Italy poised to decide whether to block Lukoil refinery sale, Oil prices settle down, post big weekly losses on bank fears, Equinor sees "a lot of interest" in long-term gas deals, CEO says, Warren Buffett's Berkshire Hathaway rejects call for silence on hot-button issues, Boeing signs deal with U.S. army to build 184 AH-64E Apache helicopters, Low dissolved oxygen levels behind mass fish death in Australian river, Goldman Sachs loses around $200 mln in market upheaval following SVB collapse - FT, Bed Bath & Beyond announces reverse stock split plan, shares drop. The first small modular nuclear reactor has been approved for use in the US Thread startermidian182 Start dateJan 23, 2023 midian182 Posts: 8,576 +106 Staff member Jan 23, 2023 #1 What just. This material may not be published, broadcast, rewritten, In theory this could be offset through mass manufacture, but only if companies receive orders in the hundreds. Development and revisions of policies regarding the review of small modular reactor technologies. NuScales first scheduled project is with Utah Associated Municipal Power Systems (UAMPS), a state-based organization that supplies wholesale electricity to small, community-owned utilities in surrounding states. NuScale said this month that the target price for power from the plant is $89 per megawatt hour, up 53% from the previous estimate of $58 per MWh. In recent years though, a crop of new companies have emerged promising to sidestep many of these concerns by shrinking reactors down. Then theres also the Global X Uranium ETF (URA), a targeted play on uranium mining. The U.S. Nuclear Regulatory Commission (NRC) recently issued its final safety evaluation report on NuScale Power's small modular reactor (SMR) design. The U.S. Energy Department said it provided more than $600 million since 2014 to support the design, licensing and siting of NuScale's VOYGR small modular reactor power plant and other domestic . Agreements for some of the power are in place, although a few municipalities have already walked away because of price concerns. But questions have been raised about whether SMRs will really live up to their billing as a cheaper, safer alternative to traditional nuclear power plants. NRC approval means the SMR is now the seventh reactor design cleared for use in the United States. Page Last Reviewed/Updated Monday, September 19, 2022. A high-temperature, gas-cooled reactor began operating in 2021. "We are thrilled to announce the historic rulemaking from the Nuclear Regulatory Commission for NuScales small modular reactor design, and we thank the Department of Energy (DOE) for their support throughout this process," NuScale Power President and Chief Executive Officer John Hopkins said in a statement. All quotes delayed a minimum of 15 minutes. The U.S. Nuclear Regulatory Commission certified a design for an advanced small modular reactor (SMR) for the first time. Others have until September 30 to exit the project. About 1/10 to 1/4 the size of a traditional nuclear energy plant, SMRs feature compact, simplified designs with advanced safety features. Assistant Secretary for Nuclear Energy Kathryn Huff said small modular reactors are no longer an abstract concept. While some SMRs under development rely on exotic new designs that use molten uranium or thorium salts as a fuel, the NuScale reactor, which has been named VOYGR, is not dramatically different from traditional full-scale ones. Small modular reactors: flexible and affordable power generation Global interest in small and medium sized or modular reactors has been increasing due to their ability to meet the need for flexible power generation for a wider range of users and applications and replace ageing fossil fuel-fired power plants. Our Standards: The Thomson Reuters Trust Principles. The U.S. Nuclear Regulatory Commission on Friday approved Portland-based NuScale Power's application for the small modular reactor that Utah Associated Municipal Power Systems plans to build at a U.S. Department of Energy site in eastern Idaho. Diane Hughes, NuScale's vice president of marketing and communications, said the design certification is a historic step forward toward a clean energy future and makes the company's VOYGR power plant a near-term deployable solution for customers. Knowledge awaits. The Nuclear Regulatory Commission approved the design, which was published Thursday in the Federal Register, from NuScale, an Oregon-based reactor company. Concerns about costs and safety remain, however. Defined by the International Atomic Energy Agency as a reactor that produces . Ozone Pollution Grows, but It Can Be Fixed, Radical Proposal Would Prop Up Coal Power Industry. The US Nuclear Regulatory Commission has formally approved a small modular reactor design from NuScale. You can use ETFs to tap into the nuclear energy sector, too. The small reactors can produce about 60 megawatts of energy, or enough to power more than 50,000 homes. This is a significant milestone not only for NuScale, but also for the entire U.S. nuclear sector, said NuScale chairman and CEO John Hopkins in a press release. Julia Musto is a reporter for Fox News and Fox Business Digital. I am sorry to say that what lies ahead is risky and expensive, Ramana said. That knocks the price down to $1,500 from $2,300, which is 35% off. A small modular nuclear reactor just got US approval a big milestone Modular reactor pioneer NuScale finally got one of its designs certified by the Nuclear Regulatory Commission, but the company is still years away from a deployment. Global interest in small and medium sized or modular reactors has been increasing due to their ability to meet the need for flexible power generation for a wider range of users and applications and replace ageing fossil fuel-fired power plants. NuScales VOYGR power plant remains a cost competitive source of reliable, affordable and carbon-free energy, she added. The U.S. Energy Department said it provided more than $600 million since 2014 to support the design, licensing and siting of NuScales VOYGR small modular reactor power plant and other domestic small reactor concepts. 24/7 coverage of breaking news and live events. Earlier this week, Georgia Power announced that its Vogtle Unit 3 reactor has safely reached 'initial criticality. In 2020, it became the first company to have its small modular reactor design approved by the Nuclear Regulatory Commission. Artist rendition of NuScale Power nuclear power plant. Signage stands outside the U.S. Department of Energy (DOE) headquarters in Washington, D.C., U.S, on Friday, Feb. 14, 2020. The rule becomes effective in late February. This is then used to drive a turbine that generates electricity. You've successfully subscribed to this newsletter! NuScale has signed memorandums of understanding with companies and utilities in the U.S., Canada, Jordan, Romania, Ukraine and other countries. The heated water then rises up towards steam generators, which use the heat from the water to produce superheated steam. The design, from the Portland, Ore.-based company. or redistributed. So-called small modular reactors (SMRs) are designed to be small enough to build in a factory before being shipped to wherever theyre needed, which should significantly reduce costs. The United States' first small modular nuclear reactor (SMR) should be operational by the end of this decade. The use of small modular reactors would be an excellent, cost-effective way to recharge electric heavy-duty vehicles (HDVs), such as trucks, according to a recent study published in Applied Energy. And because ETFs trade on major exchanges, its very convenient for investors to buy and sell them. The U.S. Nuclear Regulatory Commission, or NRC, approved the first of these smaller reactor designs for power generation, a 50 MW concept from NuScale Power, on Jan. 19 of this year. Since the stock trades at around $10.10 today, the price target implies a potential upside of 78%. The technology has some powerful boosters though, not least President Joe Biden, who recently touted NuScales groundbreaking American technology while announcing a grant for an SMR plant the company will build in Romania. President Joe Biden's administration and Republican lawmakers have backed SMRs, saying they are important in helping to address climate change as the plants offer an alternative to greenhouse-gas-producing fossil fuels. DOE is proud to support the licensing and development of NuScales Power Module and other SMR technologies that have the potential to bring clean and reliable power to areas never thought possible by nuclear reactors in the U.S., and soon the world.. Mutual Fund and ETF data provided by Refinitiv Lipper. The country's nuclear power regulator has just certified the design for NuScale Power Corp's SMR, marking a significant step toward developing these next-generation power plants, which some say could be used to sustainably power data centers. NuScale Power's request was based on the NuScale small modular reactor design meeting the underlying purpose of the regulation through means not anticipated when the NRC issued GDC 52 and appendix J to 10 CFR part 50. . The U.S. Nuclear Regulatory Commission certified a design for an advanced small modular reactor (SMR) for the first time. The NuScale Power logo is seen displayed on a smartphone, Oct. 5, 2022. "SMRs are no longer an abstract concept," said Kathryn Huff, assistant secretary for nuclear energy at the Energy Department. (Photographer: Andrew Harrer/Bloomberg via Getty Images). He said he thinks they're not competitive in price with renewables and battery storage. NuScale says the six-reactor, 462 megawatt Carbon Free Power Project will be fully running in 2030. According to the International Atomic Energy Agency, dozens of SMR designs are under consideration around the world, and several are in advanced stages of construction in Argentina, China and Russia. A microreactor of up to 5 MWe could be operational there as soon as 2027, according to Eielson. Just in the past five years, he noted, cost estimates from various sources for the UAMPS project have risen from approximately $3 billion to more than $6 billion. Cameco operates uranium mines in Canada, the U.S., and Kazakhstan. Small modular reactors are envisioned to . Copyright Singularity Group. "SMRs are no longer an. ', Bidens one-size-fits-all plan to protect renters comes 'at the expense' of mom-and-pop landlords what to do if you still want to slice up a piece of the real estate pie, 'Hold onto your money': Jeff Bezos issued a financial warning, says you might want to rethink buying a 'new automobile, refrigerator, or whatever' here are 3 better recession-proof buys, Rich young Americans have lost confidence in the stock market and are betting on these 3 assets instead. Create your free account or Sign in to continue. Legal Statement. The U.S. Nuclear Regulatory Commission, or NRC, approved the first of these smaller reactor designs for power generation, a 50 MW concept from NuScale Power, on Jan. 19 of this year. The company plans to build a demonstration small modular reactor (SMR) power plant at the Idaho National Laboratory. The Energy Department has provided more than $600 million since 2014 to support the design, licensing and siting of NuScales VOYGR SMR power plant and other domestic SMR concepts. The U.S. Nuclear Regulatory Commission (NRC) has approved the design of a new kind of reactor, known as a small modular reactor (SMR). Brandon Vigliarolo. Together with large, traditional reactors and other advanced reactors, SMRs are expanding the nuclear energy . Secretary Jennifer Granholm hosts a Department of Energy news conference in Washington, D.C., Dec. 13, 2022. The Nuclear Regulatory Commission's approval, published in the Federal Register late on Thursday, clears a hurdle for NuScale. Plans for a luxury RV park in Pittsylvania County were voted down by the board of supervisors there in November. In 2021, construction of the ACP100 was started at the Changjiang Nuclear Power Plant site in Hainan province. NuScale Power (SMR) develops small modular nuclear power reactors for power generation. Small Modular Reactors (LWR designs) The NRC refers to light water reactor (LWR) designs generating 300 MWe or less as small modular reactors (SMRs). The U.S. Energy Department said the newly approved design equips the nation with a new clean power source to help drive down" planet-warming greenhouse gas emissions. But some experts have expressed concerns over the potential expense and remaining safety issues that the industry would have to address before any such reactors are actually built. There are about 50 SMR designs and concepts globally. But Lee Vogler, a councilman in neighboring Danville, didn't want to see the project leave the region just because the county didn't want it. Each power module leverages natural processes to passively cool the reactor without additional water, power or operator action. Also, by using smaller amounts of fuel, the total amount of heat produced is greatly reduced. It currently has 47 holdings. NuScale Power (SMR) develops small modular nuclear power reactors for power generation. Upon reaching a decision to move forward with the Carbon Free Power Project, UAMPS and its members will continue characterizing its preferred site and will initiate the development of a Combined License Application for review by the NRC. Get the latest news from Singularity Hub! The U.S. Nuclear Regulatory Commission (NRC) has awarded approval to nuclear leader NuScale for its small, modular reactor design. Vogler said he contacted project developer Joe Cubas the morning after the county's . Chief among them are cost and flexibility of construction: Traditional reactors are massive infrastructure projects that often take decades to build and can get mired in ballooning costs, which makes the energy more expensive in the short term than sources like natural gas and renewables. Following approval by the Nuclear Regulatory Commission (NRC), NuScale plans to build an SMR plant at the Idaho National Laboratory. Tellingly, some utilities have already backed out of NuScales first project over cost concerns. Projects arent expected to come online until the end of the decade, by which time the IPCC says we already need to have made drastic emissions reductions. NEW CRP: Challenges, Gaps and Opportunities for Managing Spent Fuel from Small Modular Reactors (T13021), Japan, Czech Republic Latest Countries to Join Forum Dedicated to Safe and Secure Deployment of SMRs, Vienna International Centre, PO Box 100 The hope is that these extra safety featurescombined with reduced costs due to the ability to mass-manufacture these reactors in a factory rather than on-sitecould lead to a renaissance in nuclear power. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. . Roughly 40 serious concepts are in development for the next generation of advanced nuclear reactors worldwide. However, David Schlissel at the Ohio-based Institute for Energy Economics and Financial Analysis expressed concerns about the costs. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. You can think of an ETF as a portfolio of stocks. Lyman says that in general, the NRCs design certification process should reduce uncertainty for utilities aiming to build nuclear plants because they can reference a completed safety review. The NRC is preparing a rulemaking to certify the NuScale SMR design. TechSpot is about to celebrate its 25th anniversary. The regulator is also reviewing the nations first boiling water SMR design developed by GE-Hitachi. In addition to the Carbon Free Power Project, NuScale has signed agreements with entities in Canada, Romania, the Czech Republic, and Jordan to build future plants. The NRC accepted NuScales SMR design certification application in March 2017. This key safety feature could lead to a reduction in the emergency planning zone to the site boundarysignificantly reducing the footprint of the power plant. Will the Earth 'Remember' the Coronavirus Pandemic? Published Aug. 1, 2022 Larry Pearl Senior Editor published Thursday in the Federal Register, ballooning costs associated with other traditional nuclear projects. The first module is expected to be operational by 2029. Once certified, the SMR will join six other light water reactor designs cleared by the NRC. A customer could also order and combine various numbers of units, making a wide range of capacity possible. While any nuclear reactor will raise concerns among the general public, these plants are said to pose far less risk than traditional facilities due to their scale, simple design, and the inherent safety characteristics of the reactor. Explore our digital archive back to 1845, including articles by more than 150 Nobel Prize winners. They Got Married in a Taco Bell in the Metaverse. Explainer: How does Norway export its natural gas? See here for a complete list of exchanges and delays. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Continue reading with a Scientific American subscription. Schlissel, who has studied the history of the nuclear power industry and the finances of the NuScale project, expects they will continue to go up, which could limit how many NuScale reactors are built. The US Nuclear Regulatory Commission recently announced its approval of the designs for a first-of-its-kind small modular reactor (SMR). Upon receiving full certification, utilities will be able to reference the design when applying for a combined license to build and operate the new reactors in the United States. My main areas of interest are engineering, computing and biology, with a particular focus on the intersections between the three. These reactors will be built offsite and installed onsite. You can score the 75-inch Samsung Q70A QLED 4K TV for a whopping $800 off. The business started out as a university research project in 2002. The milestone is the direct result of more than $400 millionin funding by the U.S. Department of Energy (DOE) since 2014 to accelerate the development and deployment of SMRs. (Photographer: Andrew Harrer/Bloomberg via Getty Images), Scientists produce energy through nuclear fusion advancement. Nuclear advocates hope SMRs will be a turning point for nuclear power, which faces an uncertain future due to high costs and safety concerns. But he thinks the NuScale approval undermines that advantage. The SDA application was submitted in a number of transmittals between the period of November 23, 2022, and December 31, 2022. Small modular reactors, deployable either as single or multi-module plant, offer the possibility to combine nuclear with alternative energy sources, including renewables. They are also designed to be much safer than existing reactors. Each module is designed to generate 50 megawatts of energy, but the company plans to combine up to 12 SMRs to achieve similar outputs to conventional nuclear plants. The U.S. has just given the green light to its first-ever small modular nuclear design, a promising step forward for a power source that remains controversial among some climate advocates but is experiencing a popular renaissance. TECHSPOT : Tech Enthusiasts, Power Users, Gamers, About Us Ethics Statement Terms & Privacy Policy. The business started out as a university research project in 2002. The U.S. Energy Department said it provided more than $600 million since 2014 to support the design, licensing and siting of NuScale's VOYGR small modular reactor power plant and other domestic . Google advises Android users to take action after finding 18 zero-day vulnerabilities Nvidia RTX 4070 predicted to have $749 MSRP, AIB models closer to $799, This default Windows setting can restrict gaming performance by up to 10%. Revision 3, are documented in the topical report final safety evaluation report issued on October 24, 2019. In 2020, it became the first company to have its small modular reactor design approved by the Nuclear Regulatory Commission. US Air Force confirms site for first microreactor 26 October 2021 Share The US Air Force has confirmed the Eielson base in Alaska as the facility planned to host its first small nuclear power plant. Opponents have cited the unresolved issue of disposing nuclear waste, as well as the significant price tag and time involved in building any nuclear plant, compared with renewable energy sources. SMRs typically generate 300500 megawatts (MW) of electric power, though some produce less than 100MW. Join thousands of tech enthusiasts and participate. 1,500 from $ 2,300, which use the heat from the water to produce superheated steam for power generation certified. Lies ahead is risky and expensive, Ramana said in 2021 secretary for Nuclear Kathryn. Costs associated with other traditional small modular reactor approved energy sector, too, simplified designs with advanced features! Company plans to build an SMR plant at the Idaho National Laboratory have already walked away because of concerns! With other traditional Nuclear projects U.S. Nuclear Regulatory Commission certified a design for an advanced small modular reactor ( ). 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