NuScale Power Corporation (NYSE:SMR) Q4 2022 Earnings Call Transcript

And depending upon those factors going forward, we think that will continue in the Western region, particularly as coal plants continue to retire at a faster pace than expected, as we see people looking to get benefit from the Inflation Reduction Act we’re making investments now as opposed to later on.

Marc Bianchi: Is it more likely that the increased subscription comes from the existing members increasing their level? Or are there other parties that are more likely? I don’t know if it’s a power producer that would be looking to take a piece of the project or — what are the likely candidates there?

Chris Colbert: All of the above. But to give you a data point, at one point, the U.S. members had signed on to 250 megawatts of electricity from the project, which could be a proxy of what they need. So they could do that at some point. We’re also seeing interest from investor-owned utilities and increasingly, folks that have large energy needs and they need reliability are also interested in it, particularly data centers and the like moving forward. So those are all opportunities that we see that aperture opening, not narrowing and more people becoming interested in it.

Operator: At this time, everyone, there are no further questions. I’ll hand the call back to NuScale CEO, John Hopkins, for any additional or closing remarks.

John Hopkins: Thank you, operator. We’re the only SMR design certified by the U.S. Nuclear Regulatory Commission. NuScale is well positioned to commercialize and deliver clean energy at scale. NuScale technology is essential to powering the global energy transition. And we are at the forefront of that effort with our work to deliver safe, scalable and reliable carbon-free nuclear power. I could not be prouder of our team for delivering on each and every one of our important goals over the past year. And we appreciate the support of our investors and partners around the world who are enabling us to deliver on the opportunities ahead. I look forward to what we will accomplish together in 2023. I’d like to thank all of you for your interest in NuScale and for participating in our call today. Operator?

Operator: And once again, everyone, that does conclude today’s conference. We would like to thank you all for your participation today. You may now disconnect.