NuScale ends Utah project, in blow to US nuclear power ambitions

[Marlin]

NuScale ends Utah project, in blow to US nuclear power ambitions

https://www.reuters.com/business/energy/nuscale-power-uamps-agree-terminate-nuclear-project-2023-11-08/

[GLW]

par for the course for NuScale,....

[fiveeleven]

Nov 8 (Reuters) - (This Nov. 8 story has been corrected to show that the Energy Department provided $600 million to NuScale and others to commercialize small reactor technology, not $600 million provided to NuScale, in paragraph 2)

Dilution is the solution. 6e+8 bucks up in smoke in yet another failed nuclear undertaking. Time for others to head to Mars with the Circle Bar W crew.

[GLW]

Nov 8 (Reuters) - (This Nov. 8 story has been corrected to show that the Energy Department provided $600 million to NuScale and others to commercialize small reactor technology, not $600 million provided to NuScale, in paragraph 2)

Dilution is the solution. 6e+8 bucks up in smoke in yet another failed nuclear undertaking. Time for others to head to Mars with the Circle Bar W crew.

NuScale has made a business at receiving DOE funds over the course of three decades, always researching, always developing, always negotiating,......never building,....

the guys who started NuScale made careers and then golden retirement parachutes on this business model,...

I mapped out the money pots they received and the money pits they dumped the money into on other threads,....

for reference: the earlier generation of post ww2 geterdone men went from explosions in 1945 to atoms for peace on the grid in 1957,....12 years, without computers, only slide rules,...

NuScale?!?!?!?!?

Well, they went from their first multi-million dollar grant to the next one, and the next one and then very comfortable retirement plans without so much as putting a shovel in the ground,...

we will not win WW3,....

[mjd]

 

[fiveeleven]

So the business model of the NMC has been revealed! A few subtle differences in that instead of DOE bucks they used corporate bucks from small mid-western utilities. Their success half-life was short - hatched in 99 to defunct in 08. A relatively small group made a relatively large amount of coin in a relatively short time for doing nothing besides the creation of the ACEMAN. Pretty good gig actually!

[GLW]

https://www.nukeworker.com/forum/index.php/topic,51451.0.html

ANS Winter Meeting: NuScale CEO on “unfortunate” UAMPS cancellation
23h ago
Nuclear News
This morning, just ahead of the plenary session “Space: The (Next) Nuclear Frontier,” American Nuclear Society Executive Director/CEO Craig Piercy invited John Hopkins, president and CEO of NuScale Power, to take the stage.....How’s the balance sheet? Hopkins began with what he called “level setting” by pointing to NuScale’s third quarter earnings. “Right now . . . from a financial perspective, we have $200 million in the bank. That's cash, no debt. So we have a healthy balance sheet,” he said.....“Very, very unfortunate”: Then Hopkins addressed the termination of the CFPP. “That's been a critical project for a lot of reasons over the years, a lot of good accomplishments came out of that project,” he said, which included navigating the Nuclear Regulatory Commission licensing process and getting approval for an emergency planning zone methodology......

https://www.aps.org/publications/apsnews/201202/nucleardesign.cfm

APS News
February 2012 (Volume 21, Number 2)

Companies Pioneer New Nuclear Designs

Two relatively new nuclear companies, NuScale Power and TerraPower, are cooking up new reactor designs, and meeting new challenges along the way.

Modern light water reactors generate, on average, 1000 megawatts of energy. Medium reactors can dip down to 700 MW. Ideas for smaller reactors have always been around, but never made it past the drawing board, as they seemed reasonable  only for small, isolated markets. But in the late 2000s, the cost of large nuclear power plants began to grow unwieldy. Even large buyers were forced to make drastic financial bets on new reactors. So around  2009, the market changed its mind about small reactors.
Paul Lorenzini (retired) is CEO of NuScale Power, which is aiming to have its first small modular reactor (SMR) up and running by 2020.

Paul Lorenzini - CEO NuScale Power, Retired
LinkedIn
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