The U.S. Department of Energy last week announced a second round of funding for small modular reactors.
The first award, announced earlier this year, provided support to Babcock and Wilcox Co. through a program that could result in small modular reactors at the former Clinch River Breeder Reactor site in west Oak Ridge. In November, B&W announced it had already invested more than $360 million in that project, and the North Carolina company was looking for investors and possibly majority owners.
DOE said the new award was given to Oregon-based NuScale Power LLC to support a new project to design, certify, and help commercialize innovative small modular reactors in the United States.
The department said the reactors could provide clean, safe, and cost-effective nuclear energy, and build on President Obama’s Climate Action Plan to “continue America’s leadership in clean energy innovation.” [Read more…]