DOE invests in more efficient nuclear power plants

The Obama administration is looking to develop more efficient nuclear power facilities.

Next generation nuclear reactors would not only save energy, but they would also be safer to operate, the Department of Energy (DOE) said Friday as it announced new investments in the sector.

As part of the Obama administration's climate action plan, the Energy Department announced it will provide tens of millions of dollars to support companies involved in key nuclear energy research.

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The companies, including AREVA Federal Services, GE Hitachi Nuclear Energy, General Atomics, NGNP Industry Alliance, and Westinghouse Electric Company, are looking to build advanced reactor technologies.

These companies will receive $13 million in cost-share agreements with the Energy Department that will help them address design, construction and operation issues associated with next generation nuclear reactors. 

“This type of public-private research in advanced nuclear reactors will help accelerate American leadership in the next generation of nuclear energy technologies, and move the United States closer to a low carbon future,” Energy Secretary Ernest MonizErnest Jeffrey MonizOVERNIGHT ENERGY: Supreme Court declines to hear challenge to Obama marine monument designation | Interior reverses course on tribal ownership of portion of Missouri river | White House climate adviser meets with oil and gas companies Moniz: Texas blackouts show need to protect infrastructure against climate change The Hill's Morning Report - Biden: Back to the future on immigration, Afghanistan, Iran MORE said in a statement. “These types of investments are crucial to the continuing role of nuclear power as a significant contributor to the U.S. energy economy.”