Small Modular Reactors

US / Japan’s IHI Corporation Invests $20 Million In NuScale SMR Project

By David Dalton
28 May 2021

Major investment might be followed by another $20m
Japan’s IHI Corporation Invests $20 Million In NuScale SMR Project
A computer-generated image of a NuScale SMR nuclear power plant. Courtesy NuScale.
Fluor Corporation announced that IHI Corporation of Japan is investing $20m into NuScale Power LLC, a leading small modular nuclear reactor technology company in which Fluor is the majority investor.

California-based Fluor said IHI’s immediate investment of $20m might be followed by another $20m later.

In addition to IHI’s ownership interest, IHI will become a global manufacturing partner and have the opportunity to provide design services and heavy manufacturing of the steel plate reinforced concrete wall structures for NuScale SMR projects in which Fluor has the lead role.

The investment from IHI follows a recent investment and partnership agreement with JGC Holdings that includes a $40m cash investment for the deployment of the company’s nuclear plants.

Fluor and NuScale are working for Utah Associated Municipal Power Systems (Uamps) to bring the world’s first SMR project to commercialisation.

In August 2020, NuScale’s SMR became the first and only design so far to receive approval from the US Nuclear Regulatory Commission.

The NuScale SMR is a light-water reactor plant intended to supply energy for electrical generation, district heating, desalination, and process heat applications. It features a fully factory-fabricated NuScale power module capable of generating 60 MW of electricity using what NuScale says is a safer, smaller, and scalable version of pressurised water reactor technology.

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