Wednesday, July 3, 2013

NuScale Power Looks To DOE For Funding Needs

Portland-based nuclear power plant technology developer NuScale Power is looking to the Department of Energy (DOE) to support its technology development, the company said this week. According to NuScale, it has submitted an application to the DOE for a second funding opportunity focused on creating small modular reactors. NuScale said it is aiming at receiving U.S. Nuclear Regulatory Commission (NRC) Certification that would allow for commercial operation by 2025. NuScale has been looking to convince the power industry--and consumers--that its technology will allow for safe, failproof nuclear power. Nuclear power has been at a standstill in the United States, due to very high costs, regulatory hurdles, and public opinion; NuScale is attempting to commercialize technology developed at Oregon State University.