NuScale Power Corporation (SMR) is experiencing a rise in its stock price today, driven by a combination of strategic developments and market dynamics. The recent launch of the first NuScale Energy Exploration Center in Accra, Ghana, has garnered attention. This initiative, supported by the U.S. Ambassador to Ghana, aims to provide hands-on education and training for operating advanced civil nuclear reactors, marking a significant step in expanding NuScale's influence in the African energy sector. The center is part of a broader partnership that includes a nuclear welding certification program and collaboration with Texas A&M University to develop SMR-related curricula, highlighting NuScale's commitment to fostering a skilled workforce in nuclear energy.
Additionally, the nuclear power market is projected to grow significantly, with a new report indicating an increase from USD 38.84 billion in 2024 to USD 44.71 billion by 2029. This growth is fueled by escalating demand for clean energy and the increasing adoption of SMR technology, which positions NuScale Power favorably within the industry. The strategic importance of nuclear power in energy policies worldwide, coupled with the volatility of fossil fuel prices, further enhances the attractiveness of nuclear energy solutions like those offered by NuScale.
NuScale Power's stock is currently trading at $21.24, reflecting a 4.73% increase from its previous close of $20.28 and a 1.17% rise from its opening price of $21.00.