NuScale welcomes Diana Walters and announces $227 million for SMR projects

NuScale Power, specializing in advanced modular nuclear reactors (Small Modular Reactor, SMR), recently announced two major developments. Diana J. Walters, a recognized expert in natural resources and financial markets, joins its board of directors. Additionally, the company completed a warrant buyback, raising $227.7 million to fund its projects.

A strategic appointment for governance

Diana J. Walters, whose appointment took effect on December 20, 2024, brings over three decades of experience in finance and natural resources management. Formerly the president of Liberty Metals and Mining LLC and CFO of Tatham Offshore, Inc., she also holds leadership positions in several companies, including Atmos Energy and Trilogy Metals Inc. This appointment strengthens NuScale’s governance, which now has ten board members, including six independents.

A capital raise for ambitious projects

The warrant buyback, completed on December 19, 2024, enabled NuScale to raise $227.7 million through the exercise of 97% of the rights by their holders. These funds will support the accelerated deployment of SMR technologies, already approved by the Nuclear Regulatory Commission (NRC).

This initiative reflects the growing interest in modular nuclear solutions, designed to provide flexible, low-carbon energy production.

Outlook for the SMR market

With leaders like NuScale at the forefront, SMRs are gaining increasing attention from political and economic decision-makers. Recent investments and strategic appointments highlight an enhanced focus on this emerging market, which could play a key role in the global energy transition.