NuScale Power has finalized an investment and strategic partnership agreement with JGC Holdings Corporation (JGC HD), a holding company of the world’s leading EPC contractor group companies headquartered in Japan. As part of a commercial relationship with Fluor Corporation—NuScale’s majority investor and EPC partner in the United States—JGC HD will provide a $40-0million cash investment in NuScale Power and partner with Fluor on the deployment of NuScale Power Plants.
The announcement marks the first commercial relationship and investment in NuScale Power from a Japanese-based company and is indicative of growing Japanese and global interest in NuScale’s groundbreaking small modular reactor (SMR) technology, the company said.
NuScale’s SMR design received approval from the US Nuclear Regulatory Commission in 2020—the only SMR design yet to do so. NuScale says it maintains strong momentum towards the commercialization of its SMR technology by the end of this decade. NuScale and Fluor are currently working for Utah Associated Municipal Power Systems (UAMPS) to bring the world’s first clean energy, carbon-free SMR project to commercialization.
NuScale Power continues to field growing domestic and international customer interest from those who see the NuScale power plant as a long-term solution for providing reliable, safe, affordable, and operationally flexible carbon-free energy for diverse applications. NuScale has signed and announced agreements with entities in the US and internationally.
NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology.
NuScale’s scalable design—power plants can house up to four, six, or 12 individual power modules.
JGC Holdings Corporation is a holding company comprising world-leading EPC contractor group companies as well as functional materials manufacturing companies. JGC Corporation, its main subsidiary, is an overseas EPC contractor committed to delivering a complete range of project services to our clients, while providing safe and cost-effective project execution. Since its founding in 1928, the JGC Group has executed some 20,000 projects of all sizes across the globe for the oil refining, LNG, petrochemical, power, nuclear, pharmaceutical, and mining industries.