TVA reapplies for $800M grant to ‘accelerate' construction of Small Modular Reactor
The reapplication comes after the U.S. Department of Energy updated grant criteria for the original $800M grant the TVA applied for in January, which was created and appropriated by Congress in 2024. The TVA said the DOE asked applicants to reapply after the criteria were updated.
Company awarded grant to build centrifuge facility in Oak Ridge
Since 2023, the TVA has been working with working with GE Hitachi, Ontario Power Generation and Synthos Green Energy to develop the standard design for the BWRX-300 SMR. In January, the TVA and its partners announced that they were entering the planning phase for the initial construction and design of the SMR for the TVA' Clinch River Nuclear Site.
The TVA said it has completed the Environmental Review for the Clinch River project and has sent a notification of intent to submit a Construction Permit Application to the Nuclear Regulatory Commission. The TVA is hoping to submit the application by this summer, and earlier this month, it submitted an application for a separate DOE grant for $8 million in support of the NRC license review costs, the TVA said.
According to the TVA, preliminary site preparation for the Small Modular Reactor could begin as soon as 2026.
'We are facing a historic moment that could decide our nation's energy security for decades to come and the world is looking for American leadership,' said Don Moul, TVA President and CEO. 'This is not about building an SMR. We are working to develop a technology, a supply chain, a delivery model and an industry that will unleash American energy.'
'A design anchored in reality' Knoxville company one step closer to creating fusion power plant
In January, the TVA released a document that said the nominal energy output for the BWRX-300 SMR would be 300 Megawatts of electrical capacity. Based on an explanation of the U.S. Energy Information Administration, if the reactor were able to operate at full capacity for every hour of every day for 365 days, the SMR could produce up to 2,628,000 megawatt hours of electricity per year.
In Tennessee, the advanced energy industry accounts for more than 400,000 jobs and is growing faster than the state's overall economy, one report from 2024 states. The report added that in 2022, advanced energy added $56 billion to Tennessee's GDP during 2022.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Los Angeles Times
20 minutes ago
- Los Angeles Times
Tariff ‘Mission Accomplished' hype is just that
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Yahoo
38 minutes ago
- Yahoo
Jerome Powell's job just got a whole lot easier as inflation data sidesteps disaster
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Don't count your cuts While Powell has been fending off criticism from the White House, analysts are warning against baking in further and significant cuts for the remainder of the year. The FOMC have their next meeting in September, followed by two more in October and December, and one member, Michelle Bowman, has already confirmed she would be open to such a trajectory. Indeed, UBS's Ulrike Hoffmann-Burchardi, CIO Americas and global head of equities, wrote in a note to clients: 'With overall inflation likely under control amid a slowing economy, our base case remains that the Fed will resume rate cuts at the September meeting and continue cutting for a total of 100bps.' Indeed, CME's FedWatch shows more than 94% of the market expect a cut at the next meeting. But analysts are wary to be overly confident beyond the next meeting. Elyse Ausenbaugh, head of investment strategy at J.P. Morgan Wealth Management, wrote in a note to clients that while she was still expecting a 0.5% cut in rates by the end of the year, 'It seems fair to say that the Fed could be considering a move in September, but I don't think a cut at that meeting is as much of a given as market pricing is implying. We will get plenty of data between now and then that could give the Fed pause one more time before taking action in the fourth quarter.' Michael Pearce, deputy chief U.S. economist at Oxford Economics, wrote in a note to Fortune that the details of the CPI report don't even guarantee a September cut. 'The larger rise in core prices in July provides mixed evidence around the tariff boost to inflation. For the Federal Reserve, inflation is much further from its target than the unemployment rate, which is why we expect them to hold off rate cuts another few months. However, another weak set of jobs data in August would force their hand early,' Pearce wrote. 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Hypebeast
an hour ago
- Hypebeast
Nike Sues Edison Chen For $126 Million USD
CLOTfounderEdison Chenis being sued by former partnerNikefor breach of contract, demanding a sum of more than $126 million USD. Multiple sources, including@SneakerLegalhave shared the information, including the case number (2:25-cv-07447), cause (28:1332 Diversity-Breach of Contract), and the demand of $126,615,000. Other than these details, still little is known about the specific violations and events that led to the escalation. The lawsuit has emerged more than a year after Chen terminated his collaborations with the American sneaker label and began releasing products with adidas, like the CLOT Silk Gazelle and the CLOTAnthony EdwardsAE-1. For years, the CLOT designer worked closely with Nike on various models before partnering with the Three Stripes brand in 2023. In 2004, Chen founded CLOT in Hong Kong and began partnering with Nike in 2006. The brand still maintains special popularity in the Asia Pacific region for its exploration of Eastern heritage and aesthetics, but has become increasingly global thanks to partnerships with sportswear titans. As the brand charges forth with a new CEO at the helm, it seems that it's become more vigilant of its brand universe than ever, targeting direct collaborators like Chen and even designers outside of their direct sphere, likethe Shoe Surgeon. Nike's move to sue Chen comes right after the brand finally settled with the famous custom-sneaker designer, a de-escalation from the $60 million originally demanded. Stay tuned to Hypebeast as more details emerge on the case.
