Natura Resources Purchases Shepherd Power; Partners with NOV to Deploy Gigawatts of SMRs in early 2030s

Rhea-AI Summary

Natura Resources acquired Shepherd Power from NOV (NYSE: NOV) and signed an agreement with NOV to align Natura's molten-salt reactor design with NOV's manufacturing and project expertise.

The deal includes NOV becoming an investor and taking a board seat, and targets delivery of multiple gigawatts of small modular reactors (SMRs) for data center and industrial use between 2029 and 2032. Natura expects to deploy a 1-MW reactor in 2026 and its first 100-MW commercial reactor in 2029. Natura plans two NRC commercial filings before the end of 2025.

Positive

• Acquired Shepherd Power to add reactor deployment expertise
• Agreement targets multiple gigawatts of SMRs by 2029–2032
• NOV to invest and appoint a board representative
• NRC construction permit issued for 1-MW reactor in Sept 2024
• 1-MW reactor deployment expected in 2026; 100-MW in 2029
• Design enables medical isotope production and recycled fuel use

Negative

• None.

Key Figures

Reactor size 100-megawatt Commercial-scale reactor design described as cost competitive baseload power

Reactor size 1-megawatt Demonstration reactor permitted for deployment at Abilene Christian University

Construction permit date September 2024 Nuclear Regulatory Commission construction permit for 1-megawatt reactor

Planned applications 2 commercial reactor applications Natura plans NRC filings before end of 2025

Deployment year 2026 Expected deployment of 1-megawatt reactor at Abilene Christian University

Commercial deployment target 2029 Expected first 100-megawatt commercial reactor deployment

Deployment window 2029–2032 Planned delivery of multiple gigawatts of SMRs for data centers and industry

Reactor output 100-MW Design highlighted as suitable for produced water desalination

Market Reality Check

$16.54 Last Close

Volume Volume 3,976,159 vs 20-day average 3,958,349; trading activity near typical levels ahead of this partnership news. normal

Technical Shares traded above the 200-day MA, with price at $16.54 versus MA(200) of $13.44 before the announcement.

Peers on Argus

Peers showed mixed moves, with WFRD up 2.02% and AROC up 2.72%, while CHX fell 2.49% and VAL declined 1.92%. This pattern points to company-specific drivers for NOV rather than a broad sector rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 20	Dividend declaration	Positive	-5.5%	Regular quarterly cash dividend of $0.075 per share announced.
Nov 19	Leadership change	Neutral	-5.5%	CEO transition to Jose Bayardo effective January 1, 2026.
Nov 17	AI collaboration	Positive	-4.5%	Strategic partnership with Armada on AI-powered edge solutions.
Oct 27	Q3 2025 earnings	Negative	+0.8%	Q3 results with lower YoY revenue, net income and EBITDA guidance.
Sep 29	Earnings call notice	Neutral	-1.7%	Announcement of timing for Q3 2025 earnings conference call.

Pattern Detected

Recent NOV headlines often saw share moves diverge from the apparent tone of news, including negative reactions to dividends, leadership updates, and strategic collaborations.

Recent Company History

Over the last few months, NOV’s news flow featured Q3 2025 earnings with revenue of $2.18B and net income of $42M, a leadership transition naming Jose Bayardo as CEO effective January 1, 2026, and a regular quarterly dividend of $0.075 per share. Strategic initiatives included AI-powered edge solutions with Armada. Many of these events saw share-price moves that did not clearly match their apparent tone, providing context for how investors might digest this new SMR partnership.

Market Pulse Summary

The stock is up +6.4% following this news. A strong positive reaction aligns with NOV’s positioning ahead of this SMR partnership, given shares trading above the 200-day MA at $16.54 versus $13.44. Historically, NOV’s stock often moved opposite to the tone of news, with multiple recent events showing divergence. Investors reviewing such a move could weigh the long-dated deployment timeline to 2029–2032 and prior volatility around strategic announcements when assessing durability.

Key Terms

molten salt reactor (MSR) technical

"Natura's molten salt reactor (MSR) technologyShepherd Power's expertise"

A molten salt reactor (MSR) is a type of nuclear reactor that uses a liquid mixture of molten salts to carry heat and, in some designs, to dissolve the nuclear fuel itself, rather than using solid fuel rods. For investors, MSRs matter because they promise different cost, safety and regulatory profiles — potentially lower fuel and waste handling costs, smaller and more flexible plants, and different technology and permitting risks that can affect project timelines, capital needs and long‑term returns.

small modular reactor (SMR) technical

"advance commercialization of its small modular reactor (SMR) technology."

A small modular reactor (SMR) is a compact nuclear power plant built from factory-made modules that can be assembled on site like building blocks, producing a fraction of the output of traditional large reactors. Investors care because SMRs aim to lower construction time and upfront cost, offer more flexible deployment for regional grids, and can change project risk and long-term revenue profiles compared with large nuclear projects.

Nuclear Regulatory Commission regulatory

"The Nuclear Regulatory Commission issued a construction permit in September 2024"

The Nuclear Regulatory Commission is a government agency responsible for overseeing the safety and security of nuclear power plants and radioactive materials. It sets rules and monitors practices to prevent accidents and protect public health. For investors, its regulations can influence the stability and operation costs of nuclear energy companies, affecting their long-term viability.

AI-generated analysis. Not financial advice.

• Agreement will align Natura's breakthrough reactor design with NOV's manufacturing expertise to accelerate commercial deployment of Natura's molten salt reactor (MSR) technology
  
  
• Shepherd Power's expertise in full-scale reactor deployment will accelerate Natura's ability to provide comprehensive power options for customers, including site, build, own, and operate

ABILENE, Texas, Dec. 10, 2025 /PRNewswire/ -- Natura Resources LLC (Natura), a leading developer of advanced molten-salt nuclear reactors, has acquired Shepherd Power from NOV Inc. (NYSE: NOV) and signed an agreement with NOV to advance commercialization of its small modular reactor (SMR) technology.

The agreement will align Natura's breakthrough molten salt reactor design with NOV's manufacturing, supply chain, and project management expertise to support delivery of multiple gigawatts of SMRs for data center and industrial applications between 2029 and 2032.

The acquisition adds Shepherd Power's reactor deployment expertise, including regulatory and licensing experience, to the Natura team, strengthening Natura's path to commercial deployment and enhancing the company's ability to offer a range of industrial power options for customers.

"This strategic transaction will accelerate commercialization of our MSR technology and enhance our ability to offer comprehensive power solutions to customers," said Doug Robison, Founder and CEO of Natura Resources. "Shepherd Power is a leading voice in the advanced nuclear regulatory space, having significantly contributed to commercial licensing clarity with federal and state regulators, and has expertise in the requirements to site, build, own, and operate reactors. Combined with NOV's expertise in scaling highly engineered equipment to drive down delivery costs, this transaction positions us to lead in delivering gigawatts of safe, advanced nuclear reactors within the next 5 years to support critical power needs and fuel American AI leadership."

"The power market is one of the most significant industrial growth opportunities of the next decade," said Jose Bayardo, President and COO of NOV. "Our collaboration with Natura allows NOV to bring its unmatched manufacturing and project management capabilities into an adjacent sector that demands the same rigor, scale, and reliability we have delivered to energy customers for more than a century. We believe that Natura's technology will be one of the first advanced reactors commercially available in the United States. Natura's MSR design incorporates critical safety features and leverages the existing uranium supply chain, enabling the ability to scale manufacturing of reactors that can economically produce heat and power."

As part of the transaction, NOV will become an investor in Natura and will appoint a representative to Natura's Board of Directors.

Natura is building SMRs that use liquid fuel dissolved in a molten salt mixture. This design operates at high temperature and atmospheric pressure, enhancing safety while reducing waste. It can use several fuel types, including recycled waste fuel and enables harvesting of rare medical isotopes critical for cancer treatment.

Natura's modular construction lowers capital costs compared with traditional reactors, making the company's 100-megawatt commercial-scale reactor cost competitive with other clean 24/7 baseload power generation, including natural gas.

The efficiency and design of Natura's 100-MW reactor also will make it an ideal option for produced water desalination, a critical issue for the Permian Basin and other areas of the U.S. with significant oil and gas production.

The Department of Energy's timeline for advanced reactor deployments estimates Natura's MSR-1 will be the first Gen IV reactor deployed the U.S.

The Nuclear Regulatory Commission issued a construction permit in September 2024 for the deployment of Natura's 1-megawatt reactor at Abilene Christian University. Natura expects to deploy this reactor in 2026.

Natura plans to file two commercial reactor applications with the NRC before the end of 2025 –one focused on medical isotope production and the other for grid-scale electricity generation. The company expects to deploy its first 100-megawatt commercial reactor in 2029.

About Natura Resources
Natura Resources LLC is a leading advanced small modular reactor developer committed to answering increasing domestic and global demands for reliable energy, medical isotopes, and clean water. Natura's reactors are liquid-fueled and molten salt-cooled, which enhances safety and reduces waste. With the first construction permit for a liquid-fueled reactor from the NRC, Natura has established itself as a leading force in the advanced nuclear industry, fueled by a commitment to support America's energy future. The company is privately owned and has secured more than $120 million in private funding and a commitment of $120 million from the State of Texas. For more information, www.naturaresources.com.

About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely and efficiently produce abundant energy while minimizing environmental impact. NOV powers the industry that powers the world. For more information: www.nov.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/natura-resources-purchases-shepherd-power-partners-with-nov-to-deploy-gigawatts-of-smrs-in-early-2030s-302638436.html

SOURCE Natura Resources

FAQ

What did Natura announce about Shepherd Power and NOV (NYSE: NOV) on December 10, 2025?

Natura acquired Shepherd Power from NOV and signed an agreement with NOV to align MSR design with NOV manufacturing; NOV will invest and take a board seat.

When does Natura expect to deploy its first commercial 100-MW reactor (Natura MSR-1)?

Natura expects to deploy its first 100-MW commercial reactor in 2029.

What are the timeline targets for Natura and NOV to deliver gigawatts of SMRs?

The agreement targets delivery of multiple gigawatts of SMRs for data center and industrial use between 2029 and 2032.

Has Natura received any NRC permits for its reactors and what are the near-term deployment dates?

The NRC issued a construction permit in September 2024 for a 1-MW reactor at Abilene Christian University; Natura expects that reactor in 2026.

Will NOV have a role in Natura’s corporate governance after the transaction (NOV symbol NOV)?

Yes. As part of the transaction, NOV will become an investor in Natura and appoint a representative to Natura's board.

What additional capabilities does Natura’s molten-salt reactor design claim to provide?

Natura's MSR uses liquid fuel in molten salt, operates at high temperature and atmospheric pressure, can use recycled fuel, and can produce medical isotopes.