Company Announcements

Represents the Largest SMR Deployment in U.S. History

Initiative Advances President Trump’s Vision for U.S. Energy Security and American Leadership in Advanced Nuclear Technologies

CORVALLIS, Ore.--(BUSINESS WIRE)--Sep. 3, 2025-- NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, today announced its strong support for ENTRA1 Energy’s American landmark agreement with the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts of NuScale SMR capacity across TVA’s seven-state service region—the largest SMR deployment program in U.S. history.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250903569182/en/

This historic program is expected to deliver enough carbon-free, baseload electricity to power at least the equivalent of the entire Dallas-Fort Worth metropolitan area, which is essential at a time when sectors such as hyperscale datacenters, artificial intelligence (AI), semiconductor manufacturing, and other critical infrastructure sectors are driving unprecedented electricity demand.

“We are honored that ENTRA1 has selected NuScale’s U.S. NRC-approved SMR technology for this historic deployment in delivering power to the TVA region," said John Hopkins, NuScale’s President and Chief Executive Officer. “ENTRA1’s team of energy and finance veterans brings exceptional value to our partnership—combining energy sales knowledge, investment and asset management capabilities, deep project finance expertise, and experience in delivering large-scale power infrastructure. Their experience is exactly what is required as we enter this critical next phase of commercializing and deploying NuScale Power Modules™ into ENTRA1 Energy Plants™. Together, we are ready as partners to meet America’s surging demand for reliable, carbon-free baseload power—powering AI data centers, critical mining, semiconductor manufacturing, and the energy-intensive industries that are driving our nation’s economic future.”

Delivering on President Trump’s Energy Vision

This American landmark partnership between ENTRA1 Energy and TVA, along with the ENTRA1-NuScale partnership, directly supports our nation’s energy dominance agenda and call to accelerate deployment of advanced nuclear technologies as a cornerstone of U.S. energy security.

By combining TVA’s longstanding experience as a community-serving utility, ENTRA1’s innovative development models, and NuScale’s NRC-approved SMR technology, this program strengthens American advancement in next-generation nuclear power production. NuScale remains the first and only U.S. NRC-approved SMR technology ready for commercial deployment, making this program a reality.

“Energy security is national security—and dependable electricity is the lifeblood of America’s future,” said Skip Alvarado, ENTRA1 Energy’s Chief Projects Officer. “It powers our AI data centers, fuels advanced manufacturing, and drives the critical industries that keep our nation strong. Without abundant, affordable baseload power, innovation stalls and supply chains break.”

About the Program

Under the agreement, the program aims to deploy six ENTRA1 Energy Plants™, each powered by multiple NuScale Power Modules™, to provide up to 6 GW of firm, 24/7 baseload power within TVA’s service region. ENTRA1 Energy Plants™ are owned and financed through ENTRA1.

NuScale’s modular, factory-fabricated design offers construction efficiency, and scalability, with applications ranging from electric power generation to hydrogen production, district heating, desalination, and industrial process heat.

About NuScale Power

Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The NuScale Power Module™, the company’s groundbreaking SMR technology, is a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.

As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.

NuScale and ENTRA1 Energy have a global strategic partnership, and ENTRA1 Energy is NuScale’s exclusive global strategic partner for commercializing and developing NuScale SMRs. ENTRA1 Energy is the one-stop-shop and single hub for the deployment, financing, investment, development, execution, and/or management of ENTRA1 Energy Plants™ with NuScale SMRs inside.

To learn more, visit NuScale Power’s website or follow us on LinkedIn, Facebook, Instagram, X, and YouTube.

About ENTRA1 Energy

ENTRA1 Energy is an American independent global energy production platform dedicated to increasing energy security by providing safe, reliable, baseload energy. ENTRA1 Energy is led by an executive team of energy, infrastructure, and finance sector veterans drawing on significant experience in the investment, development, and execution of critical infrastructure projects globally. ENTRA1 Energy is focused on producing and selling power by commercializing and deploying American nuclear and natural gas technologies in its power infrastructure assets.

ENTRA1 Energy is NuScale’s exclusive global strategic partner, and the two companies have an existing 50/50 joint venture company – ENTRA1 NuScale LLC. ENTRA1 Energy holds the global exclusive rights to the commercialization, distribution, and deployment of NuScale’s products and services. ENTRA1 Energy is the one-stop-shop and single hub for the deployment, financing, investment, development, execution, and/or management of ENTRA1 Energy Plants™ with NuScale SMRs inside.

To learn more, visit ENTRA1 Energy’s website or follow us on LinkedIn and X.

Forward Looking Statements

This release contains forward-looking statements (including without limitation statements "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements include statements relating to strategic and operational plans, including for NuScale’s E2 Centers, the role of advanced nuclear technology in energy transition, and NuScale’s positioning to serve customers, capital deployment, future growth, new awards, backlog, earnings and the outlook for the Company’s business.

Actual results may differ materially as a result of a number of factors, including, among other things, the Company’s liquidity and ability to raise capital; the Company's use of assumptions and estimates in modeling the financial impact of the Partnership Milestones Agreement; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; intense competition in the industries in which we operate; failure of our partners to perform their obligations; cyber-security breaches; foreign economic and political uncertainties; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of our control, including weather conditions, pandemics (including COVID-19), public health crises, political crises or other catastrophic events; the use of estimates and assumptions in preparing our financial statements; client delays or defaults in making payments; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; uncertainties, restrictions and regulations impacting our government contracts; the inability to hire and retain qualified personnel; the potential impact of certain tax matters; possible information technology interruptions; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; damage to our reputation; failure to adequately protect intellectual property rights; asset impairments; climate change and related environmental issues; increasing scrutiny with respect to sustainability practices; the availability of credit and restrictions imposed by credit facilities for our clients, suppliers, subcontractors or other partners; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure by us or our employees, agents or partners to comply with laws; new or changing legal requirements, including those relating to environmental, health and safety matters; failure to successfully implement our strategic and operational initiatives and restrictions on possible transactions imposed by our charter documents and Delaware law. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company’s results may differ materially from its expectations and projections.

Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission (the “SEC”), including the general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Cautionary Note Regarding Forward-Looking Statements” and “Summary of Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequent filings with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale's Investor Relations Department at ir@nuscalepower.com. The Company disclaims any intent or obligation other than as required by law to update the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250903569182/en/

Media Contact

Chuck Goodnight, Vice President, Business Development, NuScale Power
media@nuscalepower.com

Investor Contact

Rodney McMahan, Senior Director, Investor Relations, NuScale Power
rmcmahan@nuscalepower.com

Source: NuScale Power