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NuScale Power Corporation (NYSE: SMR) is a leading provider of advanced small modular reactor (SMR) nuclear technology. The company specializes in delivering scalable, safe, and reliable carbon-free energy solutions to support the global energy transition. Its primary offering is the NuScale Power Module (NPM), a modular nuclear reactor designed for diverse applications such as electricity generation, district heating, and hydrogen production.
- NuScale Power Module (NPM) - Develops and commercializes modular, scalable nuclear reactors capable of generating 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross). These reactors are designed for applications including electrical generation, district heating, desalination, and hydrogen production.
- Engineering and Licensing Services - Provides engineering, design, and licensing services to support the development and deployment of nuclear power plants based on its proprietary SMR technology.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John L. Hopkins ExecutiveBoard | Chief Executive Officer | Executive Committee of United States Chamber of Commerce; Audit Committee of United States Chamber of Commerce; Compensation Committee of United States Chamber of Commerce; Nuclear Energy Institute Executive Committee; Atlantic Council Energy Task Force Member; Group of Vienna Energy Task Force Member | CEO of NuScale Power since December 2012, previously served as Executive Chairman from December 2012 to December 2021. | View Report → |
Carl Fisher Executive | Chief Operating Officer (COO) | Carl Fisher joined NuScale Power Corporation as the Chief Operating Officer on July 24, 2023, leading operations, engineering, project management, and related functions. Previously, he held significant leadership roles in the nuclear industry, including at Framatome and Duke Energy International. | ||
Carrie Fosaaen Executive | Vice President of Regulatory Affairs | Carrie Fosaaen is the Vice President of Regulatory Affairs at SMR since June 2023, having joined the company as a Licensing Engineer in 2015 with over 14 years of nuclear industry experience. | ||
Clayton Scott Executive | Chief Commercial Officer | Clayton Scott is the Chief Commercial Officer at SMR since August 2023. Previously, he served as the Executive Vice President of Business Development beginning January 10, 2022. | ||
Jackie Engel Executive | Interim Vice President of Accounting | Jackie Engel is currently the Interim Vice President of Accounting at SMR, having assumed the role in January 2024. She has over 30 years of experience in accounting and financial compliance, and joined NuScale in 2016. | ||
José N. Reyes Executive | Chief Technology Officer | José N. Reyes, Ph.D. is the co-founder and Chief Technology Officer (CTO) of NuScale Power, LLC since 2007. He is renowned for his expertise in passive safety system design and nuclear reactor technology. | ||
Karin Feldman Executive | Senior Vice President, Product and Project Delivery | Karin Feldman is a seasoned nuclear engineer and executive at SMR, having held key roles including Interim COO/CNO (from January 6, 2023 to July 24, 2023) and Vice President, Program Management Office (since January 2019) before being promoted to Senior Vice President, Product and Project Delivery on December 31, 2024. | ||
Robert Gamble Executive | Vice President of Engineering | Robert Gamble, Ph.D., has served as NuScale's Vice President of Engineering since 2016, where he leads the design of advanced SMR technologies including key reactor systems and safety analysis. He has also demonstrated significant leadership in his previous roles at Areva Solar and GE Nuclear Energy. | ||
Robert Ramsey Hamady Executive | Chief Financial Officer (CFO) | Robert Ramsey Hamady is the Chief Financial Officer (CFO) at NuScale Power Corporation since August 2023, responsible for financial leadership, risk management, and capital markets engagement. He has an extensive financial background with previous CFO roles at Equify Financial and Western Magnesium Corporation. | ||
Alan L. Boeckmann Board | Non-Executive Chairman of the Board | Alan L. Boeckmann is an experienced industry leader with prior roles as CEO and Chairman at Fluor Corporation, bringing extensive expertise to NuScale. He joined SMR’s Board on December 3, 2020 and assumed his current role as Non-Executive Chairman effective January 15, 2025. | ||
Alvin C. Collins Board | Board Member and Chair of the Executive Committee | Group President of Corporate Development and Sustainability at Fluor Corporation | Alvin C. Collins, III has served on the board of NuScale Power Corporation (SMR) as the Chair of the Executive Committee since February 25, 2021. He is also the Group President of Corporate Development and Sustainability at Fluor Corporation since January 2021. | |
Bum Jin Chung Board | Director | Professor in the Nuclear Engineering Department at Kyung Hee University since March 2013; Member of the Electricity Policy Review Committee since September 2016; Member of the Energy Committee at the Korean Ministry of Commerce, Industry and Energy since September 2022 | Bum Jin Chung has served as a Director on the Board at SMR since December 2022 and is an independent director with deep technical expertise in nuclear engineering. He is also a Professor in the Nuclear Engineering Department at Kyung Hee University since March 2013, providing him broad insights into nuclear research and energy strategy. | |
Diana J. Walters Board | Board of Directors | Atmos Energy (Board Member); Trilogy Metals Inc. (Board Member); Platinum Group Metals Limited (Board Member and Chair); Independence Point Advisors (Senior Advisor) | Diana J. Walters has over 35 years of experience in the natural resources sector. She currently serves on the Board of Directors and Audit Committee at SMR since December 20, 2024. | |
Jim Breuer Board | Board Director | Group President of Fluor Corporation’s Energy Solutions business | Jim Breuer has served as a board director at NuScale Power Corporation (SMR) since December 19, 2023. He is a seasoned professional with extensive industry experience and also serves as the Group President of Fluor Corporation’s Energy Solutions business since 2021. | |
Kent Kresa Board | Board Member and Audit Committee Chair | Kent Kresa has served on the board of NuScale Power Corporation since August 2019 as the Audit Committee Chair, bringing significant financial expertise. He has extensive leadership experience from prior roles, including serving on the Audit Committees at General Motors Corporation and Fluor Corporation. | ||
Kimberly O. Warnica Board | Independent Director | Executive Vice President and Chief Legal Officer at APA Corporation | Kimberly O. Warnica has served on the board of NuScale Power Corporation (SMR) as an independent director since May 2022 and is a member of the Audit Committee and Nominating and Governance Committee. She also holds an executive role outside SMR as the Executive Vice President and Chief Legal Officer at APA Corporation since January 2025. | |
Shinji Fujino Board | Board Member | Senior Advisor at Unison Capital, Inc.; CEO of Protein Immuno-Engineering Laboratories, Inc. | Shinji Fujino has served on the Board of Directors of NuScale Power Corporation since December 2022. His extensive career includes leadership roles at JBIC and METI, contributing significant strategic expertise to the energy sector. |
- Given your cautious approach to providing guidance on future revenue, how are you managing cash flow predictability for the RoPower FEED study revenue, especially considering the potential front-loading and deferral cadence mentioned previously?
- You highlighted complexities in finalizing long-term power purchase agreements with data center operators; what are the key bottlenecks you face in these negotiations and how do you plan to overcome them?
- With additional long lead materials already ordered for 12 modules despite no confirmed customer orders, what contingency measures are in place should there be delays or cancellations in customer commitments?
- Considering the near-term deployable status of your SMR technology and the ongoing process to upgrade to a 77-megawatt design, what regulatory or operational hurdles could potentially delay the approval or deployment of this enhanced module?
- You mentioned that you are cautiously evaluating the $800 million Gen 3 grant opportunity; can you elaborate on the specific conditions or risks that would influence your decision to participate and how it might impact your capital allocation strategy?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Rosatom | Competitors in Russia currently operate commercial SMRs in those countries. Although their SMR designs have not been approved by the NRC or in any jurisdiction outside of their native countries, those competitors may have a competitive advantage if they are able to obtain approval comparable to the NRC’s SDA, or if they can otherwise demonstrate to potential customers the value and benefits of their SMRs, particularly in jurisdictions that have less stringent regulatory requirements. In addition, these competitors may have access to greater government or other funding to develop and commercialize their SMRs than we do. |
China National Nuclear Corporation | Competitors in China currently operate commercial SMRs in those countries. Although their SMR designs have not been approved by the NRC or in any jurisdiction outside of their native countries, those competitors may have a competitive advantage if they are able to obtain approval comparable to the NRC’s SDA, or if they can otherwise demonstrate to potential customers the value and benefits of their SMRs, particularly in jurisdictions that have less stringent regulatory requirements. In addition, these competitors may have access to greater government or other funding to develop and commercialize their SMRs than we do. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Fluor | Largest stockholder & EPC partner | All |
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Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
NuScale LLC | 2022 | NuScale LLC was acquired via a reverse recapitalization merger with Spring Valley Acquisition Corp., resulting in the formation of NuScale Power Corporation and using an "Up‑C" structure; the deal involved $341.46M in cash (including $235M PIPE funding and $145.525M in trust cash) with detailed conversion mechanics for preferred units and a structured post-merger ownership distribution. |
Recent press releases and 8-K filings for SMR.
- 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.
- 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.