DOE PROVIDES B&W NEXT INSTALLMENT OF SMR FUNDING

B&W announced yesterday that it has received the latest allocation of Department of Energy funds to support its mPower small modular reactor. The $20.5 million allocation, provided through a cooperative agreement DOE finalized with B&W this spring, comes on top of an initial allocation of $79 million. “With this most recent allocation … the full commitment of the Department to the initial budget period has now been made available to B&W mPower under the program,” a B&W release says. “This additional funding allocation from the DOE further demonstrates the U.S. government’s commitment to supporting private industry in the development and deployment of small modular reactor technology,” B&W mPower President Christofer Mowry said in the release. “We remain on an aggressive schedule toward the anticipated commercial operation of the Clinch River mPower Plant near Oak Ridge, Tenn., by 2022 and appreciate the DOE’s support as we move closer to delivering this vital technology to the global energy market.”