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NuScale Picked for Second Round of Small Modular Reactor Funding by Staff PennEnergy, December 12, 2013

NuScale Power LLC. was selected for the second round of funding from the U.S. Department of Energy (DOE)'s cost-sharing program to develop its small modular reactor (SMR) technology.

NuScale is a U.S.-based company formed solely to develop SMRs. Its 45 MW module uses the natural forces of physics for normal operations and shutdown, eliminating the needs for many of the pumps, motors, valves and piping used in large-scale nuclear power plants.

"We are very pleased with the DOE's decision to award funding to NuScale Power and the company's revolutionary technology for nuclear energy safety," said John Hopkins, NuScale Power's chairman and chief executive officer."We are grateful to all those stakeholders who have voiced their support for NuScale throughout the DOE selection process including prospective customers, elected officials, our teaming partner Rolls Royce, as well as NuScale's majority owner Fluor Corporation."

DOE and NuScale will now begin negotiations to formalize the public-private funding for the five-year program. NuScale will be required to match the federal funds, which will be used to design, engineer, test and pursue design certification from the U.S. Nuclear Regulatory Commission.

Energy Northwest, which teamed with NuScale in July, will have the first right of offer to operate a demonstration of a commercial SMR by 2024.

"Energy Northwest is quite pleased the U.S. Department of Energy awarded funding to NuScale Power to aid in the development of the NuScale small modular reactor (SMR)," said Mark Reddemann, Energy Northwest chief executive officer."Energy Northwest and a group comprised of public and investor-owned utilities undertook a rigorous two-year assessment of all SMR technologies and concluded that the NuScale technology is the right technology to best meet the needs of Northwest consumers over the long term. This award further validates that analysis."