US-based NuScale Power announced on 3 August that recent private capital investments from a diverse base of strategic investors totalled $152 million, closing out NuScale’s A-5 round of investments, and bringing the company’s total funding year to date to approximately $192 million. Investments have been secured from GS Energy, Doosan Heavy Industries and Construction, IHI Corporation, Samsung C&T Corporation, Sargent & Lundy and Sarens. This announcement follows a $40 million investment from JGC Holdings Corporation earlier this year.
NuScale is developing a small modular reactor (SMR) that aims to deliver scalable nuclear power. Since 2007, NuScale has invested hundreds of millions in the development and commercialisation of its SMR technology, which includes both private investments and cost-sharing awards from the US Department of Energy (DOE).
“NuScale is incredibly excited to receive the support of such a distinguished group of partners who share our vision to transform the clean energy sector,” said John Hopkins, NuScale Power Chairman and CEO. “Taken together, these investments reflect the growing and substantial interest in NuScale’s technology as the world looks to us to provide affordable, carbon-free energy solutions.”
NuScale’s light water SMR aims to supply energy for electrical generation, district heating, desalination, and other process heat applications. It features a fully factory-fabricated NuScale Power Module capable of generating 77MW of electricity using pressurised water reactor technology. NuScale's scalable design—a power plant can house up to four, six, or 12 individual power modules reduces the financial commitments associated with gigawatt-sized nuclear facilities. In August 2020 it became the first SMR design to receive approval from the US Nuclear Regulatory Commission. NuScale and Fluor are currently working for Utah Associated Municipal Power Systems to commercialise the plant. NuScale has signed and announced memoranda of understanding with potential customers interested in considering a deployment of its SMR technology in 11 countries.