NuScale Power transitioning to commercialization with strategic growth
NuScale Power Corporation, a provider of advanced small modular reactor nuclear technology, announced strategic actions this week to advance its transition from research and development to commercialization.
“Our U.S. Nuclear Regulatory-approved, industry-leading SMR technology is already many years ahead of the competition,” John Hopkins, NuScale president and CEO, said. “Today, commercialization of our SMR technology is our key objective, which includes near-term deployment and manufacturing.”
The company stated that these efforts will cut cost base, in addition to seeing resources shuffled to specific areas. Those actions were further predicted to gain the company $50-60 million in annualized savings. At this time, NuScale is the only technology provider and producer of small modular nuclear reactors with U.S. regulatory approval and readiness for commercial launch.
The company is focusing on advancing existing revenue-generating projects and lock down new orders for the long term.
