NuScale Deal Provides Investment Dollars

NuScale Power today announced last week it has finalized agreements with Doosan Heavy Industries and Construction (DHIC) and Sargent & Lundy to support deployment of its small modular reactor (SMR). The agreement comes with a cash investment for the U.S. company.

NuScale modelDHIC will bring its expertise in nuclear pressure vessel manufacturing and will join the larger U.S.-led manufacturing team to build NuScale’s groundbreaking NuScale Power Module (NPM), which is scaled to be America’s first small modular reactor. Meanwhile, Sargent & Lundy will proceed with development of the standard plant design to be used at multiple locations, including the Carbon Free Power Project in Idaho. Sargent & Lundy will also provide additional architect-engineer support.

“NuScale’s collaborations with DHIC and Sargent & Lundy are a strong endorsement of our company’s standing as a global leader in SMR technology,” said NuScale Chairman and Chief Executive Officer John Hopkins. “Both of these companies will provide cash investments and offer invaluable technical expertise, design support and, in the case of DHIC, manufacture key components of our groundbreaking reactor as we near the beginning of the construction phase for our first plant at the Idaho National Lab. We look forward to working with both of them to deliver America’s first SMR.”

“The strategic cooperation between NuScale and Doosan will be a foundation for our win-win collaboration not only in the US but also in the global nuclear markets,” said Kiyong Na, CEO of DHIC Nuclear Business Group. “It will give a boost to the US nuclear industries and Korean nuclear industries, and also contribute to reduction of CO2 worldwide.”

NuScale’s technology is the only SMR to undergo design certification review by the U.S. Nuclear Regulatory Commission (NRC). The NRC recently completed phases 2 and 3 of its review and is scheduled to complete the entire review of NuScale’s design in September 2020. NuScale’s first customer, Utah Associated Municipal Power Systems, is planning a 12-module SMR plant in Idaho slated for operation by the mid-2020s based on this certified design.

Anonymous comments will be moderated. Join for free and post now!