Modular Nuclear Reactor Company Nuscale Gets $40 Million from Japan’s JGC Holdings

JGC Holdings (Japanese company) has invested $40 million for a roughly 3% stake in NuScale, developing small modular pressure water nuclear reactor. The Japanese group will work with NuScale’s parent, U.S.-based engineering company Fluor, on construction management and other aspects of the Idaho project.

The partners will eventually make similar projects in the Middle East — where JGC boasts a long track record in oil and petrochemical infrastructure — and Southeast Asia.

Conventional 1000 megawatt nuclear plants cost around $10 billion to build using established reactor designs. NuScale’s SMR design — which completed a technical review by the U.S. Nuclear Regulatory Commission in August 2020, costs around $3 billion for more than 900 MW.

The first NuScale Power Module™ will begin generating power in 2029, with the remaining modules coming online for full plant operation by 2030.

At up to 77 MWe (gross), the NuScale Power Module™ is the smallest of the light-water SMRs, broadening its market reach and application to markets that require smaller sizes and for customers who wish to make smaller investments in nuclear power.

NuScale’s small size and simple design eliminates many of the large and complex systems (e.g., pumps, motors, valves, piping) found in today’s nuclear power plants and other SMR designs. As a result, NuScale’s plant is safer, and less expensive to build and operate.

This is the first ever small modular reactor (SMR) to receive U.S. Nuclear Regulatory Commission (NRC) design approval, NuScale is bringing the first SMR power plant online in the U.S. this decade. Our SMR technology, the NuScale Power Module™ (module), can generate 25 percent more power at 77 megawatts of electricity (MWe), resulting in a total output of 924 MWe (gross) for their flagship 12-module NuScale power plant. They offer smaller power plant solutions in 4-module (308 MWe) and 6-module (462 MWe) sizes.

SOURCES- Nikkei, Nuscale, Stephen Stapczynski
Written By Brian Wang,