In the race to develop small modular nuclear reaction technology, NuScale Power just took the lead. Last week, NuScale Power struck a deal to go public on the Nasdaq via a SPAC merger with Spring Valley Acquisition Corporation (SV).
Small modular reactors, otherwise known as SMRs, are a type of nuclear fission reactor that features a compact and simplified design that can be as small as one-tenth the size of conventional nuclear reactors. SMRs are also claimed to be safer and require less staffing than traditional reactors.
NuScale Power’s SPAC merger will give it a $1.9b valuation and infuse it with $413m in cash proceeds, which will be used to advance its SMR technology as well as achieve positive cash flow.
Why it matters
SMRs are the cutting edge of nuclear technology and are purported to cross the financial and safety barriers that prohibit the widespread use of conventional reactors. Driven by companies like NuScale Power, SMR technology could one day become the most clean and eco-friendly way of generating power.
