The US Department of Energy (DOE) has committed $900 million to advance the development and deployment of Generation III+ small modular reactor (SMR) technologies. This funding, part of the Consolidated Appropriations Act of 2024 and President Biden’s Bipartisan Infrastructure Law, is aimed at accelerating the domestic nuclear industry and supporting national climate goals.
The funding is divided into two categories. Tier 1, managed by the Office of Clean Energy Demonstrations (OCED), allocates up to $800 million to assist two pioneering teams in deploying their first SMR plants, in collaboration with the National Nuclear Security Administration (NNSA). Tier 2, overseen by the Office of Nuclear Energy (NE), allocates $100 million to address industry challenges like design, licensing, and supplier development.
The investment aims to promote the safe deployment of Gen III+ SMRs, which offer scalability and versatility for applications including power generation, process heat, and desalination. SMRs are expected to play a critical role in achieving the US goal of adding 700GW to 900GW of clean power generation capacity by 2050.
US Secretary of Energy Jennifer Granholm highlighted the importance of revitalizing the nuclear sector to provide carbon-free energy, create jobs, and meet the growing energy demands of sectors like AI, data centres, manufacturing, and healthcare.