NuScale Power Corporation and Nucor Corporation Enter into a MOU for SMRs at Steel Mills

NuScale Power Corporation and Nucor Corporation (Nucor) announced today that they have entered into a Memorandum of Understanding (MOU) to explore the possibility of co-locating NuScale's VOYGR™ small modular nuclear reactor (SMR) power plants with Nucor's Electric Arc Furnace (EAF) steel mills. The goal is to provide clean and reliable baseload electricity to Nucor's mills while also examining opportunities for an expanded manufacturing partnership.

NuScale VOYGRUnder the MOU, the companies will assess the suitability of potential sites, evaluate transmission interconnection capabilities, and estimate capital costs for the establishment of NuScale plants in close proximity to Nucor's EAF steel mills. Furthermore, NuScale will investigate the feasibility of locating a manufacturing facility for their Power Modules™ near a Nucor facility.

NuScale's VOYGR power plants have the capacity to generate up to 924 MWe of output, with the flexibility to scale in various configurations. They are particularly well-suited for industrial applications as a highly dependable source of carbon-free energy. Notably, NuScale's VOYGR plants have received approval and certification from the U.S. Nuclear Regulatory Commission, making them the first and only SMR design to achieve this milestone. These plants incorporate fully passive safety features, eliminating the need for external grid connections for key safety functions. Additionally, they can establish an Emergency Planning Zone within the plant site boundary, which enhances their suitability for industrial users such as Nucor.

John Hopkins, NuScale's President and CEO, expressed enthusiasm about the collaboration, emphasizing Nucor's shared commitment to sustainability and their mutual understanding of NuScale's technology in facilitating the transition to clean and reliable baseload power. He looks forward to exploring how NuScale's SMR technology can best support Nucor's advanced steelmaking operations, with the ultimate goal of driving a more sustainable future.

Leon Topalian, Chair, President, and CEO of Nucor Corporation, affirmed Nucor's dedication to supporting the development of transformative technologies that enable the deployment of safe, reliable, and affordable 24/7 carbon-free power, highlighting NuScale's VOYGR SMR plants as an ideal solution. He emphasized the significance of this partnership in paving the way for a zero-carbon energy future for the United States, while also producing the cleanest steel products available worldwide.

This agreement strengthens the partnership between NuScale and Nucor, following Nucor's $15 million investment in NuScale in 2022. It also underscores the increasing global interest among industrial leaders in small modular reactors.

The U.S. Department of Energy recognizes the importance of reducing emissions in the steel manufacturing industry as a crucial step toward achieving net-zero emissions by 2050.

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