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NuScale Power and Spring Valley Acquisition Corp announced an increased PIPE investment from
NuScale Power and Spring Valley Acquisition Corp. announced the filing of a registration statement with the SEC concerning their proposed business combination. This transaction aims to merge NuScale, a leader in advanced nuclear SMR technology, with Spring Valley, a special purpose acquisition company. Upon completion, NuScale Power Corporation will become the first publicly traded company dedicated to SMR technology. The deal is expected to close in the first half of 2022, pending shareholder approval and customary closing conditions.
NuScale Power appoints James T. Hackett as non-executive Chairman of the Board of Managers. Hackett has been a board member since November 2021 and brings significant experience from his roles in the energy sector, including at Fluor Corporation and Anadarko Petroleum. The company, focused on modular nuclear energy solutions, claims that Hackett's leadership will be crucial for advancing commercialization efforts. NuScale has developed a modular reactor capable of generating 77 MWe, with scalable options for larger power plants.
Fluor Corporation (NYSE: FLR) announced a merger agreement with Spring Valley Acquisition Corp. (NASDAQ: SV), set to close in the first half of 2022. This merger will create the first publicly traded developer of advanced small modular reactor (SMR) technology, with Fluor expected to maintain a 60% stake in the new entity. Fluor has invested over $600 million in NuScale Power since 2011, which has received Standard Design Approval from the U.S. Nuclear Regulatory Commission. The innovation aims for low-carbon, reliable power generation, with NuScale’s modules providing scalable energy solutions.
NuScale Power enters a business combination agreement with Spring Valley Acquisition Corp. (SV) to create NuScale Power Corporation, estimated to have a pro-forma enterprise value of
Spring Valley Acquisition Corp. (SV, SVSVW, SVSVU) and AeroFarms have mutually agreed to terminate their merger agreement, effective immediately. CEO David Rosenberg emphasized that this decision aligns with AeroFarms' growth strategy and is in the best interests of shareholders. The company is experiencing strong retail distribution gains and anticipates commercial production at its Virginia farm by mid-2022. Additionally, AeroFarms plans to enhance its technological edge with a new R&D facility in Abu Dhabi.
AeroFarms is expanding its distribution of leafy greens to over 350 Stop & Shop locations across the Northeast and New England regions this Fall. The CEO, David Rosenberg, highlighted the popularity of their award-winning greens and the partnership that will ensure consistent pricing and availability. AeroFarms focuses on optimal flavor and nutrition through its innovative indoor vertical farming techniques. The company’s products, including baby leafy greens and microgreens, are pesticide-free and ready-to-eat, appealing to health-conscious consumers.
Spring Valley Acquisition Corp. (NASDAQ: SV, SVSVW, SVSVU) and AeroFarms have provided an update on their business combination process. Shareholders approved the merger on August 30, 2021, and the parties are working towards closing the transaction by October 24, 2021. Following the merger, the new entity will trade under ticker symbols 'ARFM' and 'ARFMW'. Spring Valley focuses on sustainable investments, while AeroFarms leads in indoor vertical farming technology, promoting efficient agricultural practices.
Goose Island and AeroFarms have launched Hail Hydro, a new session IPA brewed with hydroponic hops from AeroFarms' indoor vertical farming in Newark, NJ. This 4.7% hazy IPA is part of Goose Island's Impossible IPA series, utilizing innovative agricultural technology that offers significantly higher productivity—up to 390 times greater yield using 95% less water. The beer features citrus notes and is available for a limited time on Goose Island's UK Webstore. The partnership aims to enhance sustainability and flavor in brewing.
