SMR - NuScale Nucor sign MoU to explore use of SMR reactors in steel mills

2023-05-16 09:25:56 ET

NuScale Power ( NYSE: SMR ) +2.4% pre-market Tuesday after signing a memorandum of understanding with Nucor ( NUE ) to explore the use of small modular nuclear reactors to power Nucor's electric arc furnace steel mills.

The companies also will explore an expanded manufacturing partnership through which Nucor ( NUE ) would supply its Econq net-zero steel products for NuScale ( SMR ) projects.

NuScale ( SMR ) said its VOYGR power plants, which can be scaled in different plant configurations to produce up to 924 MWe of output, are well-suited for industrial applications as a highly reliable source of carbon-free energy.

NuScale ( SMR ) said the agreement strengthens its partnership with Nucor ( NUE ), which invested $15M in the company in 2022.

More on NuScale Power:

• Financial and valuation comparison to sector peers
• Analysis: NuScale Power: Is NRC Certification Of Small Module Nuclear Reactor Enough?
• Stock price return: Down 19% YTD, down 15% in the past 12 months

For further details see: