NuScale Power
NuScale Power develops the NuScale Power Module, the first and only NRC-certified small modular reactor (SMR). The 77 MWe pressurized water reactor serves utilities, AI data centers, and industrial customers via technology licensing, FEED services, and its exclusive commercialization partner ENTRA1 Energy.
- Company typePublic
- Founded2007
- HeadquartersCorvallis, United States
- Headcount251–500
- GTM typeB2B
- OfferingHardware or Manufacturing
What NuScale Power does
NuScale Power (NYSE: SMR) is a U.S. nuclear-energy technology company that has developed the NuScale Power Module (NPM), a factory-built small modular reactor (SMR) based on pressurized water reactor technology. Each module generates 77 MWe (250 MWt), and plants are configurable in 4, 6, or 12-module layouts up to 924 MWe. The NPM is the first and only SMR to receive U.S. Nuclear Regulatory Commission design certification (Standard Design Approval in 2020, Design Certification in 2023, and a second SDA for the uprated module in 2025), and features a passively safe architecture that enables indefinite self-cooling without operator action, AC/DC power, or additional water. Manufacturing partners include Doosan Enerbility (forgings, reactor pressure vessels, steam generators), BWXT Canada (upper reactor pressure vessel fabrication), and Framatome (fuel assemblies), with supply contracts covering at least 444 fuel assemblies for U.S. customers by 2030. Over 800 patents are granted or pending across 21 countries.
NuScale monetizes its technology through four primary streams: (1) SMR technology licensing and royalties (illustrated by a $7.3 million license payment from Romania's RoPower project in Q1 2025), (2) Front-End Engineering and Design (FEED) and engineering services, (3) plant lifecycle services across licensing, construction, commissioning, and O&M, and (4) fuel assembly sales via Framatome. Pricing is project-specific and not publicly disclosed; transactions are structured as long-term power purchase agreements (PPAs), customer-operator leases, or customer-owner builds, channeled through ENTRA1 Energy, NuScale's exclusive global commercialization partner that finances, owns, and operates the plants. Direct enterprise sales target regulated utilities (TVA), state-backed nuclear operators (SN Nuclearelectrica/Romania), industrial process-heat users (petrochemicals, hydrogen), and hyperscale data center operators via behind-the-meter PPAs.
The company was founded in 2007 as an Oregon State University spin-out led by CTO Dr. José Reyes, with Fluor Corporation as founding investor from 2011. It went public in May 2022 via a SPAC merger with Spring Valley Acquisition Corp. at an enterprise value of approximately $1.9 billion (~$380 million in proceeds) under NYSE ticker SMR. Headquartered in Corvallis, Oregon with a new Houston operations center (opened April 2026), the company had $1 billion in liquidity and no long-term debt as of Q1 2026. Fluor fully divested its stake by April 2025 for cumulative proceeds of ~$2.43 billion. NuScale targets utilities replacing retiring coal capacity, AI data centers needing 24/7 carbon-free baseload, industrial process heat, and international SMR deployments across the U.S., Romania, Japan, and South Korea.
NuScale Power firmographics
Firmographics- Name
- NuScale Power
- Legal name
- NuScale Power, LLC
- Website
- https://nuscalepower.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- NuScale Power develops the NuScale Power Module, the first and only NRC-certified small modular reactor (SMR). The 77 MWe pressurized water reactor serves utilities, AI data centers, and industrial customers via technology licensing, FEED services, and its exclusive commercialization partner ENTRA1 Energy.
- Ownership category
- akta.pro rank
NuScale Power industry classification
Industry- Product category
- Small Modular Reactor (SMR) Nuclear Power Technology
- NAICS
- Nuclear Electric Power Generation (221113), Turbine and Turbine Generator Set Units Manufacturing (333611), Electric Power Generation (22111)
- SIC
- Special Industry Machinery, Nec (3559), Services-Commercial Physical & Biological Research (8731), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Small Modular Reactor (SMR) Platforms & Balance-of-Plant Integration (EUAKADAA)
- akta.pro secondary industries
- Small Modular Reactor (SMR) Power Generation (EUACADAF), Reactor Protection, Safety Systems & Engineered Safeguards (ECCS, Containment Isolation) (EUAKADAI), Reactor Vessel, Internals & Primary Circuit Components (RPV, piping, pumps, valves) (EUAKADAE), Quality Assurance / Quality Control (QA/QC) & Nuclear Codes Compliance (ASME, RCC-M, etc.) (EUAKAAAI)
Keywords
Where NuScale Power is headquartered
LocationHeadquarters
- HQ city
- Corvallis
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
NuScale Power business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- SMR Technology Licensing and Royalties: NuScale licenses its proprietary SMR technology to project developers and operators. Revenue derived from technology licensing agreements, engineering fees, and ongoing royalties from deployed modules. Previous notable license: $7.3 million technology license payment from Romania's RoPower project in Q1 2025.
- Engineering and FEED Services: Front-End Engineering and Design (FEED) services for project development. Phase 1 and Phase 2 FEED work completed for Doicești SMR plant in Romania. Engineering services covering licensing, construction and commissioning, and plant operations support.
- Plant Services: 11 services covering the full plant lifecycle including: startup and testing, ITAAC management, COLA management, mechanical handling and initial fuel load, initial training, design engineering management, O&M engineering, requalification training, procurement and spare parts, nuclear fuels and refueling, and system verification/validation.
- Fuel Fabrication: Revenue from fuel assembly supply through Framatome partnership. Expanded agreement includes at least 444 fuel assemblies for U.S. customer by 2030. Fuel assemblies use standard light water reactor (LWR) fuel in 17x17 configuration, 2 meters in length.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise nuclear power plant sales via long-term PPAs and project financing through ENTRA1 |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
NuScale Power product offering
Product offeringCore offering
NuScale Power designs, licenses, and supports deployment of its NuScale Power Module (NPM), a factory-built small modular nuclear reactor (SMR) that generates 77 MWe (250 MWt) per module and scales in 4-, 6-, or 12-module configurations up to 924 MWe. The company sells SMR technology licenses to utilities and project developers, delivers engineering and FEED services, supplies fuel assemblies through partners, and provides 11 plant lifecycle services covering licensing, construction, commissioning, operations, and maintenance.
Product overview
NuScale Power offers a single unified SMR technology product—the NuScale Power Module (NPM)—supplemented by training services (E2 Centers) and comprehensive plant lifecycle services. The NPM is the company's core offering: a pressurized water small modular reactor generating 77 MWe per module, scalable from 4 to 12 modules in standardized plant configurations. E2 Centers provide educational simulators for workforce training, while Plant Services offers 11 distinct service modules covering licensing, construction, commissioning, and operations & maintenance.
Differentiator
Problem solved
Functional benefit
Products and services
- NuScale Power Module (NPM) First and only NRC-approved small modular reactor design. Each module is a self-contained, factory-built pressurized water reactor producing 77 MWe (250 MWt) with passive walk-away safe safety systems. Deployed in 4-, 6-, or 12-module plant configurations up to 924 MWe. Sold via licensing to utilities and project developers.
- Energy Exploration (E2) Centers 12 hands-on SMR control room simulators located at universities worldwide that train students, researchers, and future operators on a 12-module plant simulator. Network includes Oregon State University, Texas A&M, University of Idaho, Ohio State, George Mason, South Carolina State, Rensselaer Polytechnic, UNLV, Ghana Atomic Commission, Seoul National University, University Politehnica of Bucharest, and UVA College at Wise.
- Plant Services 11 services covering the full plant lifecycle, including pre-COD offerings (startup and testing, ITAAC management, COLA management, mechanical handling and initial fuel load, initial training) and post-COD offerings (design engineering management, O&M engineering, requalification training, procurement and spare parts, nuclear fuels and refueling, system verification and validation).
- SMR Technology Licensing Licensing of proprietary SMR technology to project developers and operators. Revenue derived from technology licensing agreements, engineering fees, and ongoing royalties from deployed modules (e.g., $7.3 million technology license payment from Romania's RoPower project in Q1 2025).
- Engineering and FEED Services Front-End Engineering and Design (FEED) services for project development, covering licensing, construction and commissioning, and plant operations support.
- Nuclear Fuel Assemblies Fuel assembly supply through Framatome partnership, using standard light water reactor fuel in 17x17 configuration, 2 meters in length, with fuel enriched at less than 5%.
Quantifiable outcome
- >95% capacity factor with continuous 24/7 power generation
- +3 more outcomes
Companies that use NuScale Power
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles1 record
NuScale Power technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
NuScale Power partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered major, core and minor.
- Paragon Energy Solutions (Mirion Technologies)majorContract for final design of Highly Integrated Protection System (HIPS) covering Module Protection System (MPS), Safety Display and Indication System (SDIS), and Plant Protection System (PPS). Includes IV&V services for safety-critical nuclear software.
- Ebara Elliott EnergymajorR&D program to develop high-temperature steam compressors for industrial process heat applications in petrochemical settings. Field testing of commercial-scale compressor targeted for completion by 2027.
- ENTRA1 EnergycoreExclusive global commercialization partner for distribution and deployment of NuScale SMR technology. ENTRA1 develops, finances, owns, and operates SMR plants. Provides customized plant financing and operating structures including PPA, Customer Operator, and Customer Owner models. Leading TVA 6 GW program and Romania RoPower project.
- Doosan EnerbilitycoreInvestor and strategic supplier. Part of manufacturing team building NPM sub-assemblies. Completed manufacturability review in 2021 establishing manufacturing sequence and processes. Began forging production for first NPMs in 2023. Supplying reactor pressure vessels and steam generators for TVA project.
- FramatomecoreLongstanding partnership for fuel assembly design, testing, and manufacturing. Expanded agreement includes 444+ fuel assemblies for U.S. customer by 2030. Testing completed at KATHY facility in Germany and Richland Test Facility in Washington.
- Samsung C&T CorporationmajorInvestor and EPC contractor. Providing nuclear plant construction expertise. Participating in future power plant construction projects in Europe and Asia. EPC partner for TVA SMR program.
- Sargent & LundymajorArchitect-engineer support and development of standard plant design. Provided preliminary feasibility study for Armenia SMR deployment in cooperation with U.S. officials.
- BWXT CanadamajorModule fabrication partner. Design for manufacturing contract for NPM upper reactor pressure vessel and steam generator since 2019. Developing fabrication process for NuScale Power Module.
- JGC Holdings Corporationmajor$40 million investor and EPC partner with Fluor for deployment of NuScale technology in Asia and other agreed locations.
- Oak Ridge National LaboratoryminorCollaboration announced February 2026 to explore AI-guided nuclear fuel management. Utilizes AI-enabled nuclear design capabilities.
- Xcel EnergyminorExploring feasibility of Xcel Energy serving as plant operator at facilities powered by NuScale technology. No formal operating agreement yet in place.
Scale indicators14 records
Recent moves7 records
Expansion highlights7 records
NuScale Power competitors and assessment
Company assessmentDirect peers
- TerraPower: Bill Gates-founded advanced nuclear developer pursuing the Natrium sodium-cooled fast reactor with integrated energy storage. Direct peer to NuScale as a next-generation reactor developer targeting utility-scale carbon-free power with both pursuing NRC engagement and similar customer profiles.
- X-energy: Developer of the Xe-100 high-temperature gas-cooled SMR with Dow and Energy Northwest deployments. Direct peer competing for the same utility and industrial customers with a differentiated reactor technology but comparable NRC certification pathway.
- Rolls-Royce SMR: UK-based SMR developer with a 470 MWe pressurized water reactor design targeting UK deployment and international export. Direct competitor in the global SMR race with comparable factory-built modular approach and similar utility customer base.
- Holtec International: Developer of the SMR-160 small modular reactor leveraging Holtec's existing nuclear manufacturing and spent fuel storage capabilities. Direct peer in SMR development with overlapping customer interest in U.S. utility and industrial markets.
Broad incumbents
- GE Hitachi Nuclear Energy: Joint venture developing the BWRX-300 boiling water SMR within GE Vernova's broader nuclear portfolio. Broader incumbent leveraging established nuclear operations and large installed base to compete with NuScale in utility SMR market.
- Westinghouse Electric Company: Established nuclear OEM with AP1000 large reactor and eVinci microreactor in development. Broad incumbent with deep utility relationships and global EPC capability serving as both competitor and potential partner in SMR deployment.
- BWX Technologies (BWXT): Established nuclear components manufacturer and microreactor developer with naval nuclear fuel and component expertise. BWXT Canada already manufactures NPM upper reactor pressure vessels for NuScale, making it both a partner and a competitor in advanced reactor components.
Emerging players
- Last Energy: Early-stage developer of micro-scale SMRs targeting European industrial customers and behind-the-meter applications. Emerging player with similar go-to-market thesis to NuScale but smaller module size and different regulatory pathway.
- Oklo: Publicly traded advanced fission developer pursuing compact fast reactors for data center and remote site power. Emerging competitor targeting the same behind-the-meter and hyperscale data center opportunity that NuScale is pursuing through ENTRA1.
Others
- Centrus Energy: U.S. supplier of HALEU enrichment and uranium fuel for advanced reactors. Strategic enabler for the SMR industry (including NuScale) without directly competing in reactor design, supplying critical fuel inputs needed for advanced reactor deployment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
NuScale Power social profiles
Digital presenceNuScale Power compliance and trust
Trust signalCompliance3 records
NuScale Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
NuScale Power leadership team
Management profileNumber of profiles
Profiles20 records
NuScale Power funding detail
Funding detailFunding overview
Funding rounds7 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NuScale Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NuScale Power
What does NuScale Power do?
NuScale Power designs, licenses, and supports deployment of its NuScale Power Module (NPM), a factory-built small modular nuclear reactor (SMR) that generates 77 MWe (250 MWt) per module and scales in 4-, 6-, or 12-module configurations up to 924 MWe. The company sells SMR technology licenses to utilities and project developers, delivers engineering and FEED services, supplies fuel assemblies through partners, and provides 11 plant lifecycle services covering licensing, construction, commissioning, operations, and maintenance.
Is NuScale Power a public or private company?
NuScale Power is a public company. It is classified as public and is currently operating.
When was NuScale Power founded?
NuScale Power was founded in 2007. It employs 251 to 500 people.
Where is NuScale Power based?
NuScale Power is headquartered in Corvallis, United States, in the North America region.
How does NuScale Power make money?
Four revenue lines are on record. SMR Technology Licensing and Royalties are the primary driver. The others are engineering and FEED Services, plant Services and fuel Fabrication.
Who are NuScale Power's main competitors?
Direct peers on record are TerraPower, X-energy, Rolls-Royce SMR and Holtec International. Broad incumbents are GE Hitachi Nuclear Energy, Westinghouse Electric Company and BWX Technologies (BWXT). Emerging players are Last Energy and Oklo. Centrus Energy is listed as an others.
Does NuScale Power have an API?
No public API is recorded for NuScale Power.
What industry is NuScale Power in?
NuScale Power's product category is Small Modular Reactor (SMR) Nuclear Power Technology. Its primary akta.pro industry code is EUAKADAA, Small Modular Reactor (SMR) Platforms & Balance-of-Plant Integration, with a secondary code of EUACADAF, Small Modular Reactor (SMR) Power Generation. Its NAICS code is 221113 and its SIC code is 3559.