Fluor Announces $40 Million Investment in NuScale Power

Fluor Announces $40 Million Investment in NuScale Power

Fluor Announces $40 Million Investment in NuScale Power by JGC Holdings Corporation

IRVING, TX (STL.News) Fluor Corporation (NYSE: FLR) announced today that JGC Holdings Corporation of Japan invested $40 million into NuScale Power LLC, a leading small modular nuclear reactor (SMR) technology company in which Fluor is the majority investor.  In addition to JGC’s ownership interest, JGC will become a global strategic engineering, procurement, and construction (EPC) partner for new SMR projects.

“This new ownership stake and partnership with JGC is aligned with Fluor’s long-term strategy to bring aboard new strategic investors to NuScale as the U.S. and international demand for new carbon-free base-load energy grows,” said Alan Boeckmann, executive chairman, Fluor Corporation.  “Fluor has been collaboratively executing projects with JGC for more than 10 years and we believe JGC is an ideal partner for effectively bringing this innovative carbon-free energy transition solution to realization.”

Fluor and NuScale are currently working for Utah Associated Municipal Power Systems (UAMPS) to bring the world’s first carbon-free SMR project to commercialization.

In addition to previously announced strategic partners and investors in NuScale, both Fluor and NuScale continue to engage with potential customers, capital investors, manufacturers, and other supply chain partners for NuScale SMR deployment efforts.

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Author: STLNEWS