NuScale joins race for SMR reactor funding

NuScale Power LLC submitted a Letter of Intent for the Department of Energy’s second round of funding in order to accelerate the development of small modular reactors (SMRs).

NuScale has developed the 45 MWe NuScale Power Module, a light water reactor technology that is cooled by natural circulation and is installed underwater and underground. Fluor Corp. (NYSE: FLR) is backing the company in developing the SMR.

Babcock & Wilcox (NYSE: BWC) was selected Nov. 20 for the first round of funding from DOE to develop the company’s mPower SMR reactor.

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