SMR

NuScale Power Corp. is a U.S.-based energy technology company operating in the nuclear energy industry, focused on the development of small modular reactors (SMRs). The company develops advanced nuclear technology designed to provide flexible, low-carbon electricity generation.

NuScale’s approach centers on modular nuclear systems that can be deployed individually or combined in multi-unit plants, allowing energy producers to scale capacity according to demand.

Its technology and solutions include:

• Small modular nuclear reactors (SMRs) designed for scalable power generation.
• The NuScale Power Module, a compact reactor system built with passive safety features.
• Integrated energy applications, including electricity generation, hydrogen production and water desalination.
• Advanced nuclear engineering and safety systems designed to simplify plant operations.

The company’s SMR technology incorporates passive safety mechanisms, allowing the reactor to cool without external power or human intervention, which reduces operational complexity and safety risks compared with traditional large-scale nuclear reactors.

NuScale operates primarily in the United States but collaborates with governments, utilities and energy developers in multiple regions. Potential deployment markets include North America, Europe, Asia and the Middle East, where demand for reliable low-carbon power and energy security is increasing.

Industry factors influencing the company include nuclear regulatory approvals, technological development costs, energy policy, decarbonization initiatives and competition with other advanced nuclear and clean-energy technologies.

NuScale maintains engineering teams, research collaborations with national laboratories and partnerships with industrial manufacturers responsible for producing reactor components and infrastructure.

NuScale Power Corp. trades on the New York Stock Exchange (NYSE) under the ticker SMR.

History and Development

NuScale Power Corp. was founded in 2007 in the United States, building on research conducted at Oregon State University in the early 2000s with support from the U.S. Department of Energy (DOE).

In its early years, the company focused on developing its small modular reactor design and validating its passive safety systems through engineering studies and regulatory preparation.

A key milestone occurred in 2011, when Fluor Corporation became a major investor and strategic partner, providing financial backing and engineering support to accelerate development.

In 2020, NuScale achieved a significant industry milestone when its reactor design received design approval from the U.S. Nuclear Regulatory Commission (NRC), marking the first time an SMR design had been certified by the agency.

Since then, the company has continued advancing its engineering programs, expanding international partnerships and working with utilities and governments to support the future deployment of modular nuclear power plants.