Japan’s Chubu Electric to Invest in US Nuclear Firm NuScale

Chubu Electric Power Co. agreed to invest in US nuclear technology company NuScale Power Corp., as the Japanese utility follows the government’s lead in making greater use of atomic power.

Chubu has entered into an agreement to acquire NuScale shares from Japan Bank for International Cooperation, the firm said in a statement Thursday. JBIC last year invested $110 million in NuScale through an investment vehicle that included infrastructure construction service provider JGC Holdings Corp. and heavy-machinery maker IHI Corp.

Financial terms weren’t disclosed.

Portland, Oregon-based NuScale develops small modular reactors, or SMRs, which have less capacity than a ...