NuScale Power

The company's principal offering is the NuScale Power Module™ (NPM), an integral pressurized water reactor that combines the reactor vessel, steam generator, and pressurizer into a single, factory-fabricated unit. Each module is designed to produce 77 megawatts of electricity (MWe) and operates using natural circulation, which eliminates the need for large pipes and reactor coolant pumps. NuScale's flagship power plant concept, the VOYGR™, is scalable and can house up to 12 NPMs, offering a total gross output of 924 MWe. This modularity allows for incremental deployment to match energy demand and project economics. A key feature is the plant's passive safety system, where each module can shut down and self-cool indefinitely without operator action or external power, a significant advancement in nuclear safety. The entire NPM is submerged in a water-filled pool below grade within a seismically robust building, providing additional layers of protection.

NuScale's business model revolves around the sale and licensing of its SMR technology to a diverse client base, including utilities, industrial users, and governments seeking reliable, carbon-free energy. Revenue is currently generated primarily from engineering and licensing services. The company targets customers who need power for electrical generation, district heating, desalination, and commercial-scale hydrogen production. Key partners include engineering and construction giant Fluor Corporation, which has been a majority investor since 2011, and manufacturing partners like Doosan Enerbility. In May 2022, NuScale went public on the New York Stock Exchange under the ticker 'SMR' through a merger with a special purpose acquisition company (SPAC), Spring Valley Acquisition Corp., a transaction that valued the company at approximately $1.9 billion. This move provided significant capital to accelerate commercialization. While a planned project with Utah Associated Municipal Power Systems (UAMPS) was terminated in 2023 due to rising costs and insufficient subscriptions, NuScale continues to advance projects with international clients, including RoPower in Romania and has agreements in Poland and Ghana.