Since peaking in late 2025, NuScale Power’s stock has tumbled by 64%, reflecting mounting concerns over long development timelines and execution risk. The company went public in May 2022 at roughly ten dollars per share and reached an all-time high near fifty-seven dollars before the recent sell-off. This volatility underscores the speculative nature of a pre-revenue start-up still several years away from the first commercial deployment of its SMR technology.

Fluor, an early backer holding approximately 39% of NuScale’s equity, initiated a sale of part of its stake last October, netting roughly six hundred million dollars by selling at an average price near forty dollars per share. The engineering firm will convert its remaining Class B units into common shares and plans to exit its entire position by the close of Q2 2026. This forthcoming supply of shares could further weigh on NuScale’s market valuation.

NuScale and Fluor are jointly developing the RoPower project at a former coal site in Romania, planning six SMR modules to deliver a combined 462 megawatts of carbon-free baseload power. Fluor serves as prime contractor for the Phase 2 front-end engineering and design study, leveraging 14 years of partnership. Approval to proceed this year would mark NuScale’s first international site, though commercial operation is not expected until around 2030.

A recent techno-economic assessment conducted with Oak Ridge National Laboratory demonstrates that NuScale’s uprated 77 MWe module can reliably supply 1.3 million kg/h of high-temperature process steam at 400 °C and 4.1 MPa, alongside 73 MW of electric power. The report finds that configurations of four to twelve modules, especially hybrid combinations with gas boilers, offer both high reliability and potential for selling excess power back to the grid. These findings strengthen the case for SMRs in industrial decarbonization, though widespread adoption remains years away.