Oregon State University spin-out NuScale Power is set to receive a massive grant from the US Department of Energy (DOE) for developing small modular reactor (SMRs).
The grant, worth up to $226m, calls for NuScale and its investors to provide matching money and will last for five years. Proceeds from the funds will be used to further commercialise NuScale’s SMR technology, which provides a small-scale nuclear power source described as “clean, safe and cost-effective” by the DOE.
Energy secretary Ernest Moniz said: “Small modular reactors represent a new generation of safe, reliable, low-carbon nuclear energy technology and provide a strong opportunity for America to lead this emerging global industry. The Energy Department is committed to strengthening nuclear energy’s continuing important role in America’s low carbon future, and new technologies like small modular reactors will help ensure our continued leadership in the safe, secure and efficient use of nuclear power worldwide.”
The DOE hopes the investment will help progress NuScale’s efforts to obtain Nuclear Regulatory Commission design certification, and look to be commercially ready by 2025.
