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NuScale says it has implemented a series of strategic initiatives “to better align resources with the Company’s primary objective of transitioning towards commercialisation and revenue-producing commercial contracts”. These actions further long-term financial stability by generating $50 to $60m in annualised savings, starting in the second quarter of 2024.

Date: Thursday, 16 May 2024
Original article: neimagazine.com/news/newsnuscale-power-announces-first-quarter-2024-financial-results-11773317

Reporting its fourth quarter and full year results for 2023, US-based NuScale Power said progress continued toward “commercialisation of small modular reactor (SMR) technology to meet consumer demand for safe, reliable, 24/7 and carbon-free baseload energy”.

Date: Wednesday, 20 March 2024
Original article: neimagazine.com/news/newsnuscales-2023-financial-results-11612567

The Nuclear Energy Agency (NEA) has published the second edition of its Small Modular Reactor Dashboard which tracks the progress of selected small modular reactor (SMR) designs towards deployment. NEA says the SMR designs are at various stages of development, from fundamental research on new concepts to commercial deployment and operation of mature designs.

Date: Saturday, 02 March 2024
Original article: neimagazine.com/news/newsnea-launches-second-edition-of-its-small-modular-reactor-dashboard-11561305

Canadian firm Prodigy Clean Energy and US-based Westinghouse are designing a transportable NPP (TNPP) featuring a Westinghouse eVinci microreactor with the aim of launching the first project in Canada by 2030. The TNPP will comprise 5 MWe eVinci microreactors installed on a floating Prodigy Microreactor Power Station. According to a Westinghouse blog, the TNPP would be pre-fabricated and transported to site to supply power and heat to “remote industrial sites, data centres, communities, defence installations, and to islands and island nations”.

Date: Friday, 26 January 2024
Original article: neimagazine.com/news/newsprodigy-and-westinghouse-to-develop-floating-npp-11463584

US-based NuScale is laying off 28% of its workforce in a decision taken at a virtual all-hands meeting. A NuScale statment confirmed the details of the layoffs. NuScale’s stock price subsequently fell by more than 8% as investors sold off shares.

Date: Wednesday, 10 January 2024
Original article: neimagazine.com/news/newsnuscale-lays-off-almost-half-its-workforce-11422870

A recent statement from Fitch Ratings casts doubt on any new nuclear construction in the US in the immediate future. Similar concerns were voiced during discussions at a full committee hearing of the Senate Committee on Energy & Natural Resources to Examine Opportunities and Challenges Associated with Advanced Nuclear Reactor Commercialisation.

Date: Wednesday, 06 December 2023
Original article: neimagazine.com/news/newsgrowing-uncertainty-in-us-regarding-economics-of-new-nuclear-11347683

US-based NuScale Power Corporation has opened the first privately-funded NuScale Energy Exploration Centre (E2 Centre) in Asia at Seoul National University (SNU) in partnership with GS Energy Corporation, Doosan Enerbility, and Samsung C&T Corporation. It will be used as a development tool for South Korea to develop the next generation of advanced nuclear experts, technologists, and operators. NuScale said this will position South Korea to become a regional leader of small modular reactor (SMR) deployment in Asia.

Date: Saturday, 18 November 2023
Original article: neimagazine.com/news/newsseoul-national-university-opens-nuscale-power-energy-exploration-centre-11306219

The termination of the project that had been expected to be the first operational NuScale SMR reactor was "very disappointing" but the company remains bullish about the future, according to the company's CEO.

Date: Friday, 17 November 2023
Original article: world-nuclear-news.org/Articles/NuScale-CEO-remains-upbeat-after-CFPP-cancellation

Utah Associated Municipal Power Systems (UAMPS) and Oregon-based NuScale Power have mutually agreed to terminate the Carbon Free Power Project (CFPP). The project envisaged construction of six small modular reactors (SMRs) at the US Department of Energy's (DOE’s) Idaho National Laboratory (INL). “Despite significant efforts by both parties to advance the CFPP, it appears unlikely that the project will have enough subscription to continue toward deployment.” A joint statement said. “Therefore, UAMPS and NuScale have mutually determined that ending the project is the most prudent decision for both parties.”

Date: Wednesday, 15 November 2023
Original article: neimagazine.com/news/newsuamps-and-nuscale-cancel-plans-to-build-smrs-at-inl-11297083