PORTLAND, Oregon – (BUSINESS WIRE) – Mar. August 2021–
NuScale Power announced today that the latest private equity investments from a diverse base of strategic investors are $ 152 million, completing NuScale’s A-5 investment round and increasing the company’s total financial year to approximately $ 192 million to date. Investments were secured by GS Energy, Doosan Heavy Industry and Construction, IHI Corporation, Samsung C&T Corporation, Sargent & Lundy and Sarens. This announcement follows a $ 40 million investment by JGC Holdings Corporation earlier this year.
NuScale is the leading developer of a small modular reactor (SMR) that delivers scalable, safe, and reliable carbon-free nuclear power. Since 2007, NuScale has invested hundreds of millions to develop and commercialize its SMR technology, which includes both private investments and DOE cost-sharing awards.
“NuScale is thrilled to have the support of such a distinguished group of partners who share our vision to transform the clean energy sector,” said John Hopkins, chairman and chief executive officer of NuScale Power. “Taken together, these investments reflect the growing and significant interest in NuScale technology as the world expects us to provide affordable, carbon-free energy solutions.”
In August 2020, NuScale made history as the first and only SMR to receive design approval from the U.S. Nuclear Regulatory Commission (NRC), and in July 2021 the commission released the proposed rule that would certify the NuScale design – a crucial step in that direction the construction and use of this SMR technology.
This achievement would not have been possible without the support of the DOE, and this public-private partnership remains critical to the successful advancement of NuScale’s technology towards commercialization. The shared cost funding provided by the US Congress has already accelerated NuScale’s progress through the complex and rigorous NRC design certification process.
The company maintains strong program dynamics to commercialize its SMR technology, including supply chain development, standard equipment design, planning equipment delivery activities, and commissioning and commissioning plans.
About NuScale Power
NuScale Power has developed a new modular light water reactor nuclear power plant to provide energy for power generation, district heating, desalination and other process heat applications. This groundbreaking Small Modular Reactor (SMR) design features a fully factory-built NuScale Power Module ™ capable of generating 77 MW of electricity using a safer, smaller, and more scalable version of pressurized water reactor technology. NuScale’s scalable design – power plants that can accommodate up to four, six, or 12 individual power modules – offers the benefits of carbon-free energy and reduces the financial obligations associated with gigawatt nuclear power plants. NuScale’s majority investor is Fluor Corporation, a global engineering, procurement and construction company with a 70-year history in commercial nuclear power.
NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power and Instagram: nuscale_power. Visit the NuScale Power website.
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CONTACT: Diane Hughes, NuScale Vice President, Marketing & Communications
[email protected] (C) 503-270-9329
KEYWORD: UNITED STATES NORTH AMERICA OREGON
INDUSTRY KEYWORD: NUCLEAR ALTERNATIVE ENERGY ENERGY ENVIRONMENT
SOURCE: NuScale Power
Copyright Business Wire 2021.
PUB: 3/8/2021 8:00 AM / DISC: 3/8/2021 8:02 AM
http://www.businesswire.com/news/home/20210803005386/en
Copyright Business Wire 2021.
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