The US Department of Energy (DOE) has selected the Tennessee Valley Authority (TVA) and Holtec International to each receive USD 400 million in federal cost-shared funding to support the early deployment of advanced light-water small modular reactors (SMRs) in the United States.
This funding represents a major step in the Biden administration’s effort to accelerate the adoption of Generation III+ SMR technologies, which offer a smaller, factory-fabricated, and highly efficient alternative to traditional large-scale nuclear reactors. The DOE’s support is intended to help both TVA and Holtec overcome the early financial and technical barriers associated with deploying these next-generation reactors, while also strengthening domestic supply chains and advancing US energy security.
The TVA funding will accelerate the development of the Clinch River site in East Tennessee, where a GE Hitachi BWRX-300 SMR is planned, positioning it as a national model for safe, affordable, and efficient SMR deployment. Holtec’s funding will advance its SMR-300 project at the Palisades Nuclear Generating Station in Michigan, demonstrating a scalable, repeatable model for fleet deployment of SMRs both domestically and internationally.
Together, these awards—part of an USD 800 million Tier 1 program—signal the DOE’s commitment to building a next-generation nuclear infrastructure capable of providing reliable, low-carbon, round-the-clock electricity for the nation’s growing energy and industrial needs.