SMR
NuScale Power Corporation
Is SMR Halal?
Small modular reactor (SMR) technology for clean nuclear power — a permissible energy business with a largely equity-funded balance sheet.
What You Should Know
NuScale Power Corporation designs and markets small modular nuclear reactors (SMRs) and related power-plant technology, licensing its design and supplying equipment for clean baseload electricity generation. Developing and selling nuclear power technology is a permissible activity with no haram revenue line. NuScale is still pre-commercial and funds itself primarily through equity, carrying little interest-bearing debt and holding a meaningful cash position, so it passes the debt screen. The caveats are the usual ones for an early-stage clean-energy company: ratios are volatile, the business is not yet profitable, and interest income on cash should be checked against the 5% threshold and purified.
⚠️ Concerns
- •NuScale is pre-commercial and not yet profitable — the activity is permissible, but the financial profile is speculative and should be re-screened against the latest filings
- •Interest income earned on its cash balance should be confirmed against the 5% threshold and the corresponding portion of returns purified
- •Future project financing for reactor deployments could introduce interest-bearing debt; monitor against the 33% debt-to-market-cap threshold
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