NuScale Moves Doosan Partnership Into Production of First 77-MW Reactor Component
Key Facts
NuScale announced on October 29 that it had signed a contract with Doosan Enerbility to manufacture the reactor module’s top cooling system at the Korean company’s facility in Changwon. The agreement moves the companies’ cooperation from preparation to production of the first piece of the system designed for a NuScale Power Module. The announcement defines the contract’s scope as the top cooling system, with work to be carried out at Doosan’s reactor manufacturing facility. NuScale Chief Executive John Hopkins said the agreement was “an important step in turning our approved design into deliverable modules.” The company added that the cooperation had improved manufacturability while preserving the performance and safety characteristics approved by the U.S. Nuclear Regulatory Commission.
Production of the first piece marks progress on the manufacturing front, but does not mean the contract covers production of a complete system or the start of reactor module deliveries. NuScale places the agreement within its effort to turn its approved design into deliverable modules, while the announced scope remains the reactor module’s top cooling system. The industrial partnership between the two companies dates to a manufacturability review Doosan completed for the module in 2021. Doosan then began forming components for the first NuScale Power Module in 2023. The contract reflects the cooperation’s move into a defined production phase following that earlier preparatory and manufacturing work.
NuScale says each module is designed to produce 77 megawatts electric or 250 megawatts thermal gross. The modules can be arranged in flexible configurations of up to 12 units, with total capacity of 924 megawatts electric. These specifications allow the company to offer a range of generation capacities depending on project configuration. The conversion of the design into deliverable modules, in turn, depends on progress in industrial work and on the projects that will use them. Production of the first piece therefore remains a manufacturing step in a broader process and does not by itself demonstrate that a plant has been fully deployed or that modules have been delivered to customers.
Second-quarter results show a financial picture combining substantial liquidity with low quarterly revenue. NuScale ended the quarter on June 30, 2026, with $1.9 billion in cash and cash equivalents and short- and long-term investments. Revenue was $75,000 for the quarter, compared with $8.054 million in the same period of 2025. The reported liquidity provides the company with a financial reserve, while the year-over-year decline in revenue highlights the gap between its cash resources and revenue recorded in that quarter. In its results, the company said its partner ENTRA1 continues discussions with the TVA to reach a possible definitive power purchase agreement for a large nuclear deployment program in the United States.
The company’s project background includes the RoPower project in the Romanian city of Doicești, which aims to deploy six modules at a former coal plant site. The project places the modular-capacity units within specific deployment plans, alongside discussions on the U.S. power program. In the market, NuScale shares, listed under the ticker SMR, closed at $5.67 on October 28. That was the closing price on the day before the contract announcement and does not by itself establish how the shares moved after the news. The official announcement of the manufacturing contract did not include a share price or details about delivery of complete modules.
NuScale scheduled a third-quarter results review call for November 5, 2026, at 5:00 p.m. Eastern time. The call follows the Doosan contract announcement, giving the company an opportunity to present quarterly business updates on the scheduled date. ENTRA1’s discussions with the TVA and the RoPower project are among the commercial contexts cited in company statements about deployment projects. Production of the first piece of the cooling system also marks a new execution focus in the cooperation with Doosan. The announcement thus links progress in manufacturing a specific component with the company’s broader plans to deploy its modules, without announcing a date for delivery of complete modules.