Small Nuclear Developer NuScale to Go Public Through SPAC Deal
- Combining with Spring Valley has $1.9 billion enterprise value
- NuScale is only company to win NRC approval for SMR technology
John Hopkins, chairman and chief executive officer of NuScale Power.
Photographer: Aaron M. Sprecher/BloombergThis article is for subscribers only.
NuScale Power LLC, a nuclear technology company that’s majority-owned by Fluor Corp., is planning to go public through a deal with blank-check company Spring Valley Acquisition Corp.
The combination of Portland, Oregon-based NuScale and the special purpose acquisition vehicle will have an estimated pro-forma enterprise value of $1.9 billion and Fluor will have a 60% stake, according to a statement Tuesday. NuScale anticipates gross proceeds of as much as $413 million.