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NuScale Power Corporation - SMR STOCK NEWS

Welcome to our dedicated page for NuScale Power Corporation news (Ticker: SMR), a resource for investors and traders seeking the latest updates and insights on NuScale Power Corporation stock.

NuScale Power Corporation (NYSE: SMR) is at the forefront of developing innovative nuclear power solutions. The company specializes in creating small modular reactors (SMRs), which are designed to provide sustainable, carbon-free energy for various applications including electrical generation, district heating, desalination, and hydrogen production. NuScale's groundbreaking design has recently achieved a major milestone by becoming the first SMR to receive approval from the U.S. Nuclear Regulatory Commission (NRC).

Utilizing advanced simulation solutions from Ansys, NuScale has engineered a fully passive safety system for its reactors. This innovative system allows the reactor to safely shut down and self-cool without requiring operator intervention, external power, or additional water—addressing many of the safety challenges historically associated with nuclear power.

The company's SMR technology is poised for deployment in both the U.S. and Europe by the end of the decade. This technology not only supports traditional energy generation but also enables green hydrogen production—contributing to cleaner energy solutions globally.

NuScale's SMR is designed with stringent structural integrity and safety standards, relying on rigorous simulations and high-quality assurance. These efforts ensure the technology meets NRC requirements, making it a significant advancement in the nuclear energy sector. The company is committed to revolutionizing the energy industry with solutions that are smarter, cleaner, safer, and cost-competitive.

With continuous innovation and strategic partnerships, NuScale Power Corporation is set to redefine the landscape of nuclear energy and contribute to a more sustainable future.

News

NuScale Power to Hold Fourth Quarter and Full Year 2023 Earnings Conference Call on March 14, 2024

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NuScale Power Corporation (NYSE: SMR) will host a conference call to review Q4 and full year 2023 results. Financial results will be released after market close on March 14, 2024. NuScale's financial reporting is overseen by the new principal accounting officer, Jackie Engel.
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NuScale Power Positions Company for Next Phase of Growth

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NuScale Power Corporation (NYSE: SMR) announces strategic actions to reduce costs and refocus resources on key strategic areas, projecting $50-60 million in annualized savings and a workforce reduction of 154 full-time employees. The company aims to transition from R&D to commercialization, advance revenue-generating projects, secure new orders, and position itself for long-term success.
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NuScale Appoints Fluor’s Jim Breuer to Board of Directors

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NuScale Power Corporation (SMR) announced the appointment of Jim Breuer to its Board of Directors, replacing Christopher Panichi. Breuer, President of Fluor’s Energy Solutions business group, brings over 30 years of experience in the nuclear industry. His expertise is expected to aid in the commercial deployment of NuScale's SMR technology and global decarbonization efforts. NuScale's CEO, John Hopkins, expressed confidence in Breuer's ability to help the company transition from R&D to commercial deployment. Breuer's appointment signifies NuScale's commitment to addressing the world's decarbonization needs.
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Ansys Enables NuScale Power to Develop Advanced Nuclear Technology

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NuScale Power (SMR) integrates Ansys (ANSS) simulation solutions to design the NPM, the first SMR approved by the U.S. Nuclear Regulatory Commission. The NuScale SMR can safely supply carbon-free energy for various applications, including electrical generation, district heating, water desalinization, and hydrogen production. Ansys solutions have helped NuScale create a groundbreaking fully passive safety system for its reactors.
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NuScale Power to Collaborate with Oak Ridge National Laboratory for a Techno-Economic Assessment

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NuScale Power Corporation (NYSE: SMR) partners with Oak Ridge National Laboratory to conduct a techno-economic assessment (TEA) on implementing a cost-effective steam heat augmentation design using NuScale's small modular reactor (SMR) technology for a U.S. chemical facility. The collaboration aims to assess the viability of NuScale's SMR technology with steam heat augmentation for use in a chemical system, including examination of steam reliability, operational costs, and system stability. The study is expected to be completed within one year and is funded by the U.S. Department of Energy's GAIN initiative. This partnership is a significant step in the effort to decarbonize commercial chemical plants, presenting a reliable clean energy option for meeting clean energy goals.
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Seoul National University Opens NuScale Power Energy Exploration Center

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NuScale Power Corporation (NYSE: SMR) has opened the first NuScale Energy Exploration Center (E2 Center) at Seoul National University in partnership with GS Energy Corporation, Doosan Enerbility Co. Ltd., and Samsung C&T Corporation. This educational training hub aims to develop the next generation of advanced nuclear experts, technologists, and operators, positioning South Korea as a regional leader in small modular reactor (SMR) deployment in Asia. The E2 Center offers a hands-on opportunity to apply nuclear science and engineering principles through simulated, real-world nuclear power plant operation scenarios, providing a unique learning environment for visitors.
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NuScale Power to Participate in November and December 2023 Investor Conferences

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NuScale Power Corporation (NYSE: SMR) announced its management will be meeting with institutional investors at various conferences in November and December 2023. The company will attend invitation-only events such as the NYSE Industrials Conference, Mizuho Power, Energy & Infrastructure Conference, Wells Fargo Midstream & Utilities Symposium, Janney Montgomery Scott Clean Energy Investment Symposium, and Wolfe Research Small and Mid-Cap Conference. Interested investors should contact their sales representative to register and secure a time for one-on-one meetings.
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NuScale Power Reports Third Quarter 2023 Results

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NuScale Power Corporation (NYSE: SMR) announces third quarter results, showcasing growth and innovation in advanced small modular reactor nuclear technology. The company will host a conference call at 5:00 p.m. ET, with a live webcast available for viewing.
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Utah Associated Municipal Power Systems (UAMPS) and NuScale Power Agree to Terminate the Carbon Free Power Project (CFPP)

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NuScale Power Corporation (SMR) and UAMPS terminate the Carbon Free Power Project (CFPP) due to insufficient subscription, despite significant efforts. NuScale's small modular reactor technology has reached commercial deployment stage, and the company will focus on bringing its American SMR technology to market and growing the U.S. nuclear manufacturing base.
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NuScale Power Comments on Inaccurate Short Seller Report

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NuScale Power Corporation responds to a misleading short-seller report, emphasizing their strong position in the nuclear power industry and partnerships with key customers and partners. They clarify inaccuracies regarding equity holdings and sources of income, and highlight their solid balance sheet and expected revenue growth from customer agreements. NuScale also mentions their leadership in SMR technology and regulatory approval, positioning them ahead of global competition.
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FAQ

What is the current stock price of NuScale Power Corporation (SMR)?

The current stock price of NuScale Power Corporation (SMR) is $19.01 as of November 1, 2024.

What is the market cap of NuScale Power Corporation (SMR)?

The market cap of NuScale Power Corporation (SMR) is approximately 1.8B.

What does NuScale Power Corporation do?

NuScale Power Corporation develops small modular reactors (SMRs) for generating sustainable, carbon-free energy.

What is a small modular reactor (SMR)?

An SMR is a type of nuclear reactor that is smaller in size and designed to provide scalable and flexible energy solutions.

Has NuScale's SMR received regulatory approval?

Yes, NuScale's SMR is the first to receive approval from the U.S. Nuclear Regulatory Commission (NRC).

What are the applications of NuScale's SMR technology?

NuScale's SMRs can be used for electrical generation, district heating, desalination, hydrogen production, and other process heat applications.

When will NuScale's SMRs be deployed?

NuScale expects to deploy its SMR technology in the U.S. and Europe by the end of the decade.

How does NuScale ensure the safety of its reactors?

NuScale uses advanced simulation solutions from Ansys to design a fully passive safety system, allowing reactors to shut down and self-cool without operator intervention.

What are the environmental benefits of NuScale's SMR?

NuScale's SMR provides carbon-free energy and supports the production of green hydrogen, contributing to cleaner and more sustainable energy solutions.

Who are NuScale's key partners?

NuScale collaborates with Ansys for advanced simulation solutions that aid in the design and safety analysis of their SMRs.

What is the significance of the NRC's approval for NuScale?

The NRC's approval allows utilities to use NuScale's pre-approved SMR design for applying for combined licenses to build and operate new nuclear power plants.

How does NuScale's SMR contribute to hydrogen production?

NuScale's SMR provides the process heat energy required for the cost-effective separation of hydrogen from oxygen, facilitating the production of green hydrogen.

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NuScale Power Corporation

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