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Why NuScale Power Stock Topped the Market on Thursday

Source The Motley Fool

Next-generation nuclear power plant developer NuScale Power (NYSE: SMR) delivered some good news to investors on the second-to-last trading day of the week. On the back of this, bullish players pushed the company's stock up by 1.4% on the day, providing an encouraging contrast to the 0.2% slump of the S&P 500 index.

Romanian project advances

In a regulatory document filed with the U.S. Securities and Exchange Commission (SEC), NuScale reported that it signed a task order for the supply of services for a small modular nuclear reactor project currently being undertaken in Romania. The arrangement is between one subsidy of the company and Fluor Transworld Services, a unit of American engineering company Fluor Corporation.

Under the terms of the order, the subsidy, NuScale Power OVS, is to supply certain front-end engineering and design services for the project.

The nuclear reactor is to be built on the site of a former coal plant in the municipality of Doicesti. This past July, hailing the project as a model of U.S.-Romanian business cooperation, the U.S. embassy in the country wrote in a press release that the plant will provide "clear, carbon-free power, create jobs, spur economic growth, and help establish Romania as a clean energy leader in the region."

Reputation booster

As far as NuScale is concerned, the project will also bolster the company's reputation as a developer of small modular nuclear reactors, a scaled-down 21st century approach to that form of energy generation. Investors will be hoping the company can scale up to other projects around the world, perhaps even in nuclear-adverse countries such as its native U.S.

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