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Interesting bearish article on SA
I disagree with most of the article.
For example:
The company is still a year away from real clarity about its UAMPS project, and it is anyone’s guess what the Polish and Romanian interests mean.
One of the issues that I have with nuclear industry advocates, and this includes SMR companies, is that there is constant reference to the “fact” that decarbonization cannot be effectively completed without a major expansion of nuclear technology
Customer Opportunity as of Jan 2023
For now, they have two commitments:
* UAMPS (Utah)
* RoPower (Romania)
I think the next one will be KGHM in Poland. After that, it's a bit less clear, so another 2 to identify from the list above.
The above slide also shows the global reach of NuScale. I would not be surprised if going abroad - with the help of the US DOE in some cases - would prove to the entire process and help greatly for the US market. Some countries, like eastern Europeans ones, need to wean off Russia oil&gaz. Those may accelerate once the concept keeps being proven by actual process milestones leading to full deployment and operations.
2023 Goals
If they do get the next 3 commitments this year, that will be a very big plus.
The SDA Application Approval (not the SDA approval) may take a while, some back and forth. That would be another big news. The process could then start for the SDA approval, which itself takes a couple of years and a lot more back and forth!
2022 Achievements
From the January2023 Investor Presentation:
https://www.nuscalepower.com/-/media/nuscale/pdf/investors/2023/investor-presentation-jan2023.pdf
Best of luck with your investments!
Moving project forward: BPF and DCRA update
Keeping commitments in the face of inflationary pressure on materials. That's another good news here.
Carbon Free Power Project’s Project Management Committee passes resolution to move the Project forward on schedule
PORTLAND, Ore.--(BUSINESS WIRE)-- NuScale Power Corporation (SMR) announced today that the Project Management Committee (PMC) for the Carbon Free Power Project (CFPP) reaffirmed its commitment to NuScale’s industry-leading small modular reactor (SMR) technology by approving a new Budget and Plan of Finance (BPF) and an update to the Development Cost Reimbursement Agreement (DCRA). This key milestone was reached with the receipt and acceptance of the CFPP’s Class 3 Project Cost Estimate (PCE), which further refines the anticipated total cost of the project.
The CFPP will be the first NuScale Power SMR power plant to begin operation in the United States near Idaho Falls, Idaho, at the U.S. Department of Energy’s Idaho National Laboratory. The SMR plant will deploy six, 77-megawatt modules to generate 462 megawatts of carbon-free electricity. The CFPP remains on schedule and is a cost-competitive, carbon-free and dispatchable resource that is an important part of a diversified resource portfolio.
As part of the PCE, NuScale worked with its partners at the Utah Associated Municipal Power Systems (UAMPS) to update the project’s BPF, which is designed to manage and reduce risk to CFPP participants. The BPF provides UAMPS with an option to withdraw from the project and be reimbursed for most out-of-pocket expenses if the CFPP’s price of energy per megawatt hour exceeds a certain threshold. The new DCRA that was approved by the PMC also establishes an updated target price of $89 per megawatt hour, which reflects the changing financial landscape for the development of energy projects nationwide. NuScale and the CFPP have yet to execute the amendment to the DCRA adopting the new price target.
The Class 3 PCE determined that the cost of the CFPP has been influenced by external factors such as inflationary pressures and increases in the price of steel, electrical equipment and other construction commodities not seen for more than 40 years. For example, the producer price index for commodities such as carbon steel piping and fabricated steel plates have increased by more than 50% since 2020. These inflationary pressures are increasing the costs for all power generation and infrastructure projects.
Romania 1st SMR Contract for Phase 1 of Front-End Engineering and Design Work
That's a milestone. Lots of work needed to happen before the Phase 1 contract. NuScale is starting the year on a strong note.
NuScale Secures RoPower as the Company’s Second Committed Customer
PORTLAND, Ore. – NuScale Power, LLC (NuScale) and Romania’s RoPower Nuclear S.A. (RoPower), owned in equal shares by S.N. Nuclearelectrica S.A. and Nova Power & Gas S.A., announced today that a contract for Front-End Engineering and Design (FEED) work was signed between parties on December 28, 2022, marking a significant step toward the deployment of a NuScale VOYGR™ small modular reactor (SMR) power plant in Romania.
Phase 1 of the FEED work awarded to NuScale will define the major site and specific inputs for a VOYGR-6 SMR power plant to be deployed at the Doicesti Power Station site in Romania. The eight-month project includes the issuance of subcontracts to perform the environmental impact assessment and subsurface geotechnical investigation, the evaluation of site and site-specific requirements for NuScale’s standard plant design, and the development of a project-specific cost estimate.
First touted by President Biden as part of his Partnership for Global Infrastructure and Investment in June 2022, the commencement of this work is a landmark advancement between NuScale and Nuclearelectrica aimed at deploying the first SMRs in Europe to help meet regional energy security and decarbonization goals.
“NuScale’s commencement of Phase 1 Front-End Engineering and Design work in partnership with Nuclearelectrica/RoPower keeps Romania on the path toward becoming the first country in Europe to benefit from safe, reliable and carbon-free small modular reactor technology,” said John Hopkins, President and Chief Executive Officer of NuScale. “We’re excited to enter into this next phase of our partnership with Nuclearelectrica and RoPower as our focus turns to the practical next steps toward the deployment of a NuScale VOYGR-6 SMR power plant in Romania.”
”We are proud to advance our partnership with NuScale and start the in-depth analysis and project planning on Doicesti site,” said Cosmin Ghita, CEO of Nuclearelectrica. “The signing of the contract for FEED work follows nearly four years of collaboration, research, and studies to ensure we select the safest and most performing technology, as well as the appropriate site. It also demonstrates the partners share the same values and commitment to build a greener and more sustainable future for the next generations.”
Commencement of this Phase 1 work follows the June signing of a Memorandum of Understanding between NuScale and Nuclearelectrica to begin conducting engineering studies, technical reviews, and licensing and permitting activities for the project.
(2nd) Standard Design Approval Application Submittal
I was expecting this submittal in December 2022, it was submitted on January 1, 2023. I do like companies meeting their planned deadlines. This submittal is far from simple. The NRC is known for its thoroughness, and NuScale already went through the rigorous process for their first Standard Design (the 50 MWe module). This one is for a more powerful (77 MWe module ).
PORTLAND, Ore. – On January 1, 2023, NuScale Power Corporation (NYSE: SMR) completed submission of a Standard Design Approval (SDA) application to the U.S Nuclear Regulatory Commission (NRC) for its updated small modular reactor (SMR) design, which is based on a VOYGR™-6 (6-module) configuration powered by an uprated 250 MWt (77 MWe) module. The design features the same fundamental safety case and totally passive safety features approved by the NRC in 2020, with a power uprate and select design changes to support customers’ capacity needs and further improve economics.
“On our journey to change the power that changes the world, NuScale has reached another critical regulatory milestone with the NRC,” said John Hopkins, President and Chief Executive Officer of NuScale Power. “Customers already appreciate that our SMR is unmatched in reliability and safety. Today’s announcement solidifies our technological superiority and does so within our previously stated commercialization timeline.”
In November 2020, through further value engineering efforts, advanced testing, and modeling tools, NuScale concluded that its technology could generate 25 percent more power per module for a total of 77 MWe per module (gross). Due to the higher power output, NuScale decided to seek approval of a six module, VOYGR-6 design, instead of the 12-module configuration that was in the previously approved design. Similar to power uprates at existing nuclear facilities, through increased analysis and supporting test data, NuScale has concluded that more power can be obtained from essentially the same NuScale Power Module™ that previously received NRC approval.
The NRC approved NuScale’s groundbreaking SMR design in 2020 with the issuance of their Final Safety Evaluation Report. The design remains the only SMR design application to be submitted to and approved by the NRC, marking a significant milestone for NuScale and the entire energy industry. That approval has set the stage for an efficient and effective review of the second SDA application, with NuScale establishing alignment with the NRC through a robust pre-application engagement and readiness review process.
All Parts of the application were submitted to the NRC on January 1, 2023, including the entire Final Safety Analysis Report (FSAR) and all technical reports, which are incorporated by reference into the FSAR. Three additional Licensing Topical Reports that serve as references to the FSAR, but are not incorporated by reference, are expected to be submitted by NuScale in the coming days.
The NRC’s approval of the NuScale design’s safety aspect has led to customers like mining company KGHM Polska Miedz S.A.in Poland and state nuclear power corporation S.N. Nuclearelectrica S.A. in Romania to take steps over the last two years toward deploying VOYGR™ SMR power plants to meet their clean energy needs.
Bought another $10.26 slice today
Best of luck with your investments!
Standard Plant Design Project Completed!
PORTLAND, Ore. – NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, announced today it has completed the Standard Plant Design (SPD) project ahead of schedule. This announcement demonstrates NuScale’s preparedness for facility construction and equipment procurement and manufacturing of long-lead major engineered equipment, while underscoring the company’s unmatched level of progress toward delivering VOYGR™ SMR power plants to customers around the world.
The SPD provides customers with a generic VOYGR power plant design that will serve as a starting point for deploying site-specific designs. The SPD encompasses 12,000 deliverables to support client-licensing and deployment activities including:
Full material takeoffs
Equipment lists
Data sheets
Architectural and construction drawings and specifications
Detailed system design specifications and calculations
Electrical single-lines and load lists
Mechanical piping and instrumentation diagrams
Along with these deliverables, a comprehensive 3D model of the power plant was produced, providing a crucial asset for potential customers to evaluate and leverage when determining the suitability of NuScale’s technology.
Shell/NuScale on Hydrogen Production
Shell and NuScale to use nuclear power to make hydrogen
Research project would put hydrogen facility at modular NuScale plant
Shell has signed with US nuclear pioneer NuScale to assess the idea of putting hydrogen production systems at small nuclear power plants.
The two plan to develop an integrated energy system which would produce hydrogen, using electricity and waste heat from a NuScale Voygr small modular reactor (SMR) plant The hydrogen could be used to store excess energy that can be used to balance the grid.
Small modular reactors (SMRs) have been proposed as a practical way to deliver nuclear power plants without the lengthy delays and overruns associated with large scale nuclear power stations. Both NuScale and Britain's Rolls Royce have suggested that they could be used to deliver clean power to large projects such as data centers.
Contracts with Framatome
Framatome is a well known, large company in Nuclear. That's a great partnership!
Contracts include important design and future fabrication activities, critical to NuScale’s small modular reactor (SMR) technology delivery
PORTLAND, Ore.--(BUSINESS WIRE)-- NuScale Power, LLC (NuScale) announced today it has awarded two new contracts to Framatome to design fuel handling equipment and fuel storage racks for NuScale’s VOYGR™ SMR power plant. This marks a critical supply chain and manufacturing development step, as NuScale fulfills customers’ project timelines to deploy its groundbreaking technology by the end of the decade.
“NuScale is proud to strengthen our relationship with Framatome, a renowned and widely respected international leader in nuclear energy,” said Dale Atkinson, NuScale Chief Operating Officer and Chief Nuclear Officer. “This agreement showcases how NuScale’s technology is meticulously developed with a premier international nuclear design and fabrication organization.”
SMR Nuclear Waste comparable to 'Traditional' PWRs/LWRs
https://www.anl.gov/article/argonne-releases-small-modular-reactor-waste-analysis-report
The spent fuel attributes vary somewhat between the designs, with VOYGR being similar to LWRs, Natrium producing a more concentrated waste with different long-lived isotopes, and Xe-100 producing a lower density but larger volume of spent fuel.
SMR Nuclear Waste comparable to 'Traditional' PWRs/LWRs
https://www.anl.gov/article/argonne-releases-small-modular-reactor-waste-analysis-report
The spent fuel attributes vary somewhat between the designs, with VOYGR being similar to LWRs, Natrium producing a more concentrated waste with different long-lived isotopes, and Xe-100 producing a lower density but larger volume of spent fuel.
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