NuScale Power received a federal government funding round of up to $226 million to develop small modular reactor technology.
NuScale collected the full second round of the U.S. Department of Energy’s small modular reactor program funds. The DOE grant calls for NuScale to provide matching money and lasts for five years.
“We’re super-excited: This is a huge day for us and a huge day for Oregon,” said Mike McGough, NuScale’s chief commercial officer. McGough said the company will look to its majority investor Fluor Corp. as well as a few select investment options to raise its share.
Read more at Sustainable Business Oregon.