NOV Announces Sale of Advanced Nuclear Development Company Shepherd Power to Natura Resources in Stock for Stock Transaction

• NOV becomes investor in Natura Resources (“Natura”) and appoints representative to Natura’s Board of Directors in conjunction with the sale of Shepherd Power
• NOV and Natura sign Memorandum of Understanding (“MOU”) to establish a supply chain agreement where NOV will leverage its manufacturing, supply chain, and project management expertise to support scaling advanced nuclear power solutions

HOUSTON, Dec. 10, 2025 (GLOBE NEWSWIRE) -- NOV Inc. (NYSE: NOV) today announced the sale of Shepherd Power, its advanced nuclear development company, to Natura, a leading developer of advanced small modular reactor (“SMR”) technology. As part of the transaction, NOV and Natura have signed an MOU to establish a supply chain agreement where NOV will provide manufacturing and project management expertise to support scaled deployment of Natura’s advanced nuclear reactors.

Specifically, the supply chain agreement is expected to support Natura’s plans to deploy 100-megawatt molten salt reactor units for data center and industrial markets starting in 2029 and reaching scale in 2032. The cooperation will leverage NOV’s manufacturing footprint and procurement expertise alongside Natura’s reactor platform.

“The power market is one of the most significant industrial growth opportunities of the next decade,” said Jose Bayardo, President and COO of NOV. “Our collaboration with Natura allows NOV to bring its unmatched manufacturing and project management capabilities into an adjacent sector that demands the same rigor, scale, and reliability we have delivered to energy customers for more than a century. We believe that Natura’s technology will be one of the first advanced reactors commercially available in the United States. Natura’s molten salt reactor design incorporates critical safety features and leverages the existing uranium supply chain, enabling the ability to scale manufacturing of reactors that can economically produce heat and power.”

“This strategic transaction will accelerate commercialization of our molten salt reactor technology and enhance our ability to offer comprehensive power solutions to customers,” said Doug Robison, Founder and CEO of Natura Resources. “Shepherd Power is a leading voice in the advanced nuclear regulatory space, having significantly contributed to commercial licensing clarity with federal and state regulators and has expertise in the requirements to site, build, own and operate reactors. Combined with NOV’s expertise in scaling highly engineered equipment to drive down delivery costs, this transaction positions us to lead in delivering gigawatts of safe, advanced nuclear reactors within the next 5 years to support critical power needs and fuel American A.I. leadership.”