$NOV makes major sale and investment: sells their nuclear energy development arm, Shepherd Power, to molten salt reactor developer @NaturaResources
This creates a duo that is similar to NuScale and ENTRA1, where NuScale designs and develops the reactor while ENTRA1 actually builds and operates the reactor. NuScale earns a licensing fee and ENTRA1 signs a Power Purchase Agreement with an offtaker
Natura though will own Shepherd as an in-house arm of their company, creating a stronger relationship that the two separate companies described above
The most significant aspect for Natura is honestly not the acquisition of Shepherd, imo. It's the partnership with NOV to develop a supply chain for securing heavy manufacturing and fabrication services for their reactor.
NOV, an established O&G equipment supplier, is one of the few companies in the US that has the facilities and capabilities to establish new, or retool existing, production capacity for building out a new small reactor fleet
Extremely bullish for all companies involved, and the nuclear industry as a whole. Great to see the O&G sector getting more involved with nuclear energy
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