NuScale Power has submitted its proposal to participate in U.S. Department of Energy (DOE) Small Modular Reactor Funding Opportunity to accelerate the deployment of small modular reactors, according to a Monday release.
"Our approach offers DOE a plant with innovative new safety features and true scalability, which enable it to achieve a wide range of outputs to meet the power demands of individual utilities," Paul Lorenzini, CEO of NuScale, said. "We are grateful that our government is helping American companies recapture the technological lead in the international nuclear power industry. NuScale's design will do just that."
NuScale's proposal has broad support from prospective customers, economic development organizations and elected officials from across the U.S. As part of the NuHub economic development organization, South Carolina Gas & Electric, a division of SCANA, has agreed to lead the formation of a consortium to license and operate the first NuScale plant at the Savannah River Site. The DOE investment funds will be awarded to SMR projects that have the most potential and promise to be licensed by the Nuclear Regulatory Commission and achieve commercial operation by 2022.
"NuScale's design development began in 2000 under a DOE-funded research program. Its design reflects 12 years of evolution and refinement, and has been validated through comprehensive testing in a one-third scale prototype test facility, which began operating in 2003. To date we have invested nearly $100 million in private funds in commercializing the NuScale technology," Lorenzi said. "The recent entry into the SMR market by other companies demonstrates the importance of this new breed of nuclear plant to the worldwide market."