Latest news with #BWRX-300
CNBC
3 days ago
- Business
- CNBC
Trump nuclear power orders could open small reactors in the U.S. by 2030, GE Vernova CEO says
President Donald Trump's executive orders on nuclear power could lead to the deployment of small modular reactors in the U.S. by late 2030, GE Vernova CEO Scott Strazik said Wednesday. Trump on Friday ordered the Nuclear Regulatory Commission to decide on applications to construct and operate new nuclear plants within 18 months. The order also calls for the NRC to "adopt shorter deadlines tailored to particular reactor types." The nuclear industry has long complained that the NRC's approval process takes too long. Trump's order could result in approvals to start building small modular reactors in the U.S. by 2027, Strazik told the research firm Bernstein in an interview. This would create a "credible shot" of adding these reactors to the U.S. nuclear fleet in late 2030 or 2031, the CEO said. Small modular reactors (SMRs) are plant designs that many in the industry view as the future of nuclear power. SMR developers including GE Vernova believe the reactors will one day lower the cost of building nuclear plants and speed up construction because they are smaller and assembled onsite with prefabricated parts. Large nuclear plants such as Plant Vogtle in Georgia have been plagued with multi-billion dollar cost overruns and lengthy construction delays. "It's just the beginning of what could very much become a very meaningful part of our business in the 2030s. We're very encouraged by this," Strazik said of Trump's executive order. GE Vernova received approval earlier this month to deploy its BWRX-300 reactor in Ontario, Canada. It will be the first SMR deployed in the West, according to the company. The Tennessee Valley Authority filed an application with the NRC earlier this month to build a GE Vernova reactor at Oak Ridge, Tenn. "We expect more customers to put in applications to construct new SMRs with our technology before the year is over," Strazik said. Customer interest in GE Vernova's SMR is "very high," with users increasingly willing to pay a premium for nuclear because it doesn't emit carbon dioxide, the CEO said. GE Vernova's core business is manufacturing and servicing natural gas-powered turbines, which is seeing high demand as electricity consumption grows in the U.S. The company's stock has soared nearly 48% this year.
Cision Canada
3 days ago
- Business
- Cision Canada
AtkinsRéalis signs new execution contract for Darlington Small Modular Reactor Project Français
MONTREAL, May 28, 2025 /CNW/ - Candu Energy Inc., an AtkinsRéalis company [AtkinsRéalis Group Inc.] (TSX: ATRL), has been awarded a $450 million execution contract by Ontario Power Generation (OPG), for the first of four planned small modular reactor (SMR) units at the Darlington New Nuclear Project. The 300-megawatt BWRX-300 small modular reactor being delivered for OPG in Durham Region, east of Toronto, will supply enough power for 300,000 homes. 1 AtkinsRéalis is providing OPG with expertise for the engineering of the SMR. This includes project management, licensing, engineering, design, procurement, construction support and commissioning, as well as digital delivery capabilities in both the nuclear island and balance of plant scopes for the project. "As a world-class engineering services and nuclear organization, we are advocates for the role of SMRs in the energy mix to create stable, affordable, and reliable power grids," said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "Our involvement in the G7's first grid-scale SMR and Canada's first nuclear new build in roughly 30 years reaffirms our leading position in the global nuclear energy market, for both large and small reactor technologies. Our trusted relationship with OPG supporting hydropower assets and refurbishing CANDU reactors at Darlington and Pickering will support this project's successful completion by 2030." AtkinsRéalis has been the architect-engineer on the Darlington New Nuclear Project alliance team since 2023. The Company is working alongside GE Vernova Hitachi Nuclear Energy and Aecon Kiewit Nuclear Partners. The site preparation work undertaken under an earlier validation phase contract has been completed on time and on budget. The Canadian Nuclear Safety Commission has issued a license to construct the SMR, and the Ontario government has also given its final approval for construction of the first of four planned units at the site. "AtkinsRéalis is a long-time trusted partner to OPG, including on the on-time, on budget Darlington Refurbishment Project," said Nicolle Butcher, OPG President and CEO. "We will draw on our shared experience for similar success as we build the first small modular reactor in the G7 at the Darlington New Nuclear Project site." "Ontario's power demand is expected to surge by 75% by 2050 2 and we'll need all sources of cleaner power to meet the need, including large and small nuclear reactor technology," said Joe St. Julian, President, Nuclear, AtkinsRéalis. "Together with our alliance partners, we will ensure Canada continues to lead the G7 in advancing the use of SMR technology, as AtkinsRéalis also continues to support international SMR projects in the UK, US, and Poland." About AtkinsRéalis Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at or follow us LinkedIn. About AtkinsRéalis' Nuclear Sector AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis' CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page. Forward-Looking Statements References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2024 annual management disclosure & analysis ("2024 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at and on the Company's website at under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2024 MD&A (particularly in the section entitled "Risk and Uncertainties"), as may be updated from time to time in the Company's interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
Yahoo
3 days ago
- Business
- Yahoo
AtkinsRéalis signs new execution contract for Darlington Small Modular Reactor Project
MONTREAL, May 28, 2025 /CNW/ - Candu Energy Inc., an AtkinsRéalis company [AtkinsRéalis Group Inc.] (TSX: ATRL), has been awarded a $450 million execution contract by Ontario Power Generation (OPG), for the first of four planned small modular reactor (SMR) units at the Darlington New Nuclear Project. The 300-megawatt BWRX-300 small modular reactor being delivered for OPG in Durham Region, east of Toronto, will supply enough power for 300,000 homes.1 AtkinsRéalis is providing OPG with expertise for the engineering of the SMR. This includes project management, licensing, engineering, design, procurement, construction support and commissioning, as well as digital delivery capabilities in both the nuclear island and balance of plant scopes for the project. "As a world-class engineering services and nuclear organization, we are advocates for the role of SMRs in the energy mix to create stable, affordable, and reliable power grids," said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "Our involvement in the G7's first grid-scale SMR and Canada's first nuclear new build in roughly 30 years reaffirms our leading position in the global nuclear energy market, for both large and small reactor technologies. Our trusted relationship with OPG supporting hydropower assets and refurbishing CANDU reactors at Darlington and Pickering will support this project's successful completion by 2030." AtkinsRéalis has been the architect-engineer on the Darlington New Nuclear Project alliance team since 2023. The Company is working alongside GE Vernova Hitachi Nuclear Energy and Aecon Kiewit Nuclear Partners. The site preparation work undertaken under an earlier validation phase contract has been completed on time and on budget. The Canadian Nuclear Safety Commission has issued a license to construct the SMR, and the Ontario government has also given its final approval for construction of the first of four planned units at the site. "AtkinsRéalis is a long-time trusted partner to OPG, including on the on-time, on budget Darlington Refurbishment Project," said Nicolle Butcher, OPG President and CEO. "We will draw on our shared experience for similar success as we build the first small modular reactor in the G7 at the Darlington New Nuclear Project site." "Ontario's power demand is expected to surge by 75% by 20502 and we'll need all sources of cleaner power to meet the need, including large and small nuclear reactor technology," said Joe St. Julian, President, Nuclear, AtkinsRéalis. "Together with our alliance partners, we will ensure Canada continues to lead the G7 in advancing the use of SMR technology, as AtkinsRéalis also continues to support international SMR projects in the UK, US, and Poland." About AtkinsRéalis Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at or follow us LinkedIn. About AtkinsRéalis' Nuclear Sector AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis' CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page. Forward-Looking Statements References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2024 annual management disclosure & analysis ("2024 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at and on the Company's website at under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2024 MD&A (particularly in the section entitled "Risk and Uncertainties"), as may be updated from time to time in the Company's interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. __________________ 1 Source: Ontario Ministry of Energy and Mines, 2 Source: Ontario Ministry of Energy and Mines, SOURCE AtkinsRéalis View original content to download multimedia:
Hindustan Times
23-05-2025
- Business
- Hindustan Times
‘Significant milestone': Tennessee Valley Authority becomes 1st US utility to apply for small nuclear reactor permit
The Tennessee Valley Authority (TVA), America's largest public power company, announced on Tuesday (May 20) that it has submitted a construction permit application to the US Nuclear Regulatory Commission to build a small nuclear reactor. The company plans on meeting the state's growing demand for electricity by introducing revolutionary nuclear power to the Clinch River Site at Oak Ridge, Tennessee. Don Moul, President and CEO of TVA believes that the company can lay a new developmental path for other utilities by harnessing the power of modular nuclear reactors to fuel carbon-free energy. 'This is a significant milestone for TVA, our region and our nation because we are accelerating the development of new nuclear technology, its supply chain and delivery model to unleash American energy," said Moul in a press release. 'TVA has put in the work to advance the design and develop the first application for the BWRX-300 technology, creating a path for other utilities who choose to build the same technology.' Considerably smaller in size compared to traditional power plants, small nuclear reactors are designed to produce about a fourth of the power created by conventional reactors but in a carbon-free manner. The TVA had announced its plans to collaborate with Bechtel, Sargent and Lundy and GE Hitachi way back in January which involved installing a unit at the only permissible site in the US to install a nuclear reactor- the Clinch River. The application has been filed for GE Vernova Hitachi Nuclear Energy's small modular reactor BWRX-300 technology. The move comes as part of the board's 2022 program to reduce the emission of greenhouse warming gases by using these reactors. Previously, electrical utilities have been skeptical of investing in the technology due to large-scale cost overruns and delays in projects. Georgia Power Co.'s Plant Vogtle and a project reviewed by the NRC have previously failed owing to similar reasons. The Biden administration had been supportive of this technology which reflected in its $900 million investment for such reactors last year. The current Trump administration also supports the bid to use this carbon-free, reliable power for sectors with more energy demands such as industry and data centers. Alex Formuzis, spokesperson for the non-profit Environmental Working Group has, however, stated that there is 'no bigger example of a money pit than the fantasy of small modular reactors' when it comes to conversations around long-term energy efficiency. The organization believes that investments should be centered towards proven cleaner energy sources such as solar or wind power rather than nuclear fission.
Yahoo
21-05-2025
- Business
- Yahoo
TVA is first US utility to apply for an SMR construction permit
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. The Tennessee Valley Authority on Tuesday became the first American utility to submit a small modular reactor construction permit application to the Nuclear Regulatory Commission. The application is a key step in TVA's plan to build a 300-MW SMR by 2032 at its 1,200-acre Clinch River Nuclear site in Tennessee. Non-nuclear construction could begin next January 'or sooner' as the NRC works through an expected two years of review and six months of public hearings, TVA spokesperson Scott Fiedler said in an email. TVA aims to begin nuclear construction at Clinch River in late 2028 and commission the new power plant by the end of 2032, 'subject to change based on regulatory approval and other factors,' it says. In a statement hailing 'a significant milestone for TVA, our region and our nation,' TVA President and CEO Don Moul said the application would accelerate 'the development of new nuclear technology, its supply chain and delivery model to unleash American energy.' TVA says it will be the first U.S. utility to deploy GE Hitachi's BWRX-300 boiling water SMR. The design borrows from larger boiling water reactors developed by GE since the 1960s, but occupies a significantly smaller footprint and incorporates passive safety features that nuclear experts say reduce the risk of safety events. Advanced nuclear reactors like the BWRX-300 will help power producers deliver the energy needed to support artificial intelligence, quantum computing and advanced manufacturing industries, TVA said in a news release announcing the application. In 2023, TVA said it would form a working group with GE Hitachi, Ontario Power Generation and Synthos Green Energy to develop a standard design for the BWRX-300 and its modular components. The $400 million effort aimed to ready the reactor for deployment in the U.S., Canada, Poland and other countries, TVA said. 'TVA has put in the work to advance the design and develop the first application for the BWRX-300 technology, creating a path for other utilities who choose to build the same technology,' Moul said. In April, the Canadian Nuclear Safety Commission approved an Ontario Power Generation application to build the first of four BWRX-300 reactors at its Darlington nuclear power plant site. OPG hopes to begin construction later this year and commission the first reactor in 2029. In its 2025 draft integrated resource plan, TVA proposed adding up to 1 GW of nuclear capacity by 2035. That would be a small share of a new generation mix dominated by solar (up to 20 GW), gas (up to 19 GW) and energy storage (up to 6 GW). But TVA appears committed to ensuring nuclear remains part of its energy mix in the future. '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,' Moul said last month, as TVA announced its application for a $800 million DOE grant to offset some of the Clinch River project's costs. The years-long federal permitting process for new reactors is a check on TVA's — and other reactor sponsors' — near-term nuclear ambitions. The NRC review of TVA's construction permit application could stretch into 2028, based on NRC's generic schedule. If NRC issues the construction permit, TVA could begin building the reactor complex while seeking a separate operating license that NRC says can take up to 36 months to review. A final decision on the operating license might not come until 2031 or early 2032, not far off from TVA's December 2032 target to power up the reactor. The BWRX-300 does have a significant advantage over some competing advanced reactor designs: It uses the same low-enriched uranium fuel as the other 94 reactors in the U.S. commercial fleet. That means it can tap into an established, global supply chain for the material. SMRs under development by X-energy, Oklo and other emerging nuclear technology companies require high-assay, low-enriched uranium, or HALEU, which is much scarcer. The U.S. is investing billions to develop a domestic HALEU supply chain to counter a self-imposed ban on Russian HALEU imports that takes effect in 2028. But substantial domestic, private-sector supplies remain years off. Recommended Reading Santee Cooper wants to sell its unfinished reactors. What happens next?
