WASHINGTON, Dec. 12, 2013 (GLOBE NEWSWIRE) -- The U.S. Department of Energy demonstrated its commitment to small modular reactor designs with a second, new investment in a private-public partnership program to develop and license small modular reactor designs. DOE made the award today to NuScale Power LLC for up to $226 million over five years. This follows an award granted in November 2012 to the Babcock & Wilcox Co. in partnership with the Tennessee Valley Authority and Bechtel International. Following is a statement from Richard Myers, the Nuclear Energy Institute's vice president for policy development, planning and supplier programs.
"The Nuclear Energy Institute congratulates NuScale Power, as well as its project partners Fluor Corporation, Energy Northwest and Rolls Royce, for advancing a small reactor design that has achieved an important milestone. The Department of Energy's newest investment in the development of small reactor designs boosts the potential for accelerated commercialization of an advanced clean energy technology that can have a tremendously positive impact domestically and internationally.
"Small reactors provide a new opportunity for America to recapture global leadership in the clean energy sector. They can provide electricity for remote locations in the United States and are especially well-suited to countries where reactor modules can be added as needed to match growth in electricity demand and transmission capabilities. In addition, with three-fourths of the globe comprised of oceans, small reactors can power desalinization facilities and produce vast quantities of drinking water for a growing global population.
"As the United States develops this exciting new technology, thousands of jobs will be created across multiple manufacturing and transportation industries. Accelerating the commercialization of this technology is critical to ensure the international competitiveness of U.S. small reactors."
The Nuclear Energy Institute is the nuclear energy industry's policy organization. This news release and additional information about nuclear energy are available at www.nei.org.
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