Holtec Committed to Developing SMR Without DOE Funding

After the Department of Energy selected another company this week to receive funding to help commercialize small modular reactors, Holtec International reaffirmed it will continue to develop its 160 megawatt SMR.

NuScale beat out Holtec, Westinghouse and other companies for as much as $226 million from the DOE, while Babcock & Wilcox won the first round of matching funds last year. Nonetheless, Holtec announced it remains committed to developing its SMR-160 design. Holtec's partners, PSEG and South Carolina Electric & Gas, also stated their participation would continue.

In a release, Holtec CEO Kris Singh said, “Holtec’s proposal to the Department of Energy included the offer to refund all federal grant funding if we failed to license our reactor for commercial use. While we are surprised that our proposal was not selected, Holtec is willing, ready and prepared to achieve success without federal funding and our team will redouble its efforts to achieve an NRC license on an expeditious schedule. We have a 30-year track record of developing and commercializing successful nuclear technologies used in dozens of countries around the world. Our wholly owned, world-class nuclear manufacturing installations in Pittsburgh and Ohio have delivered over $2 billion worth of nuclear hardware in the past decade, and are poised to serve as the global citadel of SMR manufacturing in the next decade."

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  • Anonymous

    I believe in Mr. Singh's visionary intuition and determination in light of the past track records. Humbly, I would recommend that Holtec International place priority on SMRs Supply-Chain line of business model optimizing the hardware manufacturing capability. I trust that this is the area that both domestic and foreign SMR vendors need helping hands in the near future.