Spring Valley Acquisition Corp. (SV) has seen an increase of 1.6% in premarket. However, the last trading session concluded at $9.99 with an increase of 0.4%.
Merger with Spring Valley Acquisition Corp. – Worth it?
On 14th December 2021, SV announced that they have signed a formal business combination agreement to form a first-of-its-kind energy firm capable of producing safe, scalable, and dependable carbon-free nuclear power to fuel the global energy transformation. The NuScale Power Module (NPM), NuScale’s patented and novel advanced nuclear power system, is the only feasible, near-term deployable SMR technology. Moreover, the NPM is safe, stable, and scalable, capable of generating 77 megawatts of electric (MWe) energy. NuScale’s VOYGRTM power plant design can support combinations of four, six, and twelve modules, providing up to 924 megawatts per day of electricity.
Furthermore, NuScale’s NPM may be used as a stable, carbon-free power supply to supplement renewable energy sources including wind, solar, and hydropower. No matter what time of day, weather, or season it is, the NPM can offer steady baseload power with available load-following. Because of its distinctive design and safety characteristics, it can be readily incorporated into electric grids or employed in a range of industrial applications, including water desalination, commercial-scale hydrogen generation, and carbon-capture technologies.
NuScale is developing the next generation of nuclear power technology, which will be safer, more adaptable, more cost-effective than before. The company’s ambition is only matched by the world’s massive decarbonization demands, and now is the appropriate moment to ramp up and extend our efforts to offer our ground-breaking SMR technology to additional clients across the world.
In addition, SV will be a valuable strategic partner for NuScale as the company moves into the next phase of the expansion, with leadership that has extensive experience in sustainable energy and a track record of running and investing in the energy sector, including nuclear power.
Business Agreement with AeroFarms Terminated
On 14th October 2021, SV announced that both the companies have mutually agreed to terminate the business agreement. As a consequence of the mutual decision to abandon the Business Combination Agreement, no one will be compelled to pay the termination fee. Spring Valley aims to pursue the completion of an initial business combination before May 27, 2022.