NuScale Power (SMR +2.14%). The name sounded promising. A little too promising, maybe. It’s been a rough ride for anyone who bought the hype. Peaked last year, they said. Now it’s down seventy percent. A classic case of optimism crashing into reality. The kind of thing that makes a man reach for the rye.
They’re building small modular reactors. Sounds neat on paper. But paper doesn’t generate electricity, and enthusiasm doesn’t pay the bills. This isn’t about innovation; it’s about execution. And right now, NuScale is mostly talking. Years of promises, a few MOUs, and a whole lot of hope. Hope is a lousy investment strategy.
The Long Road to Nowhere
They need contracts. Real contracts, with signatures in ink that won’t fade. They’ve got a project in Romania, RoPower. Six modules. Sounds ambitious. But the Romanian operator wants a trial run with just one reactor first. A single reactor. Like testing a battleship with a rowboat engine. It’s a start, I guess, but they’re looking at 2033 for full operation. That’s a decade of waiting, and a decade of burning cash.
Then there’s the TVA deal. A non-binding agreement to develop six gigawatts of capacity. Non-binding. Those are two words that should send shivers down any investor’s spine. They took a $495 million expense just because of this agreement. It’s like paying for a ghost. A very expensive ghost.
Building these things isn’t cheap. They need a supply chain, a factory, skilled labor. Billions of dollars. Billions. And they expect investors to just write checks while they figure things out? The world doesn’t run on good intentions.
A Crowded Room
They aren’t alone in this game. Oklo is sniffing around, using recycled fuel. Sounds clever, but it’s still a long shot. Then there’s GE Vernova, a heavyweight with a reactor already selected by the TVA. They’re further along, more established. NuScale is playing catch-up in a race with bigger, faster runners.
NuScale has a lot of work ahead. Locking in commitments, scaling production, competing with giants. It’s a long shot. A very long shot. The technology might be intriguing, but it’s years from generating revenue. For most investors, the smart play is to stay on the sidelines. Let someone else burn the money. There are easier ways to lose a fortune.
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2026-02-16 04:33