NuScale Power Corporation - SMR STOCK NEWS

NuScale Power (NYSE: SMR) has announced that board member Alan Boeckmann will become Non-Executive Chairman of the Board of Directors on January 15, 2025. Boeckmann, who has served on the board since December 3, 2020, will replace current chairman Jim Hackett.

Hackett, who has been named Lead Independent Director at Fluor , will depart NuScale's board to avoid being over-boarded at both companies. The transition is expected to maintain strong ties between NuScale and Fluor, its original sponsor and largest shareholder, given Boeckmann's previous experience as CEO and Chairman at Fluor

NuScale Power (NYSE: SMR) has appointed Diana J. Walters to its Board of Directors, effective December 20, 2024, expanding the board to 10 directors, with six being independent. Walters brings over 35 years of leadership experience in the natural resources sector, having served as President of Liberty Metals and Mining , CFO of Tatham Offshore, Inc., and held various roles in investment banking and capital markets. She currently serves on multiple boards, including Atmos Energy and Trilogy Metals Inc., and is Chair at Platinum Group Metals She also serves as a Senior Advisor at Independence Point Advisors.

NuScale Power (NYSE: SMR) has announced the completion of its warrant redemption program. Approximately 97% of outstanding warrants were exercised by holders to purchase Class A Common Stock at $11.50 per share. This resulted in the issuance of 19,800,548 shares of Common Stock, generating $227.7 million in cash proceeds for the company. All remaining unexercised warrants as of December 19, 2024, were redeemed at $0.01 per warrant. Following this redemption, no warrants remain outstanding, and they have ceased trading on the NYSE.

NuScale Power (NYSE: SMR) announced the opening of its latest Energy Exploration (E2) Center at The Ohio State University in Columbus. The center, co-funded by the university's Department of Mechanical and Aerospace Engineering and a U.S. Department of Energy grant, features a 12-module SMR power plant control room simulator for hands-on nuclear training.

The E2 Center provides real-world nuclear power plant operation scenarios through state-of-the-art computer modeling, allowing users to experience control room operations firsthand. The facility will also serve as an educational hub for community outreach, offering demonstrations and tours to local leaders, K-12 students, and the public.

This marks NuScale's sixth E2 Center globally, with other locations at Oregon State University, Texas A&M University, Idaho State University, University Politechnica in Romania, and Seoul National University in South Korea.

NuScale Power (NYSE: SMR) has announced the redemption of all outstanding warrants to purchase shares of its Class A Common Stock. The redemption will occur on December 19, 2024, at a price of $0.01 per warrant. Warrant holders can exercise their warrants until the redemption date by paying the $11.50 per warrant exercise price to receive common stock. The redemption follows the satisfaction of stock sales price conditions, requiring the stock to exceed $18.00 per share across 20 trading days within a 30-day period, which was met on November 14, 2024. Any unexercised warrants will be void after the redemption date.

NuScale Power (NYSE: SMR), a leader in advanced small modular reactor nuclear technology, announced its participation in several upcoming investor conferences. The schedule includes: NYSE Industrials Conference (Nov 19), Jefferies New Nuclear Conference (Nov 21), UBS Global Technology and AI Conference (Dec 3), Bank of America Clean Energy Symposium (Dec 5), Wolfe Research Small and Mid-Cap Conference (Dec 5), Craig-Hallum Nuclear Energy Revisited Conference (Dec 11), and Goldman Sachs Energy, CleanTech & Utilities Conference (Jan 7, 2025). Attendance is invitation-only for clients of each firm.

NuScale Power (NYSE: SMR) reported its Q3 2024 financial results, highlighting progress in its small modular reactor (SMR) technology development. The company ended Q3 with $161.7 million in cash and equivalents, reporting revenue of $0.5 million and a net loss of $45.5 million. Operating expenses decreased to $41.2 million from $93.9 million year-over-year. Key developments include advancing Fluor's FEED Phase 2 study for the RoPower Doicești SMR plant in Romania and progress in module production with Doosan Enerbility. The company noted increased interest from technology companies seeking clean energy solutions for AI and data centers.

NuScale Power (NYSE: SMR), a leader in advanced small modular reactor nuclear technology, has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled for Thursday, November 7, 2024, at 5:00 p.m. ET. Financial results will be released after market close on the same day.

Interested parties can access the conference call by dialing (888) 550-5460 with conference ID 4347254 or by visiting the Events & Presentations page on NuScale's website. A replay of the webcast will be available for 30 days following the call.

NuScale Power (NYSE: SMR) reported its Q2 2024 results, highlighting accelerated business development, particularly in the data center/AI sector. Key developments include:

1. RoPower's authorization of Phase 2 Front-End Engineering and Design (FEED) for the Doicesti SMR power plant.
2. Advancement in manufacturing preparedness with Doosan Enerbility forging long lead materials.
3. Standard Design Approval application under review by the U.S. NRC, on track for mid-2025 completion.

Financial highlights:
- Cash and equivalents: $136.0 million
- Revenue: $1.0 million
- Net loss: $74.4 million, including $36.7 million non-cash expense related to warrant valuation
- Operating loss: $41.9 million, down from $56.1 million in Q2 2023