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Centrus and GLE have welcomed the USD700 million support package to develop high-assay low-enriched uranium included in the US Inflation Reduction Act to develop the infrastructure needed to fuel next generation of nuclear reactors.
The US Department of Energy awarded USD40 million in funds for the six-year project to complete the basic design of the high-temperature gas-cooled reactor, which it says is instrumental in paving a path towards X-energy's multi-billion-dollar demonstration project and the USA's first commercial facility to produce high-assay low-enriched uranium-based fuel for next-generation reactors.
Centrus and GLE have welcomed the USD700 million support package to develop high-assay low-enriched uranium included in the US Inflation Reduction Act to develop the infrastructure needed to fuel next generation of nuclear reactors.
SK Inc and SK Innovation - both affiliates of SK Group, Korea's second-largest conglomerate - have invested USD250 million in US nuclear innovation company TerraPower. The investment by SK is part of the latest private capital fundraise, which has raised at least USD750 million of investment in TerraPower.
By leveraging new technologies and innovation through appropriate federal trade support, the United States can ensure that its nuclear reactor designs are a critical part of the world’s energy mix.