Modular Nuclear Reactor

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  1. Fluor enters small modular nuclear reactor market as majority investor in NuScale Power

    Source: Fluor Corporation Fluor Corporation ( NYSE:FLR ) announced that the company has committed to making an investment exceeding $30 million in NuScale Power LLC., an Oregon-based nuclear powered small modular reactor (SMR) technology company. The announcement was made today in Washington D.C. at the National Press Club by Fluor and NuScale executives with key members of the U.S. House of Representatives along with industry and regulatory leaders in attendance.  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. Additionally, 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.  NuScale Power is an Oregon corporation with more than 70 employees that is commercializing a small, modular reactor (SMR) technology. The initial concept for NuScale's highly innovative, inherently safe SMR technology was developed from 2000-2003 at Oregon State University with funding provided by the U.S. Department of Energy. With the support of Fluor, NuScale expects to bring its technology to market in a timely manner.  "Fluor's history of accomplishment and success in the nuclear industry combined with NuScale's innovative and safe nuclear technology will provide our customers with a very competitive option," said John Hopkins, Fluor Corporation's group executive for Corporate Development and New Ventures. "Today's new energy marketplace is dynamic and requires power generationdiversification and technological innovation for continued success. Our investment is a synergistic fit for our EPC business and positions us well for future new-build energy needs. At the same time, we view this investment as an excellent financial deal with great upside growth potential."  Fluor has a strong 60-plus-year history in the nuclear new-build market--having designed, built or provided construction support for 20 units in the United States. Pairing Fluor's world class engineering, procurement, construction (EPC) expertise with NuScale's safe and economical small modular reactor (SMR) technology, positions both companies as global leaders in the global new-build nuclear market.  "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 officer of NuScale. "Importantly, Fluor's confidence in NuScale's technology after its extensive due diligence sends a signal that together, we intend to be the leaders in bringing small, modular reactors to market."  "This collaboration is vital to utilities that are exploring nuclear energy as an option to diversify their future generation portfolio," said Bill Fehrman, president and CEO, MidAmerican Energy Company, based in Des Moines, Iowa. "This combined effort between Fluor and NuScale is another strong signal that small modular reactor technology will be a viable alternative for the next generation of nuclear energy deployment."  MidAmerican Energy is one of 11 major utilities in the U.S. and Canada serving on NuScale Power's customer advisory board. The board is conferring with NuScale on ways the company's technology can best meet the needs of electric utilities in an increasingly dynamic energy environment.                 For Email Newsletters you can trust  

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    Thu, 13 Oct 2011

  2. FirstEnergy examines potential deployment of B&W small modular nuclear reactor

    Babcock & Wilcox and FirstEnergy announce Memorandum of Understanding regarding studies on the potential deployment of the B&W mPower small modular nuclear reactor in FirstEnergy's service territory.

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    Thu, 26 Jul 2012

  3. B&W small modular nuclear reactor project wins DOE funds

    The first installment of $79 million was allocated by the DOE upon the signing of a formal agreement with B&W mPower in April 2013

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    Wed, 28 Aug 2013

  4. NuScale Power conducts fuel test for small modular nuclear reactor

    As part of its design certification efforts, NuScale Power, LLC completed a test program to obtain heat flux data for its nuclear fuel

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    Tue, 9 Apr 2013

  1. B&W to scale back small modular nuclear reactor program

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    Mon, 14 Apr 2014

  2. Modular nuclear reactor company gets $30mn boost from Fluor

    Fluor Corp. 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.

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    Thu, 13 Oct 2011

  3. Small modular nuclear reactor test facility enters full operating conditions

    The Babcock & Wilcox Co. on July 18 said its B&W mPower reactor Integrated System Test (IST) facility has achieved full operating conditions.

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    Wed, 18 Jul 2012

  4. Babcock & Wilcoxs small modular nuclear reactor testing facility secures $5MM grant

    The Babcock & Wilcox Company announced that it has received a $5 million grant from the Virginia Tobacco Indemnification and Community Revitalization Commission for its Integrated System Test facility in Bedford County, Va.

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    Mon, 11 Apr 2011

  5. Westinghouse announces small modular nuclear reactor

    The Westinghouse SMR design uses passive safety systems and other technology to achieve safe electric generation

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    Mon, 21 Feb 2011

  6. Companies to pursue small modular nuclear reactor development

    NuScale Power LLC, and NuHub, an economic development initiative in Columbia, S.C., said they will work together to pursue a small modular reactor project (SMR) at the Savannah River Site in South Carolina.

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    Wed, 11 Apr 2012

  7. Westinghouse unveils its small modular nuclear reactor design

    Celebrating its 125th Anniversary and leveraging more than half a century of advanced nuclear reactor experience, Westinghouse Electric Company achieves yet another milestone in energy history with the introduction of its small modular reactor.

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    Thu, 17 Feb 2011

  8. B&W dedicate small modular nuclear reactor testing facility; testing to begin end of 2011

    The Babcock & Wilcox Company and Generation mPower LLC will dedicate the unique B&W mPower™ Integrated System Test facility in Bedford County, Va.

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    Fri, 30 Sep 2011

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