Total amount raised
$469.6 Millions
Latest funding date
05/01/2022
Location
NuScale Power has successfully raised funding through multiple rounds, attracting a diverse group of investors. The company specializes in Small Modular Reactor (SMR) nuclear technology, aiming to provide safer and more flexible nuclear power solutions.
Keep reading to explore the intricacies of NuScale Power's fundraising journey and the investors backing this innovative platform.
What Is NuScale Power?
NuScale Power, founded in 2007 by Jose N. Reyes and Paul G. Lorenzini, is headquartered in Corvallis, Oregon. The company operates in the energy, nuclear, and project management industries, specializing in small modular reactor (SMR) technology.
With an employee count ranging from 501 to 1000, NuScale Power is a leader in providing innovative nuclear solutions. The company offers products like the NuScale Power Module and services that cover licensing, construction, commissioning, and plant operations.
How Much Funding Has NuScale Power Raised?
- Round Name: Venture Round
- Amount Raised: $2.6M
- Date: March 2008
- Lead Investors: CMEA Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their small modular reactor technology.
- Round Name: Grant
- Amount Raised: $40M
- Date: April 2018
- Lead Investors: US Department of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and commercialization of their SMR technology.
- Round Name: Venture Round
- Amount Raised: $40M
- Date: April 2021
- Lead Investors: JGC Holdings Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of their advanced nuclear technology.
- Round Name: Corporate Round
- Amount Raised: $152M
- Date: August 2021
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize their SMR technology.
- Round Name: Post-IPO Equity
- Amount Raised: $235M
- Date: May 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operational capabilities and scale production.
NuScale Power has raised a total of $469.6M. The current valuation is Not publicly disclosed.
Key Investors
- Fluor Corporation
- Details: Fluor Corporation is a global engineering and construction firm with a 70-year history in commercial nuclear power. They are the majority investor in NuScale Power.
- Investment Focus Areas: Engineering, procurement, construction.
- Notable Investments: Extensive history in commercial nuclear power projects.
- JGC Holdings Corporation
- Details: JGC Holdings Corporation is a Japanese company specializing in engineering, procurement, and construction. They invested $40 million in NuScale Power in April 2021.
- Investment Focus Areas: Energy, infrastructure, engineering.
- Notable Investments: Not specified.
- US Department of Energy
- Details: The US Department of Energy is a government agency responsible for policies regarding energy and safety in handling nuclear material. They provided a $40 million grant to NuScale Power in April 2018.
- Investment Focus Areas: Energy, nuclear safety, research and development.
- Notable Investments: Not specified.
- JGC Holdings Corporation
- Details: JGC Holdings Corporation is a Japanese company specializing in engineering, procurement, and construction. They invested $40 million in NuScale Power in April 2021.
- Investment Focus Areas: Energy, infrastructure, engineering.
- Notable Investments: Not specified.
- CMEA Capital
- Details: CMEA Capital is a venture capital firm that focuses on early-stage investments in technology and life sciences. They were the lead investor in NuScale Power's $2.6 million venture round in March 2008.
- Investment Focus Areas: Technology, life sciences, energy.
- Notable Investments: Not specified.
What's Next for NuScale Power?
NuScale Power stands at the cusp of a transformative era, driven by the commercialization of its advanced nuclear technology. The company’s small modular reactors (SMRs) offer versatile applications, from electrical generation to district heating and desalination, positioning NuScale to tap into a broad market for carbon-free energy solutions.
With substantial financial backing, including a recent $192 million funding round, NuScale is well-poised for future fundraising opportunities. The strategic interest from investors suggests continued support as the company progresses towards commercial deployment. However, regulatory hurdles and commercialization risks remain significant challenges that NuScale must navigate to achieve its ambitious goals.
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