SMR company NuScale pivots from development to delivery
20 June 2022
NuScale Power has announced it is making a strategic shift from product development to product delivery as commercialisation of its VOYGR small modular reactor (SMR) power plants approaches.
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How the first VOYGR-6 plant at Idaho National Laboratory might look (Image: UAMPS)
The Portland, Oregon-based company is setting up the VOYGR Services and Delivery business unit which it says will be dedicated to working with customers and tasked with the delivery of services and equipment associated with the sale, development, delivery, and commercial operation of VOYGR power plants.
In May, NuScale Power merged with Spring Valley Acquisition Corp to become the world's first publicly traded company focused on the design and deployment of SMR technology and today said that development, together with the newly announced strategic shift, will "bolster and accelerate" commercialisation of its technology.
Customer-centric restructuring is also a critical step in preparing to scale and meet rapidly growing global demand, the company added. The placement of long-lead equipment orders for Utah Associated Municipal Power Systems' (UAMPS) Carbon Free Power Project - a six-unit VOYGR plant which is to be built at a site at Idaho National Laboratory - plus "landmark customer engagements" in Poland and Romania "underscore the need for a proactive restructuring to ensure the efficient and effective delivery of NuScale's contractual obligations for customer projects," it said.
President and CEO John Hopkins said positioning NuScale towards product delivery is a "natural and exciting" next step for the company. Thomas Mundy, currently NuScale's chief commercial officer, is to become president of the new business unit.
The NuScale Power Module, a pressurised water reactor with all the components for steam generation and heat exchange incorporated into a single 77 MWe unit, is the first SMR design to receive approval from the US Nuclear Regulatory Commission. A 12-module VOYGR-12 power plant is capable of generating 924 MWe; the company also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.
Researched and written by World Nuclear News