NuScale Power’s SMR story is not just about reactor design or regulatory approvals. Supply-chain readiness is becoming an equally important part of the narrative. In the small modular reactor (“SMR”) industry, companies may secure customers and agreements, but actual deployment depends on whether they can manufacture components, secure fuel, and move projects forward on time. NuScale appears to be positioning itself well on that front.
The company has spent years working with suppliers on long-lead components that are critical for reactor deployment. Large forgings and specialized reactor equipment can take years to produce. Companies that wait until final project approvals to secure suppliers could face major delays.
NuScale’s relationship with Framatome is one example. The partnership gives the company access to fuel fabrication capabilities across the United States and Europe, including facilities in Washington state, Germany and France. This reduces dependence on a single geography and helps lower fuel supply risk as deployment activity increases.
The company also believes its choice of light-water reactor technology gives it another advantage. Unlike some advanced reactor developers pursuing less-established fuel pathways, NuScale uses fuel that already has an existing supply ecosystem. This could make commercialization easier and potentially faster.
Manufacturing partnerships are another important piece of the strategy. Doosan Enerbility has already been involved in NuScale module production planning for years. The company has also continued expanding supplier engagement as commercialization discussions progress around projects such as Tennessee Valley Authority (“TVA”) and RoPower. FEED work has already been completed for the Romanian project, while commercialization discussions tied to TVA continue in the United States.
In a sector where supply-chain bottlenecks and long-lead manufacturing constraints are major risks, having established industrial partners already producing components materially improves deployment readiness and increases customer confidence.
NuScale still faces the same risks that affect the broader SMR industry, including financing, execution, and regulatory timelines. But the company’s focus on fuel access, manufacturing partnerships and supplier readiness may prove to be one of its competitive advantages.
How OKLO & NANO are Boosting Supply Chain Capabilities
Oklo Inc.’s OKLO partnership with Centrus Energy on a joint venture focused on high-assay low-enriched uranium (HALEU) deconversion services at Centrus’ Piketon, OH, facility bodes well. The collaboration aims to strengthen domestic nuclear fuel supply capacity by combining Centrus’ enrichment expertise with Oklo’s advanced reactor development efforts. The planned site would also sit near Oklo’s proposed 1.2-gigawatt power campus, helping align fuel-cycle infrastructure with future deployment plans.
NANO Nuclear Energy Inc. NNE is approaching supply-chain readiness through fuel transportation infrastructure. Nano Nuclear’s subsidiary, Advanced Fuel Transportation Inc., holds an exclusive license for a patented HALEU transportation basket developed by U.S. national laboratories with Department of Energy backing. In March, Nano Nuclear also advanced a proprietary HALEU transport solution alongside GNS Gesellschaft für Nuklear-Service mbH. Nano Nuclear’s logistics-focused strategy targets a critical bottleneck for future advanced reactor deployment, though the company remains early-stage and pre-revenue.
SMR's Price Performance, Valuation & Estimates
Shares of NuScale Power have declined more than 60% over the past year, underperforming the industry.
In terms of trailing 12-month Price/Book, NuScale Power shares are trading at 3.52X.
See how estimates for SMR’s bottom line have been revised over the past 90 days.
NuScale Power currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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NuScale Power Corporation (SMR): Free Stock Analysis Report
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