GS Energy involvement follows moves by Japan firms in early 2021 A computer-generated image of a NuScale SMR nuclear power plant. Courtesy NuScale. NuScale Power announced today that it has signed an investment agreement with GS Energy North America Investments, the US-based branch of South Korea’s GS Energy Group, in a move which “will support future deployments” of NuScale’s small modular reactor (SMR) designs.

Oregon-based NuScale said in a statement that the agreement with GS Energy is “a significant step” towards commercialising the company’s SMR technology and “continues the strong momentum of investments” NuScale has secured in recent months.

The statement said that GS Energy will provide a cash investment in NuScale and support deployment of NuScale plants, while the two firms will also look to develop regional NuScale power plant service delivery opportunities.

The amount of investment under the agreement remained undisclosed.

In April 2021, NuScale secured a $40m cash investment from Japan’s JGC Holdings, followed by another $20m from Japan’s IHI Corporation in May.

NuScale has signed agreements with potential customers interested in deploying its SMR technology in 11 countries, including US, Canada, Romania, the Czech Republic, Bulgaria, Ukraine and Jordan.

In August 2020, NuScale’s SMR became the first and only design so far to receive approval from the US Nuclear Regulatory Commission.

The NuScale SMR is a light-water reactor plant intended to supply energy for electrical generation, district heating, desalination, and process heat applications. It features a fully factory-fabricated NuScale power module capable of generating 60 MW of electricity using what NuScale says is a safer, smaller, and scalable version of pressurised water reactor technology.

Date: Thursday, 01 July 2021
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