NuScale Cements Lead With Largest SMR Deal in US History

• NuScale Power's strategic partner, ENTRA1 Energy, has signed a historic agreement with the Tennessee Valley Authority (TVA) to deploy up to six gigawatts of SMR capacity, the largest such program in U.S. history.
• The company significantly boosted its financial standing, ending the third quarter with $753.8 million in cash after raising $475.2 million through capital market activities.
• NuScale reported a $7.8 million increase in revenue for Q3 2025 compared to the previous year, driven by a shift from research and development to commercial projects.
• Progress continues on the development of an SMR power plant in Doicești, Romania, highlighting the company's growing international footprint.

NuScale Power Solidifies Market Dominance with Landmark TVA Agreement

CORVALLIS, Ore. — NuScale Power Corporation (NYSE: SMR) has announced a pivotal development in the American energy sector, revealing in its third-quarter 2025 results a historic agreement that confirms its leadership in small modular reactor (SMR) technology. The deal, brokered by NuScale's global partner ENTRA1 Energy, will see the Tennessee Valley Authority (TVA) deploy up to six gigawatts of NuScale's SMR capacity.

This collaboration marks the largest SMR deployment program in United States history, signaling a massive vote of confidence in NuScale's technology, the first and only SMR design approved by the U.S. Nuclear Regulatory Commission.

A Historic Moment for U.S. Energy

"NuScale is honored that our technology was selected for ENTRA1’s historic agreement with the Tennessee Valley Authority," stated John Hopkins, NuScale President and Chief Executive Officer. He emphasized the program's significance, noting, "This program underscores how... NuScale is leading the industry and is ready for commercial deployment."

The energy generated from these advanced nuclear reactors is slated to power energy-intensive industries crucial to the nation's economy, including AI data centers, critical mining operations, and semiconductor manufacturing. This move positions NuScale at the forefront of providing reliable, carbon-free baseload power to support America's economic future.

Strong Financials and Global Growth

NuScale also reported a robust financial position, ending the third quarter with cash, cash equivalents, and investments totaling $753.8 million. This was significantly strengthened by the sale of 13.2 million shares through an at-the-market (ATM) program during the quarter, which generated $475.2 million in gross proceeds.

Financial Highlights: Q3 2025 vs. Q3 2024

The company saw a notable increase in revenue, which rose by $7.8 million compared to the same period in 2024. This growth is primarily attributed to engineering services supporting the RoPower project in Doicești, Romania, where a six-module SMR plant is under development. In a sign of its maturing business model, NuScale’s research and development (R&D) expenses decreased by $1.1 million as personnel transitioned from R&D roles to revenue-generating commercial projects.

Future Outlook

With a landmark domestic deal secured, a strengthening balance sheet, and continued progress on international projects like the one in Romania, NuScale Power is demonstrating clear momentum. The company's transition from a research-focused entity to a commercially deploying industry leader appears to be accelerating, a development that investors and the broader energy market are watching closely.