NuScale sees an increase in revenue for first quarter

Earnings rose at NuScale Power, Corvallis, Ore., in the first quarter, which the small modular reactor developer attributed in part to a technical license agreement for the RoPower Dolcești power plant.

Revenue for the first quarter ended at  $13.4 million up from $1.4 million in the first quarter in 2024. NuScale had a net loss of $35.3 million for the first quarter, which was lower compared to its net loss of $44 million in its first quarter a year ago.

At the RoPower, a Romanian nuclear company, project in Dolcești, Romania, NuScale continues its effort to provide six NuScale Power Modules. As a part of the project, NuScale has progressed Fluor’s Phase 2 FEED study. Fluor is a major stakeholder in NuScale. Initiated in the third quarter of 2024, phase 2 is scheduled to be completed in the fourth quarter this year.

An extension of Phase 2 through the first quarter of 2026 is under consideration. On its earnings conference call, NuScale CFO Ramsey Hamady clarified that the consideration would be more assurance that phase 2 that RoPower will have sufficient engineering studies to justify a financial investment decision on the project.

The RoPower project is aimed to deploy a NuScale VOYGR-6 power plant that can produce up to 462 megawatts of electricity at a former coal plant in Dolcești, Romania.

The company continues to push towards its path of deploying its small modular reactor. NuScale was the first SMR developer to have its design approved by the Nuclear Regulatory Commission.

NuScale is looking for a firm customer order by the end of 2025, with the expectation of deploying its first NuScale Power Module in 2030. As outlined in the company’s earnings presentation, NuScale is bolstering its supply chain in anticipation of its first customer order.

NuScale reported its standard design approval to increase the power output per module from 50 megawatts to 77 megawatts is on schedule for a potential approval date of July 2025.

“In the first quarter, NuScale continued to take proactive steps to build on our leadership as the first and only SMR provider to receive NRC design approval,” NuScale president and CEO John Hopkins said in a press release. “With 12 modules already in the manufacturing process, we further readied our supply chain to ensure we stay on course to achieve our 2030 delivery target.”