The Department of Energy has earmarked $230M for a new program aimed at helping companies build and demonstrate nuclear reactor systems through a cost-sharing partnership model.
DOE said Thursday it will offer grants amounting to $160M under the Advanced Reactor Demonstration Program to support the creation of two reactors that have the potential to reach operational status within five to seven years.
The department also seeks to leverage resources from its laboratory network and the National Reactor Innovation Center in test and evaluation efforts.
DOE added the program offers three pathways for interested parties to develop and demonstrate reactor technology platforms.
“Advanced nuclear energy systems hold enormous potential to lower emissions, create new jobs, and build a strong economy,” said Dr. Rita Baranwal, assistant secretary for the DOE Office of Nuclear Energy.
“This new program creates a tremendous opportunity for the U.S. to provide clean energy and expand our market opportunities.”