NuScale Power and Oklo navigate small modular reactor market shifts

Small modular reactor (SMR) developers NuScale Power and Oklo are navigating significant market volatility as they work toward establishing commercial operations. NuScale Power has seen its share price decline substantially from previous highs, though the company remains the only U.S. entity with an NRC-approved SMR design.

NuScale is currently positioned as a technology and equipment provider. The company is involved in a potential 6-gigawatt project with the Tennessee Valley Authority (TVA) and ENTRA1 Energy, which could involve up to 72 modules across several prospective sites.

In contrast, Oklo utilizes a vertically integrated model, developing, owning, and operating its own reactors. Oklo has secured a commercial agreement with Meta Platforms to provide power, with a planned reactor project in Ohio expected to be operational by 2030. While both companies face the risks associated with pre-revenue development, their differing business models offer distinct approaches to the growing corporate demand for nuclear energy.