and economically responsible businesses.

More information about the CIECH Group can be found at www.ciechgroup.com.