Fluor invests $30M in small modular reactor technology

Oct 15 - McClatchy-Tribune Regional News - Anna Dolianitis Aiken Standard, S.C

Fluor Corporation, the parent company of Savannah River Nuclear Solutions, announced Thursday an investment of more than $30 million in an Oregon-based company that is commercializing small modular reactor technology.

Fluor purchased shares in NuScale Power LLC, which, using Department of Energy funding, hopes to bring its SMR concept to market in a shorter time frame with Fluor's support, possibly by 2020.

"Fluor's history of accomplishment and success in the nuclear industry combined with NuScale's innovative and safe nuclear technology will provide our customers with a very competitive option," said John Hopkins, Fluor Corporation's group executive for Corporate Development and New Ventures during a meeting in Irving, Texas, Thursday. "Today's new energy marketplace is dynamic and requires power generation diversification and technological innovation for continued success."

The NuScale design is for a modular, scalable Light Water Reactor nuclear power plant system.

The technology, developed at Oregon State University from 2000 to 2003, will be coupled with Fluor's funding and expertise in engineering, procurement and construction.

NuScale Chief Executive Officer Paul Lorenzini said that the company has been in discussions with potential customers throughout the country, including the Savannah River Site, but it is too soon to say where the reactor technology might be demonstrated.

"There are customers throughout the country, there are customers in other countries that have a lot of interest, and we have a lot of conversations going on," Lorenzini said during the meeting.

In a statement issued jointly by SRNS President and CEO Dwayne Wilson and DOE Savannah River Operations Office Manager Dr. Dave Moody, the two congratulated Fluor.

"It's a significant step forward in offering new and innovative technologies to address the nation's clean energy challenges. We look forward to working with all technology providers to advance small modular reactor development and commercialization," the statement read.

SRNS in 2010 announced two Memoranda of Understanding with Hyperion Power Generation Inc. and GE Hitachi to bring small modular reactors to a future energy complex at SRS, and Savannah River National Laboratory Associate Director for Clean Energy Initiatives Dr. Tom Sanders said more are in talks.

Whether or not NuScale decides to demonstrate the SMR technology at SRS, Sanders said that all announcements that explore small modular reactor technology are a positive thing.

"I really applaud any company that steps up to the plate in an entrepreneurial fashion and takes on the risk associated with being the first. ... I'm really proud that Fluor has done that," Sanders said. "From a site perspective, we, of course, have a lot of the materials necessary to fuel these first reactors. We have a lot of technology that could be integrated into them, and our hope is to be accessible to all the small reactor concepts, as many as possible that want to come here."

Sanders said that SRNS' current MOUs are on-track, and SRNS and SRNL are continuing to promote the placement, testing and demonstration of SMRs at SRS as part of the Enterprises SRS vision.

"We are also influencing these concepts with technologies out of the national lab," Sanders said. "The ultimate goal is, sure we want to build and operate small reactors, but think about the jobs that might be created. ... I would suggest that we are at the beginning of a major economic opportunity."

Contact Anna Dolianitis at adolianitis@aikenstandard.com.

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