Jamie Smyth of The Financial Times reports on the funding challenges of nuclear energy startups.
- Advanced nuclear energy projects have come under scrutiny lately after NuScale was forced to cancel its project due to cost overruns.
- While inflation and supply chain constraints were one reason for this cancellation, overburdensome regulations are also increasing costs.
- Streamlining and modernizing these regulations is critical to reducing emissions, improving energy security, and bolstering the U.S. nuclear industry.
“The industry is racing to develop SMRs — new types of advanced nuclear reactors that have a power capacity of 300MW or less, which is about a third of standard facilities. Governments and private investors — including Rolls-Royce, GE and Hitachi — have spent billions of dollars to commercialise the technology over the past decade.”
Read the full article here.