8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________

FORM 8-K

__________________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 20, 2022

NuScale Power Corporation

(Exact name of registrant as specified in its charter)

	Delaware		001-39736		98-1588588
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)
(Address of principal executive offices)				(Zip Code)

6650 SW Redwood Lane, Suite 210

Portland, OR 97224

(971) 371-1592

(Registrant’s telephone number, including area code)

Spring Valley Acquisition Corp

2100 McKinney Avenue, Suite 1675

Dallas, TX 75201

(214) 308-5230

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, $0.0001 par value per share	SMR	New York Stock Exchange
Warrants to purchase Class A common stock	SMR WS	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

115106864.8 0034163-00071

Item 7.01. Regulation FD Disclosure.

NuScale Power Corporation issued a press release on June 20, 2022. The press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1*	Press Release issued by NuScale Power Corporation on June 20, 2022
104	Cover Page Interactive Data File (formatted as Inline XBRL)

*    Filed herewith.

115106864.8 0034163-00071

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NuScale Power Corporation
Date: June 20, 2022	By:	/s/ Chris Colbert
	Name:	Chris Colbert
	Title:	Chief Financial Officer

115106864.8 0034163-00071

EX-99.1

NuScale Announces Strategic Shift to Product Services and Delivery Organization as Company Approaches Commercialization June 20, 2022 PORTLAND, Ore.- NuScale Power LLC (“NuScale”) announced today that the company will make a strategic shift from product development to product delivery by establishing the new VOYGR™ Services and Delivery (VSD) business unit. Comprised of services, supply chain, and client management functions, this new organization will be dedicated to working with customers and tasked with the delivery of services and equipment associated with the sale, development, delivery, and commercial operation of NuScale VOYGR™ power plants. After receiving the first ever small modular reactor design (SMR) approval from the U.S. Nuclear Regulatory Commission (NRC) in August 2020 August 2020, NuScale has been focused on completion of its deployment readiness program, including finalization of the standard plant design and supply chain readiness like extensive manufacturing trials. In May 2022, NuScale became the first publicly traded company focused on the design and deployment of SMR technology; this growth, in combination with this announced strategic shift, will bolster and accelerate the commercialization of NuScale’s SMR technology. Additionally, the customer-centric restructuring is a critical step to prepare the organization to scale and meet the rapidly growing global demand for NuScale’s premier clean energy solution. For NuScale’s current customer, Utah Associated Municipal Power Systems’ Carbon Free Power Project, current project activities include the placement of long-lead equipment orders. Other landmark customer engagements in Poland and Romania underscore the need for a proactive restructuring to ensure the efficient and effective delivery of NuScale’s contractual obligations for customer projects. “Positioning NuScale towards product delivery is a natural and exciting next step for the company,” said NuScale President and Chief Executive Officer John Hopkins. “We are dedicated to changing the power that changes the world. Working closely with our customers to deploy our groundbreaking SMR technology that is setting a new standard for clean, reliable, and safe power is a critical part of that mission.” The organization will be led by Thomas Mundy, who will transition from his role as NuScale’s Chief Commercial Officer (CCO) to President, VOYGR™ Services and Delivery, reporting to Hopkins, and will have full Profit and Loss (P&L) accountability for the new business unit. Mundy has served as NuScale’s CCO since 2017, and in this role, he oversaw critical commercial global business activities, including marketing, communications, business development and sales, and services functions for the United States and abroad. “As more utilities, institutions, and countries see NuScale’s VOYGR™ plants as the premier energy solution to address the challenge of mitigating climate change while protecting global prosperity, NuScale is ready to meet the moment.” said Thomas Mundy, President, VOYGR™ Services and Delivery. “That is why now is the pivotal time

for NuScale to undergo this tactical expansion to prepare our organization to scale and ultimately to improve the energy futures for all.” In February 2022, the company expanded its leadership team to include Clayton Scott, who joined NuScale as Executive Vice President of Business Development in support of NuScale’s transition to a product and service delivery organization and was reporting to Mundy. Scott will continue to lead the sales and marketing and communications teams, and report directly to Hopkins. About NuScale Power NuScale Power Corporation (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs. Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram. Forward Looking Statements This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Media Contact Diane Hughes, Vice President, Marketing & Communications, NuScale Power dhughes@nuscalepower.com (C) (503) 270-9329

XML

Cover	Jun. 20, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jun. 20, 2022
Entity Registrant Name	NuScale Power Corporation
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39736
Entity Tax Identification Number	98-1588588
Entity Address, Address Line One	6650 SW Redwood Lane
Entity Address, Address Line Two	Suite 210
Entity Address, City or Town	Portland
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97224
City Area Code	971
Local Phone Number	371-1592
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001822966
Amendment Flag	false
Warrant
Cover [Abstract]
Title of 12(b) Security	Warrants to purchase Class A common stock
Trading Symbol	SMR WS
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Class A common stock
Trading Symbol	SMR WS
Security Exchange Name	NYSE
Common Class A
Cover [Abstract]
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	SMR
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	SMR
Security Exchange Name	NYSE