Nuscale Power Gains $40 Million From JGC Corporation to Develop Modular Nuclear Tech

By Thomas Price | Monday, 05 April 2021 | Business, Sustainability & Environment

With a significant focus being placed on alternative energies to traditional fossil fuels, one of the most overlooked possible sources has often been nuclear energy. However, Nuscale Power has been anything but overlooked in recent months, with JGC Corporation investing heavily in the nuclear energy company. The new investment will help JGC Corporation continue to put business focus on environmental sustainability and carbon neutrality while Nuscale Power is further assisted in its efforts to create company-built nuclear power plants.

Nuscale Power and Nuclear Energy

Nuscale Power is a nuclear energy company that has garnered significant success in recent years. A large reason for this is the Nuscale Power Module. The Nuscale Power Module (NPM) is the hallmark product of the company and has become an incredibly efficient source of energy for the many businesses who choose to utilize it.

The NPM can produce a whopping 77 MWe per module, representing a 25% increase in total power output in comparison to previous versions made by the company. When put together to create the flagship 12 module power plant, Nuscale can create 924 MWe of carbon-free energy. The company also offers smaller 4 and 6 module plants for businesses not looking to harness as much energy. These smaller module plants can generate 308 MWe and 462 MWe, respectively.

Nuscale Power also made news last August by becoming the first and only business to receive approval from the United States Nuclear Regulatory Commission for their small modular reactor. This crucial business step allowed for an acceleration of commercial nuclear projects around the world and garnered attention from many businesses looking to purchase clean, affordable power. As a result, Nuscale Power has received investments from JCG Corporation alongside majority investor Fluor.

JCG Corporation Investment and Environmental Goals

In a recent press release, Nuscale and Fluor announced that JCG Corporation has invested $40 million into the company. This marks the first commercial relationship and investment from a Japan-based business for Nuscale. The investment is a major part of JCG Corporation’s environmental goals, alongside those of the nation of Japan. In fact, a large part of the company’s initiative is the construction of renewable energy plants, making the investment in Nuscale even more logical.

When commenting on the investment, COO and President of JCG Corporation, Tadashi Ishizuka, said, “The JGC Group embraces the goal of ‘Carbon Neutral in 2050’ as committed by the Japanese government last year. Our investment in NuScale technology, with its enhanced safety features, will enable JGC to expand our EPC business and deliver a zero carbon resource to the growing demand of global energy market.”

CEO and Chairman of Nuscale Power, John Hopkins, also added, “JGC HD’s investment and partnership with NuScale Power is a welcome endorsement of our SMR technology and its international viability. NuScale looks forward to demonstrating how our cleaner and safer advanced nuclear technology can bring numerous benefits – economic and environmental – to countries around the world as they seek innovative solutions to complete a clean energy transition.”

The investment will allow Nuscale to expand business internationally as well as begin the process toward commercialization on its carbon-free, modular nuclear power plant project in Utah.

About the Author

Thomas Price

Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.