Stock Track | NuScale Power Surges 5.11% in Pre-Market as Positive Catalysts Fuel Rally

Stock Track12-17

Shares of NuScale Power (SMR) soared 5.11% in pre-market trading on Tuesday, as the nuclear technology company's stock continued its recent rally fueled by a series of positive catalysts and developments.

NuScale has made significant progress in advancing its innovative small modular nuclear reactor designs. The company received a key Standard Design Approval from the U.S. Nuclear Regulatory Commission, paving the way for deployment of its compact and more cost-effective reactors.

Additionally, NuScale has secured new partnerships and funding opportunities that could accelerate the commercialization of its technology. The company signed a supply deal with South Korea's Doosan Enerbility for reactor components and is also in line to receive up to $900 million in cost-shared funds from the U.S. Department of Energy to support the development of advanced nuclear SMRs. Most notably, NuScale partnered with Amazon and Energy Northwest to develop four of its reactors to meet Amazon's growing energy needs.

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