NuScale Power

NuScale Power Corporation (NYSE: SMR) is a Portland/Tigard, Oregon-based nuclear technology company that designs and commercializes Small Modular Reactors (SMRs). Its flagship product, the VOYGR power plant, uses the NuScale Power Module™ - a pressurized light water reactor that relies on natural circulation cooling and passive safety systems, requiring no powered pumps even in an emergency. VOYGR plants are fully scalable, from a 4-module (308 MWe) configuration up to a 12-module plant producing up to 924 MWe of carbon-free baseload power. In 2022, NuScale became the first SMR design in the world to receive Standard Design Certification from the U.S. Nuclear Regulatory Commission (NRC), and in May 2025 the upgraded 77 MWe module design received NRC Standard Design Approval - cementing NuScale's position as the only NRC-approved SMR design available for deployment in the United States. The company went public via a SPAC merger in May 2022 and trades on the NYSE under the ticker "SMR."

NuScale's technology traces its roots to university research conducted at Oregon State University (OSU) and Idaho National Laboratory (INL) beginning in 2000, with the company formally founded in 2007 by Dr. José Reyes and Paul Lorenzini. The VOYGR design targets a wide range of applications: supporting AI data center power demands, replacing retiring coal plants, providing industrial process heat, enabling desalination, and complementing variable renewable energy with reliable baseload generation. NuScale has inked partnerships with global industrial firms including Framatome (fuel supply chain), Paragon/Mirion Technologies (final design work), and Ebara Elliott Energy (petrochemical applications), and maintains an exclusive global commercialization agreement with ENTRA1 Energy, a private asset management-backed firm. The company also has active negotiations for deployments in Romania and Tennessee.

NuScale is critically important to the U.S. energy supply chain as the only SMR technology with full regulatory approval, making it the leading candidate to anchor America's next generation of clean, firm nuclear capacity. With growing interest from technology giants seeking to power data centers and a renewed national push for energy security, NuScale represents a pivotal bridge between the existing large-reactor nuclear fleet and a future of modular, scalable, factory-built nuclear power. Its domestically certified design, supply chain partnerships with established nuclear vendors, and publicly traded status give it a unique position in the broader effort to decarbonize the U.S. grid while reducing dependence on fossil-fuel baseload generation.