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GE Vernova is aiming to deploy small nuclear reactors across the developed world over the next decade, staking out a leadership position in a budding technology that could play a central role in meeting surging electricity demand and reducing carbon dioxide emissions. GE Vernova is the spinoff of General Electric's former energy business. The U.S. government wants to triple nuclear power by 2050 to shore up an electric grid that is under growing pressure from surging power demand. GE Vernova is targeting more than $2 billion in annual revenue from its small reactor business by the mid-2030s. GE Vernova won the first commercial contract in North America to deploy a small modular reactor for Ontario Power in January 2023.
Persons: Nicole Holmes, Holmes, Kenneth Parks, GE Vernova Organizations: GE, GE Hitachi, GE Vernova, New York Stock Exchange, CNBC, GE Vernova's SMR, U.S, Bank of America, America, Ontario Power, Tennessee Valley Authority, Energy, Toronto . Ontario Power Locations: Cambridge, U.S, Canada, United Kingdom, Europe, Poland, North America, Darlington, Lake Ontario, Toronto
Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.
Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, , Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, , ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, , MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates
REUTERS/Lucas Jackson/File PhotoWASHINGTON, Oct 27 (Reuters) - TerraPower LLC, Bill Gates' advanced nuclear reactor company, and power company PacifiCorp said on Thursday they will undertake a study to evaluate deploying up to five additional Natrium reactors in the U.S. West by 2035. The Wyoming Natrium reactor, being developed by TerraPower and GE Hitachi Nuclear Energy, will get about half of its funding from the U.S. government. The joint study on the additional reactors will evaluate the potential for advanced reactors to be located near current fossil-fueled generation sites, enabling PacifiCorp to repurpose existing power generation and transmission assets in California, Washington, Oregon, Utah, Wyoming, and Idaho, the companies said. Some nonproliferation experts say the more highly enriched fuel expected to be used by advanced reactors could become an attractive target for militants looking to convert it for use in a crude nuclear weapon. Advanced reactor proponents say the plants are safer and create less waste.
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