NuScale is only company with NRC approval for small reactor
First U.S. power plant with NuScale reactor expected in 2029
NuScale Power Corp., an advanced nuclear technology company, rose on its first day of trading after completing a merger with blank-check company Spring Valley Acquisition Corp.
The Fluor Corp.-backed company gained 5.5% to close at $10.55 on Tuesday. It raised $380 million through the deal with the special purpose acquisition company.
NuScale is the only company to have won approval from the U.S. Nuclear Regulatory Commission for a small reactor design, or SMR. Supporters say SMRs could constitute the next wave of new nuclear projects because they expect the technology to be faster and cheaper to build.
“As a public company, we can accelerate our efforts to help meet the world’s urgent clean-energy needs,” Chief Executive Officer John Hopkins said in a statement Monday.
The company’s shares are trading on the New York Stock Exchange under the symbol SMR.
Source: Bloomberg – Nuclear-Tech Firm NuScale Gains After Completing SPAC Merger