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.

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