NuScale Power Secures Samsung C&T Corporation Investment and Support for Global SMR Deployment

NuScale Power announced today that Samsung C&T Corporation has agreed to make an equity investment in the company to help fund the deployment of its ground-breaking tiny modular reactor (SMR). In conjunction with the investment, Samsung C&T and NuScale’s main engineering, construction, and procurement (EPC) partner, Fluor Corporation, are working on a business collaboration agreement to expand the capabilities available for the future NuScale project deployment.

Samsung C&T, a reputable nuclear power plant contractor, helped build the four-unit Barakah Nuclear Power Plant in the United Arab Emirates. Samsung C&T will act as a strategic partner to Fluor and other prospective project participants under its agreements with NuScale and Fluor, relying on its nuclear construction expertise to complete the Barakah Plants and Uljin South Korea Nos. 5 and 6 Plants.

NuScale made history the first and only SMR to receive design approval from the US Nuclear Regulatory Commission in August 2020. In July 2021, the Commission published the proposed rule that would certify the NuScale design – a critical step toward the construction and deployment of this SMR technology. The firm maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, plant delivery program planning, and startup and commissioning plans.

About NuScale Power
NuScale Power has introduced a new modular light water reactor nuclear power plant that will provide energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. This ground-breaking small modular reactor (SMR) design incorporates a fully factory-fabricated NuScale Power Module capable of producing 77 MW of electricity through a safer, smaller, and more scalable form of pressurized water reactor technology. The scalable design of NuScale—power plants that can house up to four, six, or 12 individual power modules—provides the benefits of carbon-free energy while reducing the financial commitments associated with gigawatt-sized nuclear facilities. Fluor Corporation, a global engineering, procurement, and construction company with a 70-year of experience in commercial nuclear power, is the majority shareholder in NuScale.

About Samsung C&T’s Engineering & Construction Group
The Engineering & Construction Group of Samsung C&T has more than 40 years of engineering and construction expertise operating globally. The group focuses on commercial and residential buildings, civil infrastructure, and plant construction. Its major projects include the world’s tallest building, the Riyadh Metro Project in Saudi Arabia, and the 5,600MW Barakah Nuclear Power Plant Project in the UAE.