NuScale Power surges as Korea's Doosan reportedly to supply nuclear equipment
May 28, 2024 10:43 AM ETNuScale Power Corporation (SMR) StockBy: Carl Surran, SA News Editor
NuScale Power (NYSE:SMR) +13.8% in Tuesday's trading to its highest in more than two months following reports that South Korean heavy equipment manufacturer Doosan Enerbility secured orders totaling 2T won ($1.46B) for NuScale's small modular reactor project in the U.S.
NuScale (SMR) reportedly is in the final stages of a multi-billion-dollar deal to supply 24 SMRs to Standard Power, a U.S. information technology infrastructure firm, starting in 2029.
NuScale (SMR) is said to be working on details of the deal with Standard Power, with an announcement expected over the next few weeks.
As part of the deal, Doosan reportedly has agreed to supply reactors, steam generator tubes and other key components for NuScale's (SMR) construction project.
Doosan invested $104M in NuScale (SMR) during 2019-21 and agreed to supply key components for its projects, and the Korean company has since established the world's first dedicated SMR production line.
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