Modernizing the Nuclear Regulatory Commission (NRC) is essential as it is expected to receive roughly 10 new license applications before 2025, all looking to build advanced nuclear reactors over the next decade.
Jeremy Harrell, ClearPath Chief Strategy Officer, testified before the Senate Environment and Public Works (EPW) Committee this week, stating, “Nearly 50 countries are projected to have markets for advanced nuclear before 2050, a more than $360 billion market opportunity for the American supply chain.”
Above: NEI President and CEO Maria Korsnick and ClearPath Action Chief Strategy Officer Jeremy Harrell.
Plug in: “Make no mistake about it – if the U.S. does not seize that opportunity, China and Russia will,” Harrell added.
Additionally, earlier this week, EPW Committee Ranking Member Shelley Moore Capito (WV) and House Energy and Commerce Committee Republican Leader Cathy McMorris Rodgers (WA) pressed the GAO to review NRC’s preparedness on advanced nuclear reactor applications.
2. Industrial hydrogen hubs
Leading energy companies and steel manufacturers are joining together to advocate for an industrial hydrogen hub in Ohio, Pennsylvania and West Virginia.
New alliance includes EQT Corporation … Equinor … GE Gas Power … Marathon Petroleum (including its affiliate MPLX) … Mitsubishi Power … Shell Polymers … and U.S. Steel.
Hub will focus on carbon capture, utilization & storage (CCUS), as well as hydrogen.
The project could generate thousands of new jobs and achieve significant reductions in carbon dioxide emissions, according to the companies.
Plug in: The bipartisan infrastructure bill included multiple hydrogen-related authorizations and $8 billion in appropriations for regional hydrogen hubs as well as,
$1 billion for a Clean Hydrogen Electrolysis Program, and
$500 million for a Clean Hydrogen Manufacturing program.
3. ClearPath applauds TVA’s advanced nuclear plan
Tennessee Valley Authority (TVA) announced a roadmap for advanced nuclear in its New Nuclear Program.
The program will explore advanced nuclear energy options such as small modular reactors as one of several technologies for achieving its net-zero by 2050 goal.
Rich’s take:
“TVA’s pursuit of a New Nuclear Program not only provides an innovative, accelerated method to reducing emissions, but it also demonstrates advanced nuclear’s key role in utilities achieving their clean energy goals.”
TVA also announced it is in discussions with GE Hitachi (GEH) to support its light-water small modular reactor design, the GEH BWRX-300, which TVA views as “ready for commercial deployment within a decade.”
Quaise Energy, an energy startup, announced $40 million in Series A funding this week. Quaise is among several companies targeting “supercritical” geothermal resources.
The company is looking to scale geothermal energy by experimenting with a “millimeter wave” drilling system to tap high-energy resources at extremely high temperatures.
DOE also announced a new funding program for geothermal drilling demonstration projects aimed at reducing drilling costs and the time needed to complete them.
What’s clear: Geothermal energy, a clean, renewable resource available in most regions, while underutilized, has immense potential to achieve emissions reduction goals.
5. States look to nuclear
As advanced nuclear demonstrations continue to gain momentum, there is an emerging trend to be on the lookout for.
A number of retiring coal facilities are examining the possibilities of transitioning workforce to advanced nuclear energy reactors.
West Virginia recently lifted its ban on nuclear construction, and Indiana is also considering similar legislation.
6. Congressional Hispanic Leadership Institute clean energy panel
WATCH:
ClearPath’s Managing Director of Government Affairs Jeff Morehouse joined Members of Congress and energy executives on a panel hosted by the CHLI regarding how environmental, social, and corporate governance impacts the industry and consumers.
Senators Capito, Crapo, Whitehouse, Barrasso, and Booker sent a letter to NRC Chairman Hanson regarding the “Part 53” rulemaking, a technology-inclusive regulatory framework for advanced nuclear technologies.
CRES Forum launched its first white paper, which presents a conservative vision of climate change policy.
8. Coming down the pipeline
House Science, Space, & Technology Subcommittee on Energy will hold a hearing on the future of clean hydrogen.
Above: NEI President and CEO Maria Korsnick and ClearPath Action Chief Strategy Officer Jeremy Harrell.
