Nuclear regulatory endorsement boosts NuScale's customer appeal, yet no agreements sealed as of now.

With a single small modular reactor approved by the U.S. Nuclear Regulatory Commission, and favorable regulatory trends for nuclear energy, NuScale's executives expect to secure substantial contracts by the end of the year.

, and Administrator

2025 August 28 . 5:03 AM

2 min read

Increased interest in NuScale due to nuclear regulatory approval, yet no contracts finalized as of... — Increased interest in NuScale due to nuclear regulatory approval, yet no contracts finalized as of now

Nuclear regulatory endorsement boosts NuScale's customer appeal, yet no agreements sealed as of now.

In a significant milestone for the nuclear power industry, the Nuclear Regulatory Commission (NRC) approved NuScale Power's 77-MW power module on May 29, 2025. This approval has led to a surge of interest from potential customers, positioning NuScale as the only company with two NRC approvals for small modular reactors (SMRs) [1][2].

Following the approval, NuScale reports being "inundated" with prospective customers showing strong interest [1]. This milestone sets NuScale apart in the advanced nuclear market, offering a competitive edge in commercialization and manufacturing efforts with partners such as Doosan Interability and ENTRA1 Energy [2].

The increased customer interest is not yet reflected in finalized contracts, but NuScale's CEO, John Hopkins, has previously indicated that they aim to secure one or more customer deals by the end of the year [1][3]. Hopkins mentioned in May that NuScale was in the process of submitting and negotiating term sheets with potential customers [3].

Despite not being engaged with Sawtooth Energy and Development Corp. for the proposed 462-MW nuclear power plant in southern Idaho [4], NuScale is making progress on other fronts. The company is continuing early work as a subcontractor on Fluor Corp.'s proposed 462-MW power plant in Romania, with a revised timeline for a final investment decision in late 2026 or early 2027 [5].

Customer interest in NuScale's technology has increased since May, led by large technology companies, utilities, and the U.S. military [6]. The Trump administration is under pressure to achieve success stories in new nuclear deployments within a limited timeframe, and these executive orders are seen as beneficial for NuScale and other advanced nuclear companies [7].

NuScale does not sell electrons; it is more accurate to compare it to an original equipment manufacturer, similar to how it compares itself to an original equipment manufacturer selling a piece of equipment, in this case, the power plants that ENTRA1 builds and, in some cases, may own and operate [8]. This relationship provides end users of NuScale technology with more operational flexibility than they would have if they owned and operated their own power plants.

Financially, revenues are growing rapidly (up 710% year-over-year in Q2 2025), though the company has yet to translate customer interest into finalized deals. Costs have increased as NuScale transitions from R&D to commercial operations, supported by a strong cash position [9].

In summary, NuScale’s post-May 2025 NRC approval status is characterised by growing customer interest, active business development efforts, and an explicit target to sign multiple major customer contracts by the end of 2025, but no binding contracts have been announced yet [1][2][3]. The company is making strides in its commercialization and manufacturing efforts with partners, while also expanding its market presence through Energy Exploration Centers globally, further solidifying its market position and preparing future nuclear talent.