Shares of NuScale Power Corp. (SMR) surged by 6.22% in the pre-market trading session on Tuesday, riding on the growing momentum for its innovative small modular reactor (SMR) technology.
NuScale Power's SMR technology offers a modular and scalable solution to meet the energy needs of companies striving to reduce their carbon footprint. As the only company to have secured a Standard Design Approval from the U.S. Nuclear Regulatory Commission for its SMRs, NuScale is well-positioned to capitalize on the increasing demand for clean and reliable energy sources.
The rising popularity of SMRs is driven by their potential to lower costs and accelerate the deployment of nuclear reactors, making nuclear energy more accessible and economically viable. Major technology companies and financial institutions have expressed robust support for nuclear power, further fueling the demand for NuScale Power's SMR technology and driving optimism about the company's growth prospects.
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