NuScale Power Rallies After Standard Power Selecting Its SMR Technology

(RTTNews) - Shares of NuScale Power Corporation (SMR) are surging more than 18% Friday morning after the company said Standard Power, a provider of infrastructure as a service to advanced data processing companies, chose NuScale's SMR Technology.

NuScale will provide its NuScale SMR (small modular reactor) technology, the only SMR technology that has received design approval from the US Nuclear Regulatory Commission, to develop two small modular reactor (SMR)-powered facilities by Standard Power. The facilities, to be located in Ohio and Pennsylvania, are expected to produce 2GW clean, carbon free-energy to power nearby data centers.

SMR, currently at $5.56, has traded in the range of $4.47 - $12.36 in the last 52 weeks.