• In March 2026, Framatome announced it had expanded its long-running partnership with NuScale Power to use both its European facilities and the Richland, Washington plant to fabricate NRC-approved SMR fuel, including at least 444 fuel assemblies for NuScale’s first U.S. customer as early as 2030.
• This move effectively builds a transatlantic fuel supply chain around NuScale’s design, an important step toward turning early SMR interest in Europe and the U.S. into deliverable projects.
• Next, we’ll look at how securing Framatome’s European and U.S. fuel fabrication capacity may reshape NuScale Power’s long-term investment narrative.

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NuScale Power Investment Narrative Recap

To own NuScale, you have to believe its licensed SMR design can convert today’s small revenue base into real projects, despite large losses and legal overhangs. The Framatome expansion strengthens NuScale’s ability to supply fuel if projects proceed, but it does not change the near term reality that delivering a first commercial plant and managing cash burn remain the key catalyst and the biggest risk.

The Framatome announcement matters most when set against NuScale’s recent US$355.8 million net loss in 2025 and its new US$1.0 billion at the market equity program. Locking in transatlantic fuel fabrication capacity complements these capital raising efforts by showing NuScale is building out the physical pieces required for deployment, even as investor attention stays fixed on funding needs, RoPower timelines and the outcome of the ENTRA1 related lawsuits.

But against this operational progress, investors should also be aware of...

NuScale Power's narrative projects $402.3 million revenue and $42.2 million earnings by 2028.

Uncover how NuScale Power's forecasts yield a $21.27 fair value, a 72% upside to its current price.

Exploring Other Perspectives

Some analysts were far more optimistic before this news, assuming revenue could reach about US$941.3 million and earnings US$111.3 million by 2028, yet those bullish views sit uncomfortably beside concerns that NuScale’s cash flows still lean heavily on early projects like RoPower, reminding you that opinions can differ sharply and may shift again as new information emerges.

Explore 14 other fair value estimates on NuScale Power - why the stock might be worth less than half the current price!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your NuScale Power research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free NuScale Power research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate NuScale Power's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.