SMR - NuScale agrees with Doosan Export-Import Bank of Korea in supply chain boost

2023-04-25 18:56:11 ET

NuScale Power ( NYSE: SMR ) +6.2% post-market Tuesday after saying it signed a memorandum of understanding with Doosan Enerbility Co. and Export-Import Bank of Korea to support NuScale's small modular reactor deployment .

NuScale ( SMR ) said the agreement outlines areas of cooperation such as marketing, technical support and further development of a global supply chain, while Doosan committed to helping establish a U.S.-based supply chain for the production of the NuScale Power Module through capacity expansion and manufacturing technology advancement.

The Mou builds upon a longstanding collaboration between NuScale ( SMR ) and Doosan; late last year, NuScale placed the first upper reactor pressure vessel long lead material production order with Doosan.

With the assistance of Export-Import Bank of Korea, the companies said they will be able to deploy NuScale ( SMR ) VOYGR plants worldwide and utilize a Korean supply chain when deploying NuScale plants in the Asian market.

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