On June 17, 2024, the U.S. Department of Energy (DOE) issued a Notice of Intent to fund up to $900 million to support the initial U.S. deployments of Generation III+ (Gen III+) Small Modular Reactor (SMR) technologies. On October 16, 2024, OCED opened applications for the funding, with applications due January 17, 2025 by 5 p.m. ET. The funding will be used to spur the first Gen III+ SMR deployments in the U.S. and encourage fast follow-on reactor projects, ultimately establishing a credible and sustainable pathway to deploying a fleet of Gen III+ SMRs across the country.
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