NuScale to go public for modular nuclear reactor
Portland-based NuScale Power plans to go public as a means of obtaining the funds it need to build its inaugural nuclear power plant.
NuScale, founded in 2007, has developed a small, modular nuclear reactor, which it claims will be safer to operate as well as cheaper to build than conventional nuclear power plants.
Development of the technology that NuScale is based upon began in 2002 at Oregon State. Due to its modular design, utilities have the option of construction a small-scale and relatively inexpensive plant or combine several modules to create a large facility.
In 2011 a majority stake in the company was sold for $30 million and since then, over $1 billion has been raised through private and government funding, yet billions of additional dollars will be needed to build the first plant.
When one company becomes a subsidiary of another a slight change in logo design is frequently made to the subordinated company’s logo.
Recently, Guggenheim Partners, the company’s financial advisor announced that NuScale was going public using a SPAC or special purpose acquisition company. Whether this will be sufficient for the company’s financing needs remains to be seen.
NuScale received the United States Nuclear Regulatory Commission’s design approval last year yet still needs several additional levels of federal approval before construction can begin.
The company is hopeful that it will have its first plant operational at the Idaho National Laboratory before 2030.
NuScale, founded in 2007, has developed a small, modular nuclear reactor, which it claims will be safer to operate as well as cheaper to build than conventional nuclear power plants.
Development of the technology that NuScale is based upon began in 2002 at Oregon State. Due to its modular design, utilities have the option of construction a small-scale and relatively inexpensive plant or combine several modules to create a large facility.
In 2011 a majority stake in the company was sold for $30 million and since then, over $1 billion has been raised through private and government funding, yet billions of additional dollars will be needed to build the first plant.
When one company becomes a subsidiary of another a slight change in logo design is frequently made to the subordinated company’s logo.
Recently, Guggenheim Partners, the company’s financial advisor announced that NuScale was going public using a SPAC or special purpose acquisition company. Whether this will be sufficient for the company’s financing needs remains to be seen.
NuScale received the United States Nuclear Regulatory Commission’s design approval last year yet still needs several additional levels of federal approval before construction can begin.
The company is hopeful that it will have its first plant operational at the Idaho National Laboratory before 2030.