NuScale Power Has Invested More Than $900 Million Into the Development of Small Modular Reactor Technology

YaleEnvironment360 reports that the energy tech company NuScale Power has invested more than $900 million into the development of small modular reactor (SMR) technology, a new, smaller scale form of nuclear power which may represent the future of nuclear power plants.

“Our groundbreaking SMR) design features a fully fabricated NuScale Power Module™”, says NuScale, “capable of generating 60 MW of electricity using a safer, smaller, scalable version of pressurized water reactor technology.”

NuScale has multiple fronts of development, but one promising project is in Idaho, where it is on track to break ground on its first nuclear power plant, according to YaleEnvironment360.

NuScale Power is so far leading the United States in the global trend of miniature nuclear reactor development. Russia, China and Canada all have small modular reactors in development or operation.

The energy company has had support and cooperation from Washington. The U.S. Nuclear Regulatory Commission reviewed its first ever SMR certification when it completed the fourth phase of review on NuScale’s design, according to YaleEnvironment360. The U.S. Department of Energy has already invested $317 million in the research and development of NuScale’s SMR project.

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