Nuscale Power Inks MoU With Korean Partners For Supply Chain Development

NuScale Power Corp SMR has signed a memorandum of understanding (MOU) with Doosan Enerbility Co Ltd (Doosan) and Export-Import Bank of Korea (KEXIM) to support its small modular reactor (SMR) deployment.
The MoU leverages and bolsters an existing relationship between NuScale and Doosan.
The agreement outlines areas of cooperation, such as marketing, technical support, and further development of a global supply chain.
Doosan will help establish a U.S.-based supply chain for NuScale Power Module production through capacity expansion and manufacturing technology advancement.
"Today's news underscores how our SMRs fill a unique global need: providing flexible, reliable and carbon-free energy while driving economic activity in manufacturing and supply chain development," said President and CEO John Hopkins.
"With our Korean partners and their technical expertise, we are well-positioned to meet this ambitious goal."
Price Action: SMR shares are trading higher by 1.30% at $8.58 in premarket on the last check Wednesday.