NuScale Power went public via a SPAC merger with Spring Valley Acquisition in a $1.9bn deal.

NuScale Power, a designer and marketer of small modular reactors, went public via a SPAC merger with Spring Valley Acquisition, a special purposes acquisition company, in a $1.9bn deal. PIPE investors include Samsung C&T, DS Private Equity, Segra Capital Management, Pearl Energy, Doosan Heavy Industries and Construction, JGC Holdings, IHI, Enercon Services, GS Energy, Sarens and Sargent & Lundy. “The scale of our ambition is only matched by the world’s enormous decarbonization needs, and now is the right time to accelerate and expand our efforts to bring our trailblazing SMR technology to more customers around the world. Spring Valley will be a highly complementary strategic partner for NuScale as we enter this next phase of growth, with leadership that brings deep expertise in sustainable energy and a strong operating and investment record in the energy sector, including in nuclear power," John Hopkins, NuScale President and CEO. On April 28, 2022, Spring Valley announced that in a special meeting its shareholders voted to approve the proposed business combination with NuScale Power.