NuScale Power Corp. (NYSE:SMR) is one of the 12 best industrial stocks with more than 50% upside.

On June 17, NuScale Power Corp. (NYSE:SMR) awarded Paragon a contract to complete the design of its Highly Integrated Protection System for the NuScale Power Module. The United States Nuclear Regulatory Commission issued approval for an SMR design specifically for NuScale.

Marcin Balcerzak/Shutterstock.com

As per the agreement, Paragon will finish the rest of the design as well as the engineering work for 3 important HIPS-based control and instrumentation systems. This agreement comprises the Plant Protection System, which oversees non-safety operations including control room HVAC, the Safety Display and Indication System, which feeds operators with vital post-accident plant data, and the Module Protection System, which safeguards each reactor module.

In order to support the validation of safety-critical programs for nuclear applications, the contract additionally stipulates Independent Verification and Validation services for Module Protection System development. NuScale’s President and CEO, John Hopkins, acknowledged Paragon for its critical role in building the HIPS technology, leading to the enhancement of the underlying control systems. He further stated:

“This partnership helps us to achieve the goal of delivering reliable, carbon-free power to our customers while ensuring the highest level of safety.”

NuScale Power Corp. (NYSE:SMR) is focused on small modular reactor technology solutions. It offers NuScale Power Module, a 77 MWe light water nuclear reactor. The company also delivers construction, operation, design, licensing, and maintenance services for power plants.

While we acknowledge the potential of SMR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. Follow Insider Monkey on Google News.