NuScale Power (NYSE: SMR) to acquire reactor long lead materials for $32.3M

Rhea-AI Filing Summary

NuScale Power Corporation reported that its subsidiary, NuScale Power, LLC, entered into a Tri-Party Agreement with the U.S. Department of Energy and CFPP LLC concerning certain long lead reactor pressure vessel materials produced for the Carbon Free Power Project under DOE award DE-NE0008935. Under this Agreement, NuScale will acquire CFPP’s rights, title, and interests in specified long lead time materials for total consideration of $32,322,870.89, to be paid through issuance of credit invoices to CFPP.

The Agreement also provides that if the transaction does not close on or before October 1, 2025, CFPP will instead transfer the assets that NuScale would have purchased to the Department of Energy.

Insights

Energy infrastructure and contracts analyst

NuScale agrees to acquire specialized reactor materials for $32.3M via credits.

NuScale Power, LLC has committed to acquire certain upper reactor pressure vessel long lead materials related to the Carbon Free Power Project for $32,322,870.89, paid through credit invoices to CFPP LLC. These materials are tied to DOE award DE-NE0008935, indicating they are purpose-built components for NuScale’s nuclear technology.

The Agreement includes a timing condition: if closing does not occur on or before October 1, 2025, CFPP will transfer the assets to the U.S. Department of Energy instead of NuScale. That structure underscores a narrow window for NuScale to complete the acquisition while providing an alternate disposition path for the assets.

From an investor perspective, this is a contractual step rather than a full financial picture. It highlights a quantified commitment to long lead reactor materials and a clear deadline, while the broader economic impact depends on how these assets are integrated into NuScale’s future projects and disclosures in subsequent reports.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________

FORM 8-K

__________________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 22, 2025

NuScale Power Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-39736

98-1588588

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

1100 NE Circle Blvd., Suite 200 Corvallis, OR

97330

(Address of principal executive offices)

(Zip Code)

(971) 371-1592

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock, $0.0001 par value per share

SMR

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934

(§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to

Section 13(a) of the Exchange Act.                                     ☐

Item 1.01. Entry into a Material Definitive Agreement.

On September 22, 2025, NuScale Power, LLC ("NuScale"), a subsidiary of NuScale Power Corporation, entered into a Tri-Party Agreement (the "Agreement") with the U.S. Department of Energy ("DOE") and CFPP LLC ("CFPP") to delineate the roles, responsibilities, procedures, and assurances that the parties will uphold concerning the disposition of certain upper reactor pressure vessel long lead materials that were produced in support of the Carbon Free Power Project under DOE award DE-NE0008935 (the "LLM Assets").

Under the terms of the Agreement, NuScale will acquire all of CFPP’s right, title and interests in and to certain long lead time materials identified in the Agreement that were produced in support of the Carbon Free Power Project, for total consideration of $32,322,870.89, to be paid by the issuance of credit invoices to CFPP. If this transaction does not close on or before October 1, 2025, then CFPP will transfer the assets to be purchased by NuScale to the DOE.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01.    Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit No.
10.1						Tri-Party Agreement between U.S. Department of Energy, CFPP LLC, and NuScale Power, LLC on Long Lead Materials*
104						Cover Page Interactive Data File (formatted as Inline XBRL).

* As permitted by Regulation S-K, Item 601(b)(10)(iv) of the Securities Exchange Act of 1934, as amended, certain confidential portions of this exhibit have been redacted from the publicly filed document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NuScale Power Corporation

Date: September 24, 2025

By:

/s/ Robert Ramsey Hamady

Name:

Robert Ramsey Hamady

Title:

Chief Financial Officer

FAQ

What agreement did NuScale Power Corporation (SMR) enter into on September 22, 2025?

NuScale Power, LLC, a subsidiary of NuScale Power Corporation, entered into a Tri-Party Agreement with the U.S. Department of Energy and CFPP LLC to define roles, responsibilities, procedures, and assurances related to certain long lead reactor pressure vessel materials produced for the Carbon Free Power Project.

What is the value of the long lead materials NuScale is acquiring from CFPP LLC?

NuScale will acquire CFPP’s rights, title, and interests in specified long lead time materials for total consideration of $32,322,870.89, which will be paid by issuing credit invoices to CFPP.

What happens if NuScale’s long lead materials transaction does not close by October 1, 2025?

If the transaction does not close on or before October 1, 2025, CFPP LLC will transfer the assets that were to be purchased by NuScale to the U.S. Department of Energy instead.

How is the U.S. Department of Energy involved in NuScale’s long lead materials arrangement?

The U.S. Department of Energy is a party to the Tri-Party Agreement with NuScale Power, LLC and CFPP LLC and is designated to receive the long lead materials from CFPP if NuScale’s acquisition does not close by the specified deadline.

What project are the long lead materials associated with for NuScale (SMR)?

The long lead reactor pressure vessel materials, referred to as the LLM Assets, were produced in support of the Carbon Free Power Project under DOE award DE-NE0008935.

Where can investors find the full text of NuScale’s Tri-Party Agreement?

The full text of the Tri-Party Agreement is filed as Exhibit 10.1, titled “Tri-Party Agreement between U.S. Department of Energy, CFPP LLC, and NuScale Power, LLC on Long Lead Materials,” with certain confidential portions redacted as permitted by Regulation S-K.