Modular nuclear reactor company gets $30mn boost from Fluor

Fluor Corp. (NYSE: FLR) said that the company has committed to making an investment exceeding $30 million in NuScale Power LLC., an Oregon-based small modular reactor (SMR) technology company.

As part of its investment, Fluor has purchased the company’s shares that had previously been in U.S. Securities & Exchange Commission (SEC) receivership and has become NuScale’s majority shareholder. Going forward, NuScale will continue to operate as an independent company.

“Fluor’s investment in NuScale coupled with our contractual relationship enables NuScale to move ahead in a stronger position than ever with the backing of a major player in the global nuclear energy industry," said Paul Lorenzini, chief executive officers of NuScale.

Fluor and NuScale have entered into a separate contractual arrangement whereby Fluor will provide certain services to NuScale as well as have exclusive rights to provide engineering and construction services for future NuScale SMR facilities.

Subscribe to Nuclear Power International magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...