New York, June 17, 2026, 10:06 (EDT)
- NuScale Power shares rose 3.9% to $10.28 in early New York trading, with volume at about 7.7 million shares.
- NuScale said Paragon won a contract to finish final design work on protection systems for its small modular reactor.
- The move comes as small-reactor procurement is drawing fresh attention after Sweden’s Vattenfall chose Rolls-Royce SMR for a planned nuclear project this week.
NuScale Power shares rose in early New York trading on Wednesday after the nuclear technology company said Paragon had been awarded a contract to complete final design work on key protection systems for its small modular reactor technology.
The stock was recently up 39 cents, or about 3.9%, at $10.28, compared with a modest gain in the S&P 500 tracker SPDR S&P 500 ETF Trust.
The timing matters. NuScale is trying to show that its regulatory position and supplier work can move toward commercial deployment, not just investor presentations. A small modular reactor, or SMR, is a smaller nuclear reactor design that is intended to be factory-built and deployed in modules rather than as one large conventional plant.
Under the contract, Paragon will complete engineering and design work for NuScale’s Highly Integrated Protection System, or HIPS, a digital platform used to help monitor and protect reactor operations. The work covers systems tied to reactor protection, post-accident monitoring, control-room habitability and software validation, NuScale said.
John Hopkins, NuScale’s president and chief executive, called Paragon a “valuable technology partner.” Paragon CEO Doug VanTassell said the work was “foundational to bringing the first SMR of its kind into operation.” NuScale Power
The move was part of a broader early rally in advanced-nuclear names. Oklo rose 3.2% and Nano Nuclear Energy gained 8.2%, outpacing the broader market.
Competition is tightening at the same time. Vattenfall’s project company Videberg Kraft selected Rolls-Royce SMR to supply three reactors in Sweden, choosing it over GE Vernova Hitachi, Reuters reported this week. That deal does not directly affect NuScale’s order book, but it shows utilities are moving from study work toward technology selection.
NuScale says parts of 12 power modules are already in production and that each NuScale Power Module can generate up to 77 megawatts of electric output. MWe, or megawatts electric, is the power actually sent out as electricity.
The company remains in a pre-commercial phase. In its first-quarter filing, NuScale reported revenue of $565,000, a net loss of $46.7 million and cash and cash equivalents of $341.1 million at March 31, alongside short-term investments of $549.0 million.
Hopkins said in May that demand for reliable carbon-free power “has never been greater,” pointing to NuScale’s liquidity, supply chain work and talks tied to Tennessee Valley Authority through its partner ENTRA1. NuScale Power
But the stock still carries a sharp execution risk. NuScale’s latest quarterly filing lists risks including its ability to sign binding customer contracts, delays in manufacturing, losses, whether SMR power can be cost competitive, and a constrained supply chain. The same filing said Paragon supply-chain readiness and design contracts after March 31 totaled $25.8 million, a reminder that today’s announcement adds technical progress before it proves a revenue stream.
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