Official announcements from the U.S. Department of Energy or the involved companies

U.S. Opens $900 Million Fund for Carbon-Free Small Modular Nuclear Reactors, Aiming to Boost Domestic Industry

Oct 16, 2024, 03:46 PM

The U.S. Department of Energy has opened applications for a $900 million funding program aimed at supporting the deployment of small modular nuclear reactors (SMRs). This initiative is part of the Biden administration's strategy to enhance carbon-free energy sources and strengthen the domestic nuclear industry. The funding is expected to facilitate the construction and deployment of light-water small modular reactors, which are viewed as essential for meeting future energy demands and advancing nuclear technology in the country. Key companies involved in this sector include $SMR, $NU, $PL, and $BWXT.