NuScale and Rolls Royce Jumpstart Mini Nuclear Power Revolution

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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The development of small nuclear reactor (SMR) technology has gotten off to a rapid start in 2017 as NuScale Power LLC (Portland, Oregon) and Rolls Royce (LSE:RR.L) (London, England) advanced their respective strategies on different sides of the Atlantic Ocean.

In the U.S., leading SMR proponent NuScale became the first to formally submit its design certification application to the U.S. Nuclear Regulatory Commission (NRC) for its 50-megawatt (MW) SMR commercial power plant design. The evaluation period will take slightly more than three years. NuScale is the only SMR company currently receiving financial backing from the U.S. Department of Energy (DoE) and it has also announced plans to enter the U.K. competition for SMR technology. The company is majority owned by Fluor Corporation (NYSE:FLR) (Irving, Texas).

"Fluor continues to be proud of its investment in NuScale and how the company has rapidly moved through the design certification application process, and we are eagerly awaiting NRC review and approval," said David Seaton, Fluor's chairman and CEO. "We believe that the future of the U.S. nuclear industry is in small modular reactor technology and that NuScale is uniquely positioned as the only U.S. company that offers it."

NuScale believes that SMR technology could be rolled out in the U.K. by 2025. For additional information, see January 28, 2016, article - U.K. Could Have First Mini Nuclear Plant by 2025.

In the U.K., Rolls Royce has announced its partners to bring SMR technology to the U.K, including AMEC Foster Wheeler PLC (NYSE:AMFW) (London), Nuvia Limited (Warrington, England), Arup Group Limited (London) and the Nuclear Advanced Manufacturing Research Centre.

Speaking to the media, a spokesperson for Rolls Royce said: "We are working with some of Britain's most experienced civil engineering companies and nuclear research organisations to realise the huge potential of small modular reactors for the wider U.K. economy. We share a common belief that a home-grown SMR programme can play a key role in strengthening the U.K.'s energy mix and security, while creating valuable intellectual property, exports and jobs."

Last year, Industrial Info reported that the U.K. government had launched a competition to find a partner to introduce mini nuclear reactors to the U.K. electricity market. Others, including Bechtel Corporation (San Francisco, California) and Westinghouse Electric Company LLC (Monroeville, Pennsylvania), are expected to join the race. For additional information, see March 30, 2016, article--U.K. Opens Competition for Mini Nuclear Power Plants.

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