8-K: NuScale Power Appoints Shahram Ghasemian as Chief Legal Officer and Corporate Secretary

NuScale Power Corporation announced the appointment of Shahram Ghasemian, an experienced legal executive with a background in the energy industry and government, as its new Chief Legal Officer and Corporate Secretary, effective June 30, 2025.

Summary

• NuScale Power Corporation appointed Shahram Ghasemian as Chief Legal Officer and Corporate Secretary, effective June 30, 2025.
• Ghasemian brings extensive experience from the energy industry and government, including roles at Centrus Energy Corp., the U.S. Department of Energy (DOE), and the U.S. Nuclear Regulatory Commission (NRC).
• He previously served as Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary at Centrus Energy Corp.
• Ghasemian held leadership positions within the federal government from 2006 to 2020, including a Senior Legislative Fellow role on nuclear policy issues on Capitol Hill.
• His career in the nuclear energy sector began in 1997 with Centrus predecessor, handling litigation, employment, compliance, and complex nuclear fuel sales.
• NuScale Power is an industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology.
• The company's NuScale Power Module is the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, capable of generating 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), scalable up to 924 MWe (12 modules).

Sentiment

Score: 8

Explanation: The appointment of a highly experienced and relevant legal executive is a positive strategic move, strengthening the company's leadership and regulatory navigation capabilities, which is crucial for a nuclear technology company.

Positives

• The appointment of Shahram Ghasemian, with his extensive legal, regulatory, compliance, and governance expertise within the nuclear sector and federal government, is expected to be a tremendous asset to NuScale Power.
• Ghasemian's background, including experience with the U.S. Nuclear Regulatory Commission, aligns well with NuScale's mission to deploy NRC-approved SMR designs.
• The addition of a seasoned legal executive strengthens the company's leadership team as it moves closer to SMR deployment and pursues its strategic goals.

Risks

• The company's liquidity and ability to raise capital.
• Failure to receive new contract awards.
• Cost overruns, project delays, or other problems arising from project execution activities, including failure to meet cost and schedule estimates.
• Expectations regarding obtaining regulatory approvals, and the timing thereof, to deploy SMRs in the United States and abroad.
• Forecasts regarding end-user adoption rates and demand for products in new and rapidly evolving markets.
• Limitations on the effectiveness of controls and procedures and remediation plans related thereto.
• Intense competition in the industries in which the company operates.
• Failure of partners to perform their obligations.
• Cyber-security breaches.
• Foreign economic and political uncertainties.
• Client cancellations of, or scope adjustments to, existing contracts.
• Failure to maintain safe worksites and international security risks.
• Risks or uncertainties associated with events outside of the company's control, including weather conditions, pandemics, public health crises, political crises, or other catastrophic events.
• Macroeconomic conditions.
• The use of estimates and assumptions in preparing financial statements.
• Client delays or defaults in making payments.
• The failure of suppliers, subcontractors, and other third parties to adequately perform services under contracts.
• Uncertainties, restrictions, and regulations impacting government contracts.
• The inability to hire and retain qualified personnel.
• The potential impact of certain tax matters.
• Possible information technology interruptions.
• The company's ability to secure appropriate insurance.
• Liabilities associated with the performance of nuclear services.
• Foreign currency risks.
• The loss of one or a few clients that account for a significant portion of the company's revenues.
• Damage to the company's reputation.
• Failure to adequately protect intellectual property rights.
• Asset impairments.
• Climate change and related environmental issues.
• Increasing scrutiny with respect to sustainability practices.
• The availability of credit and restrictions imposed by credit facilities for clients, suppliers, subcontractors, or other partners.
• Failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings, or claims, including claims for additional costs.
• Failure by the company or its employees, agents, or partners to comply with laws.
• New or changing legal requirements, including those relating to environmental, health, and safety matters.
• Failure to successfully implement strategic and operational initiatives.
• Restrictions on possible transactions imposed by charter documents and Delaware law.

Future Outlook

NuScale Power is moving ever closer to the deployment of its NRC-approved SMR designs, aiming to improve collective quality of life and promote a sustainable future by delivering safe, clean, and reliable energy solutions.

Management Comments

• John Hopkins, NuScale President and Chief Executive Officer: "I am thrilled to welcome Shahram to NuScale Power. His broad expertise in legal, regulatory, compliance, and governance matters within the nuclear sector and the federal government will be a tremendous asset, as we pursue our mission to deliver safe, reliable, and clean energy solutions."
• Shahram Ghasemian: "Joining NuScale Power during this pivotal moment for the energy industry is an honor. With NRC-approved designs, NuScale is moving ever closer to deployment. The company’s dedication to innovation and its leadership in providing safe, clean, and reliable energy solutions presents a remarkable opportunity to improve our collective quality of life and promote a sustainable future. I am eager to work alongside the talented team at NuScale to drive this important initiative forward."

Industry Context

This appointment reinforces NuScale Power's commitment to navigating the complex regulatory and legal landscape of the nuclear energy sector. As a leader in advanced small modular reactor (SMR) technology with NRC-certified designs, NuScale is positioned at the forefront of the global energy transition. The addition of an executive with deep experience in both the energy industry and government, particularly with the U.S. Nuclear Regulatory Commission, is strategic for a company focused on the deployment of innovative nuclear solutions.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: The appointment of a highly qualified legal and governance expert is likely to instill confidence in the company's ability to navigate regulatory complexities and manage risks, potentially contributing to long-term value.
• Employees: The addition of a new Chief Legal Officer and Corporate Secretary provides leadership in legal and compliance matters, potentially enhancing internal processes and stability.
• Customers: A strengthened legal and regulatory team can support the efficient and compliant deployment of NuScale's SMR technology, benefiting future customers seeking reliable energy solutions.
• Regulatory Authorities: The appointment of an individual with prior experience at the U.S. Nuclear Regulatory Commission may facilitate smoother interactions and compliance with regulatory bodies.

Next Steps

• NuScale Power will continue to pursue its mission to deliver safe, reliable, and clean energy solutions.
• The company will continue efforts towards the deployment of its NRC-approved SMR designs.
• Shahram Ghasemian will work with the NuScale team to drive the company's initiatives forward.

Key Dates

Keywords

NuScale Power, SMR, Small Modular Reactor, Nuclear Technology, Chief Legal Officer, Corporate Secretary, Shahram Ghasemian, SEC Filing, 8-K, Corporate Governance, Energy Industry, Nuclear Regulatory Commission, Executive Appointment