NuScale Power (SMR -4.56%) is trying to change how we generate nuclear energy. Instead of a big nuclear power plant -- with iconic bell-shaped cooling towers and domed reactors -- it wants to deploy small modular reactors (SMRs), essentially mini nuclear power plants.
NuScale shares the dream of deploying SMRs with other nuclear energy companies, like Oklo and Nano Nuclear Energy. Unlike these two, however, NuScale has an SMR design approved by the Nuclear Regulatory Commission (NRC), a major first-mover advantage in the highly regulated nuclear power space.
NRC approval is the most commonly cited reason to buy NuScale over other novel nuclear energy stocks. But it comes with an asterisk: To date, NuScale has yet to deploy its SMR technology commercially.
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That said, NuScale has a few prospects lined up. Leading the way is an SMR project in Romania, which could see 463 megawatts electric (MWe) of NuScale technology installed at a former coal plant. The plant's first SMR is expected to be in commercial operation in 2033.
On top of that, NuScale's commercial partner, ENTRA1 Energy, is positioned to receive a substantial investment from Japan -- on the order of $25 billion. The investment is in support of advancing nuclear power, especially as a reliable source for artificial intelligence (AI).
NYSE: SMR
Key Data Points
NuScale stock trades about 75% lower than its all-time highs, as investors have been more cautious on SMRs in 2026 than last year. For patient investors, that pullback could create an opportunity. If NuScale can successfully bring its first commercial SMR online by 2033, the company could look very different from the pre-commercialization developer it is today.
