소형모듈원전(SMR) 10개사 비교보고서

2020년 9월 NRC 표준설계승인을 받은 SMR은 뉴스케일이 처음이자 유일하다고 적었다. 2025년 5월에는 77MWe 모듈 설계도 승인받았다.

In September 2020, the Company's 12-module design (currently approved for 160 million watts of thermal power or 50 MWe per NPM) became the first and only SMR to receive an SDA from the Nuclear Regulatory Commission … In May 2025, the NRC finalized their review and approved the Company's second SDA application and the associated licensing topical reports for NuScale's 6-unit 77 MWe NPM design.

첫 고객은 루마니아의 RoPower다. 독점 사업화 파트너 ENTRA1은 미국 테네시강유역개발공사(TVA)와 12모듈 발전소 최대 6곳을 협상 중이다.

The customer is RoPower Nuclear S.A … ENTRA1 is currently in negotiations with Tennessee Valley Authority ("TVA") to deploy up to six 12-module power plants that would house the NPM design

모듈을 납품하는 확정 계약을 맺은 고객은 없고, 앞으로 맺는다는 보장도 없다고 스스로 적었다.

We have not yet entered into a binding contract with a customer to deliver NPMs, and there is no guarantee that we will be able to do so

Since 2007, over $1.8 billion has been invested in the development of NuScale technology, including more than $578.3 million from DOE under a series of cost-share programs

발전소를 직접 짓고 소유·운영하면서 전기와 열을 고객에게 직접 파는 방식을 택했다.

In our differentiated build, own, and operate business model, we plan to sell power in the forms of electricity and heat directly to customers

오로라 발전소 한 곳의 출력은 15~75MWe이고, 100MWe 이상으로 키울 수 있다고 적었다.

to produce 15-75 megawatts electric ("MWe") and has the potential to expand powerhouse size to produce 100 MWe and higher

데이터센터 회사 스위치와 12GW 전력 공급 기본 계약을 맺었고, 메타와는 오하이오주 1.2GW 발전 단지를 계획하고 있다.

In December 2024, we signed a 12 gigawatt (GW) Master Power Agreement with Switch, Ltd … planned 1.2 gigawatt power campus in Pike County, Ohio in connection with a

아이다호 첫 상업 발전소용으로 미국 에너지부에서 HALEU 5톤을 배정받았다.

received a fuel award of five metric tons of HALEU produced from recovered uranium from previously irradiated EBR-II fuel from INL for a commercial Aurora powerhouse in Idaho

In December 2024, we signed a 12 gigawatt (GW) Master Power Agreement with Switch, Ltd … one of the largest corporate power purchase agreements ("PPA") in history

Xe-100 한 기는 80MWe 발전기를 돌리고, 보통 네 기를 묶은 320MWe 발전소로 짓는다.

When configured for electricity generation, each reactor can power an 80 MWe turbine generator … The Xe-100 is expected to be commonly deployed in its optimized four-reactor configuration of 320 MWe

다우, 아마존, 센트리카가 선택권을 모두 쓰면 미국과 영국에서 11GWe가 넘는 원자로 144기 규모가 된다고 적었다.

X-energy has three high-quality customers in Dow, Amazon, and Centrica … these three customers provide us with a more than 11 gigawatts electric ("GWe"), 144 reactor pipeline across the U.S. and the U.K.

다우 텍사스 시드리프트 부지의 건설허가 신청을 NRC가 18개월 일정으로 심사 중이며, 허가는 2027년 1분기로 예상한다.

the NRC established an 18-month review schedule to complete its safety and technical reviews for the Dow Construction Permit Application … with an expected review completion by late 2026 and receipt of the CPA expected in the first quarter of 2027

TRISO-X 연료는 15.5%로 농축한 HALEU를 쓰고, 테네시주 오크리지 공장에서 만든다.

The HALEU fuel used in our TRISO-X pebble fuel is enriched to 15.5% … TRISO-X fuel will be produced at our fuel fabrication facility in Oak Ridge, Tennessee.

these three customers provide us with a more than 11 gigawatts electric ("GWe"), 144 reactor pipeline across the U.S. and the U.K.

차세대 마이크로 원자로를 개발하며, 가장 힘을 쏟는 제품은 KRONOS다.

We are developing the next generation of advanced nuclear microreactors, with our principal focus centered on our KRONOS MMR™ Energy System

KRONOS를 가장 먼저 2030년대 초에 상용화하는 것이 목표다.

we are aiming to commercially launch the KRONOS MMR™ Energy System first in the early 2030s

2026년 초 NRC에 건설허가를 신청하고 2027년 허가를 받을 것으로 예상했다.

We anticipate submitting our construction permit application to the NRC in early 2026, and receiving the construction permit in 2027.

설립 뒤 매출을 낸 적이 없고 가까운 시일 안에 의미 있는 매출도 기대하지 않는다고 적었다.

We have incurred losses and have not generated any revenue since our inception. … expect that we will not generate meaningful revenue for the foreseeable future

IMSR 발전소 한 곳은 열 822MW를 내고, 이를 전기로 바꾸면 390MW다.

Our IMSR Plant is sized to supply 822MW (net) thermal, which can be used to generate 390MW (net) of electricity if desired.

발전소를 직접 짓고 운영하는 방식을 일부러 피하고, 발전 사업자에게 공급하는 쪽을 택했다.

We intentionally avoid a build-own-operate model for nuclear plants, preferring to leverage scale in our nuclear supply chain to support faster deployment of IMSR Plants to the owners/operators of nuclear plants

HALEU가 아니라 5% 미만으로 농축한 일반 저농축 우라늄을 써서 연료를 구하기 쉽다고 본다.

Our IMSR Plant will use low enriched uranium enriched to <5% U235, which we refer to as standard-assay low enriched uranium ("SALEU").

텍사스 A&M 대학 RELLIS 캠퍼스에 상업용 IMSR 발전소를 짓고 운영하는 사업을 추진한다.

Our Texas A&M project is a collaboration with Texas A&M University, a leading nuclear engineering and technology university in the U.S., to construct and operate a commercial IMSR Plant at its RELLIS campus in Bryan, Texas

원자력 부문은 비등수형 원자로 설계·연료·서비스를 하고, 히타치와의 합작으로 SMR을 설계·개발한다.

Nuclear Power - provides nuclear technology solutions for boiling water reactors including reactor design, reactor fuel and support services, and the design and development of small modular reactors through joint ventures with Hitachi, Ltd.

SMR 배치 계약을 고객과 맺었고, 북미에서 이런 상업 계약은 처음이라고 적었다.

In Nuclear Power, we have an agreement with a customer for the deployment of small modular nuclear reactor (SMR) technology, making it the first commercial contract of its kind in North America.

원자력 부문이 실제로 SMR을 짓고 있어 공사 관련 위험이 더 크다고 적었다.

These risks are heightened in our Nuclear Power business, which is constructing small modular reactors.

매출 대부분은 원전을 운영하는 전력회사에 저농축 우라늄을 파는 LEU 부문에서 나온다.

Our LEU segment provides most of the Company's revenue and involves the sale of LEU, the fissile component of nuclear fuel, primarily to utilities that operate commercial nuclear power plants.

미국 안에서 HALEU 생산을 열어 HALEU를 쓰는 새 원자로의 배치를 돕는다고 적었다.

Centrus is pioneering U.S. production of HALEU, enabling the deployment of a new generation of HALEU-fueled reactors

에너지부 계약 2단계 목표인 HALEU 900kg을 생산해 납품했다.

Under Phase 2, Centrus produced and contractually delivered the Phase 2 production target of 900 kilograms of HALEU UF 6 to DOE

수십억 달러 규모의 농축 설비 증설로 23억 달러의 조건부 LEU 판매 수주에 대응할 계획이다.

Centrus plans to leverage its multi-billion-dollar uranium enrichment expansion to meet its growing backlog of $2.3 billion in contingent LEU sales

The Company's backlog across both segments was $3.8 billion and $3.7 billion as of December 31, 2025 and 2024, respectively, and extends to 2040. … The backlog is recognized as revenue in future periods as work is performed or deliveries of SWU and uranium are made.

미국 정부를 위한 해군 원자력 부품, 원자로, 핵연료의 설계·제조가 핵심 사업이다.

Our core businesses focus on the design, engineering and manufacture of precision naval nuclear components, nuclear reactors and nuclear fuel for the U

상업 부문은 원전 증기발생기, 열교환기, 압력용기, 원자로 부품을 설계·제작한다.

Through this segment, we design and manufacture commercial nuclear steam generators, heat exchangers, pressure vessels, reactor components and other auxiliary equipment

첨단 원자로를 설계하고, 정부용 핵심 원자력 부품과 연료를 만든다.

In addition, we design advanced reactors and are a leading manufacturer of critical nuclear components, fuels and assemblies for government and limited other uses.

At December 31, 2025, our ending backlog was $7,260.7 million, which included $2,151.3 million of unfunded backlog

신규 원전에 원자로 냉각재 펌프와 제어봉 구동장치를 공급하며, 대표 고객 설계는 웨스팅하우스 AP1000이다.

In the new build market, we provide Reactor Coolant Pumps ("RCP"s) and control rod drive mechanisms for commercial nuclear power plants, most notably to support the Generation III+ Westinghouse AP1000 reactor design.

주요 SMR 설계들을 대상으로 적극적으로 사업을 따내려 하고 있다고 적었다.

We are also actively engaged and pursuing business on the leading advanced Small Modular Reactor ("SMR") designs which are anticipated to serve numerous purposes, ranging from generating electricity or creating process heat for industrial applications, to powering data centers.

신규 원전 성장은 AP1000 주문이 이끌 것으로 보며, 중동부 유럽 20~25기와 미국 10기 이상을 잠재 수요로 꼽았다.

Curtiss-Wright's growth in the new build market will be driven by new AP1000 orders, with the potential for 20 to 25 reactors to be built in Central and Eastern Europe, along with at least 10 reactors proposed to be built in the United States.

SMR 개발이 늦어지면 실적과 전망에 나쁜 영향을 줄 수 있다고 적었다.

Any significant disruption in the commercial nuclear power industry, including delays in the development of small modular reactors, could adversely affect our results of operations or future outlook.

Backlog as of December 31, 2025 was approximately $4.1 billion.

전력 시장에서 소형·대형 원자로 기술을 쓰는 발전소의 모든 서비스를 제공할 수 있다고 적었다.

In the power market, we can provide a full range of services utilizing small modular and conventional nuclear reactor technologies, as well as solutions utilizing thermal power sources.

2025년에 뉴스케일 주식 1,500만 주를 6억 500만 달러에 팔았고, 2026년 2월 13일 7,100만 주를 13억 5천만 달러에 팔았다.

In 2025, we sold 15 million of our NuScale shares for net proceeds of $605 million. … Through our bank's execution, we completed the sale of all 71 million shares of NuScale on February 13, 2026, generating total proceeds of $1.35 billion.

남은 4,000만 주도 같은 방식으로 팔아 2026년 2분기까지 뉴스케일 지분을 모두 정리할 계획이다.

We expect to monetize the remaining 40 million shares of NuScale via similar structured programs and expect that all remaining ownership in NuScale should be sold by the second quarter of 2026.

we completed the sale of all 71 million shares of NuScale on February 13, 2026, generating total proceeds of $1.35 billion.