The world hungers for a safe, clean, cost competitive nuclear power source for the future, and NuScale Power is a leader in the global competition to provide it.
The human numbers are compelling. Amazingly, 1.2 billion people in the world are still without easy access to electricity. Another 5.9 billion live in energy poverty. They are in underdeveloped and developing regions, and are longing for reliable, cost-effective, and sustainable energy to fuel their economic growth.
With its revolutionary small modular reactor (SMR) design, NuScale has committed itself “to people, planet, and prosperity.” Its SMR will provide advanced and scalable nuclear technology for the production of electricity, process heat, and water for billions of people in underserved regions.
But international demand for energy is not limited to developing countries. Canada, for example, is a country with a long history of nuclear operations and is also a very promising market for NuScale.
Oil-rich Gulf Cooperation Council countries are interested in reducing their reliance on burning fossil fuels, and for SMRs in particular, seeing them play a role in the production of clean water, process heat for refineries, and for distributed generation applications.
In large, developed regions of the world, what is perhaps the most desirable aspect of the NuScale SMR design is its potential as a replacement for aging, carbon-emitting coal-fired plants.
In fact, there is an ongoing global SMR race, with China and Russia among the major players. With a market expected to be worth $100 billion or more annually by 2035, NuScale is working to put the U.S. on a path to beat those competitors.