NUSCALE POWER (SMR) Company Report

NuScale Power Corporation entered into a new Sales Agreement on November 7, 2025, to establish an at-the-market (ATM) offering program.
This program allows the company to offer and sell up to $750,000,000 in shares of its Class A common stock.
The sales agents for this offering include UBS Securities LLC, TD Securities (USA) LLC, B. Riley Securities, Inc., Canaccord Genuity LLC, and Tuohy Brothers Investment Research, Inc..
Sales agents will receive a commission of up to 3% of the gross sales proceeds.
Concurrently, the company terminated its prior at-the-market offering program, which was dated August 11, 2025.

Nov 7, 2025, 2:10 PM

8-K

NuScale Announces Landmark SMR Deployment Agreement and Increased Liquidity in Q3 2025

SMR

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

NuScale announced a landmark agreement with Inter One Energy and the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts of new nuclear capacity, equivalent to approximately 72 NuScale power modules, with the first plant expected to deliver power as early as 2030.
The company's liquidity significantly increased to $753.8 million as of September 30, 2025, up from $489.9 million at June 30, 2025, primarily due to $475.2 million in gross proceeds from a Class A share sale.
NuScale reported $8.2 million in revenue for Q3 2025, a substantial increase from $500,000 in the same period last year, mainly from services provided for the RoPower project.
Inter One Energy is positioned to receive up to $25 billion in investment capital under the U.S.-Japan framework agreement to develop a fleet of power plants utilizing baseload energy sources.
NuScale continues work on the RoPower Dorchester power plant project, with a final investment decision anticipated in late 2026 or early 2027.

Nov 6, 2025, 10:00 PM

Transcript

NuScale Power Announces Major SMR Deployment Agreement and Q3 2025 Financial Updates

SMR

Earnings

New Projects/Investments

NuScale Power announced a landmark agreement between the Tennessee Valley Authority (TVA) and ENTRA1 Energy to develop plants with up to 6 GWe of new nuclear power generation capacity, equivalent to approximately 72 NuScale Power Modules, marking the largest SMR deployment program in U.S. history.
The company entered into a Partnership Milestones Agreement with ENTRA1 on August 27, 2025, which defines a contribution amount payable for each NuScale Power Module™ anticipated to be placed in a project or power plant.
NuScale reported total revenue of $8.2 million for Q3 2025, primarily from engineering and licensing fees related to the RoPower project.
The company significantly increased its liquidity, generating $475.2 million in gross proceeds during the third quarter through an at-the-market (ATM) program.

Nov 6, 2025, 10:00 PM

Presentation

NuScale Power Reports Q3 2025 Results and Announces Key Strategic Developments

SMR

Earnings

New Projects/Investments

NuScale Power reported a net loss of $(532.6) million and a loss per share of $(1.85) for the third quarter ended September 30, 2025. This included a significant increase in general and administrative expenses due to the recognition of Milestone Contribution 1 of $495.0 million under the Partnership Milestones Agreement with ENTRA1.
The company maintained a strong liquidity position, ending Q3 2025 with $753.8 million in cash, cash equivalents, and short- and long-term investments. NuScale also generated $475.2 million in gross proceeds from selling 13.2 million shares through an at-the-market program during the quarter.
NuScale's exclusive global strategic partner, ENTRA1 Energy, signed a landmark agreement with the Tennessee Valley Authority (TVA) to deploy up to six gigawatts of NuScale small modular reactor (SMR) capacity, which is noted as the largest SMR deployment program in U.S. history.
NuScale and Fluor Corporation reached an agreement for Fluor to convert its remaining Class B units into Class A common stock and commence a structured monetization of its stake, with completion anticipated by the end of the second quarter of 2026.

Nov 6, 2025, 9:35 PM

8-K

ASP Isotopes' UK Subsidiary Begins Regulatory Engagement for HALEU Production

SMR

New Projects/Investments

Hiring

ASP Isotopes Inc.'s UK subsidiary, Quantum Leap Energy Ltd (QLE Ltd), has formally commenced early engagement for regulatory pathways with the UK's regulators on new nuclear projects as of November 5, 2025.
Following successful national security due diligence, QLE Ltd is now eligible to engage with the Office for Nuclear Regulation (ONR), setting it on the path to be the first commercial producer of High-Assay Low Enriched Uranium (HALEU) in the UK.
Rich Deakin joined QLE Ltd as Senior Vice President and Managing Director, UK Strategic Projects, bringing over 35 years of experience across civil and defense nuclear sectors.
Internal estimates suggest a potential pathway to full licensing for HALEU production is achievable within this decade, subject to regulatory and site-specific progress.

Nov 5, 2025, 1:00 PM

Press Release

NuScale Power Enters New At-The-Market Offering Program

SMR

On August 11, 2025, NuScale Power Corporation entered into a new Sales Agreement for an at-the-market offering program.
This program allows the company to offer and sell shares of its Class A common stock with an aggregate offering price of up to $500,000,000.
The sales agents for this program include UBS Securities LLC, TD Securities (USA) LLC, B. Riley Securities, Inc., Canaccord Genuity LLC, and Tuohy Brothers Investment Research, Inc..
NuScale Power Corporation will pay the sales agents a commission of up to 3% of the gross sales proceeds from any shares sold through them.
In connection with this new agreement, the company terminated its prior sales agreement, dated November 8, 2024.

Aug 11, 2025, 12:00 AM

8-K

Eagle Energy Metals to Go Public via Merger with Spring Valley Acquisition Corp. II

SMR

M&A

New Projects/Investments

Convertible Preferred Issuance

Eagle Energy Metals Corp., a nuclear energy company with rights to the largest mineable, measured and indicated uranium deposit in the U.S. and proprietary Small Modular Reactor (SMR) technology, has entered into a definitive merger agreement with Spring Valley Acquisition Corp. II (SVII) to go public.
The proposed business combination values Eagle at a pro-forma equity value of $312 million.
A fundamental institutional investor is committed to invest approximately $30 million in Series A Convertible Preferred Stock at closing.
The transaction includes no minimum cash condition and is expected to be completed in late 2025.
Eagle's Aurora deposit has a near-surface resource of over 50 million pounds of uranium, with a pre-feasibility study targeted to commence in 2026.

Jul 31, 2025, 12:43 PM

Press Release

NuScale Power Achieves NRC Approval for Uprated SMR Design

SMR

New Projects/Investments

NuScale Power Corporation received NRC approval for its uprated 77 MWe small modular reactor design, an increase from its previously-approved 50 MWe version, marking a significant advancement in safe, scalable clean energy technology.
The approval strengthens its strategic partnership with ENTRA1 Energy, which holds exclusive global rights to commercialize and deploy the technology, with deployment anticipated by 2030.

May 29, 2025, 12:00 AM

8-K

NuScale Power Reports Q4 2024 Financial, Operational, and Project Advances

SMR

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

Financial Performance: In Q4 2024, NuScale reported $34.2M in revenue and a net loss of $180.3M; warrant exercises generated $227.7M in cash proceeds supporting a Q4 cash position of $446.7M, while warrant redemptions contributed to a full‐year non‐cash warrant expense of $223.0M.
Liquidity Improvement: Cash, equivalents, and short‐term investments rose from $137.1M in Q1 2024 to $446.7M in Q4 2024, demonstrating strengthened liquidity.
Operational Efficiency Gains: Reduced average quarterly operating expenses from $69.9M (2023) to $42.7M in 2024, achieving annualized savings of $108.6M and initiating production on 12 modules.
Strategic Project Advances: Advanced the RoPower Doicești project with significant progress on the FEED study and initiated FEED Phase 2 for a 6‐module SMR plant in Romania along with a 77 MW module upgrade, positioning NuScale as the sole near‐term deployable SMR.

Mar 3, 2025, 12:00 AM

Transcript Presentation 8-K

NuScale Power Announces Leadership Changes

SMR

Board Change

Management Change

NuScale Power Corporation announced significant leadership changes by appointing Alan Boeckmann as Non-Executive Chairman effective January 15, 2025, after Jim Hackett resigned and the board was reduced from 10 to 9 directors.
The release provided Investor Relations contact Scott Kozak and Media contact Chuck Goodnight for further inquiries.