이 기사는 2019년 12월 10일 08:00 thebell 에 표출된 기사입니다.

South Korea’s Doosan Heavy Industries & Construction (DHIC) and three domestic financial investors have completed a transaction to invest in U.S.-based small modular reactor (SMR) technology company NuScale Power.

DHIC and three local investment firms including IBK Securities Private Equity (PE) have completed the equity investment transaction with NuScale Power, an American private company that designs and markets small modular reactors, said an industry sources on December 5.

The transaction totaled roughly $42 million, about five percent more than the amount originally planned, with the financial investors increasing their investment. It was a two-phase transaction. DHIC and the investors first bought NuScale Power’s stake worth a total of $17 million in September, among which $4 million were invested by DHIC. Then the three investment firms again purchased a stake in the company, worth $25 million, at the end of November.

“The financial investors including IBK Securities reportedly increased their investment, with a very optimistic view of this investment opportunity,” said an industry source. “[They] seem to have considered several factors to be positive, such as a strong business relationship between DHIC and NuScale Power, the growth potential of the global nuclear power industry and viable options of exiting their investment.”

DHIC signed a Memorandum of Understanding (MOU) with NuScale Power earlier in April for the cooperation in developing small modular reactors. Under the MOU, DHIC will review the NuScale Power module's design for manufacturability. It will also manufacture and provide reactor modules based on the design, which are core components of nuclear power plants that Utah Associated Municipal Power Systems (UAMPS), NuScale Power’s first customer, is planning to build with the aim of operating the first plant in 2026.

“We are confident that DHIC will successfully supply a key component for the first SMR plant in the U.S. with our proven technology and experience in the nuclear power sector,” said Na Ki-yong, head of DHIC’s Nuclear Power Plant Business Group, when the MOU was signed.

This equity investment made by DHIC is apparently aimed at further strengthening the business relationship between the two companies. NuScale Power is commercializing small module reactors in support of the U.S. Department of Energy.

DHIC and the investors reportedly plan to add the clause that NuScale Power should list by 2023 to help exit their investment in the company. “NuScale Power is likely to mull over its listing venue as it intends to expand its business beyond the U.S. to other regions such as China, Russia and the Middle East,” said another industry source. “NuScale Power’s decision on its listing venue in the future is expected to impact DHIC and the investors’ return on investment.”

(By reporter Kim Byung-yoon)