NuScale Power signed a memorandum of understanding with Curio and Framatome to evaluate ways to use recovered nuclear fuel materials for future fuel and product streams.

The three nuclear technology companies will "evaluate source-to-product and source-to-fuel pathways for materials recoverable through Curio's proprietary NuCycle technology, while identifying opportunities for future engineering coordination, fuel development, qualification, fabrication and commercialization," Curio said Monday.

The collaboration is intended to consider nuclear fuel solutions that can support both domestic and international nuclear energy deployments. The companies plan to conduct technical assessments, supply chain analyses, and feasibility studies, as well as to consider potential future development agreements and commercial partnerships.

"With the most near-term deployable SMR technology, NuScale has long recognized that the nuclear industry requires a strong, reliable, sustainable front-end and back-end fuel supply to meet increasing demand," NuScale Chief Executive John Hopkins said, referring to the company's small modular reactor technology.

Financial terms of the agreement weren't disclosed.

Shares of NuScale fell 4.5% to $9.38 on Monday.