Japan NuScale Innovation and Japan Bank for International Cooperation have purchased a minority stake in NuScale through a $110 million equity purchase from Fluor Corp. Fluor Corp. will remain the majority owner of NuScale.

NuScale Power is a firm that aims to meet the diverse energy needs of customers across the world. NuScale has developed a modular light water reactor nuclear power plant to supply energy for electrical generation, district heating and other process heat applications. JBIC is a policy-based financial institution of the Japanese government that conducts lending, investment and guarantee operations while complementing private sector financial institutions. Fluor provides professional and technical services to deliver capital-efficient projects to clients.

“NuScale looks forward to having JNI as a significant NuScale investor to move the world closer toward our goals of decarbonization, while improving lives by supplying clean, affordable, reliable energy,” said John Hopkins, NuScale president. “This partnership capitalizes on NuScale’s ongoing momentum to bring America’s first SMR to market and to secure a better future for all.”