Japanese government fund buys $110 million stake in Portland nuclear power company NuScale – By Mike Rogoway (The Oregonian/OregonLive) / April 4, 2022
An investment fund run by the Japanese government said Monday it has purchased a $110 million stake in NuScale Power, the Portland-based company working to engineer a new class of modular nuclear reactor.
NuScale said it is proceeding with plans to take its shares public later this year by merging with a publicly traded investment fund. When that happens, it said Japan Bank for International Cooperation will own 8% or 9% of NuScale stock.
NuScale’s owner, Texas energy company Fluor Corp., reiterated Monday it will retain a majority stake in the Portland company after it goes public. NuScale said Monday’s deal valued the business at $1.9 billion.
Founded in 2007 and based on technology developed at Oregon State University, NuScale seeks to revive the nuclear power industry with a design it says is less expensive and safer than conventional nuclear reactors.
