NuScale Power Corporation Stock Price, News & Analysis

GSE Solutions (Nasdaq: GVP) has announced a contract with NuScale Power (NYSE: SMR) to create a Hydrogen Plant Model for NuScale's VOYGR^TM 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.

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.

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.

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.

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.

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.

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.

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.

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.