NuScale Power Submits Letter Of Intent To Compete For U.S. Department Of Energy’s Funding Opportunity Announcement
NuScale Power LLC announced today that it has submitted a Letter of Intent to respond to the recent Department of Energy (DOE) Funding Opportunity Announcement (FOA) to accelerate the deployment of the company’s small modular reactor technology.
“We are eager to be a part of DOE’s important effort to provide assistance for design certification and ultimate deployment of SMR technology," stated John Hopkins, NuScale’s Chairman and CEO. “This program would provide the groundwork for full domestic and international commercialization of the NuScale SMR technology, and in doing so, would help rejuvenate a U.S. nuclear supply chain.”
As the only U.S.-based company established solely for the deployment and commercialization of its SMR technology, NuScale has developed unique and proprietary break-through technology for an innovative, simple, safe, economic, and scalable small modular reactor. Using proven light water reactor (LWR) technology, the NuScale Power Module is cooled by natural circulation, is entirely self-contained and installed underwater and underground to maximize safety.
The NuScale design also represents 100 percent factory-fabricated modules, including containment, and is fully transportable by truck or rail to deployment sites. It takes advantage of the “economies of small,” enhancing potential market acceptance through improved safety, efficient operation, and attractive economics. At 45 MWe per operating module, the NuScale SMR design is attractive to markets that no other LWR SMR design can reach. A NuScale power plant can include as many as 12 NuScale Power Modules to produce as much as 540 MWe.NuScale’s design development began in 2000 under a DOE-funded research program and reflects 13 years of advancement and refinement—validated through comprehensive testing in a one-third scale prototype test facility since 2003. NuScale was the first US-based SMR vendor to begin discussions with the U.S. Nuclear Regulatory Commission beginning in 2008 and has been engaged in pre-application discussions since that time. With a DOE submittal deadline of July 1, NuScale’s application in response to the FOA will fully detail its approach to achieve a U.S. NRC Certification in a timeframe that would support commercial operation by 2025.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV