Establish a Director of Nuclear Energy Policy at the White House to develop and execute a cohesive federal strategy to deploy American nuclear energy exports;
Direct engagement with foreign governments to establish financing relationships, ensure framework agreements and trade controls are in place for key markets, promote regulatory harmonization, and enhance safeguards and security.
What’s clear: “Developing countries have more recently looked to Russia and China for their new nuclear needs. Investing in our domestic supply chain and fostering export opportunities abroad will increase the energy security of our allies and create jobs here at home,” said Jeremy Harrell, Chief Strategy Officer, ClearPath Action.
Plug in: Sens. James Risch (R-ID) and Joe Manchin (D-WV) introduced the Senate version in March. Our Policy Advisor Natalie Houghtalen and Government Affairs Fellow Mallory Shaevsky recently penned a blog, “Nuclear, An American Alternative to Russian Energy.”
2. “Hydrogen Micro Hub” in South Korea powered by U.S. nuclear energy
Ultra Safe Nuclear Corporation (USNC), the U.S.-based microreactor producer, signed an MOU with Hyundai Engineering and SK ecoplant to conduct R&D on a carbon-free hydrogen production project powered by American nuclear energy in Seoul.
The “Hydrogen Micro Hub” would be a facility producing hydrogen using Bloom Energy’s high-temperature electrolysis unit
Electricity and steam to power the process would be generated by USNC’s Micro-Modular Reactor
What’s clear: High-temperature steam electrolysis is one of the most efficient ways to produce hydrogen and can only be produced using clean heat – like what is produced by nuclear energy. This innovative technology duo is deployable on a global scale and will help maintain America’s energy leadership and work to reduce global emissions.
3. Devon Energy invests big in geothermal leader, Fervo
Geothermal electricity continues to attract natural gas and oil companies’ interest. Fervo Energy, a Houston-based startup using drilling techniques perfected by the shale industry to turn underground hot rocks into electricity, is receiving an investment from Devon Energy.
Devon Energy, an Oklahoma energy company, is investing $10 million in Fervo.
Fervo has raised close to $140 million to date.
Plug in: Geothermal energy is a clean and reliable, renewable resource that has gained significant momentum in recent years. Since late 2019, nine new geothermal power purchase agreements (PPAs) have been signed and companies have nearly 60 active developing projects and prospects across nine U.S. states.
Fervo Energy combines hydraulic fracturing and horizontal drilling to reach further underground and capture additional heat to produce steam.
Enhanced Geothermal Technologies (EGS), like Fervo, have the potential to open greater portions of the U.S. to geothermal energy generation.
ClearPath is looking to fill several openings for Congressional Policy Fellows. Specifically, we are looking for individuals with policy backgrounds or clean energy experience to work in Congress.
What’s clear: Opportunities are open on the House or Senate side on key committees working on climate and clean energy policy.
Ebb Carbon – an ocean-based carbon dioxide removal (CDR) company – has raised a $20 million Series A to develop and deploy its technology, which enhances and speeds up the ocean’s natural ability to capture and permanently store CO2 from the atmosphere.
DOE published a new carbon management report, and finds that the market investment potential is $100 billion by 2030.
That’s all from us. Thanks for reading and have a great weekend!
