The NucScale Power Module (NPM) can serve as a reliable, carbon-free source of power that complements renewable sources such as wind, solar and hydropower generation.

The NPM can provide consistent baseload power with available load-following, no matter the time of day, weather or season.

As well as this, its unique design and safety features allow it to be easily integrated into electric grids or used in a variety of industrial applications, such as water desalination, commercial-scale hydrogen production and carbon-capture technology.

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Nuclear energy could provide a basis to generate large quantities of clean hydrogen that could accelerate the green revolution across the globe.

The total investment in the technology and company has now reached more than $232m which now will be used to bolster and accelerate commercialisation of the technology.

John Hopkins, President and CEO of NuScale, said, “The world’s need for a diverse mix of clean energy has never been more apparent, and we are thrilled to welcome Nucor and look forward to exploring potential opportunities with utilities across Nucor’s steelmaking footprint.

“NuScale continues to build an impressive and diverse group of investors and strategic partners who recognise the compelling value of our carbon-free energy solution and our leading position in the global SMR race.”

Leon Topalian, President and CEO of Nucor, said, “Sustainability is driving the business decisions of leading companies around the world. As America’s largest steel producer and a significant energy consumer, we are looking for safe and reliable sources of power generation that are consistent with our sustainability goals.

“The continued development of small modular nuclear reactors is critical to ensure our nation has carbon-free, baseload power, which is why we are making this investment in NuScale.”