NuScale Power (NYSE:SMR) +2.4% pre-market Tuesday after signing a memorandum of understanding with Nucor (NUE) to explore the use of small modular nuclear reactors to power Nucor's electric arc furnace steel mills.
The companies also will explore an expanded manufacturing partnership through which Nucor (NUE) would supply its Econq net-zero steel products for NuScale (SMR) projects.
NuScale (SMR) said its VOYGR power plants, which can be scaled in different plant configurations to produce up to 924 MWe of output, are well-suited for industrial applications as a highly reliable source of carbon-free energy.
NuScale (SMR) said the agreement strengthens its partnership with Nucor (NUE), which invested $15M in the company in 2022.
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