NuScale: A Reactor’s Ghost

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NuScale Power, they say, possesses an opportunity. A grand, shimmering possibility in the realm of atomic energy. A renaissance, indeed! One might even say a resurrection, though what exactly is being resurrected remains… debatable. They offer small modular reactors, a concept as neat and tidy as a samovar on a snowy afternoon. But a reactor without a sale is like a nobleman without an estate – all title and no substance. And thus, we find ourselves peering into the fog, attempting to discern whether this is a genuine innovation or merely a phantom, haunting the balance sheets of hopeful investors.

What, Precisely, Does NuScale Do?

Currently, NuScale’s revenue appears to be sustained by the delicate art of consulting for Fluor, a construction behemoth. Fluor, in turn, is entangled with RoPower, a Romanian power company. RoPower, with a seriousness that borders on the theatrical, is contemplating the feasibility of assembling six of these NuScale modules – a sort of atomic Lego set, if you will. The very notion! To link them together, to create a power source… it is almost poetic, if one overlooks the inherent dangers of splitting the atom.

This, of course, would be NuScale’s first sale. A momentous occasion, if it ever arrives. It would allow them to prove that their technology functions, that these miniature reactors can be manufactured with some semblance of efficiency and, crucially, without exploding. The problem, as is so often the case, lies in the waiting. RoPower’s decision, initially promised by the end of 2025, has now been postponed to the hazy future of late 2026 or early 2027. A delay, naturally, explained by a complex web of bureaucratic procedures and, one suspects, a healthy dose of Romanian procrastination.

NuScale, to their credit, are not placing all their hopes on RoPower’s whims. They’ve also partnered with ENTRA1 Energy and the Tennessee Valley Authority, engaging in similar deliberations. But alas, no signed agreements. It’s a parade of promises, a ballet of negotiations, and yet… the music remains stubbornly silent.

The Opportunity, If It Should Arrive

Most sensible investors would be wise to observe from a distance, to wait until NuScale has demonstrated the ability to actually build these reactors and, more importantly, to keep them from melting down. There is, undoubtedly, a long-term potential here, a possibility that extends far beyond a single sale. Small modular reactors could, theoretically, revolutionize the nuclear industry. But theory, as any seasoned gambler will tell you, rarely translates into profit.

The smaller size of these reactors is supposed to reduce costs and improve safety, compared to the colossal, site-built behemoths of the past. The idea is that they could be transported more easily, placed closer to population centers, and constructed in a factory setting, benefiting from standardized processes. One envisions a streamlined operation, a symphony of efficiency. But one also envisions endless inspections, mountains of paperwork, and the ever-present specter of regulatory hurdles.

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RoPower’s plan to link six reactors is… adequate. But the truly intriguing prospect lies elsewhere. Consider the data centers housing artificial intelligence. AI, that insatiable, power-hungry beast, demands a constant and reliable energy source. Placing an SMR next to a data center, providing a dedicated power supply, would solve numerous problems. It would eliminate the need for the local utility to build costly infrastructure, streamlining the process and reducing the overall expense. A most elegant solution, wouldn’t you agree?

If artificial intelligence truly is the world-altering technology that many predict, NuScale Power could find itself at the heart of the revolution, powering the future. But this is contingent on a single, crucial event: securing that first sale and proving that their technology is more than just a dream. A precarious position, to say the least.

A Modest Suggestion: Patience

The opportunities before NuScale Power are… tantalizing. However, even the most audacious investors might consider exercising a degree of restraint, waiting until the company has at least one reactor successfully operational. Even then, expect years of losses as they scale up production. You might forgo some potential gains by delaying your investment, but the potential rewards are not limited to a single event. And waiting, perhaps even until the company achieves sustainable profitability, would shield you from the risk of NuScale Power failing to fulfill its promises. A prudent course, wouldn’t you say? After all, in the realm of finance, as in life, a little patience can save a great deal of heartache… and a considerable sum of money.

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2026-01-28 22:17