06 April 2021
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Japanese engineering, procurement, and construction firm JGC Holdings Corporation (JGC HD) has agreed to invest USD40 million in small modular reactor developer NuScale Power. It will also partner with Fluor Corporation - NuScale s majority investor - on the deployment of NuScale power plants.
How a NuScale SMR plant could look (Image: NuScale)
JGC HD said it will invest USD40 million in NuScale through a special-purpose company established by JGC s US subsidiary. It plans to participate in NuScale s first SMR plant through JGC Corporation, the group company that handles overseas EPC business. JGC Corporation will collaborate with Fluor. In the medium and long term, JGC Corporation will work with Fluor to secure and execute SMR EPC projects on a global basis, and intends to seek opportunities in integrating SMRs with renewable energy, as well as with hydrogen production and seawater desalination, JGC said.
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NuScale Power gets $40M Equity Investment from a Japanese Firm that Will Also Be Its EPC
NuScale Power announced April 5 on that it has completed an investment and strategic partnership agreement with JGC Holdings Corporation (JGC HD), a holding company of one of the world’s leading EPC contractor group companies headquartered in Japan.
As part of a commercial relationship with Fluor Corporation, NuScale’s majority investor and EPC partner in the United States, JGC HD will provide a $40 million cash investment in NuScale Power and partner with Fluor on the deployment of NuScale Power Plants.
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NuScale Power secures $40M, support for SMR deployment from JGC Holdings
NuScale Power has finalized an investment and strategic partnership agreement with JGC Holdings Corporation (JGC HD), a holding company of the world’s leading EPC contractor group companies headquartered in Japan. As part of a commercial relationship with Fluor Corporation NuScale’s majority investor and EPC partner in the United States JGC HD will provide a $40-0million cash investment in NuScale Power and partner with Fluor on the deployment of NuScale Power Plants.
The announcement marks the first commercial relationship and investment in NuScale Power from a Japanese-based company and is indicative of growing Japanese and global interest in NuScale’s groundbreaking small modular reactor (SMR) technology, the company said.