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News Breaks
February 20, 2013
13:02 EDTBWCBabcock & Wilcox, TVA sign contract for Clinch River mPower construction permit
Babcock & Wilcox announced that its subsidiary, Babcock & Wilcox mPower and the Tennessee Valley Authority have signed a contract to prepare and support Nuclear Regulatory Commission review of a Construction Permit Application for a B&W mPower small modular reactor nuclear plant at TVA's Clinch River Site in Oak Ridge, Tenn. This contract formalizes the first steps toward the anticipated B&W mPower deployment at Clinch River, as contemplated in TVA's May 2011 Letter of Intent to B&W for the project. It also represents the first definitive milestone in the U.S. Department of Energy's recently initiated SMR Licensing Technical Support Program for commercial demonstration of SMRs by 2022.
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April 14, 2014
08:40 EDTBWCB&W announces restructuring of Small Modular Reactor program
Babcock & Wilcox is announcing plans to restructure its mPower Small Modular Reactor program to focus on technology development. B&W continues to believe in the strength of the mPower technology, but without the ability to secure significant additional investors or customer Engineering, Procurement and Construction contracts to provide the financial support necessary to develop and deploy mPower reactors, the current development pace will be slowed. B&W notified the U.S. Department of Energy of its plans for reduced spending, indicating it would work with the DOE and other stakeholders during the next one to two months to confirm the best path to develop a mutually agreeable plan including program milestones for continuing the cost-shared industry partnership program. B&W expects to invest up to $15M annually, beginning in 3Q14.

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