Pittsburgh, March 23, 2012 – Westinghouse affirmed that it will apply to the Department of Energy in response to the final funding opportunity announcement for investment funds worth up to $452 million.
The fund was authorized by Congress to facilitate the rapid development and deployment of small modular reactor technologies.
The DOE plans to consider SMR applications that incorporate passive safety features and that can be licensed expeditiously, achieving a commercial operation date on a domestic site by 2022. The final FOA was issued by the DOE March 22.
The SMR technology represents the future in nuclear energy technology and will offer affordable, safe and secure sources of zero-carbon energy.
Small modular reactors can replace or repower aging fossil plants, or complement existing industrial processes or power plants with an energy source that does not emit greenhouse gases.
Additionally, the Westinghouse SMR can be coupled with other energy sources, including renewables and fossil energy, to leverage resources and produce higher efficiencies and multiple energy end products while increasing grid stability and security.
The Westinghouse SMR builds upon the advances in technology achieved in the Westinghouse AP1000 reactor design. The Westinghouse SMR is a 225 MWe, integral pressurized water reactor, with all the primary components located inside the reactor vessel.