NuScale Power (SMR) 10-K 15 Mar 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 13, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-04321
Entity Registrant Name	NuScale Power Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1588588
Entity Address, Address Line One	6650 SW Redwood Ln Suite 210
Entity Address, City or Town	Portland
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97224
City Area Code	971
Local Phone Number	371-1592
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 419
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's proxy statement for its 2023 annual meeting of stockholders are incorporated by reference in Part III of this Form 10-K.
Entity Central Index Key	0001822966
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A
Entity Information [Line Items]
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	SMR
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		69,900,572
Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Entity Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Trading Symbol	SMR.WS
Security Exchange Name	NYSE
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		157,090,820

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Portland, Oregon
Auditor Firm ID	42

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 217,685,000	$ 77,094,000
Short-term investments	50,000,000	0
Prepaid expenses	5,531,000	4,147,000
Accounts and other receivables	11,199,000	4,833,000
Total current assets	284,415,000	86,074,000
Property, plant and equipment, net	4,770,000	4,960,000
In-process research and development	16,900,000	16,900,000
Intangible assets, net	1,059,000	1,236,000
Goodwill	8,255,000	8,255,000
Restricted cash	26,532,000	0
Other assets	6,704,000	3,772,000
Total assets	348,635,000	121,197,000
Current liabilities
Accounts payable and accrued expenses	27,951,000	22,375,000
Accrued compensation	9,038,000	10,552,000
Convertible note payable	0	14,041,000
Other accrued liabilities	1,568,000	1,440,000
Total current liabilities	38,557,000	48,408,000
Warrant liabilities	29,349,000	0
Noncurrent liabilities	2,786,000	2,976,000
Deferred revenue	856,000	1,415,000
Total liabilities	71,548,000	52,799,000
Mezzanine equity	0	2,140,000
Stockholders’ Equity
Convertible preferred units	0	819,694,000
Common units	0	28,184,000
Additional paid-in capital	296,748,000	0
Accumulated deficit	(182,092,000)	(781,620,000)
Total Stockholders' Equity Excluding Noncontrolling Interests	114,679,000	66,258,000
Noncontrolling interests	162,408,000	0
Total Stockholders' Equity	277,087,000	66,258,000
Total Liabilities, Mezzanine Equity and Stockholders' Equity	348,635,000	121,197,000
Class A
Stockholders’ Equity
Common stock, value, issued	$ 7,000	$ 0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	332,000,000	332,000,000
Common stock, shares issued (shares)	69,353,019	69,353,019
Total Shares (shares)	69,353,019	69,353,019
Class B
Stockholders’ Equity
Common stock, value, issued	$ 16,000	$ 0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	179,000,000	179,000,000
Common stock, shares issued (shares)	157,090,820	157,090,820
Total Shares (shares)	157,090,820

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2022	May 03, 2022	Dec. 31, 2021
Common stock, shares outstanding (shares)		236,754,948
Class A
Common stock, par value (usd per share)	$ 0.0001		$ 0.0001
Common stock, shares authorized (shares)	332,000,000		332,000,000
Common stock, shares issued (shares)	69,353,019		69,353,019
Common stock, shares outstanding (shares)	69,353,019		69,353,019
Class B
Common stock, par value (usd per share)	$ 0.0001		$ 0.0001
Common stock, shares authorized (shares)	179,000,000		179,000,000
Common stock, shares issued (shares)	157,090,820		157,090,820
Common stock, shares outstanding (shares)	157,090,820

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 11,804	$ 2,862	$ 600
Cost of sales	(7,317)	(1,770)	(355)
Gross margin	4,487	1,092	245
Research and development expenses	123,416	93,136	95,267
General and administrative expenses	63,057	45,226	37,176
Other expenses	48,009	37,030	26,645
Loss from operations	(229,995)	(174,300)	(158,843)
Department of Energy cost share	72,336	73,522	71,109
Decrease (increase) in fair value of warrant liabilities	12,148	0	0
Interest income and other cost share (interest expense)	3,938	(1,715)	(653)
Loss before income taxes	(141,573)	(102,493)	(88,387)
Provision (benefit) for income taxes	0	0	0
Net loss	(141,573)	(102,493)	(88,387)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	(31,155)	0	0
Net loss attributable to noncontrolling interests	(84,504)	0	0
Net loss	$ (25,914)	$ (102,493)	$ (88,387)
Loss Per Share of Class A Common Stock:
Basic (usd per share)	$ (0.51)	$ 0	$ 0
Diluted (usd per share)	$ (0.51)	$ 0	$ 0
Weighted-Average Shares of Class A Common Stock Outstanding:
Basic (shares)	50,763,844	0	0
Diluted (shares)	50,763,844	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING CASH FLOW
Net loss	$ (141,573)	$ (102,493)	$ (88,387)
Adjustments to reconcile net loss to operating cash flow:
Depreciation	2,521	2,018	1,900
Amortization of intangibles	177	177	178
Equity-based compensation expense	9,331	6,441	3,718
Accrued interest on convertible note payable	0	127	701
Change in fair value of warrant liabilities	(12,148)	0	0
Net noncash change in right of use assets and lease liabilities	2,385	1,501	1,486
Changes in assets and liabilities:
Prepaid expenses and other assets	(2,243)	(1,540)	(462)
Accounts receivable	(6,366)	(2,043)	18,042
Accounts payable and accrued expenses	2,987	5,886	6,493
Lease liability	(1,504)	(1,650)	(1,594)
Deferred DOE cost share	(104)	(13,254)	13,358
Deferred revenue	(559)	1,148	224
Accrued compensation	(1,513)	4,520	(2,892)
Net cash used in operating activities	(148,609)	(99,162)	(47,235)
INVESTING CASH FLOW
Purchase of short-term investments	(50,000)	0	0
Purchases of property, plant and equipment	(2,332)	(1,952)	(3,526)
Net cash used in investing activities	(52,332)	(1,952)	(3,526)
FINANCING CASH FLOW
Proceeds from Transaction, net	341,462	0	0
Payments of Transaction costs	(2,401)	0	0
Proceeds from debt issuance	0	0	23,000
Repayment of debt	0	(20,000)	(3,000)
Proceeds from short-term borrowings	0	27,200	0
Repayment of short-term borrowings	0	(27,200)	0
Proceeds from sale of convertible preferred units	0	192,500	18,500
Proceeds from exercise of common unit options	847	748	43
Repurchase of common units	(566)	(17)	(49)
Issuance of treasury units	20	113	0
Proceeds from exercise of warrants and common share options	28,702	0	0
Net cash provided by financing activities	368,064	173,344	38,494
Net increase (decrease) in cash, cash equivalents and restricted cash	167,123	72,230	(12,267)
Cash, cash equivalents and restricted cash:
Beginning of period	77,094	4,864	17,131
End of period	244,217	77,094	4,864
Summary of noncash investing and financing activities:
Assumption of Transaction warrant liabilities	47,532	0	0
Debt converted to equity	14,181	0	0
Conversion of equity options to liability award	50	0	0
Conversion of accounts payable to convertible preferred units	0	65	378
Warrants converted into equity	6,268	0	0
Equity issuance fees	0	1,960	1,960
Capital expenditures in accounts payable	0	0	290
Increase in lease liability	0	0	846
Supplemental disclosures of cash flow information:
Cash paid for interest	$ 0	$ 1,478	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Class A	Class B	Convertible Preferred Units	Common Units	Common Stock Class A	Common Stock Class B	Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interests
Beginning balance (shares) at Dec. 31, 2019	6,000,000
Beginning balance at Dec. 31, 2019	$ 2,140
Ending balance (shares) at Dec. 31, 2020	6,000,000
Ending balance at Dec. 31, 2020	$ 2,140
Beginning balance (shares) at Dec. 31, 2019				532,888,000
Beginning balance at Dec. 31, 2019				$ 610,211
Beginning balance (shares) at Dec. 31, 2019					5,442,000
Beginning balance at Dec. 31, 2019	36,658				$ 17,187				$ (590,740)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of convertible preferred units (shares)				9,635,000
Sale of convertible preferred units	18,500			$ 18,500
Issuance of convertible preferred units (shares)				206,000
Issuance of convertible preferred units	378			$ 378
Exercise of common unit options (shares)					105,000
Exercise of common unit options	43				$ 43
Repurchase of common units (shares)					(55,000)
Repurchase of common units	(49)				$ (49)
Issuance of treasury units	0
Equity-based compensation expense	3,718				$ 3,718
Net loss	(88,387)								(88,387)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	0
Ending balance (shares) at Dec. 31, 2020				542,729,000
Ending balance at Dec. 31, 2020				$ 629,089
Ending balance (shares) at Dec. 31, 2020					5,492,000
Ending balance at Dec. 31, 2020	$ (29,139)				$ 20,899				(679,127)
Ending balance (shares) at Dec. 31, 2021	6,000,000
Ending balance at Dec. 31, 2021	$ 2,140
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of convertible preferred units (shares)				90,500,000
Sale of convertible preferred units	190,540			$ 190,540
Issuance of convertible preferred units (shares)				32,000
Issuance of convertible preferred units	65			$ 65
Exercise of common unit options (shares)					3,483,000
Exercise of common unit options	748				$ 748
Repurchase of common units (shares)					(15,000)
Repurchase of common units	(17)				$ (17)
Issuance of treasury units (shares)					114,000
Issuance of treasury units	113				$ 113
Equity-based compensation expense	6,441				6,441
Net loss	(102,493)								(102,493)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	0
Ending balance (shares) at Dec. 31, 2021				633,261,000
Ending balance at Dec. 31, 2021				$ 819,694	$ 28,184
Ending balance (shares) at Dec. 31, 2021					9,074,000
Ending balance at Dec. 31, 2021	66,258				$ 28,184				(781,620)
Ending balance (shares) at Dec. 31, 2021					9,074,000
Ending balance (shares) at Dec. 31, 2021		69,353,019				0	0
Ending balance at Dec. 31, 2021	$ 66,258					$ 0	$ 0	$ 0	(781,620)	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Reverse recapitalization, net (shares)	(6,000,000)
Reverse recapitalization, net	$ (2,140)
Ending balance (shares) at Dec. 31, 2022	0
Ending balance at Dec. 31, 2022	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of convertible preferred units	0
Issuance of convertible preferred units	$ 0
Exercise of common unit options (shares)	3,197,310				3,764,000
Exercise of common unit options	$ 847				$ 847
Repurchase of common units (shares)					(358,000)
Repurchase of common units	(566)				$ (566)
Issuance of treasury units (shares)					12,000
Issuance of treasury units	20				$ 20
Conversion of equity award to liability award	(50)				(50)
Equity-based compensation expense	9,331				$ 1,359			7,972
Net loss	(25,914)
Reverse recapitalization, net (shares)				(633,261,000)	(12,492,000)	41,971,000	178,397,000
Reverse recapitalization, net	307,850			$ (819,694)	$ (29,794)	$ 4	$ 18	220,606	656,597	280,113
Exercise of common share options and warrants (shares)						4,432,000
Exercise of common share options and warrants	34,970					$ 1		34,969
Issuance of earn-out shares upon triggering event (shares)						1,644,000
Conversion of combined interest into Class A shares (shares)						21,306,000	(21,306,000)
Conversion of combined interest into Class A shares	0					$ 2	$ (2)
Rebalancing of ownership percentage for conversion of combined interest into Class A shares	0							33,201		(33,201)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	(31,155)								(31,155)
Net loss after the Transaction	(110,418)								(25,914)	(84,504)
Ending balance (shares) at Dec. 31, 2022				0
Ending balance at Dec. 31, 2022				$ 0	$ 0
Ending balance (shares) at Dec. 31, 2022					0
Ending balance (shares) at Dec. 31, 2022		69,353,019	157,090,820			69,353,000	157,091,000
Ending balance at Dec. 31, 2022	$ 277,087					$ 7	$ 16	$ 296,748	$ (182,092)	$ 162,408

The Company

The Company	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company Organization NuScale Corp (“NuScale” or the “Company”) is incorporated under the laws of the state of Delaware. The Company is the primary beneficiary of NuScale LLC, a variable interest entity, and all activity of NuScale LLC and the Company are consolidated herein. NuScale LLC is a limited liability company organized in the State of Oregon in 2011. The Company is majority owned by Fluor Enterprises, Inc., a subsidiary of Fluor. Operations The Company is commercializing a modular, scalable 77 megawatt (gross) electric Light Water Reactor nuclear power plant using exclusive rights to a nuclear power plant design obtained from Oregon State University. The Company also uses the test facility at OSU through a technology transfer agreement. The following represents key milestones in the development of this technology: • December 2016: DCA completed • January 2017: DCA submitted to the NRC • March 2017: DCA accepted for review by the NRC • August 2020: NRC issued the Final Safety Evaluation Report ("FSER") The FSER represents the NRC’s completion of its technical review and approval of the NuScale SMR design. With this final phase of NuScale’s DCA now complete, customers may proceed with plans to develop NuScale power plants with the understanding that the NRC has approved the safety aspects of the NuScale design. All the Company’s operations and long-lived assets were attributable to operations in the United States as of and for the years ended December 31, 2022, 2021 and 2020. U.S. Department of Energy Funding Beginning in 2014, the U.S. DOE has provided critical funding to NuScale through a series of cooperative agreements which support ongoing commercialization activities. The agreements which were active during 2022, 2021 and 2020 are discussed below. U.S. Department of Energy NuScale SMR FOAK Nuclear Demonstration Readiness Project Completion (Award 8928) In February 2020, the Company was awarded up to $350,000 under “SMR FOAK Nuclear Demonstration Readiness Project Completion” (“Award 8928”). This program is expected to complete all remaining licensing activities, first-of-a-kind engineering, supply chain development, testing and other required activities to have the NuScale SMR ready to enable timely client project deployment. The award consisted of NuScale cost share of $350,000 (50%) and the government cost share of $350,000 (50%). NuScale was permitted to request reimbursement of 73% of its program costs from August 2019 through September 2020. Because the government’s cost share of total program funds must be no more than 50% over the duration of the 5 years award, 23% of the reimbursement requests made for the August 2019 through September 2020 costs were deferred and recognized as a liability in the accompanying balance sheet. At December 31, 2021, $10,237 of deferred DOE cost share is netted in related DOE accounts receivable due to a right of offset. No amounts were eligible to be offset at December 31, 2022 . These deferred reimbursement costs were recognized as reimbursement requests were made at less than 50%. The DOE obligated a total of $233,000 to date, of which $225,000 was collected, through December 31, 2022. U.S. Department of Energy Carbon Free Power Project Award (Award 8369) In April 2015, the Company was awarded an Assistance Agreement, “Site Permitting and Licensing of the NuScale Small Modular Reactor”. Utah Associated Municipal Power Systems was identified as a sub-recipient under the Carbon Free Power Project (“CFPP”) award. UAMPS is considering developing, constructing and owning a 462 MWe (gross) nuclear powered energy center using NuScale’s SMR technology. The CFPP award consisted of DOE cost share of $16,617 (50%) and NuScale and UAMPS cost share of $16,617 (50%) to facilitate site permitting and related licensing activities. In January 2019 the DOE renewed the award extending the period of performance through December 2023 and increasing the total amount of the award to $126,694. The cost sharing percentages remained at DOE cost share of 50% and NuScale and UAMPS cost share of 50% of the total award. This award was later amended to consist of DOE cost share of $8,250 (50%) and NuScale and UAMPS cost share of $8,250 (50%). Cumulative cash received through December 31, 2021 was $7,451, with an additional $70 obligated and included in accounts receivable. The remaining $729 was paid by the DOE to a third party, in accordance with the Award, for services provided. The period of performance under this award ended October 31, 2021 due to UAMPS applying as prime recipient for Award 8935. NuScale has no cost share under Award 8935. Subsequently, an “Agreement for a Cost Sharing Option Associated with the Siting and Licensing of a Small Modular Reactor” and a “Subaward Agreement between the Company and UAMPS” were executed in December 2015. These agreements were subsequently amended various times. Under these amended agreements, NuScale will reimburse UAMPS 25% of the UAMPS project costs associated with the CFPP award up to a maximum of $4,100. Under the amended agreements, when UAMPS submits the combined construction and operating license application, it will pay NuScale an amount equal to the sum of all CFPP project costs reimbursed by NuScale. Upon such payment, UAMPS will assume full ownership interest in all project assets free of any claim by NuScale.

Merger Transaction

Merger Transaction	12 Months Ended
	Dec. 31, 2022
Reverse Recapitalization [Abstract]
Merger Transaction	Merger Transaction Merger with Spring Valley In December 2021, NuScale LLC entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Spring Valley Acquisition Corp. (“Spring Valley”) and Spring Valley Merger Sub, LLC (“Merger Sub”), a wholly owned subsidiary of Spring Valley. Pursuant to the Merger Agreement, Merger Sub merged with and into NuScale LLC (the “Merger”), with NuScale LLC surviving the Merger, Spring Valley being renamed NuScale Corp, and NuScale LLC continuing to be held as a wholly controlled subsidiary of NuScale Power Corporation in an “Up-C” structure. On May 2, 2022, the Merger Agreement and Merger (collectively the “Transaction”) was completed. The Transaction is shown as a reverse recapitalization under GAAP. Spring Valley is the acquired company, with NuScale LLC treated as the acquirer. This determination reflects Legacy NuScale Equityholders holding a majority of the voting power of NuScale Corp, NuScale LLC’s pre-merger operations being the majority post-merger operations of NuScale Corp and NuScale LLC’s management team retaining similar roles at NuScale Corp. Accordingly, although Spring Valley is the legal parent company, GAAP dictates that the financial statements of NuScale Corp will represent a continuation of NuScale LLC’s operations, with the Transaction being treated as though NuScale LLC issued ownership interests for Spring Valley, accompanied by a recapitalization. The net assets of NuScale LLC are stated at historical cost, with no incremental goodwill or other intangible assets recorded for the effects of the Transaction with Spring Valley. The following table provides the historical cost of the assets and liabilities assumed as a result of the Transaction: Cash $ 341,462 Warrant liabilities (47,532) Total net assets $ 293,930 In connection with the Transaction: • Each Convertible Preferred Unit of NuScale LLC was converted into common units using an exchange ratio, and each NuScale LLC common unit holder received a certain number of NuScale LLC Class B units and non-economic voting shares of NuScale Corp Class B common stock based on an exchange ratio. Holders of NuScale LLC Class B units have the right to exchange each Class B unit, together with the cancellation for no consideration of one share of NuScale Corp Class B common stock, par value $0.0001, for one share of NuScale Corp Class A common stock, par value $0.0001, or cash, subject to certain restrictions. • Institutional and accredited investors purchased 23,700,002 shares of Class A common stock for an aggregate amount of $235,000. • The convertible loan held by Fluor, identified in the December 31, 2021 balance sheet as convertible note payable, was converted into 8,257,560 NuScale LLC Class B units in April 2022 (which then received NuScale LLC Class B units and non-economic voting shares of Class B common stock). The Transaction resulted in NuScale LLC receiving cash in the amount of $341,462, consisting of $235,000 through the private sale of equity securities (“PIPE”) and $145,525 in cash in trust, partially offset by transaction costs of $39,063. The following summarizes the common stock outstanding immediately following the Transaction, on May 3, 2022: Shares % Spring Valley Class A Shareholders 14,400,369 6.5 % Spring Valley Founders (A) 3,871,009 1.8 % Total Spring Valley 18,271,378 8.3 % Legacy NuScale Equityholders 178,396,711 81.0 % PIPE Shares 23,700,002 10.8 % Total Shares at Closing (excluding shares below) 220,368,091 100.0 % Remaining NuScale Consideration Shares - upon Exercise of NuScale Corp Options 14,742,933 Other - Earn Out Shares (B) 1,643,924 Total Shares 236,754,948 (A) Includes an aggregate of 120,000 Spring Valley Class B ordinary shares that were issued to Spring Valley’s independent directors. (B) Spring Valley Founders Shares includes “Earn Out Shares”. Fifty percent of the Earn Out Shares vest, pursuant to the sponsor letter agreement, dated as of December 31, 2021, between SV Acquisition Sponsor Sub, LLC, Spring Valley and NuScale LLC, if NuScale Corp trades at $12.00 per share or higher over any 20 trading days within a 30-day window during the 60 months following the closing and the dollar volume-weighted average price (“VWAP”) is greater than or equal to $12.00 per share. The remainder of the Earn Out Shares vest if NuScale Corp trades at $14.00 per share or higher over any 20 trading days within a 30-day window during the 60 months following the closing and the VWAP is greater than or equal to $14.00 per share. The Earn Out Shares associated with the merger became vested during 2022, as the VWAP of the Company’s share price exceeded $12.00 and then $14.00 for the required time period. Warrants The Private Placement Warrants and the Public Warrants (collectively the “Warrants”) are included on the balance sheet as Warrant liabilities. We are required to measure the fair value of the Warrants at the end of each reporting period. The rights of Warrant holders are described in note 5 and the valuation methodology for the Warrants is described in note 6. Tax Receivable Agreement Substantially all of the assets of the combined company are held by NuScale LLC, and NuScale Corp’s only assets are its equity interest in NuScale LLC and prepaid assets. NuScale Corp entered into a Tax Receivable Agreement (“TRA”) with NuScale LLC, each of the TRA Holders (as defined in the TRA), and Fluor, in its capacity as TRA Representative. Pursuant to the TRA, NuScale Corp must pay 85% of the net cash tax savings from certain tax benefits, if any, that it realizes (or in certain cases is deemed to realize) as a result of any increases in tax basis and other tax benefits resulting from any exchange by the TRA holders of NuScale LLC Class B units for shares of Class A common stock or cash in the future. NuScale Corp will benefit from the remaining 15% of cash tax savings, if any, realized as a result of such tax benefits. Cash tax savings will be computed by comparing NuScale Corp’s actual income tax liability to the amount of such taxes that NuScale Corp would have been required to pay had there been no increase to the tax basis of its assets as a result of the Transaction or the exchanges and had NuScale Corp not entered into the TRA (calculated by making certain assumptions).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation As part of the Transaction, NuScale Corp has been determined to be the primary beneficiary of NuScale Power, LLC (“NuScale LLC”), a variable interest entity (“VIE”). As the sole managing member of NuScale LLC, NuScale Corp has both the power to direct the activities, and direct ownership to share in the revenues and expenses of NuScale LLC. As such, all the activity of NuScale LLC has been consolidated in the accompanying consolidated financial statements. All assets and liabilities included in the balance sheet are that of NuScale LLC, other than the Warrants and $1,566 of prepaid assets. All intercompany transactions have been eliminated upon consolidation. Changes in Presentation Prior year amounts totaling $1,498 and $1,505 have been reclassified out of G&A expenses to other expenses for the years ended December 31, 2021 and 2020, respectively, to conform to the current year presentation on the accompanying consolidated statements of operations. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. NuScale believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, depreciation, amortization, in-process research and development (“IPR&D”), asset valuations, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates. Cash, Cash Equivalents and Restricted Cash Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Cash equivalents with an initial maturity of between three and twelve months at time of purchase are presented as short-term investments on the accompanying consolidated balance sheet. Cash equivalents and short-term investments consist of certificates of deposit. These certificates of deposit are classified as held-to-maturity, and the estimated fair value of the investment approximates its amortized cost. Cash in the amount of $26,532 is restricted as collateral for the letter of credit associated with the DCRA at December 31, 2022. There were no such restrictions at December 31, 2021 and 2020. The DCRA spans multiple years requiring the amount to be classified as a noncurrent asset, included in restricted cash in the consolidated balance sheet. The restricted cash balance plus cash and cash equivalents on the consolidated balance sheet equals cash, cash equivalents and restricted cash, as reflected in the consolidated statements of cash flows. Accounts and Other Receivables Accounts and other receivables include reimbursement requests outstanding from the DOE awards, interest receivable and commercial accounts receivable associated with other federal projects. The reimbursement requests outstanding from the DOE awards are recognized as eligible costs are incurred. Reimbursement under the awards are included in Department of Energy Cost Share in the consolidated statements of operations. The majority of our receivables are either due from the U.S. federal government or have to do with a federal project. For these reasons, all receivables are deemed to be fully collectible and no allowance has been recorded. In-process Research and Development IPR&D represents incomplete research and development projects that had not reached technological feasibility as of their acquisition date in 2011. Due to the nature of IPR&D, the expected life is indefinite and it will be evaluated periodically for attainment of technological feasibility or impairment. Technological feasibility is established when an enterprise has completed all planning, designing, coding and testing activities that are necessary to establish that a product can be produced to meet its design specifications including functions, features and technical performance requirements. IPR&D was concluded to include both fundamental and defensive technologies comprised of OSU licensed and NuScale owned patented and unpatented technology and trade secrets. Such technologies are designed to work together in the operation of a nuclear power module. The IPR&D is anticipated to begin generating cash flows in 2026 and is expected to contribute to all of the Company’s revenues for the foreseeable future after being placed in service. IPR&D is amortized over its estimated useful life once technological feasibility is reached. As the Company has not yet completed all designing, coding and testing activities, management has determined that technological feasibility has not yet been reached. Management has not identified any indicators that would suggest any impairment of the IPR&D. If IPR&D is determined not to have technological feasibility or is abandoned, it will be impaired or written off at such time. Revenue Recognition In addition to advancing the commercialization of its SMR, the Company provides engineering services to customers. The Company recognizes fixed price contract revenue with multiple performance obligations as each obligation is completed. The Company allocates the transaction price to each performance obligation using an estimate of the stand-alone selling price of each distinct service in the contract. Revenue recognized on contracts that has not been billed to customers is classified as a current asset under accounts and other receivables on the consolidated balance sheet. Amounts billed to clients in excess of revenue recognized are classified as a current liability under deferred revenue. The Company recognizes time and material contract revenue as incurred, while our cost plus fixed-fee contract revenue is recognized over time, matching continuous transfer of control to the customer. The Company accounts for these contracts as a single performance obligation and recognizes revenue using the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. The percentage-of-completion method (an input method) is the most faithful depiction of the Company’s performance because it directly measures the value of the services transferred to the customer. Changes to total estimated contract cost or losses, if any, are recognized in the period in which they are determined as assessed at the contract level. Pre-contract costs are expensed as incurred unless they are expected to be recovered from the client. The Company excludes from its measurement of transaction prices all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of sales. Customer payments on contracts are typically due within 30 days of billing, depending on the contract. The Company generally provides limited warranties for work performed under its engineering contracts. The warranty periods typically extend for a limited duration following substantial completion of the Company’s work on a project. Historically, warranty claims have not resulted in material costs incurred, and for the periods presented, no warranty liability has been recorded. Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 Quoted prices in active markets for identical instruments; Level 2 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and deposits, accounts payable, accrued expenses and convertible note payable approximates fair value due to their short maturities. Property, Plant and Equipment All additions, including betterments to existing facilities, are recorded at cost. Maintenance and repairs are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost of the assets and the related accumulated depreciation is derecognized with any gain or loss recorded in the year of disposition. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Furniture and fixtures are depreciated over useful lives of seven years. Computer software is depreciated over useful lives of three Long-Lived Assets Long-lived assets including primarily property and equipment and acquired IPR&D are reviewed for impairment annually and when events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. If this review indicates that the carrying amount will not be recoverable, as determined based on comparing the estimated undiscounted future cash flows to the carrying amount, impairment is measured by comparing the carrying amount to fair value. No impairment charges were incurred for the years ended December 31, 2022, 2021 and 2020. Goodwill Goodwill is the excess of the purchase price paid over the fair value of the net assets of a business acquired in a purchase business combination. Goodwill is not amortized but is reviewed for impairment annually or whenever events or changes in circumstances arise during the year that indicate the carrying amount of goodwill may not be recoverable. Impairment exists when the carrying amount of the reporting unit exceeds its fair value and an impairment loss is recognized. Leases The Company recognizes right-of-use assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of December 31, 2022 and 2021, the Company has only operating leases. The Company’s right-of-use assets relate to office facilities, some of which include one or more options to renew, with renewal terms that can extend the lease term up to 5 years. The exercise of the lease renewal is at the Company’s discretion. Renewal periods are included in the expected lease term if they are reasonably certain of being exercised by the Company. None of the Company’s lease agreements contain material residual value guarantees or material restrictions or covenants. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term leases relate to office facilities or office equipment. Warrant Liability The Company accounts for the Warrants in accordance with the guidance contained in Accounting Standards Codification (“ASC”) 815, “Derivatives and Hedging”, under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s consolidated statements of operations. The fair value of the Public and Private Placement Warrants has been estimated using the Public Warrants’ quoted market price. See note 5 for further discussion of the terms of the Warrants and note 6 for further discussion of the methodology used to determine the value of the Warrants. Equity-Based Compensation Our long-term incentive plan provides for grants of nonqualified or incentive stock options, restricted stock award units (“RSU”s) and performance-based award units. Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the grantee is required to provide service in exchange for the award. The determination of fair value for nonqualified or incentive stock options requires significant judgment and the use of estimates, particularly with regard to Black-Scholes assumptions such as stock price, volatility and expected option lives to value equity-based compensation, while forfeitures are recognized as incurred. The grant date fair value of RSUs is based on the closing market price of our Class A common stock on the grant date as stated on the NYSE. The option valuation model used to calculate the Company’s options uses the treasury yield curve rates for the risk-free interest rate for a period equal to the expected option life and the simplified method to calculate the expected option life (options qualified as ‘plain vanilla’ under the provisions of SAB 107). Volatility is determined by reference to the actual volatility of several publicly traded companies that are similar to NuScale in its industry sector. The Company does not anticipate paying any cash dividends in the foreseeable future and therefore uses an expected dividend yield of zero in the option valuation model. Forfeitures are recognized as they occur. All equity-based payment awards are amortized on a straight-line basis over the requisite service periods of the awards. Equity-based compensation is recorded as a general and administrative expense and other expense in the statements of operations. Segment Information The Company has determined that its Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”) are its chief operating decision makers (“CODMs”). The CODMs review financial information presented for purposes of assessing performance and making decisions on how to allocate resources at the overall company level. The Company has determined that it currently operates as a single segment, though it will periodically revisit the information used by its CODMs to allocate resources and to manage the operations as it nears commercialization and deployment of its NPMs. Research and Development R&D expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred. Advertising Advertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations. Advertising costs expensed were approximately $7,340, $2,600 and $1,057 for the years ended December 31, 2022, 2021 and 2020, respectively. Income Taxes NuScale Corp accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that the deferred tax assets will be realized. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the year of the enacted rate change. The Company accounts for uncertainty in income taxes using a recognition and measurement threshold for tax positions taken or expected to be taken in a tax return, which are subject to examination by federal and state taxing authorities. The tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination by taxing authorities based on technical merits of the position. The amount of the tax benefit recognized is the largest amount of the benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The effective tax rate and the tax basis of assets and liabilities reflect management’s estimates of the ultimate outcome of various tax uncertainties. Once identified, the Company will recognize penalties and interest related to uncertain tax positions within the provision (benefit) for income taxes line in the accompanying consolidated statements of operations. NuScale LLC is a limited liability company treated as a partnership for U.S. federal income tax purposes that is not subject to U.S. federal income tax. As such, its net taxable income or loss and any related tax credits are allocated to its members. Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates issued by the Financial Accounting Standards Board (“FASB”). There are no accounting pronouncements which have been issued but are not yet effective that would have a material impact on our current financial statements.

Equity and Loss Per Share

Equity and Loss Per Share	12 Months Ended
	Dec. 31, 2022
Noncontrolling Interest And Earnings Per Share [Abstract]
Equity and Loss Per Share	Equity and Loss Per Share Noncontrolling Interests Following the Transaction, holders of Class A common stock own direct controlling interest in the results of the combined entity, while the Legacy NuScale Equityholders own an economic interest in NuScale LLC, shown as noncontrolling interests (“NCI”) in equity in NuScale Corp’s consolidated financial statements. The indirect economic interests are held by Legacy NuScale Equityholders in the form of NuScale LLC Class B units. The following table summarizes the economic interests of NuScale Corp between the holders of Class A common stock and indirect economic interests held by NuScale LLC Class B unitholders as of and for the period from May 2, 2022 through December 31, 2022: As of and for the period from May 2, 2022 through December 31, 2022 NuScale Corp Class A common stock Beginning of period 41,971,380 Conversion of combined interests into Class A common stock 21,305,891 Exercise of options and warrants 4,431,824 Vesting of earn out shares 1,643,924 End of period 69,353,019 NuScale LLC Class B units (NCI) Beginning of period 178,396,711 Conversion of combined interests into Class A common stock (21,305,891) End of period 157,090,820 Total Beginning of period 220,368,091 Conversion of combined interests into Class A common stock — Exercise of options and warrants 4,431,824 Vesting of earn out shares 1,643,924 End of period 226,443,839 Ownership Percentage NuScale Corp Class A common stock Beginning of period 19.0 % End of period 30.6 % NuScale LLC Class B units (NCI) Beginning of period 81.0 % End of period 69.4 % The NCI may decrease according to the number of shares of Class B common stock and NuScale LLC Class B units that are exchanged for shares of Class A common stock or, in certain circumstances including at the election of NuScale Corp, cash in an amount equal to the fair value of Class A common stock received in a contemporaneous equity issuance. After each exchange, NuScale LLC equity attributable to NuScale Corp is rebalanced to reflect the change in ownership percentage, which is calculated above based on Class B units and Class A shares, as a percentage of combined interests. The earn out shares associated with the merger became vested during 2022, as the VWAP of the Company’s share price exceeded $12.00 and then $14.00 for the required time period. These Class A shares are now outstanding and included in our weighted-average shares calculation. Members’ Equity of NuScale LLC Prior to the Transaction, NuScale LLC issued equity consisting of common units and convertible preferred units (“CPU”s). Each common unit was entitled to one vote, while holders of CPUs had voting rights equivalent to the number of CPUs held multiplied by a common equivalent ratio, as defined, which was set at 100% at the time of the Company’s recapitalization in 2011. The CPUs had a 10.0% cumulative preferred return per year compounded quarterly on the unreturned preferred capital, beginning on the date such CPU was issued. In addition, as discussed further in note 9, NuScale LLC had mezzanine equity. As consideration for the reverse recapitalization, 178,396,711 shares of NuScale Corp’s Class B common stock were issued. Simultaneously, all NuScale LLC units and CPUs outstanding were reclassified to common stock and additional paid-in capital at carrying value, including NuScale LLC units previously presented as mezzanine equity. In addition, the accumulated preferred return was nullified upon conversion. Loss Per Share Prior to the Transaction, the membership structure of NuScale LLC included units that had profit interests. The Company analyzed the calculation of net loss per unit for periods prior to the Transaction and determined that it resulted in values that would not be meaningful to the readers of these financial statements. Therefore, net loss per unit information has not been presented for periods prior to May 2, 2022. Basic loss per share is based on the average number of shares of Class A common stock outstanding during the period. Diluted loss per share is based on the average number of shares of Class A common stock used for the basic earnings per share calculation, adjusted for the dilutive effect of RSUs, Stock Options, Warrants and Earn Out Shares, if any, using the “treasury stock” method and for all other interests that convert into potential shares of Class A common stock, if any, using the “if converted” method. Net loss attributable to Class A common stockholders for diluted loss per share is adjusted for the Company’s share of NuScale LLC’s net loss, net of NuScale Corp taxes, after giving effect to all other interests that convert into potential shares of Class A common stock, to the extent it is dilutive. In addition, net loss attributable to Class A common stockholders for diluted loss per share is adjusted for the after-tax impact of changes to the fair value of warrant liabilities, to the extent the Company’s Warrants are dilutive. The following table sets forth the computation of basic and diluted net loss per share of Class A common stock and represents the period from May 2, 2022 to December 31, 2022, the period where the Company had Class A and Class B common stock outstanding. Class B common stock represents a right to cast one vote per share at the NuScale Corp level, and carry no economic rights, including rights to dividends or distributions upon liquidation, and as a result, is not considered a participating security for basic and diluted loss per share. As such, basic and diluted loss per share of Class B common stock has not been presented. May 2, 2022 Through December 31, 2022 Net loss attributable to Class A common stockholders $ (25,914) Weighted-average shares for basic and diluted loss per share 50,763,844 Basic and Diluted loss per share of Class A common stock $ (0.51) Anti-dilutive securities excluded from shares outstanding: Class B common shares 157,090,820 Stock options 12,224,783 Warrants 18,458,703 Time-based RSUs 2,140,651 Total 189,914,957

Warrant Liabilities

Warrant Liabilities	12 Months Ended
	Dec. 31, 2022
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant Liabilities As of December 31, 2022, the Company had 9,558,703 Public Warrants and 8,900,000 Private Placement Warrants outstanding. For the period from May 2, 2022 through December 31, 2022, 1,941,297 Public Warrants were exchanged for cash of $22,325. Warrants may only be exercised for a whole number of shares at a price of $11.50. No fractional shares will be issued upon exercise of the Warrants. The Warrants are currently exercisable and will expire five years from the date of the Transaction or earlier upon redemption or liquidation. Redemption of Warrants when the price per share of Class A common stock equals or exceeds $18.00 . The Company may redeem the outstanding Warrants (except as described with respect to the Private Placement Warrants): • in whole and not in part; • at a price of $0.01 per Warrant; • upon a minimum of 30 days’ prior written notice of redemption to each Warrant holder; and • if the closing price of the Class A common stock equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the Warrant holders. If and when the Warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of Warrants when the price per share of Class A common stock equals or exceeds $10.00 . The Company may redeem the outstanding warrants: • in whole and not in part; • at $0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their Warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the fair market value of the Class A common stock; • if, and only if, the closing price of the Class A common stock equals or exceeds $10.00 per public share (as adjusted) for any 20 trading days within the 30-trading day period ending three trading days before the Company sends the notice of redemption to the Warrant holders; and • if the closing price of the Class A common stock for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the Warrant holders is less than $18.00 per share (as adjusted), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants. If the Company calls the Public Warrants for redemption, as described above, the exercise price and number of ordinary shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. Beginning on the 30th day following the Transaction, the Private Placement Warrants became almost identical to the Public Warrants sold in the Spring Valley Initial Public Offering. Additionally, the Private Placement Warrants are exercisable on a cashless basis and are non-redeemable, except as described above, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value MeasurementOur Warrants are accounted for as liabilities pursuant to ASC 815-40 and are measured at fair value as of each reporting period. Changes in fair value of the Warrants are recorded in the statement of operations each period. Due to the similarity of the features of the Public and Private Warrants, management has concluded that the price of the Public Warrants would be used in the valuation of the Private Placement Warrants. However, since the two types of Warrants are not identical and the Private Warrants are not actively traded, we have classified the Private Placement Warrants as Level 2, while the Public Warrants are classified as Level 1. The following table represents the Company’s financial liabilities measured at fair value on a recurring basis as of December 31, 2022: (in thousands) Level 1 Level 2 Level 3 Total Warrant Liabilities: Public Warrants $ 15,198 $ — $ — $ 15,198 Private Placement Warrants — 14,151 — 14,151 Total Warrant Liabilities as of December 31, 2022 $ 15,198 $ 14,151 $ — $ 29,349

Accounts and Other Receivables

Accounts and Other Receivables	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts and Other Receivables	Accounts and Other Receivables Accounts and other receivables include reimbursement requests outstanding from the DOE awards, interest receivable and commercial accounts receivable associated with other federal projects. The DOE reimbursement requests are recognized as eligible costs are incurred. At December 31, 2021, accounts receivable are presented net of $10,237 of related deferred DOE cost share liabilities that have the right of offset. As of December 31, 2022, there were no amounts required to be offset. Reimbursement under the awards is recognized as award funds are obligated, and are included in Department of Energy Cost Share in the consolidated statement of operations. Interest receivable of $1,021 was outstanding at December 31, 2022. The majority of our receivables are either due from the U.S. federal government or have to do with a federal project. For these reasons, all receivables are deemed to be fully collectible and no allowance has been recorded. Further, in January 2023, the DOE increased its funds obligation to us by $15,000.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consisted of the following at December 31: 2022 2021 Furniture and fixtures $ 173 $ 173 Office and computer equipment 7,393 5,638 Software 13,864 15,227 Test equipment 347 347 Leasehold improvements 2,312 2,689 24,089 24,074 Less: Accumulated depreciation (19,431) (20,632) Add: Assets under development 112 1,518 Net property, plant and equipment $ 4,770 $ 4,960 Depreciation of property, plant and equipment for the years ended December 31, 2022, 2021 and 2020 was $2,521, $2,018 and $1,900, respectively. Depreciation in the amount of $770 and $1,751 is included in G&A expenses and Other expense, respectively, for the 2022 fiscal year, $876 and $1,142, respectively, for the 2021 fiscal year and $1,015 and $885, respectively, for the 2020 fiscal year.

Intangible Assets and Redeemabl

Intangible Assets and Redeemable Common Units	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Redeemable Common Units	. Intangible Assets and Redeemable Common UnitsIn 2007, NuScale entered into a patent license agreement (the “Agreement”) with OSU, which granted the Company a worldwide, exclusive license under three patents. In 2015, NuScale entered into a “Purchase, Sale and License Agreement” (“PLA”) with OSU, whereby OSU sold and assigned to NuScale certain patent and intellectual property rights, including the patent intellectual property rights that OSU formerly exclusively and non-exclusively licensed to NuScale under the Agreement; and granted NuScale a license to use, reproduce, prepare derivative works of, distribute, transmit, publicly perform and publicly display the testing data. As consideration of this purchase, NuScale issued a cash payment of $1,000 upon execution of the agreement as well as on-going $25 quarterly cash payments continuing until the earlier of (i) such time as NuScale completes the sale of its first commercial-scale nuclear module (exclusive of modules designated to validate the operability of a NuScale module) to a commercial customer or (ii) expiration of the term of the last valid claim under the assigned patents to expire. Additionally, NuScale will make royalty payments to OSU on the sale of NuScale’s first and subsequent commercial-scale nuclear modules to a commercial customer as follows: • 0.25% of the then current commercial price paid to NuScale for the first twenty-four (24) NuScale modules sold to commercial customers. • 0.15% of the then current commercial price paid to NuScale for the next twelve (12) NuScale modules sold to commercial customers. Under the initial PLA, the Company granted OSU 2,750,000 NuScale LLC common units valued at a weighted average price per unit of $0.25 determined on their respective grant date. Additionally, under the updated agreement, NuScale granted OSU 3,250,000 NuScale LLC common units valued at $0.45 per unit on the grant date, resulting (in addition to the cash payment of $1,000) in a value assigned to the patents of $2,462 which is being amortized on a straight-line basis over the remaining life of the patents which is estimated to be through 2034. The gross carrying amount of the patents, and the associated accumulated amortization was $2,462 and $1,403, respectively, at December 31, 2022 and $2,462 and $1,226, respectively, at December 31, 2021. Estimated amortization expense for each of the five succeeding years is expected to be $177 per year. Accordingly, as of December 31, 2021, the 6,000,000 NuScale LLC common units subject to possible redemption are presented as mezzanine equity, outside of Member’s Equity. Upon consummation of the Transaction, these 6,000,000 NuScale LLC common units were converted into NuScale Corp Class B common stock and are now included in Stockholders’ Equity. Commencing on the effective date of the agreement and continuing until such time as NuScale completes the sale of its first commercial-scale nuclear module to a commercial customer, OSU shall have the right, but not the obligation, to sell all of its then current common share holdings in NuScale Holdings and all of its then current common stock in NuScale Corp (collectively the “NuScale Shares”) to NuScale if, but only if, the NRC issues a written determination that : (a) OSU’s ownership of the NuScale Shares creates a conflict of interest for OSU; and (b) OSU must divest the entirety of such NuScale Shares in order to continue performing work on NuScale’s behalf for certification of the NuScale reactor design. In the event OSU exercises such option, the parties shall enter into a Share Purchase and Sale Agreement, in form and substance reasonably acceptable to each party, pursuant to which OSU would agree to sell and NuScale would agree to purchase all of the NuScale Shares for a price equal to the then current market value of the NuScale Shares. Payments made to OSU for research and testing were $959, $893 and $1,104 for years ended December 31, 2022, 2021 and 2020, respectively. Amounts payable to OSU included in accounts payable and accrued expenses on the consolidated balance sheet were $150 and $186 at December 31, 2021 and 2020, while no amounts were outstanding as of December 31, 2022.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases Balance Sheet As of December 31, Lease Assets and Liabilities Classification 2022 2021 Right-of-use Assets Operating lease assets Other assets $ 3,870 $ 1,268 Total right-of-use assets 3,870 1,268 Lease Liabilities Operating lease liabilities, current Other accrued liabilities 1,568 1,190 Operating lease liabilities, noncurrent Noncurrent liabilities 2,786 211 Total lease liabilities $ 4,354 $ 1,401 Supplemental information related to the Company’s leases follows: As of December 31, 2022 2021 Right-of-use assets obtained in exchange for new operating leases $ — $ — Weighted-average remaining lease term – operating leases 2.74 years 1.05 years Weighted average discount rate-operating leases 4.92 % 3.35 % The remaining lease payments under the Company’s leases follows: Year ended December 31, Operating Leases 2023 $ 1,741 2024 1,555 2025 1,341 2026 18 Total lease payments $ 4,655 Less: interest (301) Present value of lease liabilities $ 4,354 Lease expense for the years ended December 31, 2022, 2021 and 2020 totaled $2,063, $1,695 and $1,874, respectively. Of these amounts $1,851, $1,505 and $1,578 consist of operating lease costs for the years ended December 31, 2022, 2021 and 2020 while $212, $190 and $296 account for short-term lease costs for the same time period.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Notes Payable	Notes Payable Convertible Note Payable: In September 2011, NuScale signed a convertible loan agreement with Fluor in the amount of $10,281 with a maturity date of September 30, 2013. The loan had been extended annually and was due on June 30, 2022. The debt was convertible at Fluor’s option at the original issue price per unit of the Company’s next round of financing securities amounting to no less than $16,000. At December 31, 2021, the convertible debt outstanding was $14,041, comprised of the original borrowing of $11,331 less the amortized premium of $1,050 plus accrued interest of $3,760. In April 2022, Fluor elected to convert all of its outstanding debt, totaling $14,181, into 8,257,560 NuScale LLC units (which then converted into NuScale LLC Class B units and non-economic voting shares of NuScale Corp Class B common stock in the Merger) at a price per unit of $9.91, which is equivalent to the PIPE price per unit received in conjunction with the Transaction. Other Notes Payable In January 2021, NuScale signed a Line of Credit Promissory Note (“LOC”) with Fluor allowing the Company to borrow funds in a series of draws up to a total principal sum of $30,000. NuScale was required to pay all unpaid amounts of principal and interest on the earlier of August 31, 2021 or the date by which the Company raised an aggregate of $40,000 or greater from the sale of preferred equity to one or more investors. This agreement was later extended through December 31, 2021. In April 2021, the Company used a portion of the proceeds received from a preferred units purchase agreement to pay all outstanding principal and interest and retire a promissory note entered into in 2020. In June 2021, the Company used a portion of proceeds received from preferred units purchase agreements to repay the remaining unpaid interest and the principal balance of $27,200 associated with the LOC. The LOC expired at December 31, 2021.

Litigation

Litigation	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation	Commitments and Contingencies In the regular course of business, the Company is involved in various legal proceedings and claims incidental to the normal course of business. Additionally, we are involved in various legal proceedings and claims relating to the Transaction with Spring Valley. These legal proceedings relate to the level of disclosure of matters prior to the Transaction, which the Company believes were timely addressed well before the Transaction. We do not believe that any of the claims are material to the Company.Management does not believe that resolution of any of these matters will materially affect the Company’s financial position or results of operations. On September 19, 2022, thirteen purported members of NuScale LLC filed suit in the U.S. District Court for the District of Oregon against NuScale LLC, Fluor Enterprises, Japan NuScale Innovation, Inc., and Sargent & Lundy Holdings, LLC. The plaintiffs purport to represent a class of individuals who held common units or options to purchase common units in NuScale LLC and seek declaratory relief and damages based on breach of contract and other common law claims. The claims are based on amendments to the operating agreement of NuScale LLC in connection with the Merger between NuScale LLC and Spring Valley Acquisition Corp. Plaintiffs claim that such amendments required the consent of holders of common units in NuScale LLC voting as a separate class. NuScale LLC’s response to the complaint was filed on November 21, 2022. Plaintiffs’ reply was filed on January 17, 2023. While no assurance can be given as to the ultimate outcome of this matter, we do not believe it is probable that a loss will be incurred and we have not recorded any liability as a result of these actions. In conjunction with DOE Office of Nuclear Energy Award DE-NE0008935 with Utah Associated Municipal Power Systems’ (“UAMPS”) wholly owned subsidiary, Carbon Free Power Project, LLC (“CFPP LLC”), we entered into a DCRA, pursuant to which we are developing the NRC license application and performing other site licensing and development activities. Under the DCRA, we may be obligated to refund to UAMPS a percentage of its net development costs up to a specified cap, which varies based on the stage of project development, if certain performance criteria are not met. As of March 7, 2023, when we entered into Amendment 3 of the DCRA and the Long Lead Material Reimbursement Agreement with CFPP LLC, the maximum reimbursement based on the current stage of project development is $81,000. As of December 31, 2022 the net development costs incurred by UAMPS totaled $17,834. Under this agreement, the Company is required to have credit support to fund the amount of its potential reimbursement of these net development costs. This letter of credit is updated quarterly based on an agreed upon forecasted estimate of net development costs. A stipulation of attaining the letter of credit is for the Company to segregate funds from the operating In December 2022, NuScale and Fluor provided CFPP LLC with the results of an economic competitiveness test (“ECT”) comparing the calculated LCOE for CFPP with the

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits 401(k) Plan The Company sponsors a defined contribution 401(k) Plan with Company contributions to be made at the sole discretion of the management. Under the provisions of the 401(k) Plan, the Company matches the employees’ contributions for the first 3% of compensation and matches 50% of the employees’ contributions for the next 2% of compensation. The expense for the 401(k) Plan was $2,511, $1,878 and $1,813 for 2022, 2021 and 2020, respectively.

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation The total compensation expense recognized for common share options, time-based RSU awards and common unit appreciation rights during the years ended December 31, 2022, 2021 and 2020 was $10,821, $6,441 and $3,718, respectively. This includes G&A expenses of $5,197 and other expense of $5,624 in 2022, $3,257 of G&A expenses and $3,184 in other expense in 2021 and $3,718 of G&A expenses in 2020. Options to purchase common units of NuScale LLC under the Fourth Amended and Restated 2011 Equity Incentive Plan of NuScale LLC (the “Legacy Plan”) were granted, before completion of the Transaction, at an exercise price equal to the fair value of the NuScale LLC units at the date of grant. In connection with the Transaction, all outstanding options to purchase NuScale LLC units converted into options to purchase 14,742,933 shares of NuScale Corp Class A common stock with no change to the remaining vesting schedule. Shares underlying those options, and an additional 17,760,961 shares of Class A common stock issuable under the Company’s 2022 long-term incentive plan (“2022 LTIP”), were registered on a registration statement on Form S-8, filed with the SEC on July 5, 2022. Except with respect to equity awards outstanding as of the completion of the Transaction, the Legacy Plan terminated on May 2, 2022, and no further equity awards will be made, or have been made since, under the Legacy Plan. Unit options granted became exercisable 25% after one year of service and on a monthly basis over three years of service thereafter. In February 2014, the Board of Managers of NuScale LLC approved amendments to NuScale LLC’s “Amended and Restated Equity Incentive Plan” and unit option agreements. The amendments generally allowed terminated and retiring employees with over five years of service to NuScale LLC an extended period of time, up to the expiration of the option, during which to exercise their fully vested options when employment ceases. Under the Company’s 2022 LTIP there have been no options granted but there were two director RSU awards and an employee RSU award. The vesting schedule differed for each award and is explained further under Time-based RSUs below. Further, in February 2023, the Board of Directors approved an additional 1,835,016 employee RSU awards that vest one-third annually starting in February 2024 for a period of three years. Effective January 1, 2023, the share pool was automatically increased by 8,972,128, which is the number of shares of Class A common stock equal to four percent (4%) of the aggregate number of shares of Class A common stock and Class B common stock outstanding on December 31, 2022, excluding any such outstanding shares of Class A common stock that were granted under the 2022 long-term incentive plan and remain unvested and subject to forfeiture as of December 31, 2022. Stock Options The following table summarizes the stock options activity relating to the Legacy Plan of NuScale LLC (historical NuScale LLC units and weighted average exercise price were adjusted using the exchange ratio) as of and for the period ended December 31, 2022: Weighted Average Aggregate Share Options Number of Shares Exercise Price Intrinsic Value Outstanding at December 31, 2021 15,393,670 $ 3.64 $ 101,906 Granted 208,013 $ 9.53 $ — Exercised (3,197,310) $ 2.24 $ 25,642 Forfeited (63,012) $ 6.70 $ — Expired (116,578) $ 2.40 $ — Outstanding at December 31, 2022 12,224,783 $ 4.09 $ 75,427 Exercisable at December 31, 2022 10,795,243 $ 3.73 $ 70,493 Vested and Expected to Vest at December 31, 2022 12,224,783 $ 4.09 $ 75,427 The total fair value of options that vested during 2022, 2021 and 2020 was $3,986, $6,291 and $3,673, respectively. The weighted average remaining contractual term for all options outstanding at December 31, 2022 was 5.4 years and the remaining weighted average contractual term of options exercisable was 5.0 years. The weighted-average grant date fair value of options granted for the year ended December 31, 2022 and 2021 was $6.29 and $4.16, respectively. These awards were granted under the Legacy Plan and required their fair value be adjusted using the exchange ratio. Prior to the Transaction, the options had no intrinsic value. Cash received for the exercise of stock options for the years ended December 31, 2022 and 2021 totaled $7,224 and $748, respectively. Total unrecognized stock option expense as of December 31, 2022 totaled $5,985 with a weighted-average period over which it is expected to be recognized of 1.8 years. The following assumptions were used in determining the fair value of options granted during the years ended December 31, 2022, 2021 and 2020: 2022 2021 2020 Risk-free interest rate 1.44% 0.62%-1.31% 0.37%-0.59% Expected dividend yield NA NA NA Expected option life 6.25 years 6.25 years 6.25 years Expected price volatility 73.98% 64.60%-73.98% 64.60%-69.21% Time-based RSUs In July 2022, under the Company’s 2022 long-term incentive plan, the Board approved 2,091,282 employee time-based RSU awards that vest one-third annually starting in May 2023 for a period of three years. In addition, 39,215 and 53,920 time-based RSU awards were approved for certain members of the Board of Directors that vest quarterly over one three years, respectively. The employee and Board time-based RSU awards had an aggregate fair value of $22,373 and $950, respectively. Total unrecognized RSU award expense as of December 31, 2022 totaled $18,656. The February 2023 RSU award has an aggregate fair value of $18,992. The following table summarizes the activity of our time-based RSUs as of and for the year ended, December 31, 2022: Weighted Average Time-based RSUs Number of RSUs Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 2,184,417 10.71 Vested (28,595) 10.20 Forfeited/Expired (15,171) 11.82 Outstanding at December 31, 2022 2,140,651 $ 10.71 Common Unit Appreciation Rights In 2013, NuScale LLC granted its Chief Executive Officer 1,000 common unit appreciation rights (“UARs”). The UARs vested one-third each year on the anniversary of the grant date. Upon exercise of a UAR, the holder would receive common units equal to the excess of the fair value of the common units over the strike price of $0.11 at the grant date multiplied by the number of rights exercised and divided by the fair value of the common unit upon exercise. In February 2022, the NuScale LLC Board of Managers approved a $1,540 cash payment (paid during the three months ended June 30, 2022) in lieu of equity issuance related to the UARs, which triggered recognition of $1,490 of equity-based compensation expense, included in G&A expenses.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As of December 31, 2022, NuScale Corp holds 30.6% of the economic interest in NuScale Power, LLC, which is treated as a partnership for U.S. federal income tax purposes. As a partnership, NuScale Power, LLC is itself generally not subject to U.S. federal income tax under current U.S. tax laws as its net taxable income (loss) and any related tax credits are passed through to its members and included in their tax returns, even though such net taxable income (loss) or tax credits may not have actually been distributed. NuScale Power Corp is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to its distributive share of the net taxable income (loss) and any related tax credits of NuScale Power, LLC. For the days and periods prior to the Reverse Recapitalization, NuScale Power, LLC was a partnership. As such, its net taxable loss and any related tax credits were allocated to its members. The period as of and for the year ended December 31, 2022 discussed below represents the period beginning January 1, 2022 and ending December 31, 2022. The Company had no current or deferred income tax expense for the year ended December 31, 2022. A reconciliation of income tax expense with amounts computed at the federal statutory tax rate is as follows: Year Ended December 31, 2022 Computed tax (21%) $ (29,730) Income attributable to legacy NuScale LLC holders $ 6,543 Income tax benefit attributable to NCI $ 17,746 Change in valuation allowance $ 9,227 State income tax benefit, net of effect on federal tax $ (1,235) Other, net (none in excess of 5% of computed tax) $ (2,551) Income tax expense $ — Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Non-current deferred tax assets (liabilities) were as follows: Deferred Taxes Year Ended December 31, 2022 Deferred Tax Assets: Investment in NuScale Power LLC $ 122,982 Net operating loss and credit carryforwards $ 3,577 Stock Compensation $ 95 Total deferred tax assets $ 126,654 Valuation allowance $ (126,654) Total $ — Deferred Tax Liabilities (none noted) Net deferred tax asset $ — The Company has assessed the realizability of the net deferred tax assets, and in that analysis, has considered the relevant positive and negative evidence available to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, the Company considered all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and recent results of operations. A significant piece of objective negative evidence evaluated was the cumulative loss incurred by NuScale Power, LLC over the three year period ended December 31, 2022. Such objective evidence limits the ability to consider other subjective evidence, such as projections for future growth. After consideration of all these factors, the Company has recorded a full valuation allowance against the deferred tax assets at NuScale Power Corp as of the Closing Date of the Transaction and as of December 31, 2022, which will be maintained until there is sufficient evidence to support the reversal of all or some portion of these allowances. The initial recognition of the Company’s deferred tax assets and valuation allowance in connection with the Transaction was recorded to additional paid-in-capital on the consolidated balance sheet. As noted above, the valuation allowance completely offset the deferred tax assets of NuScale Power Corp, which resulted in a net zero impact to the Company’s consolidated balance sheet as of the Closing Date of the Transaction. As of December 31, 2022, the Company had U.S. federal net operating loss (“NOL”) and credit carryforwards totaling $3,099, which do not expire, as well as state NOL carryforwards totaling $478, which have various expiration dates extending through 2041. The Company recognizes the financial statement effects of uncertain income tax positions when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. To the extent the Company’s assessment of such tax positions changes, the change in estimate will be recorded in the period in which the determination is made. As of December 31, 2022, the Company has not recorded any uncertain tax positions, as well as any accrued interest and penalties on the consolidated balance sheet. During the year ended December 31, 2022, the Company did not record any interest and penalties in the consolidated statements of operations. The Company’s income tax filings will be subject to audit by various taxing jurisdictions. The Company will monitor the status of U.S. federal, state and local income tax returns that may be subject to audit in future periods. No U.S. federal, state, and local income tax returns are currently under examination by the respective taxing authorities.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions From time to time, the Company enters into strategic agreements with Fluor, whereby Fluor or NuScale perform services for one another. For the years ended December 31, 2022, 2021 and 2020 , NuScale incurred expenses for services by Fluor of $31,289, $18,113 and $4,452, respectively. As of December 31, 2022 and 2021 , NuScale owes Fluor, as accounts payable and accrued expenses on the consolidated balance sheet, amounts totaling $7,694 and $3,731, respectively. For the years ended December 31, 2022 and 2021, NuScale earned revenue of $8,550 and $1,553, respectively, with no revenue earned in 2020. As of December 31, 2022 and 2021 Fluor owes NuScale $1,508 and $612, respectively, amounts which are included in accounts and other receivables on the consolidated balance sheet.

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the regular course of business, the Company is involved in various legal proceedings and claims incidental to the normal course of business. Additionally, we are involved in various legal proceedings and claims relating to the Transaction with Spring Valley. These legal proceedings relate to the level of disclosure of matters prior to the Transaction, which the Company believes were timely addressed well before the Transaction. We do not believe that any of the claims are material to the Company.Management does not believe that resolution of any of these matters will materially affect the Company’s financial position or results of operations. On September 19, 2022, thirteen purported members of NuScale LLC filed suit in the U.S. District Court for the District of Oregon against NuScale LLC, Fluor Enterprises, Japan NuScale Innovation, Inc., and Sargent & Lundy Holdings, LLC. The plaintiffs purport to represent a class of individuals who held common units or options to purchase common units in NuScale LLC and seek declaratory relief and damages based on breach of contract and other common law claims. The claims are based on amendments to the operating agreement of NuScale LLC in connection with the Merger between NuScale LLC and Spring Valley Acquisition Corp. Plaintiffs claim that such amendments required the consent of holders of common units in NuScale LLC voting as a separate class. NuScale LLC’s response to the complaint was filed on November 21, 2022. Plaintiffs’ reply was filed on January 17, 2023. While no assurance can be given as to the ultimate outcome of this matter, we do not believe it is probable that a loss will be incurred and we have not recorded any liability as a result of these actions. In conjunction with DOE Office of Nuclear Energy Award DE-NE0008935 with Utah Associated Municipal Power Systems’ (“UAMPS”) wholly owned subsidiary, Carbon Free Power Project, LLC (“CFPP LLC”), we entered into a DCRA, pursuant to which we are developing the NRC license application and performing other site licensing and development activities. Under the DCRA, we may be obligated to refund to UAMPS a percentage of its net development costs up to a specified cap, which varies based on the stage of project development, if certain performance criteria are not met. As of March 7, 2023, when we entered into Amendment 3 of the DCRA and the Long Lead Material Reimbursement Agreement with CFPP LLC, the maximum reimbursement based on the current stage of project development is $81,000. As of December 31, 2022 the net development costs incurred by UAMPS totaled $17,834. Under this agreement, the Company is required to have credit support to fund the amount of its potential reimbursement of these net development costs. This letter of credit is updated quarterly based on an agreed upon forecasted estimate of net development costs. A stipulation of attaining the letter of credit is for the Company to segregate funds from the operating In December 2022, NuScale and Fluor provided CFPP LLC with the results of an economic competitiveness test (“ECT”) comparing the calculated LCOE for CFPP with the

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of ConsolidationAs part of the Transaction, NuScale Corp has been determined to be the primary beneficiary of NuScale Power, LLC (“NuScale LLC”), a variable interest entity (“VIE”). As the sole managing member of NuScale LLC, NuScale Corp has both the power to direct the activities, and direct ownership to share in the revenues and expenses of NuScale LLC. As such, all the activity of NuScale LLC has been consolidated in the accompanying consolidated financial statements. All assets and liabilities included in the balance sheet are that of NuScale LLC, other than the Warrants and $1,566 of prepaid assets. All intercompany transactions have been eliminated upon consolidation.
Changes in Presentation	Changes in PresentationPrior year amounts totaling $1,498 and $1,505 have been reclassified out of G&A expenses to other expenses for the years ended December 31, 2021 and 2020, respectively, to conform to the current year presentation on the accompanying consolidated statements of operations.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. NuScale believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, depreciation, amortization, in-process research and development (“IPR&D”), asset valuations, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Cash equivalents with an initial maturity of between three and twelve months at time of purchase are presented as short-term investments on the accompanying consolidated balance sheet. Cash equivalents and short-term investments consist of certificates of deposit. These certificates of deposit are classified as held-to-maturity, and the estimated fair value of the investment approximates its amortized cost.
Accounts and Other Receivables	Accounts and Other Receivables Accounts and other receivables include reimbursement requests outstanding from the DOE awards, interest receivable and commercial accounts receivable associated with other federal projects. The reimbursement requests outstanding from the DOE awards are recognized as eligible costs are incurred. Reimbursement under the awards are included in Department of Energy Cost Share in the consolidated statements of operations. The majority of our receivables are either due from the U.S. federal government or have to do with a federal project. For these reasons, all receivables are deemed to be fully collectible and no allowance has been recorded.
In-process Research and Development	In-process Research and Development IPR&D represents incomplete research and development projects that had not reached technological feasibility as of their acquisition date in 2011. Due to the nature of IPR&D, the expected life is indefinite and it will be evaluated periodically for attainment of technological feasibility or impairment. Technological feasibility is established when an enterprise has completed all planning, designing, coding and testing activities that are necessary to establish that a product can be produced to meet its design specifications including functions, features and technical performance requirements. IPR&D was concluded to include both fundamental and defensive technologies comprised of OSU licensed and NuScale owned patented and unpatented technology and trade secrets. Such technologies are designed to work together in the operation of a nuclear power module. The IPR&D is anticipated to begin generating cash flows in 2026 and is expected to contribute to all of the Company’s revenues for the foreseeable future after being placed in service. IPR&D is amortized over its estimated useful life once technological feasibility is reached. As the Company has not yet completed all designing, coding and testing activities, management has determined that technological feasibility has not yet been reached. Management has not identified any indicators that would suggest any impairment of the IPR&D. If IPR&D is determined not to have technological feasibility or is abandoned, it will be impaired or written off at such time.
Revenue Recognition	Revenue Recognition In addition to advancing the commercialization of its SMR, the Company provides engineering services to customers. The Company recognizes fixed price contract revenue with multiple performance obligations as each obligation is completed. The Company allocates the transaction price to each performance obligation using an estimate of the stand-alone selling price of each distinct service in the contract. Revenue recognized on contracts that has not been billed to customers is classified as a current asset under accounts and other receivables on the consolidated balance sheet. Amounts billed to clients in excess of revenue recognized are classified as a current liability under deferred revenue. The Company recognizes time and material contract revenue as incurred, while our cost plus fixed-fee contract revenue is recognized over time, matching continuous transfer of control to the customer. The Company accounts for these contracts as a single performance obligation and recognizes revenue using the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. The percentage-of-completion method (an input method) is the most faithful depiction of the Company’s performance because it directly measures the value of the services transferred to the customer. Changes to total estimated contract cost or losses, if any, are recognized in the period in which they are determined as assessed at the contract level. Pre-contract costs are expensed as incurred unless they are expected to be recovered from the client. The Company excludes from its measurement of transaction prices all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of sales. Customer payments on contracts are typically due within 30 days of billing, depending on the contract. The Company generally provides limited warranties for work performed under its engineering contracts. The warranty periods typically extend for a limited duration following substantial completion of the Company’s work on a project. Historically, warranty claims have not resulted in material costs incurred, and for the periods presented, no warranty liability has been recorded.
Fair Value Measurement	Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 Quoted prices in active markets for identical instruments; Level 2 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and deposits, accounts payable, accrued expenses and convertible note payable approximates fair value due to their short maturities.
Property, Plant and Equipment	Property, Plant and Equipment All additions, including betterments to existing facilities, are recorded at cost. Maintenance and repairs are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost of the assets and the related accumulated depreciation is derecognized with any gain or loss recorded in the year of disposition. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Furniture and fixtures are depreciated over useful lives of seven years. Computer software is depreciated over useful lives of three
Long-Lived Assets	Long-Lived AssetsLong-lived assets including primarily property and equipment and acquired IPR&D are reviewed for impairment annually and when events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. If this review indicates that the carrying amount will not be recoverable, as determined based on comparing the estimated undiscounted future cash flows to the carrying amount, impairment is measured by comparing the carrying amount to fair value.
Goodwill	Goodwill Goodwill is the excess of the purchase price paid over the fair value of the net assets of a business acquired in a purchase business combination. Goodwill is not amortized but is reviewed for impairment annually or whenever events or changes in circumstances arise during the year that indicate the carrying amount of goodwill may not be recoverable. Impairment exists when the carrying amount of the reporting unit exceeds its fair value and an impairment loss is recognized.
Leases	Leases The Company recognizes right-of-use assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of December 31, 2022 and 2021, the Company has only operating leases. The Company’s right-of-use assets relate to office facilities, some of which include one or more options to renew, with renewal terms that can extend the lease term up to 5 years. The exercise of the lease renewal is at the Company’s discretion. Renewal periods are included in the expected lease term if they are reasonably certain of being exercised by the Company. None of the Company’s lease agreements contain material residual value guarantees or material restrictions or covenants. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term leases relate to office facilities or office equipment.
Warrant Liability	Warrant Liability The Company accounts for the Warrants in accordance with the guidance contained in Accounting Standards Codification (“ASC”) 815, “Derivatives and Hedging”, under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s consolidated statements of operations. The fair value of the Public and Private Placement Warrants has been estimated using the Public Warrants’ quoted market price. See note 5 for further discussion of the terms of the Warrants and note 6 for further discussion of the methodology used to determine the value of the Warrants.
Equity-Based Compensation	Equity-Based Compensation Our long-term incentive plan provides for grants of nonqualified or incentive stock options, restricted stock award units (“RSU”s) and performance-based award units. Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the grantee is required to provide service in exchange for the award. The determination of fair value for nonqualified or incentive stock options requires significant judgment and the use of estimates, particularly with regard to Black-Scholes assumptions such as stock price, volatility and expected option lives to value equity-based compensation, while forfeitures are recognized as incurred. The grant date fair value of RSUs is based on the closing market price of our Class A common stock on the grant date as stated on the NYSE. The option valuation model used to calculate the Company’s options uses the treasury yield curve rates for the risk-free interest rate for a period equal to the expected option life and the simplified method to calculate the expected option life (options qualified as ‘plain vanilla’ under the provisions of SAB 107). Volatility is determined by reference to the actual volatility of several publicly traded companies that are similar to NuScale in its industry sector. The Company does not anticipate paying any cash dividends in the foreseeable future and therefore uses an expected dividend yield of zero in the option valuation model. Forfeitures are recognized as they occur. All equity-based payment awards are amortized on a straight-line basis over the requisite service periods of the awards. Equity-based compensation is recorded as a general and administrative expense and other expense in the statements of operations.
Segment Information	Segment Information The Company has determined that its Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”) are its chief operating decision makers (“CODMs”). The CODMs review financial information presented for purposes of assessing performance and making decisions on how to allocate resources at the overall company level. The Company has determined that it currently operates as a single segment, though it will periodically revisit the information used by its CODMs to allocate resources and to manage the operations as it nears commercialization and deployment of its NPMs.
Research and Development	Research and Development R&D expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred.
Advertising	AdvertisingAdvertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations.
Income Taxes	Income Taxes NuScale Corp accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that the deferred tax assets will be realized. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the year of the enacted rate change. The Company accounts for uncertainty in income taxes using a recognition and measurement threshold for tax positions taken or expected to be taken in a tax return, which are subject to examination by federal and state taxing authorities. The tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination by taxing authorities based on technical merits of the position. The amount of the tax benefit recognized is the largest amount of the benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The effective tax rate and the tax basis of assets and liabilities reflect management’s estimates of the ultimate outcome of various tax uncertainties. Once identified, the Company will recognize penalties and interest related to uncertain tax positions within the provision (benefit) for income taxes line in the accompanying consolidated statements of operations. NuScale LLC is a limited liability company treated as a partnership for U.S. federal income tax purposes that is not subject to U.S. federal income tax. As such, its net taxable income or loss and any related tax credits are allocated to its members.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates issued by the Financial Accounting Standards Board (“FASB”). There are no accounting pronouncements which have been issued but are not yet effective that would have a material impact on our current financial statements.

Merger Transaction (Tables)

Merger Transaction (Tables)	12 Months Ended
	Dec. 31, 2022
Reverse Recapitalization [Abstract]
Schedule of Reverse Recapitalization	The following table provides the historical cost of the assets and liabilities assumed as a result of the Transaction: Cash $ 341,462 Warrant liabilities (47,532) Total net assets $ 293,930 The following summarizes the common stock outstanding immediately following the Transaction, on May 3, 2022: Shares % Spring Valley Class A Shareholders 14,400,369 6.5 % Spring Valley Founders (A) 3,871,009 1.8 % Total Spring Valley 18,271,378 8.3 % Legacy NuScale Equityholders 178,396,711 81.0 % PIPE Shares 23,700,002 10.8 % Total Shares at Closing (excluding shares below) 220,368,091 100.0 % Remaining NuScale Consideration Shares - upon Exercise of NuScale Corp Options 14,742,933 Other - Earn Out Shares (B) 1,643,924 Total Shares 236,754,948 (A) Includes an aggregate of 120,000 Spring Valley Class B ordinary shares that were issued to Spring Valley’s independent directors. (B) Spring Valley Founders Shares includes “Earn Out Shares”. Fifty percent of the Earn Out Shares vest, pursuant to the sponsor letter agreement, dated as of December 31, 2021, between SV Acquisition Sponsor Sub, LLC, Spring Valley and NuScale LLC, if NuScale Corp trades at $12.00 per share or higher over any 20 trading days within a 30-day window during the 60 months following the closing and the dollar volume-weighted average price (“VWAP”) is greater than or equal to $12.00 per share. The remainder of the Earn Out Shares vest if NuScale Corp trades at $14.00 per share or higher over any 20 trading days within a 30-day window during the 60 months following the closing and the VWAP is greater than or equal to $14.00 per share. The Earn Out Shares associated with the merger became vested during 2022, as the VWAP of the Company’s share price exceeded $12.00 and then $14.00 for the required time period.

Equity and Loss Per Share (Tabl

Equity and Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Noncontrolling Interest And Earnings Per Share [Abstract]
Schedule of Non-Controlling Interests	Following the Transaction, holders of Class A common stock own direct controlling interest in the results of the combined entity, while the Legacy NuScale Equityholders own an economic interest in NuScale LLC, shown as noncontrolling interests (“NCI”) in equity in NuScale Corp’s consolidated financial statements. The indirect economic interests are held by Legacy NuScale Equityholders in the form of NuScale LLC Class B units. The following table summarizes the economic interests of NuScale Corp between the holders of Class A common stock and indirect economic interests held by NuScale LLC Class B unitholders as of and for the period from May 2, 2022 through December 31, 2022: As of and for the period from May 2, 2022 through December 31, 2022 NuScale Corp Class A common stock Beginning of period 41,971,380 Conversion of combined interests into Class A common stock 21,305,891 Exercise of options and warrants 4,431,824 Vesting of earn out shares 1,643,924 End of period 69,353,019 NuScale LLC Class B units (NCI) Beginning of period 178,396,711 Conversion of combined interests into Class A common stock (21,305,891) End of period 157,090,820 Total Beginning of period 220,368,091 Conversion of combined interests into Class A common stock — Exercise of options and warrants 4,431,824 Vesting of earn out shares 1,643,924 End of period 226,443,839 Ownership Percentage NuScale Corp Class A common stock Beginning of period 19.0 % End of period 30.6 % NuScale LLC Class B units (NCI) Beginning of period 81.0 % End of period 69.4 %
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share of Class A common stock and represents the period from May 2, 2022 to December 31, 2022, the period where the Company had Class A and Class B common stock outstanding. Class B common stock represents a right to cast one vote per share at the NuScale Corp level, and carry no economic rights, including rights to dividends or distributions upon liquidation, and as a result, is not considered a participating security for basic and diluted loss per share. As such, basic and diluted loss per share of Class B common stock has not been presented. May 2, 2022 Through December 31, 2022 Net loss attributable to Class A common stockholders $ (25,914) Weighted-average shares for basic and diluted loss per share 50,763,844 Basic and Diluted loss per share of Class A common stock $ (0.51) Anti-dilutive securities excluded from shares outstanding: Class B common shares 157,090,820 Stock options 12,224,783 Warrants 18,458,703 Time-based RSUs 2,140,651 Total 189,914,957

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following table represents the Company’s financial liabilities measured at fair value on a recurring basis as of December 31, 2022: (in thousands) Level 1 Level 2 Level 3 Total Warrant Liabilities: Public Warrants $ 15,198 $ — $ — $ 15,198 Private Placement Warrants — 14,151 — 14,151 Total Warrant Liabilities as of December 31, 2022 $ 15,198 $ 14,151 $ — $ 29,349

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consisted of the following at December 31: 2022 2021 Furniture and fixtures $ 173 $ 173 Office and computer equipment 7,393 5,638 Software 13,864 15,227 Test equipment 347 347 Leasehold improvements 2,312 2,689 24,089 24,074 Less: Accumulated depreciation (19,431) (20,632) Add: Assets under development 112 1,518 Net property, plant and equipment $ 4,770 $ 4,960

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Assets And Liabilities, Lessee	Balance Sheet As of December 31, Lease Assets and Liabilities Classification 2022 2021 Right-of-use Assets Operating lease assets Other assets $ 3,870 $ 1,268 Total right-of-use assets 3,870 1,268 Lease Liabilities Operating lease liabilities, current Other accrued liabilities 1,568 1,190 Operating lease liabilities, noncurrent Noncurrent liabilities 2,786 211 Total lease liabilities $ 4,354 $ 1,401
Supplemental Lease Information	Supplemental information related to the Company’s leases follows: As of December 31, 2022 2021 Right-of-use assets obtained in exchange for new operating leases $ — $ — Weighted-average remaining lease term – operating leases 2.74 years 1.05 years Weighted average discount rate-operating leases 4.92 % 3.35 %
Lessee, Operating Lease, Liability, Maturity	The remaining lease payments under the Company’s leases follows: Year ended December 31, Operating Leases 2023 $ 1,741 2024 1,555 2025 1,341 2026 18 Total lease payments $ 4,655 Less: interest (301) Present value of lease liabilities $ 4,354

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Option, Activity	The following table summarizes the stock options activity relating to the Legacy Plan of NuScale LLC (historical NuScale LLC units and weighted average exercise price were adjusted using the exchange ratio) as of and for the period ended December 31, 2022: Weighted Average Aggregate Share Options Number of Shares Exercise Price Intrinsic Value Outstanding at December 31, 2021 15,393,670 $ 3.64 $ 101,906 Granted 208,013 $ 9.53 $ — Exercised (3,197,310) $ 2.24 $ 25,642 Forfeited (63,012) $ 6.70 $ — Expired (116,578) $ 2.40 $ — Outstanding at December 31, 2022 12,224,783 $ 4.09 $ 75,427 Exercisable at December 31, 2022 10,795,243 $ 3.73 $ 70,493 Vested and Expected to Vest at December 31, 2022 12,224,783 $ 4.09 $ 75,427
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The following assumptions were used in determining the fair value of options granted during the years ended December 31, 2022, 2021 and 2020: 2022 2021 2020 Risk-free interest rate 1.44% 0.62%-1.31% 0.37%-0.59% Expected dividend yield NA NA NA Expected option life 6.25 years 6.25 years 6.25 years Expected price volatility 73.98% 64.60%-73.98% 64.60%-69.21% Time-based RSUs In July 2022, under the Company’s 2022 long-term incentive plan, the Board approved 2,091,282 employee time-based RSU awards that vest one-third annually starting in May 2023 for a period of three years. In addition, 39,215 and 53,920 time-based RSU awards were approved for certain members of the Board of Directors that vest quarterly over one three years, respectively. The employee and Board time-based RSU awards had an aggregate fair value of $22,373 and $950, respectively. Total unrecognized RSU award expense as of December 31, 2022 totaled $18,656. The February 2023 RSU award has an aggregate fair value of $18,992. The following table summarizes the activity of our time-based RSUs as of and for the year ended, December 31, 2022: Weighted Average Time-based RSUs Number of RSUs Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 2,184,417 10.71 Vested (28,595) 10.20 Forfeited/Expired (15,171) 11.82 Outstanding at December 31, 2022 2,140,651 $ 10.71
Schedule of Time-based Restricted Stock Units	The following table summarizes the activity of our time-based RSUs as of and for the year ended, December 31, 2022: Weighted Average Time-based RSUs Number of RSUs Grant-Date Fair Value Outstanding at December 31, 2021 — $ — Granted 2,184,417 10.71 Vested (28,595) 10.20 Forfeited/Expired (15,171) 11.82 Outstanding at December 31, 2022 2,140,651 $ 10.71

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of income tax expense with amounts computed at the federal statutory tax rate is as follows: Year Ended December 31, 2022 Computed tax (21%) $ (29,730) Income attributable to legacy NuScale LLC holders $ 6,543 Income tax benefit attributable to NCI $ 17,746 Change in valuation allowance $ 9,227 State income tax benefit, net of effect on federal tax $ (1,235) Other, net (none in excess of 5% of computed tax) $ (2,551) Income tax expense $ —
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Non-current deferred tax assets (liabilities) were as follows: Deferred Taxes Year Ended December 31, 2022 Deferred Tax Assets: Investment in NuScale Power LLC $ 122,982 Net operating loss and credit carryforwards $ 3,577 Stock Compensation $ 95 Total deferred tax assets $ 126,654 Valuation allowance $ (126,654) Total $ — Deferred Tax Liabilities (none noted) Net deferred tax asset $ —

The Company (Details)

The Company (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 29, 2020 USD ($)	Apr. 30, 2015 USD ($) MW-M	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Department of Energy cost share			$ 72,336	$ 73,522	$ 71,109
Collaborative arrangement, obligated amount to receivable			233
Collaborative arrangement, obligated amount			225
Development Cost Reimbursement Agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum reimbursement based on the current stage of project development			17,834
Collaborative arrangements, restricted cash, letter of credit, collateral amount			$ 26,000
Nuscale SMR FOAK Nuclear Demonstration Readiness Project Completion
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum amount awarded	$ 350,000
Cost share	$ 350
Cost share (as a percent)	5,000%
Reimbursement of program costs (as a percent)	7,300%
Department of Energy cost share				10,237
Percentage of maximum future reimbursement requests to recognize deferred reimbursement costs			5,000%
Nuscale SMR FOAK Nuclear Demonstration Readiness Project Completion | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cost share	$ 350
Cost share (as a percent)	5,000%
Term of award	5 years
Percentage of reimbursement requests deferred	2,300%
Carbon Free Power Project Award
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum amount awarded						$ 126,694
Cost share		$ 16,617
Cost share (as a percent)		5,000%				5,000%
Collaborative arrangement, obligated amount to receivable				70
Collaborative arrangement, government cost share		$ 8,250
Eligible amount to receive				7,451
Carbon Free Power Project Award | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cost share		$ 16,617
Cost share (as a percent)		5,000%				5,000%
Nuclear powered energy | MW-M		462
Collaborative arrangement, government cost share		$ 8,250
Collaborative arrangement, remaining amount received				$ 729
Reimburse percentage			2,500%
Maximum reimbursement amount			$ 4,100

Merger Transaction - Schedule o

Merger Transaction - Schedule of Historical Cost of Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Reverse Recapitalization [Abstract]
Cash	$ 341,462
Warrant liabilities	(47,532)
Total net assets	$ 293,930

Merger Transaction - Narrative

Merger Transaction - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended	8 Months Ended	12 Months Ended			13 Months Ended
	May 02, 2022 USD ($)	Apr. 30, 2022 shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares
Business Acquisition [Line Items]
Recapitalization exchange ratio					1
Sale of stock, number of shares issued in transaction							23,700,002
Sale of stock, consideration received on transaction | $							$ 235
Units issued (shares)		8,257,560
Proceeds from Transaction, net | $	$ 341,462			$ 341,462	$ 0	$ 0
Proceeds from issuance of private placement | $	235
Cash acquired through reverse recapitalization | $	145,525
Reverse recapitalization, accrued transaction costs | $	$ 39,063
Conversion of combined interests into Class A common stock (in shares)			0
Class B
Business Acquisition [Line Items]
Common stock, par value (usd per share) | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Conversion of combined interests into Class A common stock (in shares)			(21,305,891)
Class A
Business Acquisition [Line Items]
Common stock, par value (usd per share) | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Conversion of combined interests into Class A common stock (in shares)			21,305,891
Conversion of combined Interests Calculated into TRA Obligation (in shares)			54,651,000	54,651,000			54,651,000

Merger Transaction - Schedule_2

Merger Transaction - Schedule of Common Stock Outstanding (Details) - shares		12 Months Ended
	May 03, 2022	Dec. 31, 2022
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Legacy NuScale Equityholders (shares)	178,396,711
PIPE Shares (shares)	23,700,002
Total Shares at Closing (excluding shares below) (shares)	220,368,091
Remaining NuScale Consideration Shares - upon Exercise of NuScale Corp Options (shares)	14,742,933	3,197,310
Other - Earn Out Shares (shares)	1,643,924
Total Shares (shares)	236,754,948
Stock converted, reverse recapitalization, percentage of total shares outstanding	81%
Stock issued during period, shares, reverse recapitalization, percentage of total shares outstanding	10.80%
Common stock, shares, outstanding, percentage	100%
Spring Valley
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock issued during period, acquisitions (shares)	18,271,378
Stock issued during period, shares, acquisitions, percentage of total shares outstanding	8.30%
Spring Valley Class A Shareholders
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock issued during period, acquisitions (shares)	14,400,369
Stock issued during period, shares, acquisitions, percentage of total shares outstanding	6.50%
Spring Valley Founders
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock issued during period, acquisitions (shares)	3,871,009
Stock issued during period, shares, acquisitions, percentage of total shares outstanding	1.80%

Merger Transaction - Schedule_3

Merger Transaction - Schedule of Common Stock Outstanding Footnotes (Details)	May 03, 2022 shares	May 02, 2022 d $ / shares	Dec. 31, 2022 $ / shares
Spring Valley Founders
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock issued during period, acquisitions (shares) | shares	3,871,009
Reverse Recapitalization, Contingent Consideration, Equity, Shares, Period One
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Reverse recapitalization, contingent consideration, equity, shares, vesting percentage		50%
Reverse recapitalization, contingent consideration, equity, shares, stock price trigger (usd per share) | $ / shares		$ 12	$ 12
Reverse recapitalization, contingent consideration, equity, shares, threshold trading days		20
Reverse recapitalization, contingent consideration, equity, shares, threshold consecutive trading day period		30
Reverse recapitalization, contingent consideration, equity, shares, earnout period following the closing		60 months
Reverse Recapitalization, Contingent Consideration, Equity, Shares, Period Two
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Reverse recapitalization, contingent consideration, equity, shares, stock price trigger (usd per share) | $ / shares		$ 14	$ 14
Reverse recapitalization, contingent consideration, equity, shares, threshold trading days		20
Reverse recapitalization, contingent consideration, equity, shares, threshold consecutive trading day period		30
Reverse recapitalization, contingent consideration, equity, shares, earnout period following the closing		60 months
Director | Spring Valley Founders
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock issued during period, acquisitions (shares) | shares	120,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) extension	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant Accounting Policies [Line Items]
Prepaid assets	$ 1,566,000
General and administrative expenses	(63,057,000)	$ (45,226,000)	$ (37,176,000)
Other expenses	48,009,000	37,030,000	26,645,000
Restricted cash	$ 26,532,000	0
Customer payment period	30 days
Property, plant and equipment, useful life	5 years
Number of extensions | extension	1
Length of extension (up to)	5 years
Advertising costs	$ 7,340,000	2,600,000	1,057,000
Furniture and fixtures
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	7 years
Office and computer equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years
Revision of Prior Period, Adjustment
Significant Accounting Policies [Line Items]
General and administrative expenses		1,498,000	1,505,000
Other expenses		$ 1,498,000	$ 1,505,000
Minimum | Software
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Maximum | Software
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years

Equity and Loss Per Share - Sch

Equity and Loss Per Share - Schedule of Non-Controlling Interests (Details)	8 Months Ended
	Dec. 31, 2022 shares
Noncontrolling Interest [Roll Forward]
Beginning of period (shares)	220,368,091
Conversion of combined interests into Class A common stock (in shares)	0
Exercise of options and warrants (shares)	4,431,824
Vesting of earn out shares (shares)	1,643,924
End of period (shares)	226,443,839
Class A
Noncontrolling Interest [Roll Forward]
Beginning of period (shares)	41,971,380
Conversion of combined interests into Class A common stock (in shares)	21,305,891
Exercise of options and warrants (shares)	4,431,824
Vesting of earn out shares (shares)	1,643,924
End of period (shares)	69,353,019
Class A | NuScale Corp
Controlling and Non Controlling Interest [Roll Forward]
Beginning of period	19%
End of period	30.60%
Class B
Noncontrolling Interest [Roll Forward]
Beginning of period (shares)	178,396,711
Conversion of combined interests into Class A common stock (in shares)	(21,305,891)
End of period (shares)	157,090,820
Class B | NuScale LLC
Controlling and Non Controlling Interest [Roll Forward]
Beginning of period	81%
End of period	69.40%

Equity and Loss Per Share - Nar

Equity and Loss Per Share - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 vote $ / shares shares	May 02, 2022 $ / shares
Noncontrolling Interest [Line Items]
Common equivalent ratio	1
Cumulative preferred return	10%
Reverse recapitalization (in shares) | shares	178,396,711
Common stock, vote per share | vote	1
Reverse Recapitalization, Contingent Consideration, Equity, Shares, Period One
Noncontrolling Interest [Line Items]
Reverse recapitalization, contingent consideration, equity, shares, stock price trigger (usd per share)	$ 12	$ 12
Reverse Recapitalization, Contingent Consideration, Equity, Shares, Period Two
Noncontrolling Interest [Line Items]
Reverse recapitalization, contingent consideration, equity, shares, stock price trigger (usd per share)	$ 14	$ 14

Equity and Loss Per Share - Bas

Equity and Loss Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Noncontrolling Interest And Earnings Per Share [Abstract]
Net loss attributable to Class A common stockholders	$ (25,914)
Net loss attributable to Class A common stockholders	$ (25,914)
Weighted-average shares for basic loss per share (shares)	50,763,844	50,763,844	0	0
Weighted-average shares for diluted loss per share (shares)	50,763,844	50,763,844	0	0
Basic loss per share of Class A common stock (usd per share)	$ (0.51)	$ (0.51)	$ 0	$ 0
Diluted loss per share of Class A common stock (usd per share)	$ (0.51)	$ (0.51)	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	189,914,957
Class B common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	157,090,820
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	12,224,783
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	18,458,703
Time-based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,140,651

Warrant Liabilities - Narrative

Warrant Liabilities - Narrative (Details) $ / shares in Units, $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) d $ / shares shares
Derivative [Line Items]
Number of warrants exchanged | shares	1,941,297	1,941,297
Proceeds from warrant exchanged | $	$ 22,325	$ 22,325
Exercise price of warrant | $ / shares	$ 11.50	$ 11.50
Warrants and rights outstanding, term	5 years	5 years
Period after transaction when private placement warrants become identical to public warrants		30 days
Warrant Redemption Scenario One
Derivative [Line Items]
Stock price trigger (usd per share) | $ / shares	$ 18	$ 18
Redemption price (usd per share) | $ / shares	0.01	$ 0.01
Prior written notice period for redemption		30 days
Threshold trading days | d		20
Threshold consecutive trading day period | d		30
Threshold ending trading days | d		3
Warrant Redemption Scenario Two
Derivative [Line Items]
Stock price trigger (usd per share) | $ / shares	10	$ 10
Redemption price (usd per share) | $ / shares	$ 0.10	$ 0.10
Prior written notice period for redemption		30 days
Threshold trading days | d		20
Threshold consecutive trading day period | d		30
Public Warrants
Derivative [Line Items]
Class of warrant outstanding | shares	9,558,703	9,558,703
Private Placement Warrants
Derivative [Line Items]
Class of warrant outstanding | shares	8,900,000	8,900,000

Fair Value Measurement (Details

Fair Value Measurement (Details) - Fair Value, Recurring $ in Thousands	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 29,349
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	15,198
Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	14,151
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	15,198
Level 1 | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	15,198
Level 1 | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	14,151
Level 2 | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0
Level 2 | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	14,151
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0
Level 3 | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0
Level 3 | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 0

Accounts and Other Receivables

Accounts and Other Receivables - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
DOE cost share liabilities		$ 0	$ 10,237
Interest receivable		$ 1,021
Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increased funds obligation	$ 15

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (19,431)	$ (20,632)
Net property, plant and equipment	4,770	4,960
Depreciation	2,521	2,018	$ 1,900
General and Administrative Expense
Property, Plant and Equipment [Line Items]
Depreciation	770	876	1,015
Other Expense
Property, Plant and Equipment [Line Items]
Depreciation	1,751	1,142	$ 885
Depreciable Property, Plant And Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	24,089	24,074
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	173	173
Office and computer equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	7,393	5,638
Software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	13,864	15,227
Test equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	347	347
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	2,312	2,689
Add: Assets under development
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	$ 112	$ 1,518

Intangible Assets and Redeema_2

Intangible Assets and Redeemable Common Units (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) patent shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2015 USD ($) customer $ / shares	May 03, 2022 shares	Dec. 31, 2019 shares
Federal Home Loan Bank, Advances [Line Items]
Number of patents | patent	3
Cash payment upon execution of agreement				$ 1,000
On-going quarterly cash payments				$ 25,000
Current commercial price paid for the first 24 modules sold to commercial customers (as a percent)				0.25%
Number of modules sold under first commercial scale | customer				24
Current commercial price paid for the next 12 modules sold to commercial customers (as a percent)				0.15%
Number of modules sold under subsequent commercial scale | customer				12
Temporary equity, shares outstanding (in shares) | shares	0	6,000,000	6,000,000			6,000,000
Total Shares (shares) | shares					236,754,948
Payments made for research and testing	$ 123,416,000	$ 93,136,000	$ 95,267,000
NuScale Corp Class B common stock
Federal Home Loan Bank, Advances [Line Items]
Total Shares (shares) | shares	157,090,820
Oregon State University | Purchase Sale And License Agreement
Federal Home Loan Bank, Advances [Line Items]
Cash payment upon execution of agreement				$ 1,000
Gross carrying amount				2,462,000
Expected amortization, year one	$ 177,000
Expected amortization, year two	177,000
Expected amortization, year three	177,000
Expected amortization, year four	177,000
Expected amortization, year five	177,000
Temporary equity, shares outstanding (in shares) | shares		6,000,000
Payments made for research and testing	959,000	$ 893,000	1,104,000
Accounts payable and accrued expenses	0	150,000	$ 186,000
Oregon State University | Purchase Sale And License Agreement | Patents
Federal Home Loan Bank, Advances [Line Items]
Gross carrying amount	2,462,000	2,462,000
Accumulated amortization	$ 1,403,000	$ 1,226,000
Oregon State University | Purchase Sale And License Agreement | Initial Offering
Federal Home Loan Bank, Advances [Line Items]
Number of common units granted (in shares)				$ 2,750,000
Weighted average price per unit (usd per share) | $ / shares				$ 0.25
Oregon State University | Purchase Sale And License Agreement | Secondary Offering
Federal Home Loan Bank, Advances [Line Items]
Number of common units granted (in shares)				$ 3,250,000
Weighted average price per unit (usd per share) | $ / shares				$ 0.45
Oregon State University | Purchase Sale And License Agreement | NuScale Corp Class B common stock
Federal Home Loan Bank, Advances [Line Items]
Total Shares (shares) | shares		6,000,000

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Right-of-use Assets
Operating lease assets	$ 3,870	$ 1,268
Total right-of-use assets	3,870	1,268
Lease Liabilities
Operating lease liabilities, current	1,568	1,190
Operating lease liabilities, noncurrent	2,786	211
Total lease liabilities	$ 4,354	$ 1,401
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Noncurrent liabilities	Noncurrent liabilities

Leases - Supplemental Lease Inf

Leases - Supplemental Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating leases	$ 0	$ 0
Weighted-average remaining lease term – operating leases	2 years 8 months 26 days	1 year 18 days
Weighted average discount rate-operating leases	4.92%	3.35%

Leases - Remaining Lease Paymen

Leases - Remaining Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 1,741
2024	1,555
2025	1,341
2026	18
Total lease payments	4,655
Less: interest	(301)
Present value of lease liabilities	$ 4,354	$ 1,401

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Lease expense	$ 2,063	$ 1,695	$ 1,874
Operating lease, cost	1,851	1,505	1,578
Short-term lease, cost	$ 212	$ 190	$ 296

Notes Payable - Narrative (Deta

Notes Payable - Narrative (Details) - USD ($)	1 Months Ended			12 Months Ended
	Apr. 30, 2022	Jun. 30, 2021	Jan. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2011
Debt Instrument [Line Items]
Convertible note payable							$ 10,281,000
Debt instrument, convertible, minimum conversion amount				$ 16,000,000
Conversion of debt, amount	$ 14,181,000			$ 14,181,000	$ 0	$ 0
Units issued (shares)	8,257,560
Conversion price (usd per share)	$ 9.91
Proceeds from other notes payable			$ 27,200,000
Repayment of other notes payable		$ 27,200,000
Other Notes Payable
Debt Instrument [Line Items]
Other notes payable			30,000,000
Proceeds from issuance of preferred equity			$ 40,000,000
Convertible Debt
Debt Instrument [Line Items]
Convertible debt					14,041,000
Original borrowing					11,331,000
Amortized premium					1,050,000
Accrued interest					$ 3,760,000

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan expense	$ 2,511	$ 1,878	$ 1,813
Defined Contribution Plan, Tranche One
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of employees' gross pay	3%
Defined Contribution Plan, Tranche Two
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of employees' gross pay	2%
Defined contribution plan, employer matching contribution, percent of match	50%

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($)		1 Months Ended				12 Months Ended
	Jul. 05, 2022	Feb. 28, 2023	Jul. 31, 2022	Feb. 28, 2022	Apr. 30, 2013	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock share percentage						4%
Aggregate fair value						$ 3,986,000	$ 6,291,000	$ 3,673,000
Contractual term, outstanding (in years)						5 years 4 months 24 days
Contractual term, exercisable (in years)						5 years
Weighted average grant date fair value (per share)						$ 6.29	$ 4.16
Options, intrinsic value						$ 0
Exercise of common unit options						7,224,000	$ 748,000
Unrecognized stock option expense						$ 5,985,000
Weighted-average period (in years)						1 year 9 months 18 days
Retired Or Over Five Years Experience
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period						5 years
Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage						25%
Award requisite service period						1 year
Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period						3 years
General and Administrative Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense						$ 5,197,000	3,257,000	3,718,000
Other Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense						5,624,000	3,184,000
Time-based RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense						10,821,000	$ 6,441,000	$ 3,718,000
Restricted stock or unit expense						$ 18,656,000
Time-based RSUs | Subsequent Event
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period		3 years
Shares approved (shares)		1,835,016
Common Unit Appreciation Rights (UARs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Increase to share pool, shares						8,972,128
Common Unit Appreciation Rights (UARs) | Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense				$ 1,490,000
Granted (shares)					1,000
Strike price (usd per share)					$ 0.11
Share based compensation arrangement, accrued liability to settle award				$ 1,540,000
2022 Long-Term Incentive Plan | Time-based RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares approved (shares)			2,091,282
Award vesting period			3 years
2022 Long-Term Incentive Plan | Time-based RSUs | Employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate fair value			$ 22,373,000
Shares approved (shares)			39,215
Award vesting period			1 year
2022 Long-Term Incentive Plan | Time-based RSUs | Employee | Subsequent Event
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate fair value		$ 18,992,000
2022 Long-Term Incentive Plan | Time-based RSUs | Director
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate fair value			$ 950,000
Shares approved (shares)			53,920
Award vesting period			3 years
Class A
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversions in period (shares)	14,742,933
Number of shares registered in filing (shares)	17,760,961

Equity-Based Compensation - Pla

Equity-Based Compensation - Plan Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	May 03, 2022	Dec. 31, 2022
Number of Shares
Outstanding at beginning balance (shares)		15,393,670
Granted (shares)		208,013
Exercised (shares)	(14,742,933)	(3,197,310)
Forfeited (shares)		(63,012)
Expired (shares)		(116,578)
Outstanding at ending balance (shares)		12,224,783
Weighted Average Grant-Date Fair Value
Outstanding at beginning balance (usd per share)		$ 3.64
Granted (usd per share)		9.53
Exercised (usd per share)		2.24
Forfeited (usd per share)		6.70
Expired (usd per share)		2.40
Outstanding at ending balance (usd per share)		$ 4.09
Intrinsic Value
Outstanding at beginning balance		$ 101,906
Exercised		25,642
Outstanding at ending balance		$ 75,427
Exercisable (shares)		10,795,243
Vested or expected to vest at December 31, 2022 (shares)		12,224,783
Exercisable (usd per share)		$ 3.73
Vested or expected to vest at December 31, 2022 (usd per share)		$ 4.09
Exercisable		$ 70,493
Vested and Expected to vest		$ 75,427

Equity-Based Compensation - Val

Equity-Based Compensation - Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	1.44%
Expected option life	6 years 3 months	6 years 3 months	6 years 3 months
Expected price volatility	73.98%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		0.62%	0.37%
Expected price volatility		64.60%	64.60%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		1.31%	0.59%
Expected price volatility		73.98%	69.21%

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Time-based Restricted Stock Units (Details) - Time-based RSUs	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of RSUs
Outstanding at beginning balance (shares) | shares	0
Granted (shares) | shares	2,184,417
Vested (shares) | shares	(28,595)
Forfeited/Expired (shares) | shares	(15,171)
Outstanding at ending balance (shares) | shares	2,140,651
Weighted Average Grant-Date Fair Value
Outstanding at beginning balance | $ / shares	$ 0
Granted (usd per share) | $ / shares	10.71
Vested (usd per share) | $ / shares	10.20
Forfeited/Expired (usd per share) | $ / shares	11.82
Outstanding at ending balance | $ / shares	$ 10.71

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	May 02, 2022
Income Tax Examination [Line Items]
Net operating loss carryforwards	$ 3,577
NuScale Corp | Class A
Income Tax Examination [Line Items]
Noncontrolling interest, ownership percentage	30.60%	19%
Domestic Tax Authority
Income Tax Examination [Line Items]
Net operating loss carryforwards	$ 3,099
Net operating loss carryforwards, subject to expiration	$ 478

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Computed tax (21%)	$ (29,730)
Income attributable to legacy NuScale LLC holders	6,543
Income tax benefit attributable to NCI	17,746
Change in valuation allowance	9,227
State income tax benefit, net of effect on federal tax	(1,235)
Other, net (none in excess of 5% of computed tax)	(2,551)
Income tax expense	$ 0	$ 0	$ 0

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Deferred Tax Assets:
Investment in NuScale Power LLC	$ 122,982
Net operating loss and credit carryforwards	3,577
Stock Compensation	95
Total deferred tax assets	126,654
Valuation allowance	(126,654)
Total	0
Deferred Tax Liabilities (none noted)
Net deferred tax asset	$ 0

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Revenue from related parties	$ 8,550	$ 1,553	$ 0
Fluor
Related Party Transaction [Line Items]
Related party expenses	31,289	18,113	$ 4,452
Accounts payable, related parties	7,694	3,731
Accounts and other receivables	$ 1,508	$ 612
Revenue earned percentage	72.40%

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares	Sep. 19, 2022 member
Loss Contingencies [Line Items]
Number of plaintiffs | member		13
Development Cost Reimbursement Agreement
Loss Contingencies [Line Items]
Maximum reimbursement based on the current stage of project development	$ 17,834
Collaborative arrangements, restricted cash, letter of credit, deposit in demand amount	26,532
Collaborative arrangements, restricted cash, letter of credit, collateral amount	$ 26,000
Collaborative arrangements, comparing target price | $ / shares	$ 58
UAMPS Member | Development Cost Reimbursement Agreement
Loss Contingencies [Line Items]
Maximum reimbursement based on the current stage of project development	$ 81