NUSCALE POWER Corp (SMR)

NuScale develops proprietary small modular reactor (SMR) technology intended to deliver safe, scalable, cost-effective and reliable carbon-free power. Its core product is the NuScale Power Module (NPM), a light water reactor that generates 77 MWe and relies on established nuclear principles, with integrated components, simplified systems and passive safety features. The company says more than $1.8 billion has been invested in the technology since 2007, including over $578.3 million from the U.S. Department of Energy. It holds 513 patents globally, with 268 applications pending. In September 2020 its 12-module design became the first SMR to receive a Standard Design Approval (SDA) from the U.S. Nuclear Regulatory Commission (NRC), and in May 2025 the NRC approved a second SDA for the 6-unit 77 MWe design.

The company reports a single segment. It sells NPMs and Nuclear Steam Supply System equipment, and plans a suite of services across a plant's development and operating life, including licensing support, testing, training, fuel supply services and program management. It expects service revenue to begin about five years before a plant's commercial operation date and continue through the plant's life. Each module integrates the reactor core, helical coil steam generators and pressurizer in one factory-built vessel cooled by natural circulation, with no reactor coolant pumps. Plants can be configured with one to twelve modules, typically four (308 MWe), six (462 MWe) or twelve (924 MWe). NuScale highlights passive safety with an unlimited coping period, a site-boundary emergency planning zone methodology approved by the NRC, no need for Class 1E backup power, black-start and island-mode capability, and a control room approved for up to 12 modules with three licensed operators.

Potential customers are domestic and international governments, utilities, state-owned enterprises, and technology and industrial companies seeking carbon-free, reliable power, including for data centers, process heat, desalination and hydrogen production. The company currently works with one customer and one prospective customer. The customer is RoPower Nuclear S.A., a joint venture of Nuclearelectrica and Nova Power & Gas, which is planning a 6-unit 77 MWe plant at the Doicesti Power Station site in Romania. The prospective customer is ENTRA1, NuScale's exclusive global strategic partner for commercializing and developing NPM-based plants, which is in negotiations with the Tennessee Valley Authority to deploy up to six 12-module plants. The company cites growing electricity demand from data centers, electrification and industry, and U.S. policy support for expanding nuclear capacity.

NuScale relies on a global network of supply chain partners, including engineering, procurement and construction firms and nuclear industry experts. Doosan Enerbility Co., Ltd is its manufacturing partner and has received orders for long-lead items for the first twelve NPM upper reactor vessels. Modules are designed for factory fabrication and shipment by rail, truck or barge. The technology was developed over about 18 years with collaborators including Oregon State University and Idaho National Laboratory, and validated through component testing, a one-third scale thermal-hydraulic test facility and a full-scale simulated control room. The company identifies other SMR developers, including water-cooled, fast neutron, high temperature gas and molten salt designs, as alternatives. The text does not state the headquarters location.