FREDERICK, Maryland - August 27, 2013
Small Modular Reactor Project Gets Additional Funding
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.