NuScale is the second major U.S. reactor company to cut jobs in recent months.
Jan 5, 2024, 03:08 PM EST
|Updated Jan 8, 2024
NuScale Power made history as the first of a new generation of nuclear energy startups to win regulatory approval of its reactor design ― just in time for the Biden administration to begin pumping billions of federal dollars into turning around the nation’s atomic energy industry.
But as mounting costs and the cancellation of its landmark first power plant have burned through shrinking cash reserves, the Oregon-based company is laying off nearly a third of its workforce.