WASHINGTON, July 27, 2022 (GLOBE NEWSWIRE) -- Last Energy, which designs, manufactures, and commercializes a new fully modular small nuclear reactor, today announced Mihai Darie as Country Manager, leading its newly formed Romanian subsidiary, Last Energy Romania S.R.L. He will be responsible for overseeing Last Energy’s growing efforts in Romania as the country moves to ramp up nuclear project development.
Darie has more than twenty years of experience in financial leadership, spanning industries including energy, utilities, banking, and infrastructure. Prior to joining Last Energy Romania, he was the Group CFO of Electrica and the CFO of Nuclearelectrica. He brings a depth of experience in the Romanian energy landscape, including the nuclear industry, to lead Last Energy’s efforts in the country.
“Romania is actively working toward an energy future that is more independent, secure and sustainable; nuclear power will undoubtedly play a key role,” said Darie. “What drew me to Last Energy was its efficient, affordable, and practical approach to nuclear power deployment, which will help accelerate the country’s efforts to meet both energy independence and climate goals. I’m excited to join the team to lead our Romanian efforts during an incredibly urgent and critical time for the Romanian, and broader European, energy market. Last Energy’s small modular reactors will be an essential complement to the nuclear sector in Romania.”
Nuclear plants already provide about 20% of Romania’s energy, and the country has ambitious plans to scale, including completing two in-progress nuclear plants and investing in small modular reactors. In partnership with companies like Last Energy, Romania has the potential to become a regional powerhouse to supply reliable, affordable, clean energy to its own communities, and to its European neighbors.
Last Energy’s business model is designed to make nuclear energy more accessible, more affordable, and faster to deploy. The company provides full-cycle nuclear project development for its customers. This includes design, construction, financing, service, and maintenance of installations, fuel supply, waste collection, and decommissioning of the power plant at the end of its operation. The company’s power plant leverages a proven pressurized water reactor design coupled with fully modular manufacturing, a unique approach that dramatically reduces the time and cost of building nuclear power plants to deliver clean baseload energy. Using industry-proven technology and best practices across industries, Last Energy’s development model aims to deliver a power plant within twenty-four months of signing.
“Countries are under immense pressure to become energy independent, quickly and sustainably. Faced with this challenge, it’s encouraging to see countries like Romania understand the true potential of nuclear generation capacity—not just for the nation itself, but for its European neighbors,” said Bret Kugelmass, CEO of Last Energy. “Last Energy is committed to bringing our model of modular nuclear development to Romania to complement the nuclear development underway there. I’m confident in our team, which builds from Romania’s deep expertise in nuclear research and operations.”
About Last Energy
Last Energy is creating a new system for the development and delivery of small modular nuclear power plants. Combining proven reactor technology with a first-of-its-kind delivery model and fully modular plant design, Last Energy aims to decarbonize energy production and increase access to clean, affordable power.
LaunchSquad for Last Energy
