Federal court clears path for NuScale sale


A federal court in Connecticut rejected a third-party’s request to delay a $30 million rescue investment for Corvallis-based NuScale Power.

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A federal court in Connecticut rejected a third-party’s request to delay a $30 million rescue investment for Corvallis-based NuScale Power.

Federal authorities…cut off NuScale’s access to capital, prompting it to lay off most of its 100 employees. It brought most of them back after arranging bridge funding through a large Texas engineering firm called Fluor Corp., and NuScale now employs about 75.

Fluor then committed $30 million to resuscitate NuScale and continue developing its highly regarded nuclear reactor technology.

But two people filed with the Connecticut courts to block the investment, arguing that other firms should be given the opportunity to bid.

Read more at OregonLive.com.

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