Why NuScale Power (SMR) Stock Is Trading Higher Today - NuScale Power (NYSE:SMR)

On the eve of the G7 Leaders Summit in Hiroshima, Japan, the Biden Administration, along with multinational partners have announced an intent to provide funding for NuScale Power Corporation SMR for deploying a power plant in Romania.
The group will provide up to $275 million to advance the deployment of NuScale’s VOYGR small modular reactor (SMR) power plant in Romania.
The public-private commitments include those from the United States, Japan, the Republic of Korea, and the United Arab Emirates.
The commitment will support in procurement of long lead materials, Phase 2 Front-End Engineering and Design (FEED) work, provision of project management expertise, site characterization, and regulatory analyses.
Also, the U.S Export-Import Bank (EXIM) and U.S. International Development Finance Corporation (DFC) have issued Letters of Interest for support of up to $3 billion and $1 billion, respectively, for project deployment.
NuScale in now conducting a site feasibility analysis in a former coal plant in Doicesti, Romania.
After the studies’ results, NuScale aims to deploy a 462 MWe VOYGR-6 power plant to help Romania meet energy security and decarbonization goals.
The announcement was a part of the G7 Leaders’ commitment to mobilize $600 billion in infrastructure investments under the Partnership for Global Infrastructure and Investment.
Price Action: SMR shares are trading higher by 6.50% at $8.20 in premarket on the last check Monday.

Why NuScale Power Stock Is Trading Higher Today