Nuscale Power Corporation (NYSE: SMR) has announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 250 MWT (77 MWe) Nuscale Power Modules™, representing an increase from its previously-approved 50 MWe design. This approval marks a significant milestone for Nuscale as it remains the only small modular reactor (SMR) technology company to have received approval from the NRC for its SMR technology design.
The uprate approval by the U.S. regulatory authority increases the power output per module from Nuscale’s previously-approved 50 MWe design, enabling its partner, Entra1 Energy, to provide a wider range of off-takers and consumers with reliable, carbon-free energy. This development positions Entra1 Energy to produce and deliver energy as the most near-term American SMR power solution via Entra1 Energy plants™ with Nuscale SMR technology inside.
Nuscale's President and CEO, John Hopkins, expressed enthusiasm about the NRC's approval of their second SDA application, stating that it marks a historic moment for the entire industry as Nuscale and Entra1 move closer to meeting the demands of clean energy users. The company remains on track for deployment by 2030.
The company's first design certification application (DCA) for its 160 MWT (50 MWe) SMR design was accepted by the NRC in March 2017, and subsequently, the NRC affirmed its approval of Nuscale’s 50 MWe SMR design, marking the first design to receive its approval.
Nuscale's uprated design features the same fundamental safety case and passive safety features previously approved by the NRC with a power uprate and select design changes to support growing capacity needs. Additionally, the early completion of the NRC review process marks a significant achievement for Nuscale.
Carrie Fosaaen, Vice President of Regulatory Affairs and Services, emphasized Nuscale's commitment to advancing with Entra1 Energy in the commercialization of their SMR technology inside Entra1 Energy plants while remaining steadfast in their mission to improve the quality of life for people around the world through safe, clean energy.
Founded in 2007, Nuscale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, Nuscale is well-positioned to serve diverse customers across the world by supplying nuclear energy for various applications.
Entra1 Energy, Nuscale's exclusive global strategic partner, is dedicated to increasing energy security by providing safe, reliable, cost-effective, and environmentally responsible electric power. As the one-stop-shop and single hub for the financing, investment, development, execution, and/or management of Entra1 Energy plants™ with Nuscale SMRs inside, Entra1 Energy plays a crucial role in the commercialization, distribution, and deployment of Nuscale’s products and services.
This development represents a significant step forward for Nuscale in its mission to provide safe, clean, and reliable energy to consumers and off-takers, and marks a crucial advancement in the field of small modular reactor technology. Following these announcements, the company's shares moved -6.76%, and are now trading at a price of $32.98. For the full picture, make sure to review NUSCALE POWER Corp's 8-K report.
