NuScale Power Corporation (NYSE: SMR) has built its commercial strategy around the NuScale Power Module, a small modular reactor designed to make nuclear energy more practical and accessible to build.
The reactor is based on proven pressurized water reactor technology already widely used across the nuclear industry, reducing reliance on untested or experimental systems.
The design holds a significant regulatory distinction, becoming the first small modular reactor to receive approval from the U.S. Nuclear Regulatory Commission, earning Standard Design Approval in 2020, Design Certification in 2023, and a second Standard Design Approval in 2025.
That regulatory track record provides meaningful validation for potential customers and could prove critical in supporting future commercial deployment at scale.
The NuScale Power Module is engineered to generate 77 megawatts of electricity and operate more than 95% of the time, positioning it as a viable source of continuous, around-the-clock baseload power.
The compact cylindrical vessel stands approximately 76 feet tall and 15 feet wide, housing both the reactor and steam generator, and uses commercially available low-enriched uranium fuel with enrichment levels below 5%.
Refueling is only required approximately once every 21 months, and the modular design allows major components to be factory-built and shipped in sections, which is intended to reduce construction delays and cost overruns that have historically plagued large nuclear projects.
One of the technology’s most commercially attractive features is its scalability, allowing operators to start with a small number of modules and add capacity over time as electricity demand grows, rather than committing upfront to a large, expensive plant.
The reactor also incorporates passive safety features that enable automatic shutdown and cooling without operator intervention, external power, or additional water, alongside an NRC-approved unlimited coping period and capabilities including black-start, island-mode, and off-grid operation.
On the commercialization front, ENTRA1 Energy and the Tennessee Valley Authority are advancing plans for up to 6 gigawatts of new nuclear generation using NuScale’s technology across TVA’s seven-state service area, while the RoPower project in Romania continues to progress through development.
NuScale is not alone in the emerging SMR landscape, with Oklo Inc. (NYSE: OKLO) pursuing liquid-metal-cooled, metal-fueled fast reactors that the company says carry more than 400 reactor-years of global operating history and offer fuel recycling capabilities using spent nuclear fuel.
NANO Nuclear Energy is developing a separate portfolio of portable and stationary microreactor technologies, including the patented KRONOS Micro Modular Reactor Energy System, the ZEUS solid-core battery reactor, and the LOKI MMR designed for portable and space-capable applications.
Despite its technological and regulatory achievements, shares of SMR have lost 47.4% over the past six months, reflecting ongoing investor skepticism about the timeline and economics of commercial deployment.
NuScale currently carries an average brokerage recommendation of 2.56 on a scale of 1 to 5, based on actual recommendations from 18 brokerage firms, and holds a Zacks Rank of 3, designating it a Hold.
