JGC Holdings bacame the latest investor in the modular nuclear reactor technology developer, which emerged out of Oregon State University.
NuScale Power, a US-based developer of modular nuclear reactor technology based on research at Oregon State University, has received $40m in funding from engineering, procurement and construction (EPC) firm JGC Holdings on Monday.
Founded in 2007, NuScale is commercialising small modular nuclear reactors (SMR) that can generate up to 77 MW of electricity per device. It claims the energy produced by its SMR technology is as clean as wind or solar-generated power.
Engineering and construction services provider Fluor Corporation acquired a majority stake in 2011, but Oregon State University retains a minority stake in the company obtained through its exclusive licensing deal.
Quantitative risk management firm Ares Corporation secured an equity position in NuScale Power through a strategic partnership agreement in 2012, as did engineering and environmental services provider Enercon two years later and defence technology producer Ultra Electronics in 2015.
The company then received an…
