NuScale

Fluor, the largest publicly traded engineering-and-construction firm in the U.S., is expected to announce Thursday that it has purchased a majority stake in NuScale, which is based in Corvallis, Ore., for about $3.5 million and will inject working capital.

Fluor Buys Stake in Reactor Maker Rebecca Smith 2011

Fluor, the largest publicly traded engineering-and-construction firm in the U.S., is expected to announce Thursday that it has purchased a majority stake in NuScale, which is based in Corvallis, Ore., for $30 million.

unknown title 2011

Fluor, the largest publicly traded engineering-and-construction firm in the U.S., is expected to announce Thursday that it has purchased a majority stake in NuScale, which is based in Corvallis, Ore., for $30 million.

unknown title 2011

NuScale, bolstered by President Barack Obama's support of nuclear energy, recently received a vote of confidence from investor Maurice Gunderson, a partner at San Francisco-based CMEA Capital and a graduate of Oregon State, who called NuScale's modular design "game-changing" and its potential market "gargantuan."

Philadelphia Business News - Local Philadelphia News | The Philadelphia Business Journal 2010

Now a startup called NuScale has a plan to replace traditional nuclear power plants with its mini nuclear modules.

TreeHugger 2009

An earlier version of this story incorrectly said the purchase price of the stake in NuScale was $30 million.

Fluor Buys Stake in Reactor Maker Rebecca Smith 2011

NuScale plans to seek design certification from the Nuclear Regulatory Commission in 2013, and the company hopes to have units operating by 2020.

Fluor Buys Stake in Reactor Maker Rebecca Smith 2011

Harold McFarlane , interim associate director for nuclear technology at the Idaho National Lab, said NuScale will probably be able to get its design approved by federal regulators.

Fluor Buys Stake in Reactor Maker Rebecca Smith 2011

Fluor, which ended the second quarter with $2.2 billion worth of cash and an order backlog valued at $40 billion, said it is making the investment in NuScale in order to participate in a potentially important trend in the nuclear industry favoring less costly reactors.

Fluor Buys Stake in Reactor Maker Rebecca Smith 2011

A receiver appointed by a federal judge in New Haven, Conn., has signed off on Fluor's purchase of the stake, which will also provide NuScale with working capital.

Fluor Buys Stake in Reactor Maker Rebecca Smith 2011