Paragon Awarded Contract by NuScale to Develop HIPS System
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Paragon, a Mirion Technologies company and a leading supplier of safety-related products and components for the nuclear industry, has been awarded a contract by NuScale Power to complete final design development of Paragon's Highly Integrated Protection System, or HIPS, for the NuScale Power Module, or NPM. NuScale has the first and only SMR design to be approved by the U.S. Nuclear Regulatory Commission, or NRC. Nuclear plants that deploy NPMs will feature one common control room that supports up to 12 NuScale Power Modules, each capable of generating up to 77 megawatts of clean, carbon-free power. Under the contract, Paragon will complete the non-recurring engineering and design deliverables for three critical instrumentation and control systems built on the HIPS platform. The Module Protection System is a nuclear safety-related reactor protection system that safeguards each individual NPM. The Safety Data Interface System is an augmented quality, post-accident monitoring system that provides operators with essential plant data in the event of an incident. The Plant Protection System is a non-safety-related system responsible for control room habitability functions such as HVAC. The contract also includes Independent Verification and Validation services for MPS development, an important step in qualifying safety-critical software for nuclear applications.
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Analyst Views on SMR
Wall Street analysts forecast SMR stock price to rise
13 Analyst Rating
5 Buy
6 Hold
2 Sell
Hold
Current: 10.340
Low
18.50
Averages
32.77
High
60.00
Current: 10.340
Low
18.50
Averages
32.77
High
60.00
About SMR
NuScale Power Corporation is a provider of proprietary advanced small modular reactor (SMR) nuclear technology. The NuScale Power Module, the Company's SMR technology, is a small pressurized water reactor that can generate approximately 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross) and can be scaled to meet customer needs through an array of flexible configurations of up to 924 MWe (12 modules) of output. In addition to the sale of NPMs, it offers a diversified suite of services throughout the development and operating life of the power plant. The Company's suite of services is planned to include licensing support, testing, training, fuel supply services and program management, among others. It serves a range of customers consisting of domestic and international governments, utilities, state-owned enterprises and technology and industrial companies in need of carbon-free, reliable energy.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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