NuScale Power brings back workers


NuScale Power Inc. is recalling furloughed workers and hopes to raise new rounds of capital.

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NuScale Power Inc. is recalling furloughed workers and hopes to raise new rounds of capital.

The Corvallis-based nuclear energy startup expects to fully restore operations by the end of the year.

NuScale, which is developing scalable nuclear reactor technology, furloughed most of its 100-person work force and halted most of its operations earlier this year after it’s primary financial backer, the Michael Kenwood Group, became the focus of a federal U.S. Securities & Exchange Commission probe.

The company has been using an undisclosed amount of bridge funding from individual investors to cover its operational expenses and bring its work force back from 40 to around 60.

Read more at Sustainable Business Oregon.

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