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Small Modular Reactor Project Gets Additional Funding

August 27, 2013

FREDERICK, MD, August 27, 2013 — The U.S. Energy Department allocated an additional $20.5 million to support a new project to design, license, and help commercialize small modular reactors (SMR) in the United States. The award will support a project led by Babcock & Wilcox (B&W) in partnership with the Tennessee Valley Authority and Bechtel.

“DOE’s continued support of SMR technology validates its potential as an important part in our nation’s clean energy mix,” said Greg Ashley, president of Bechtel’s nuclear power business line. “Although low natural gas prices are the subject of many recent media headlines, the benefits that SMRs provide—scalability, significant lower initial investment for owners than large reactors, improved safety—should not be overlooked.”

An initial $79 million in funding was made available in April through DOE's Small Modular Reactor (SMR) Licensing Technical Support Program for the development and licensing of B&W's mPower™ technology. Generation mPower, a partnership between Bechtel and B&W, will provide licensing and engineering support for the project.

Read Babcock & Wilcox’s press release on the funding here.

About Bechtel:
Bechtel is among the most respected engineering, project management, and construction companies in the world. We stand apart for our ability to get the job done right—no matter how big, how complex, or how remote. Bechtel operates through five global business units that specialize in civil infrastructure; power generation, communications, and transmission; mining and metals; oil, gas, and chemicals; and government services. Since its founding in 1898, Bechtel has worked on more than 22,000 projects in 140 countries on all seven continents. Today, our 53,000 employees team with customers, partners, and suppliers on diverse projects in nearly 50 countries. For more information about Bechtel visit www.bechtel.com.

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