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NuScale Power Corporation - Ordinary Shares (SMR) 8 Aug 24 2024 Q2 Earnings call transcript

AInvestFriday, Aug 9, 2024 11:59 pm ET
1min read

The second quarter of 2024 marked a significant milestone for NuScale Power as they shared their earnings results and outlined their ambitious plans for the future. With a focus on advanced nuclear technology and its role in the global energy transition, NuScale is poised to lead the way in SMR power modules.

RoPower Project and the Nuclear Landscape

The RoPower project, a collaboration with SNN and Fluor, is progressing steadily, with the authorization to proceed with Phase 2 Front-End Engineering and Design (FEED) and the signing ceremony in Romania. This project is a testament to NuScale's commitment to delivering clean, reliable energy solutions and its strategic positioning in the nuclear landscape.

The Need for Decarbonized Baseload Energy

The global energy transition is at a pivotal point, with nuclear energy increasingly considered a secure and sustainable solution to meet growing electricity demand and ambitious climate goals. Companies are under pressure to source reliable energy while reducing emissions, particularly in sectors like data centers and industrial processes. NuScale's SMR technology is uniquely positioned to meet these challenges, offering a clean, always-on energy source with a limited land footprint.

Partnerships and Funding Opportunities

NuScale's partnership with ENTRA1 Energy is a game-changer, enabling the company to engage with potential end-users, including some of the world's largest tech companies, and explore opportunities for global deployment. The company is also pursuing funding opportunities from the Energy & Water fiscal year 2024 appropriations, which could significantly boost NuScale's growth potential.

Manufacturing Readiness and Global Impact

NuScale's manufacturing readiness sets it apart from its competitors, with a robust supply chain and strategic partnerships that position the company for long-term success. The company's SMR technology resonates strongly in regions seeking reliable decarbonized energy, and its regulatory and design certifications further enhance its competitive edge.

Looking Ahead

NuScale's future is bright, with a strong pipeline of projects and a commitment to delivering industry-leading manufacturing readiness. As the demand for decarbonized baseload energy continues to grow, NuScale is well-positioned to capitalize on the opportunities ahead, driving innovation and shaping the future of advanced nuclear power.

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