Stock Track | NuScale Power Soars 5.04% as Subsidiary Gets Major DOE Contract

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Shares of NuScale Power (SMR) surged 5.04% in the pre-market trading session on Thursday, as its subsidiary NANO Nuclear Energy, along with LIS Technologies, secured a major contract from the U.S. Department of Energy (DOE) as part of the Low-Enriched Uranium (LEU) Enrichment Acquisition Program.

The contract, with a total appropriation of $3.4 billion over 10 years, aims to bolster the domestic nuclear fuel supply chain and advance nuclear technology in the United States. Under the contract, LIS Technologies, as the prime contractor, and NANO Nuclear Energy, as a key subcontractor, will have the opportunity to bid on task orders with a minimum value of $2 million each.

Through this collaboration, LIS Technologies will oversee the development of uranium enrichment processes using its laser technology, while NANO Nuclear Energy will contribute to fuel deconversion, fabrication, and transportation. The partnership aims to create a vertically integrated fuel pipeline to produce LEU and High-Assay Low Enriched Uranium (HALEU) for both existing and advanced nuclear reactors, including NANO Nuclear Energy's microreactor projects.

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