NuScale (SMR) moves from licensed design to actual fabrication
As seen on the 24/7 Wall St. homepage on November 5, 2026.
Our contract with Doosan Enerbility to fabricate the upper reactor coolant system of the NPM moves our Nuclear Regulatory Commission-approved design into actual build and sets the foundation for all modules to follow.
Metal is finally being cut on NuScale's licensed design, the step that separates a $1.8 billion paper reactor company from a manufacturer. Hopkins framed the Doosan order on the third quarter earnings call as the template for every module that follows, so delivery timelines now matter more than permits.
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NuScale Power has contracted Doosan Enerbility to fabricate the upper reactor coolant system of the NuScale Power Module, the first physical hardware work on a design that until now existed only on paper and in regulatory filings. That distinction matters because a company capable of cutting metal on a licensed nuclear reactor is a different kind of asset than one still awaiting permits.
CEO John Lawrence Hopkins, speaking on the third quarter 2026 earnings call, described the Doosan contract as the template for every module that follows. That framing signals NuScale intends the manufacturing relationship and the sequencing logic behind it to repeat across its full order book.
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The upper reactor coolant system is a core structural element of the NPM, and its fabrication under a real production contract brings the Nuclear Regulatory Commission-approved design into the build phase for the first time. Progress from here will be measured in delivery milestones rather than licensing checkpoints, which shifts what investors should track.
Shares were up 0.92% since Hopkins made the remarks, a modest initial reaction as the market absorbs what the transition from development-stage company to manufacturer means for valuation and execution risk going forward.
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Mentioned: SMR