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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.
NuScale Power Corporation (NYSE: SMR) reported strong results for Q2 2022, raising
NuScale Power Corporation has partnered with National Technical Systems to develop the world’s first Loss of Coolant Accident (LOCA) chamber, designed to test components of its small modular reactor technology under high pressure and temperature. This collaboration aims to ensure compliance with Nuclear Regulatory Commission standards and facilitate the timely delivery of NuScale Power Modules by 2027. The chamber will be built in Huntsville, AL, marking a significant step toward deploying NuScale's innovative nuclear solutions globally, supporting cleaner energy production.
NuScale Power Corporation (NYSE: SMR) has entered into a Business Collaboration Agreement with National Technical Systems (NTS) to develop an Equipment Qualification Test Chamber. This facility will simulate environmental conditions necessary for ensuring the functionality of components used in NuScale's small modular reactor technology. The agreement aims to enable timely delivery of NuScale Power Modules™ to customers by 2027, marking significant progress towards global deployment of this advanced nuclear technology.
NuScale Power Corporation (NYSE: SMR) announced a conference call for investors and analysts on August 10, 2022, at 5:00 p.m. ET, to discuss its Second Quarter 2022 financial results. A press release with the financial details will be available on their Investor Relations website after market close on the same day. NuScale is recognized for its innovative small modular reactor technology, which includes options for various energy outputs tailored to customer needs. The company is committed to addressing global energy demands through its advanced nuclear solutions.
NuScale Power and Paragon Energy Solutions have signed a licensing agreement for the Highly Integrated Protection System (HIPS) platform, enhancing the safety capabilities of small modular reactors (SMRs). This agreement allows other SMR developers to utilize the NRC-approved HIPS technology, promoting cost-effective and cyber-resistant reactor protection solutions. By partnering with Paragon, NuScale aims to contribute to global decarbonization goals and strengthen the U.S. nuclear supply chain, aligning with the U.S. Department of Energy's strategy to enhance domestic manufacturing and job retention.
NuScale Power Corporation (NYSE: SMR) has announced the SEC's declaration of its Form S-1 registration statement, effective from July 1, 2022. This registration applies to pre-merger shares and PIPE securities, which will enhance accessibility and liquidity for shareholders and new investors. NuScale aims to drive the transition to clean energy with its advanced nuclear small modular reactor technology, capable of generating significant energy. The registration involves up to 178,396,711 Class A shares for exchange, bolstering trading volume and opportunities for investors.
NuScale Power has announced a strategic shift to enhance customer engagement by establishing a new business unit, VOYGR™ Services and Delivery (VSD). This unit will focus on delivering services and equipment related to NuScale's small modular reactors (SMR), following the NRC's approval in August 2020. With a goal to meet growing global energy demands, the restructuring aims to streamline operations and ensure effective delivery of projects, including significant contracts in the U.S., Poland, and Romania. Thomas Mundy will lead the new unit, emphasizing NuScale's commitment to clean energy solutions.
NuScale Power, a leader in advanced nuclear small modular reactor (SMR) technology, will attend several investor conferences in June 2022. These include the Cowen Sustainability and Energy Transition Conference on June 7, the Stifel Cross-Sector Insight Conference on June 8 in Boston, the UBS Utility and Energy Summit on June 14-15 in Kiawah Island, SC, the J.P. Morgan Energy, Power, and Renewables Conference on June 23 in New York City, and the Cantor Fitzgerald ESG Technology Conference on June 28 in Palo Alto, CA.
NuScale Power (NYSE: SMR) reports a total of $383.7 million in capital for its growth plan, including $341 million from a merger with Spring Valley Acquisition Corporation. The company is experiencing significant commercial momentum with new engagements in the U.S., Europe, and partnerships in South Korea and Japan. Financially, NuScale recorded $2.4 million in revenue and a net loss of $(23.4) million for Q1 2022. Looking ahead, NuScale reaffirms its financial outlook with a projected $16 million in cash revenue for 2022.
NuScale Power Corporation (NYSE: SMR) will host a Company Update call for investors and analysts on June 3, 2022, at 11:00 a.m. Eastern Time. CEO John Hopkins and CFO Chris Colbert will discuss recent business highlights, reaffirm financial projections, and answer analyst questions. Interested participants can join via dial-in at (888) 660-6537 or through a webcast accessible on NuScale's Investor Relations website. The NuScale Power Module™ technology, developed to meet diverse global energy needs, showcases its capacity to generate up to 924 MWe with its VOYGR™-12 power plant.
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