Tigard company to go public to produce nuclear reactors

  • 2022-01-02
NuScale Power, with headquarters in Tigard, is planning to go public to generate cash to scale up its operation.

The company makes nuclear reactors of a modular nature that can be used in combination to create power plants free of carbon. It is working with a company in Utah to build the first such nuclear power plant in Idaho.

Chris Colbert, chief financial officer of NuScale, said that going public will provide the company with the access to the capital that is needed to complete its commercialization so that its product can get to the market in a timely fashion. Such announcements can be made known throughout an industry with flyer printing services.

Going public will be accomplished by NuScale merging as a special purpose acquisition company. These types of mergers are becoming popular as they enable private companies to go public without the risks or costs associated with the traditional initial public offering.

The company with which NuScale is merging is Spring Valley Acquisition Corporation and is already traded publicly. Colbert said that this merger could provide proceeds of between $181 million to $413 million for NuScale. NuScale’s reactors can produce up to 77 megawatts of electricity each and when used in various combinations can produce as much as a power plant fired by coal without the heavy carbon emissions.

The first modular nuclear reactor is expected to be online by 2029.