SMR - NuScale Power says capital sufficient for longer-term development plans

NuScale Power (NYSE:SMR) provided a business update and reaffirmed its financial outlook on Friday, including $16M in cash revenue for FY 2022. NuScale (SMR) said revenues for the March quarter totaled $2.4M with a $23.4M net loss, compared to revenues of $700K and a $22.7M net loss in the year-earlier period. The company reported $383.7M of total capital available to fund strategic growth plan, including upsized $341M raised through its successful merger with Spring Valley Acquisition Corp. NuScale (SMR) said it has sufficient capital to support its longer-term business development plans, thanks in part to a $54M increase in PIPE proceeds from $181M to $235M. "Can NuScale Power reverse the slide in nuclear influence in the West? Maybe, but it is a big ask," Keith Williams writes in an analysis posted recently on Seeking Alpha.

For further details see:

NuScale Power says capital sufficient for longer-term development plans