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Friday, January 27, 2023

Fluor (NYSE: FLOR) Gets $40M Investment in NuScale Power

Fluor Corporation (NYSE: FLOR) disclosed that JGC Holdings Corporation of Japan has made an investment of $40 million into NuScale Power LLC. Fluor has been providing its services in the nuclear industry for more than 70 years involving the design and building backing for more than 25 nuclear plants. It also includes nearly 100 million hours of nuclear operation and maintenance work.

Fluor is the majority investor in NuScale Power LLC. NuScale has gained recognition as the prominent small modular nuclear reactor (SMR) technology firm. This new possession stake and cooperation stake with JGC is affiliated with a long-term strategy of FLOR to take aboard new strategic shareholders to NuScale as the U.S. and international demand for new carbon-free base-load energy increase.

Currently, FLOR and NuScale are serving for Utah Associated Municipal Power Systems (UAMPS) to create the first carbon-free SMR project for commercialization of the world. Both Fluor and NuScale continue to participate with potential clients, capital investors, companies, and other supply chain collaborators for NuScale SMR utilization efforts.

Furthermore, Fluor has been working in the nuclear industry for more than 70 years including the planning and construction assistance for more than 25 nuclear plants along with nearly 100 million hours of nuclear operations and maintenance activities.

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