NuScale Power Completes Merger with Spring Valley Acquisition Corp. to Create World’s First and Only Publicly Traded Provider of Transformational Small Modular Nuclear Reactor Technology
Summary
Spring Valley shareholders approved the transaction at a special meeting on April 28, 2022.Our mission at NuScale has always been simple: to develop a safer, smarter and more cost-effective form of advanced nuclear power capable of meeting a wide spectrum of future electric and thermal energy needs from replacing coal-fired plants with carbon-free, dispatchable baseload electricity to powering commercial scale water desalination and clean hydrogen production, said John Hopkins, President and Chief Executive Officer of NuScale. Mr. Sorrells will join the newly public companys Board of Directors, adding to a deep bench of advisors with extensive backgrounds in energy, engineering, procurement and construction.Fluor Corporation and NuScale were the only consortium, which began in 2013, to follow through on its Department of Energy partnership and deliver U.S. Nuclear Regulatory Commission design approval as well as a broad coalition of strategic investors to expedite the path to commercialization, said Alan Boeckmann, Executive Chairman of Fluor Corporation and member of NuScales Board of Managers. The groundbreaking NuScale Power Module (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. To learn more, visit NuScale Powers website or follow us on Twitter, Facebook, LinkedIn and Instagram.Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients greatest challenges. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.Spring Valley Acquisition Corp. (NASDAQ: SV, SVSVW) is a special purpose acquisition company formed for the purpose of entering into a merger or similar business combination with one or more businesses or entities focusing on sustainability, including clean energy and storage, smart grid/efficiency, environmental services and recycling, mobility, water and wastewater management, advanced materials and technology enabled services.