NuScale, others go after federal funding

NuScale will compete for federal funding for small-scale nuclear reactor development.

NuScale will compete for federal funding for small-scale nuclear reactor development.

NuScale Power Inc. and a handful of other small-scale nuclear reactor companies are competing for a $452 federal grant from the U.S. Department of Energy aimed and bringing the new energy technology to market.

The grant, a maximum of $226 million each for two technologies that will be awarded as a match to other investment over five years, should be determined by the end of the fiscal year in September.

In addition to Corvallis-based NuScale, Charlotte, N.C.-based Babcock & Wilcox Co., Westinghouse Electric Co., which also has operations in North and South Carolina, Hyperion Power Generation Inc. of Denver and Holtec International Inc. of Jupiter, Fla., are all expected to compete for the funding.

The DOE announced the funding program in January.

The small-scale reactors, such as the ones being developed by NuScale, are about one-third the size of typical nuclear reactors and are thought to be a safer and more flexible way to put nuclear energy on the grid.


@SustainableBzOR | christinawilliams@bizjournals.com | 503.219.3438

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