STOCK TITAN

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.

Rhea-AI Summary

NuScale Power Corporation (NYSE: SMR) will host a conference call on March 15, 2023, at 5:00 p.m. ET to discuss its 2022 fourth quarter and year-end financial results. The results will be released after the market closes on that day. Investors can access the conference call by dialing (888) 550-5460 with conference ID 4347254 or through the company's website. The company focuses on advanced small modular reactor technology, aiming to provide safe, scalable, and carbon-free energy solutions. NuScale's VOYGR™ system is the first SMR design certified by the U.S. Nuclear Regulatory Commission.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.86%
Tags
-
Rhea-AI Summary

GSE Solutions (Nasdaq: GVP) has announced a contract with NuScale Power (NYSE: SMR) to create a Hydrogen Plant Model for NuScale's VOYGRTM small modular reactor simulator. This collaboration will enhance the existing control room simulator to assess the feasibility of connecting hydrogen production to SMR power plants. The model is expected to be completed by March 2024, supporting decarbonization efforts through clean hydrogen production. GSE aims to leverage its advanced simulation technology to improve energy production efficiency and safety.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.3%
Tags
none
-
Rhea-AI Summary

NuScale Power Corporation announced that its Project Management Committee approved a new Budget and Plan of Finance for the Carbon Free Power Project (CFPP), furthering its commitment to SMR technology. The project, located near Idaho Falls, Idaho, will feature six modules generating 462 megawatts of carbon-free electricity.

NuScale updated the Development Cost Reimbursement Agreement, establishing a target price of $89 per megawatt hour. However, inflationary pressures have increased project costs significantly due to external factors, including a more than 50% rise in steel prices since 2020.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.24%
Tags
none
Rhea-AI Summary

NuScale Power Corporation (NYSE: SMR) announced that CFO Chris Colbert will participate in the UBS Winter Infrastructure & Energy Conference on January 10, 2023, in Park City, UT. The conference will feature 1x1 and small group meetings. NuScale is a leader in advanced small modular reactor technology, designed to meet global energy needs through electrical generation and process heat applications. The NuScale Power Module™ can generate 77 megawatts, scalable for larger outputs up to 924 megawatts with their VOYGR™-12 power plant.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.32%
Tags
conferences
-
Rhea-AI Summary

NuScale Power Corporation (NYSE: SMR) submitted a Standard Design Approval (SDA) application to the U.S Nuclear Regulatory Commission (NRC) on January 1, 2023, for its updated small modular reactor (SMR) design based on the VOYGR™-6 configuration, featuring a 250 MWt module. This design maintains the NRC-approved safety features from 2020 while increasing power output by 25%. The NRC's previous approval of NuScale's SMR design positions the company for efficient regulatory review. Collaborations are ongoing with clients in Poland and Romania to deploy SMR technology, reinforcing its market potential.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.32%
Tags
none
-
Rhea-AI Summary

NuScale Power has signed a significant contract for Front-End Engineering and Design (FEED) work with RoPower Nuclear S.A. to deploy a NuScale VOYGR™ small modular reactor (SMR) power plant in Romania. This eight-month project will assess environmental impacts and site-specific requirements for the VOYGR-6 SMR at the Doicesti Power Station. With this collaboration, Romania is set to become the first European country to utilize this advanced nuclear technology, aligning with energy security and decarbonization goals.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.22%
Tags
Rhea-AI Summary

NuScale Power Corporation (NYSE: SMR) has announced the timely completion of its Standard Plant Design (SPD) project, achieving over 12,000 deliverables. This significant milestone enhances its readiness for facility construction and equipment procurement, marking substantial progress towards deploying VOYGR™ SMR power plants globally. The SPD encompasses essential documentation and a comprehensive 3D model, aiding clients in evaluating NuScale's technology. This achievement showcases NuScale's technological maturity and differentiation from competitors.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.05%
Tags
none
-
Rhea-AI Summary

NuScale Power Corporation (NYSE: SMR) announced that Karin Feldman will be the interim Chief Operating Officer/Chief Nuclear Officer starting January 6, 2023. She succeeds Dale Atkinson, who retires on January 5, 2023, after over eight years. Feldman, currently Vice President of Program Management, has been with NuScale since 2012 and holds degrees in nuclear engineering. During Atkinson's tenure, NuScale achieved significant milestones, including regulatory approval from the U.S. Nuclear Regulatory Commission. The company is now searching for a permanent COO/CNO.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.46%
Tags
none
-
Rhea-AI Summary

NuScale Power Corporation (NYSE: SMR) has expanded its Board of Directors from eight to ten members with the addition of Dr. Bum-Jin Chung and Mr. Shinji Fujino. Both new members bring extensive nuclear expertise and experience in governance. Dr. Chung, a nuclear engineering professor, has a background in thermal hydraulics and safety, while Mr. Fujino has previously managed equity finance at Japan Bank for International Cooperation. The management highlights that these appointments enhance the company's leadership strength and commitment to advancing nuclear energy on a global scale.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.83%
Tags
management
Rhea-AI Summary

NuScale Power has awarded two contracts to Framatome for designing fuel handling equipment and storage racks for its VOYGR™ SMR power plant. This partnership enhances NuScale's supply chain and manufacturing efforts, crucial for meeting project timelines by the decade's end. The collaboration, ongoing since 2014, signifies a strengthened relationship aimed at developing advanced nuclear technology. The VOYGR power plants can generate up to 924 megawatts of electricity, showcasing NuScale's commitment to clean energy solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.64%
Tags
none

FAQ

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

The current stock price of NuScale Power Corporation (SMR) is $25.74 as of November 20, 2024.

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

The market cap of NuScale Power Corporation (SMR) is approximately 2.6B.

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.

NuScale Power Corporation

NYSE:SMR

SMR Rankings

SMR Stock Data

2.56B
84.06M
10.55%
50.04%
23.99%
Specialty Industrial Machinery
Fabricated Plate Work (boiler Shops)
Link
United States of America
CORVALLIS