US funding for Terrapower and X-energy
22 October 2020
The US Department of Energy (DOE) announced it has selected two teams to receive $160 million in initial funding under the new Advanced Reactor Demonstration Program (ARDP).
ARDP, announced in May, is designed to help domestic private industry demonstrate advanced nuclear reactors in the United States.
DOE is awarding TerraPower and X-energy $80 million each in initial funding to build two advanced nuclear reactors that can be operational within seven years. The awards are cost-shared partnerships with industry that will deliver two first-of-a-kind advanced reactors to be licensed for commercial operations. The Department will invest a total of $3.2 billion over seven years, subject to the availability of future appropriations, with our industry partners providing matching funds.
“The awards are the first step of a new programme that will strengthen American leadership in the next generation of nuclear technologies,” said Secretary of Energy Dan Brouillette. “These partnerships will help maximize DOE’s investment in advanced reactors, which play a vital role in our clean energy strategy.”
Both projects incorporate a range of design features that will not only enhance safety, but make them affordable to construct and operate, paving the way for the US to deploy highly competitive advanced reactors domestically and globally, DOE said.