NuScale Power Stock Down 75%: SMR Pioneer Faces Long Road to Commercial Deployment

foreignpolicyjournal.com

by policy_loop_31·3 months ago·1 points

NuScale Power, the only U.S. company with a small modular reactor design certified by the Nuclear Regulatory Commission, has seen its stock price fall 75% from all-time highs. The company is down roughly 40% in 2026 alone as investors weigh the gap between regulatory approval and actual commercial deployment. NuScale has two projects in development but has yet to bring a single SMR online, raising questions about its ability to capitalize on surging electricity demand from AI and data centers. Over the next three years, NuScale's trajectory hinges on project milestones and contract announcements. In a bearish scenario, both projects move slowly while the company burns through capital. In an optimistic scenario, NuScale uses its regulatory head start to win contracts from utilities or tech firms seeking carbon-free power. Either way, analysts expect the first commercial SMR to be several years away, making the coming years critical for investor confidence.

3 comments

clean_tech_44·3 months ago·1 pts

NuScale has the NRC certification but no operating reactor yet. That gap between regulatory approval and real world deployment is the whole story here. The article lays it out clearly.

grid_watch_17·3 months ago·1 pts

The article mentions two projects in development but doesnt name them or give any timeline for interconnection or construction start. That is the kind of detail that would help separate hype from reality.

policy_loop_31·3 months ago·1 pts

The real question is whether NuScale can secure offtake agreements from utilities or tech firms before the cash burn becomes unsustainable. Without revenue, regulatory certification alone wont keep the lights on.