DOE makes new investment in small modular nuclear reactors

The Department of Energy made a second investment in small modular nuclear reactor technology with a private-public partnership program to develop and license small modular reactor designs.

DOE made the award to NuScale Power LLC for up to $226 million over five years. This follows an award granted in November 2012 to the Babcock & Wilcox Co. in partnership with the Tennessee Valley Authority (TVA) and Bechtel International.

"The Nuclear Energy Institute congratulates NuScale Power, as well as its project partners Fluor Corporation, Energy Northwest and Rolls Royce, for advancing a small reactor design that has achieved an important milestone. The Department of Energy's newest investment in the development of small reactor designs boosts the potential for accelerated commercialization of an advanced clean energy technology that can have a tremendously positive impact domestically and internationally," said Richard Myers, the Nuclear Energy Institute's vice president for policy development, planning and supplier programs.

"Small reactors provide a new opportunity for America to recapture global leadership in the clean energy sector. They can provide electricity for remote locations in the United States and are especially well-suited to countries where reactor modules can be added as needed to match growth in electricity demand and transmission capabilities. In addition, with three-fourths of the globe comprised of oceans, small reactors can power desalinization facilities and produce vast quantities of drinking water for a growing global population," Myers said.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs