On Monday (July 14), NuScale Power (SMR) saw its stock price soar by 12.8%, while the S&P 500 and Nasdaq Composite indices posted only modest gains. This surge was closely tied to a collaborative initiative between the UK and the Czech Republic, which is exploring the potential deployment of small modular reactors (SMRs) in the Czech Republic, including NuScale’s technology. Although this partnership won’t directly impact NuScale, it further validates the market potential of SMR technology, boosting confidence across the industry.
NuScale recently proposed a plan to build six small modular reactors in Idaho, with a total generating capacity of 462 megawatts—about half that of a conventional nuclear reactor. If successfully implemented, the project could supply power not only to Idaho but also to Oregon, Wyoming, Nevada, and California. This initiative is critical for NuScale, as its successful delivery would serve as a major endorsement of the company’s business model. However, it also carries significant technical and market risks.
NuScale does not construct reactors directly but operates on a technology licensing model, authorizing other companies to build and operate its SMR designs. The company expects to launch this program within the next five years, targeting the operation of its first reactor module at Idaho National Laboratory by 2030. Although the original 2029 deadline has been pushed back to 2030, NuScale insists it remains “on track.” Its South Korean partner, Doosan Enerbility, will handle modular construction—akin to prefabricated housing—to enhance efficiency and reduce costs.
Analysts predict NuScale could achieve its first profit in 2030, with an estimated net income of $54 million ($0.26 per share) and free cash flow of around $60 million, followed by rapid growth thereafter. Additionally, former U.S. President Donald Trump once proposed quadrupling nuclear power generation from 100 gigawatts to 400 gigawatts by 2050, a goal in which NuScale is poised to play a key role. Currently, NuScale’s design is one of only two SMR technologies certified by the U.S. Nuclear Regulatory Commission (NRC), providing a crucial advantage for future market expansion.
