Davis-Besse Nuclear Power Station Begins Refueling Outage

AKRON, Ohio, March 8, 2022 /PRNewswire/ -- Energy Harbor Corp. announced today its Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, was taken offline at 12:16 a.m. on Saturday, March 5, for regularly scheduled refueling and preventive maintenance.

While the unit is offline, about a third of the unit's 177 fuel assemblies will be replaced. Preventive maintenance and safety inspections to ensure continued safe and reliable operations also will be performed on major components including various pumps, valves, reactor vessel, steam generators, and turbine generator. In total, more than 10,000 work activities representing well over 100,000 hours of work will be completed during the refueling outage.

Approximately 1,000 temporary contractor workers, specialized vendors and Energy Harbor employees will supplement more than 575 Davis-Besse employees during the outage. The additional workforce will provide a multi-million-dollar boost to the local economy as workers stay in area hotels, eat in local restaurants and frequent area stores.

Also during this outage, work will be performed to support the Department of Energy (DOE) funded zero-carbon hydrogen production demonstration project at Davis-Besse in collaboration with Idaho National Laboratory (INL), Xcel Energy, and Arizona Public Service.

The demonstration project is expected to be operational in 2024 and will demonstrate the technical feasibility of a hybrid hydrogen production system in order to facilitate large scale commercialization.  Energy Harbor's Executive Vice President, Chief Operating Officer and Chief Nuclear Officer, David Hamilton said, "We are committed to working alongside the DOE and INL to demonstrate nuclear's ability to provide clean, carbon free hydrogen to the manufacturing and transportation sectors.  Zero carbon hydrogen is an important component of the clean energy transition currently underway, and we look forward to our role as an early leader in nuclear hydrogen production."  

The 908-megawatt Davis-Besse Nuclear Power Station has operated safely and reliably, generating more than 13 million megawatt hours of electricity since the completion of its last refueling in March of 2020.

Energy Harbor is a premier carbon free power producer and fully integrated retail energy provider. We operate the second largest non-regulated nuclear fleet in the country capable of powering more than 3.5 million homes and businesses annually.

We are a highly reliable provider of carbon free baseload electricity committed to Environmental, Sustainability and Governance (ESG) principles critical to meeting the nation's emissions goals and accelerating the country's clean energy transition.

Our success is driven by our unwavering employee commitment to safe, reliable operations, financial stability and best in class service to meet our customer energy and sustainability needs.

For more information on Energy Harbor visit www.energyharbor.com

Forward Looking Statements and Further Information

This press release contains "forward-looking statements."  All statements, other than statements of historical facts, that are included in this press release that address activities, events, or developments that Energy Harbor Corp. (the "Company") expects or anticipates to occur in the future (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "are expected to," "could" and "will continue"), are forward-looking statements.  Although the Company believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under "Risk Factors" available on the Investor Website (as described below) and the following important factors, among others, that could cause the Company's actual results to differ materially from those projected in such forward-looking statements: the actions and decisions of regulatory authorities; economic conditions and power pricing within the Company's territories and markets; the Company's ability to accomplish or realize anticipated benefits from strategic and financial goals; the uncertainties associated with the deactivation of remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including with respect to the timing and amounts of the capital expenditures that may arise in connection with any such proceedings; changes in customers' demand for power; and weather conditions affecting future sales, margins and operations.

Any forward-looking statement included in this press release speaks only as of the date hereof, and except as may be required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.  New factors emerge from time to time, and it is not possible for the Company to predict all of them; nor can the Company assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.  As such, you should not unduly rely on such forward-looking statements.

Further information regarding the Company will be available at www.energyharbor.com under the heading www.energyharbor.com/ir (the "Investor Website"). The Company advises that holders of the Company's securities should review all available information before making any decisions whether to buy or sell any of the Company's securities.  Any information in any materials posted on the Investor Website in the future will automatically update and, where applicable, modify or supersede the information contained in this press release and any other information previously posted on the Investor Website.

SOURCE Energy Harbor