NuScale Power

Public (NYSE: SMR)Founded 2007Portland, Oregon

CEO

John Hopkins

Overview

NuScale Power is developing small modular reactors (SMRs) that represent a scalable, carbon-free nuclear energy solution. Their flagship product, the VOYGR power plant, uses a modular design where each module produces 77 MWe. NuScale's SMR design became the first to receive Standard Design Approval from the U.S. Nuclear Regulatory Commission, making it a pioneer in the next generation of nuclear power.

Operations & Revenue

StatusPre-revenue

Development stage — no operational reactors yet. Revenue limited to engineering services and government contracts.

Pipeline & Contracts

DOE Cost-Share Agreements

Over $600M in Department of Energy funding to support SMR design development and certification.

International Licensing & Engineering

Agreements with RoPower (Romania) and KHNP (South Korea) for SMR deployment, providing engineering and licensing revenue.

Key Metrics

Employees

330+

Est. Annual Revenue

~$30M (2025)

Total Funding

$1.5B+

Market Cap

~$4B (2026)

Module Output

77 MWe each

Main Products

VOYGR-12

In Development

Full-scale SMR power plant with 12 modules generating up to 924 MWe of carbon-free electricity.

Full-scale configuration — pursuing international deployment in Romania with RoPower, targeted early 2030s.

NuScale Power Module

In Development

Self-contained 77 MWe pressurized water reactor module with integrated steam generators.

NRC Standard Design Approval (2020) and Design Certification (2023) received — first physical module not yet constructed.

VOYGR-6

In Development

Mid-size SMR plant configuration with 6 modules producing up to 462 MWe.

Mid-size configuration targeting international markets — agreements signed with Romania and South Korea.

Timeline

2007Founded

NuScale Power spins out of Oregon State University research led by Dr. José Reyes.

2008Fluor investment

Fluor Corporation becomes a major investor and strategic partner.

2016NRC application submitted

NuScale submits the first-ever SMR Design Certification Application to the NRC.

2020NRC design approval

Receives Standard Design Approval from the NRC — a first for any SMR in the United States.

2022Goes public via SPAC

NuScale lists on the NYSE under ticker SMR through a merger with Spring Valley.

2023CFPP project cancelled

Carbon Free Power Project in Idaho cancelled due to rising costs, refocusing commercial strategy.

2024International agreements

Signs agreements for SMR deployments in Romania, South Korea, and other international markets.

Funding

Round	Date	Amount	Investors
DOE funding	2013–2020	$600M+	U.S. Department of Energy
Fluor investment	2008–2020	$500M+	Fluor Corporation
SPAC merger	2022	$380M	Spring Valley Acquisition Corp