Fluor’s NuScale Power and U.S. Department of Energy Agree on Funding for Advanced Nuclear Small Modular Reactor Technology

IRVING, Texas, May 28, 2014 (BUSINESS WIRE) -- Fluor Corporation  announced today that NuScale Power, in which Fluor is the majority investor, officially signed a contract agreement with the U.S. Department of Energy (DOE) for funding that will support the development, licensing and commercialization of the company’s nuclear small modular reactor (SMR) technology.

The DOE would provide up to $217 million in matching funds over five years to help the Oregon-based nuclear power company develop its SMR design, which is set to revolutionize the next generation of nuclear power plants. The reactor technology can deliver the energy diversity needed to replace aging coal plants, to power growing populations and to reduce emissions, all while proving to be a safer, more flexible and cost-effective nuclear power solution
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