Latest news with #JoséReyes
Business Wire
18-06-2025
- Business
- Business Wire
NuScale Advances Clean Water and Hydrogen Production with Breakthrough Research
CORVALLIS, Ore.--(BUSINESS WIRE)--NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, today announced research programs aimed at advancing an integrated energy system that can provide both clean water and an energy efficient means for hydrogen production. A single NuScale Power Module™ (NPM) coupled to a state-of-the-art reverse osmosis desalination system could yield approximately 150 million gallons of clean water per day without generating carbon dioxide. 12 NPM's would be able to provide desalinated water for a city of 2.3 million residents and also have surplus power to provide 400,000 homes with electricity. A Novel Approach to Hydrogen Production and Industrial Brine Reuse While NuScale's Power Modules offer an immediate solution for cleanly powering desalination, the resulting brine production remains an environmental challenge. To address this issue, the research team at NuScale Power developed a new approach for hydrogen storage, transport, and production that uses leftover brine from the desalination process as industrial feedstock. NuScale partnered with experts at the U.S. Department of Energy's Pacific Northwest National Laboratory (PNNL) to examine hydrogen production from an inert salt drawn from water desalination byproducts that is safe and easy to transport. NuScale's hydro-thermal chemical decomposition approach to hydrogen production does not require electrolysis of water, driving down energy and water usage while lowering costs. Moreover, it is carbon-free if the energy for the conversion processes comes from NuScale's integrated energy systems. The research on this novel approach was presented at the World Petrochemical Conference in March 2025. It demonstrates progress for both desalination and clean hydrogen, processes with historically challenging issues ranging from how to handle brine waste to concerns about the carbon-intensity of hydrogen production. 'The near-term predictions of global water scarcity have become increasingly alarming while the interest and financial incentives for producing clean hydrogen continue to grow,' said Dr. José Reyes, Co-Founder and Chief Technology Officer of NuScale Power. 'What we have found is a win-win-win aimed at addressing water scarcity, brine remediation, and hydrogen production. We believe our breakthrough innovation can meet our global water challenges while providing clean, carbon-free energy.' NuScale has also developed an Integrated Energy System simulator for hydrogen production (High-Temperature Steam Electrolysis Mode), hydrogen storage, and hydrogen power production (Fuel Cell Mode) at its headquarters in Corvallis, Oregon. The simulator enables the company to dynamically evaluate and optimize different configurations for a wide range of commercial scale industrial applications requiring greater than 200 metric tons of hydrogen per day. 'NuScale continues to evaluate a wide range of SMR-powered hydrogen production methods,' said Reyes. 'Our operations team, working with GSE Solutions and Fuel Cell Energy, developed and coupled a Solid Oxide Electrolysis model for hydrogen production and a Fuel Cell model for power production to our Main Control Room Simulator. NuScale is the first SMR company to achieve this goal using integrated energy systems that support hydrogen production.' About NuScale Power Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The NuScale Power Module™, the company's groundbreaking SMR technology, is a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output. As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. To learn more, visit NuScale Power's website or follow us on LinkedIn, Facebook, Instagram, X and YouTube. Forward Looking Statements This release may contain forward-looking statements (including without limitation statements containing words such as "will," "believes," "expects," 'anticipates,' "plans" or other similar expressions). These forward-looking statements include statements relating to expectations regarding NuScales' research programs, including advancing an integrated energy system, the amounts of water and power that could be produced, and the ability to address water scarcity, brine remediation and hydrogen production and to meet global water challenges while providing clean, carbon-free energy, strategic and operational plans, capital deployment, future growth, new awards, backlog, earnings and the outlook for the company's business. Actual results may differ materially as a result of a number of factors, including, among other things, the Company's liquidity and ability to raise capital; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; our expectations regarding obtaining regulatory approvals, and the timing thereof, to deploy our SMRs in the United States and abroad; forecasts regarding end-customer adoption rates and demand for our products in the markets that are new and rapidly evolving; limitations on the effectiveness of our controls and procedures and our remediation plans related thereto; intense competition in the industries in which we operate; failure of our partners to perform their obligations; cyber-security breaches; foreign economic and political uncertainties; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of our control, including weather conditions, pandemics (including COVID-19), public health crises, political crises or other catastrophic events; macroeconomic conditions; the use of estimates and assumptions in preparing our financial statements; client delays or defaults in making payments; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; uncertainties, restrictions and regulations impacting our government contracts; the inability to hire and retain qualified personnel; the potential impact of certain tax matters; possible information technology interruptions; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; damage to our reputation; failure to adequately protect intellectual property rights; asset impairments; climate change and related environmental issues; increasing scrutiny with respect to sustainability practices; the availability of credit and restrictions imposed by credit facilities for our clients, suppliers, subcontractors or other partners; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure by us or our employees, agents or partners to comply with laws; new or changing legal requirements, including those relating to environmental, health and safety matters; failure to successfully implement our strategic and operational initiatives and restrictions on possible transactions imposed by our charter documents and Delaware law. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company's results may differ materially from its expectations and projections. Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission (the 'SEC'), including the general economic conditions and other risks, uncertainties and factors set forth in the section entitled 'Cautionary Note Regarding Forward-Looking Statements' and 'Summary of Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequent filings with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale's Investor Relations Department at ir@ The Company disclaims any intent or obligation other than as required by law to update the forward-looking statements.
Entrepreneur
13-06-2025
- Business
- Entrepreneur
How These 2 Sports Icons Are Bringing Swagger to Next-Gen Eyewear
NYC sports legends Stephon Marbury and José Reyes bring their signature swagger and hands-on creative input to elevate Chamelo's brand and expand its reach. Opinions expressed by Entrepreneur contributors are their own. Stephon Marbury had a tumultuous basketball career. He went from being hailed as a franchise savior in New Jersey to being lambasted as a scapegoat by his hometown New York Knicks. This all happened moving overseas to play in China, where he became revered like a god. But throughout all the ups and downs, one thing remained consistent with Marbury — his ability to market himself. From Brooklyn to Beijing, the Coney Island kid has always carried a unique swagger and stayed in touch with his roots. He became the first NBA player to endorse street ball brand AND 1, and launched the company into a new stratosphere of cultural relevance with his flashy play style and bravado. He turned his iconic nickname, Starbury, into a bona fide brand, dominating headlines in 2006. Now, as chief brand officer of Chamelo Eyewear, Marbury is channeling that same cultural clout and business savvy into a new arena. Related: The Next Chapter of Basketball? Why This New League Is Betting Big on 1v1 Hoops Futuristic vision Chamelo's aren't just any old sunglasses. They don't just block UV rays or make you look cool — you can adjust the tint, switch colors and even listen to music or take calls. While the tech itself isn't brand new, Chamelo has leveled it up, cutting the shade-change time down to just 0.9 seconds, compared to as long as eight minutes on other platforms. "What we're doing is exciting because it's something new to the world," Marbury says. "We've got Prismatic lenses that shift between four different colors. Nobody's ever seen that before. And when you're part of something that's never been done before, and it's a win-win for everyone, that's special." Marbury was first introduced to Chamelo's tech at the Jockey Club in Hong Kong, where he met founder Fenghua Li, an avid basketball fan. "Within the first five minutes, he showed me the glasses, and I was like, wait — do that again," Marbury recalls. "I'd never seen anything like it." Sensing the opportunity, Marbury immediately expressed interest in helping Chamelo expand into the U.S. It wasn't long before the two reconnected in Malibu and began building the business. Li sought out Marbury not just for his marketing prowess, but his legendary status in China, where he won three CBA championships for the Beijing Royal Fighters, becoming one of the country's most beloved athletes. "He figured doing business with me in America would be easy," Marbury says. "I said, look, it's not important for people to know my role — it's more important that we build this up and show people that the next wave of future technology is here." Related: Chris Paul Was Tired of Bland Plant-Based Snacks — So He Made His Own. Collaboration and teamwork Though Marbury wants Chamelo to carve out its lane in the eyewear industry, he also emphasizes the importance of collaboration. "We want to be friends with everybody so everyone can utilize our technology," he says. Since joining the company as chief brand officer, Marbury has led several creative marketing initiatives, including a limited-edition "Knicks Aura" sunglasses collection, a deal with China Duty Free Group, and a partnership with New York Mets legend Jose Reyes. "It was love at first sight," says Reyes. "Their style and lens color-changing technology reminded me of how I used to play. I would absolutely wear them in a game." As Chamelo's first official ambassador, Reyes worked closely with the brand to co-design a new sunglasses collection set to debut throughout 2025. "I was hands-on with the design, paying close attention to the details," he says. "My style will be amplified in this collection." Related: Shaquille O'Neal Is Settling the FTX Class Action Lawsuit Filed Against Him By Investors. Here's How Much He'll Pay Out. An entrepreneurial past Chamelo isn't Marbury's first venture into consumer products. Nearly 20 years ago, he launched Starbury, a footwear brand that made headlines for its $15 sneakers and commitment to affordability. "Starbury was a great crash course," Marbury says. "I got to learn the American market at a challenging time." Despite early buzz, the brand faded after its exclusive retail partner, Steve & Barry's, filed for bankruptcy during the 2009 financial crisis. The experience taught Marbury a valuable lesson about control: "It's better to have everything in place and build a business where you can be vertical," he says. While Marbury's goal with the Starbury sneakers was to make quality footwear more accessible for kids, some critics misread the low price point as a sign of low quality. With Chamelo, he's taking a more strategic approach, following a "good-better-best" pricing model. "I always try to have something for everybody," he says. "Our next step is creating an affordable pair of glasses so kids can experience and experiment with the technology." In his short time as chief brand officer, Marbury has infused Chamelo with his signature swagger and unmistakable New York edge, helping the brand stand out in a crowded market. "We feel privileged and thankful that when people walk into certain stores and see Louis Vuitton, Gucci, Versace, and Prada, they also see little old us," he says. With recent partnerships alongside the New York Knicks and Jose Reyes, Chamelo's future is only getting brighter. Good thing the shades are adjustable.
