DOE Announces Funding for Small Nuclear Reactors

The U.S. Department of Energy announced that it has selected NuScale Power as its second winner in the agency’s public-private partnership program to support the development of small modular reactors (SMR). The award includes a five-year cost-sharing program including up to $226 million in funding – DOE will provide 50% of the cost of the project and requires matching funding from the company.

DOE originally announced its decision to partner with the nuclear industry to develop SMRs in March 2012, issuing a Funding Opportunity Announcement (FOA) worth up to $452 million. Babcock & Wilcox received the first award in November 2012 and after negotiations with DOE, the two signed an agreement in April 2013 that provides B&W with $79 million in federal funding.

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