The US Nuclear Regulatory Commission (NRC) has certified NuScale’s VOYGR-12 small modular reactor (SMR).
This means companies and utilities can apply for federal licenses to operate VOYGR-12 nuclear reactors in the United States, a US Energy Department press release announces. Importantly, the VOGYR-12 is the first SMR to receive NRC certification.
The NRC certified the VOGYR-12 by publishing a final rule certification rule in The Federal Register, on 19 January 2023. The rule became effective on 21 January 2023. Rules do not become official until they publish them in The Federal Register.
Theoretically, this rule makes it possible for companies to receive federal licenses to install and operate VOGYR-12 SMRs. However, it does not give companies permission to install an SMR. Instead, they can apply for a license to operate one.
The NRC is the independent federal agency that regulates civilian nuclear reactors and radioactive materials in the United States. Any private SMR needs NRC approval and licensing. Thus, the NRC just cleared the way for SMRs in the United States.
NuScale can market SMRs
The NRC’s action means NuScale can market the VOYGR-12 to US utilities and other American companies.
The VOYGR-12 is a light water SMR that can generate up to 50 megawatts (50 million watts) of electricity. A VOYGR-12 is one-third the size of a normal nuclear reactor. Yet, each VOYGR-12 contains 12 modules. Each module contains a nuclear reactor and a steam generator. They can use the steam to generate electricity.
NuScale claims a VOYGR-12 can generate up to 924 megawatts of electricity on just 0.005 square miles of land. In contrast, it takes 94 square miles to generate that much power with wind. You need 17 square miles of present-day solar panels to generate 924 megawatts of electricity.
Could SMRs Generate America’s Electricity?
In contrast, a typical 1,000 megawatt (one billion watts or one gigawatt) nuclear power plant covers one square mile, the US Energy Department estimates. Thus, you can install a VOYGR-12 in places where there is no room for a traditional nuclear plant.
For example, at coal-burning power plant sites. The US Energy Department claims utilities could install SMRs at 394 coal-burning power plant sites across the United States. Replacing those plants with SMRs could generate 64.8 gigawatts (one billion watts) of electricity, the Energy Department speculates.
Hence, SMRs can meet some of America’s energy needs. However, they will need many more SMRs to keep America’s lights on.
To elaborate, the United States consumed 3.9 trillion kilowatt hours of electricity in 2021, the Energy Information Administration (EIA) estimates.
Small Modular Nuclear Reactors
NuScale will build the VOYGR-12 modules in a factory and ship them to construction sites. Each module is 76 feet tall and 15 feet wide and weighs 700 tons.
They can move the modules by truck, rail, ship, or barge by splitting them into three parts. Crews will assemble the parts at the plant sites. That means they can build SMRs faster than ordinary nuclear power plants.
The enormous advantage of SMRs is their ability to operate for years without refueling while generating no greenhouse gases. Intriguingly, NuScale claims a VOYGR-12 can operate for 12 years without new fuel. A VOYGR-12 can operate for 24 months fuel enriched at 5%.
Theoretically, the small size allows companies to use SMRs in industry and other commercial applications. For example, Rolls-Royce proposed the use of SMRs to power data centers. To explain, data centers are the giant facilities full of servers on which the cloud and the internet run.
Theoretically, the small size allows companies to use SMRs in industry and other commercial applications. For example, Rolls-Royce proposed the use of SMRs to power data centers. To explain, data centers are the giant facilities full of servers on which the cloud and the internet run.
An SMR Stock you can buy
Interestingly, NuScale Power Corp is a publicly traded company. Its shares trade as NYSE: SMR. Mr. Market was paying $11.05 for NuScale (SMR) on 27 January 2023.
NuScale began as a university research project in 2002. In 2020, NuScale received the first NRC design approval for an SMR. The US Energy Department gave NuScale $600 million to design and build the VOYGR SMR since 2014.
NuScale, the Energy Department, and Utah Associated Municipal Power Systems (UAMPS) are building a six-module VOYGR-6 SMR demonstration project at the Idaho National Laboratory. They hope to have this “Carbon Free Power Project” CFPPP operational in 2029 or 2030.
The CFPP will comprise six 77 megawatt modules that could generate 462 megawatts of electricity. They hope to apply for a license to operate the CFPP in 2024. NuScale will use the CFPP to demonstrate SMRs as a power source for an electric utility.
NuScale’s VOYGR SMRs
NuScale has signed 19 agreements to deploy SMRs in 12 countries, including Jordan, the United States, the Czech Republic, Romania, and Poland.
Those plants include the six-module VOYGR-6, which can generate 462 megawatts of electricity. NuScale claims a VOYGR-6 could power a refinery, processing 230,000 barrels of oil a day.
The VOYGR-4 contains four modules. They claim the VOYGR-4 can generate 308 megawatts of electricity. NuScale claims a VOYGR-4 could power a desalination plant capable of providing all the water for Capetown, South Africa, a city of 4.6 million people.
NuScale also built a control room simulator for a 12 module VOYGR SMR they call the Energy Exploration, or E2 Center. The E2 centers use computer modeling to create a virtual control room they can use to train SMR operators.
NuScale Working with Utilities
Several companies are partnering in NuScale’s SMR plans. Those partners include US utility Xcel Energy, the Fluor Corporation, Sargent & Lundy, BWXT Technologies Inc., the Science and Technology Center in Ukraine, a State Scientific Center for Nuclear and Radiation Safety in Ukraine, and Samsung.
Fluor is a global engineering, and construction company that builds energy projects. Xcel Energy (NASDAQ: XEL) is a US utility that provides electricity and natural gas to 5.8 million customers in eight Midwestern and Western states. Xcel provides electricity to several major cities, including Denver.
Sargent & Lundy designs power grids, renewable energy projects, and power plants. Sargent & Lundy claims to have designed 958 power plants worldwide.
Hence, NuScale has some serious help in its efforts to deploy SMRs. Hence, if you are seeking a green energy stock that could help fight climate change. I think NuScale Power Corp (NYSE: SMR) is worth examining.
