NuScale Power Corp. (SMR) saw its shares soar by 5.08% in after-hours trading on Monday, as the company's innovative small modular reactor (SMR) technology continues to gain traction amid growing demand for clean and reliable energy sources.

The after-hours rally comes on the heels of increasing optimism surrounding NuScale's SMR technology, which offers a modular and scalable solution to meet the energy needs of companies striving to reduce their carbon footprint. As the only company to have secured a Standard Design Approval from the U.S. Nuclear Regulatory Commission for its SMRs, NuScale is well-positioned to capitalize on the growing momentum in the nuclear energy sector.

According to industry experts, the rising popularity of SMRs is driven by their potential to lower costs and accelerate the deployment of nuclear reactors, making nuclear energy more accessible and economically viable. Major technology companies and financial institutions have expressed robust support for nuclear power, further fueling the demand for SMR technology.