Energy department awards $800 million in funding for small-scale nuclear reactors
Major Funding Boost for Nuclear Energy Projects
The Trump administration has granted substantial financial support to two additional nuclear energy firms.
Both the Tennessee Valley Authority (TVA) and Holtec are set to receive $400 million each from the Department of Energy. This funding will be used to construct small modular reactors utilizing established nuclear fission methods.
New Reactor Developments in Tennessee and Michigan
TVA plans to install a 300-megawatt reactor from GE Vernova Hitachi in Tennessee. Meanwhile, Holtec will construct two 300-megawatt reactors in Michigan.
Growing Interest from the Tech Sector
As technology companies pursue greater artificial intelligence capabilities, their energy needs have surged, leading to increased interest in nuclear power solutions.
Advancements in Reactor Technology
The planned reactors are classified as Generation III+ models—modernized versions of long-standing nuclear designs. By reducing their size to small modular units, the industry aims to lower expenses through mass production and streamlined construction processes.
However, the World Nuclear Association notes that, so far, only two small modular reactors are currently in operation worldwide.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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