Japan’s JGC Holdings invests $40M into small modular nuclear reactor company NuScale Power

In a recent interview with the Washington Post’s David Ignatius, energy experts Ernest Moniz and Lynn Good agreed that nuclear energy ought to play a role in the carbon-free energy future. Today, Fluor Corporation announced that JGC Holdings Corporation of Japan invested $40 million into NuScale Power, a 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 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 investors, Doosan Heavy Industries and Construction (DHIC) and Sargent & Lundy, both Fluor and NuScale continue to engage with potential customers, capital investors, manufacturers and other supply chain partners for NuScale SMR deployment efforts.

Fluor has been serving the nuclear industry for more than 70 years including the design and construction support for more than 25 nuclear plants, plus nearly 100 million hours of nuclear operations and maintenance work.

Source: Renewable Energy