Although NuScale announced yesterday lower financial results for the last quarter and the entire year 2024, marking losses of 348.4 million USD, on revenues of 34 million USD, compared to a net loss of 180 million USD in 2023, on revenues of 22.8 million USD, the company mentions the progress of the small modular reactor (SMR) project at Doicești, according to a report consulted by Energynomics.
Market sources previously told Energynomics that the Doicești project is in a waiting phase, being dependent on the political factor, yet NuScale officials did not want to grant Energynomics a clarifying interview.
Therefore, NuScale Power announces that ”Cash position further strengthened by warrant exercises that generated $227.7 million in cash proceeds” and it also announces ”Continued progress on Fluor’s Phase 2 Front-End Engineering and Design (FEED Phase 2) study for the RoPower Doicești power plant”, and also that ”Standard Design Approval application remains on track for mid-2025 approval by U.S. Nuclear Regulatory Commission (NRC)”.
At the same time, CEO John Hopkins states in the report submitted to investors that NuScale has 12 modules in various stages of production.
“As the first and only small modular reactor technology to receive NRC design approval and certification, and with long lead materials for 12 modules already in production, NuScale is the first mover in commercial SMR development,” said John Hopkins, President and Chief Executive Officer of NuScale Power. “Alongside our developer partner ENTRA1 Energy, we are in advanced commercial dialogue with major technology and industrial companies, utilities, and national and local governments. Each is urgently seeking clean, emissions-free energy and process heat that they can rely on every hour of every day. Whether for AI and the data economy or industrial applications, prospective customers are adamant that no resource is more important in the years ahead than 24/7 clean energy at scale.”
