Description

NOV Enters the SMR Race—And It Could Reshape the Energy Future!

The latest development in NOV’s evolving strategic landscape emerged when Natura Resources acquired Shepherd Power—an NOV subsidiary—and simultaneously entered into a commercial partnership with NOV to accelerate molten salt small modular reactor (SMR) deployment. While Natura did not acquire NOV itself, the transaction marks the first time an advanced nuclear developer has strategically aligned with NOV’s manufacturing, engineering, and project delivery capabilities. This has sparked investor speculation about whether such collaboration could expand into deeper strategic interest over time. Natura plans to deploy its first 100 megawatt SMR by 2029 following a 1 megawatt test unit in 2026, and expects multi gigawatt rollouts between 2029–2032—timelines that require large scale fabrication, global project execution, and cost discipline. NOV enters this partnership with record subsea and process equipment backlogs, a strengthening production equipment mix, robust free cash flow, and deep experience delivering complex energy infrastructure across cyclical markets.