The ADVANCE Act becomes law

President Biden has signed S. 870 into law, the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act, which is bipartisan legislation that will provide a major boost to the future of nuclear energy in America.

SIGNED: Bipartisan ADVANCE Act to Boost Nuclear Energy Now Law

Newspaper articles are not yet out, so the following comes directly from the Senate Committee on Environment & Public Works Minority press release, issued jointly by Senate EPW leaders and House Commerce Committee leaders upon the signing of the legislation by President Biden. (For Nucleation Capital's reaction, please read "Biden Signs the ADVANCE Act," which is available on our blog.)

WASHINGTON, D.C. – Today, the president signed into law the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act, bipartisan legislation to provide a major boost to the future of nuclear energy in America.

U.S. Senator Shelley Moore Capito (R-W.Va.), Ranking Member of the Senate Environment and Public Works (EPW) Committee, EPW Chairman Tom Carper (D-Del.), U.S. Rep. Cathy McMorris Rodgers (R-Wash.-05), Chair of the House Energy and Commerce (E&C) Committee, and U.S. Rep. Frank Pallone, Jr. (D-N.J.-06), Ranking Member of the House Energy and Commerce Committee, released the below statements celebrating the enactment of the bipartisan bill (S.870), which passed the Senate by a vote of 88-2 and passed the House by a vote of 393-13.

“With the ADVANCE Act being signed into law, we secured a landmark win for the future of nuclear energy here in America,” EPW Ranking Member Capito said. “Getting substantive, bipartisan policy across the finish line isn’t always easy, but this is the result of years of work to build widespread consensus about the benefits of advanced nuclear reactors to our electric grid, economy, and environment. I’m thrilled the ADVANCE Act is now law to enable the deployment of new nuclear and help keep the United States as the world’s nuclear energy leader.”

“Today is a momentous day for our climate and America’s clean energy future,” EPW Chairman Carper said. “The urgency of the climate crisis demands a swift transition to cleaner energy sources, and fortunately the ADVANCE Act helps us to do just that. This bipartisan law will strengthen our energy and national security, lower greenhouse gas emissions and create thousands of new jobs, while ensuring the continued safety of this zero-emissions energy source. I’m thankful to each of my colleagues and their staffs who helped write, pass and deliver this bill to the President’s desk.”

“The Energy and Commerce Committee has a rich history of advancing major bipartisan solutions, and I’m extremely proud that our years of hard work to strengthen American nuclear energy have paid off with this significant legislation that will improve energy reliability and reduce costs for American families and businesses,” E&C Chair McMorris Rodgers said. “This is a major victory for the American people and will help cement U.S. energy leadership for decades to come. I want to thank everyone who has worked tirelessly to get this legislation signed into law, especially the Chair of our Energy Subcommittee and bill author Rep. Jeff Duncan.”

“Nuclear power plays an important role in producing carbon-free power for our electric grid, and now our nuclear industry will have the framework it needs to strengthen America’s energy leadership,” E&C Ranking Member Pallone said. “By ensuring we can deploy safer and more reliable nuclear power, the ADVANCE Act will help combat our dependence on dirty fossil fuels, strengthening our energy independence and securing our economic security. I’m grateful to have worked alongside my colleagues to get this across the finish line.”

The ADVANCE Act will:

Facilitate American Nuclear Energy Leadership by:
- Empowering the Nuclear Regulatory Commission (NRC) to lead in international forums to develop regulations for advanced nuclear reactors.
- Directing the Department of Energy (DOE) to improve its process for approving the export of American technology to international markets, while maintaining strong standards for nuclear non-proliferation.

Support Development and Deployment of New Nuclear Energy Technologies by:
- Reducing regulatory costs for companies seeking to license advanced nuclear reactor technologies.
- Creating a prize to incentivize the successful deployment of next-generation reactor technologies.
- Requiring the NRC to develop a pathway to enable the timely licensing of microreactors and nuclear facilities at brownfield and retired fossil-fuel energy generation sites.
- Directing the NRC to establish an accelerated licensing review process to site and construct reactors at existing nuclear sites.

Preserve Existing Nuclear Energy by:
- Modernizing outdated rules that restrict international investment.

Strengthen America’s Nuclear Energy Fuel Cycle and Supply Chain Infrastructure by:
- Directing the NRC to enhance its ability to qualify and license accident-tolerant fuels and advanced nuclear fuels that can increase safety and economic competitiveness for existing reactors and the next generation of advanced reactors.
- Tasking the NRC to evaluate advanced manufacturing techniques to build nuclear reactors better, faster, cheaper, and smarter.

Improve Commission Resources and Efficiency by:
- Providing flexibility for the NRC to better manage and invest its resources in activities that support NRC’s modernization efforts and address staffing issues.
- Providing the NRC Chair the tools to hire and retain exceptionally well-qualified individuals to successfully and safely review and process applications for advanced nuclear reactor licenses.
- Requiring the NRC to update its Mission Statement to reflect modern beneficial use of nuclear material and energy.
- Mandating the NRC to establish a licensing structure to support an efficient, timely, and predictable regulatory review.
- Charging the NRC to streamline the NEPA environmental review process.

Sources

You can find more detailed information about the rest of the act from these excellent sources.

SIGNED: Bipartisan ADVANCE Act to Boost Nuclear Energy Now Law, Senate Committee on Environment & Public Works, July 9, 2024.
Rodgers, Pallone, Carper, Capito Celebrate Signing of Bipartisan Nuclear Energy Bill, the ADVANCE Act, July 9, 2024.
The White House, Bill Signed S. 870, July 9, 2024.
The ADVANCE Act—Legislation Crucial for a U.S. Nuclear Renaissance—Clears Congress. Here's a Detailed Breakdown by Sonal Patel, Power Magazine June 20, 2024
Congress Passes ADVANCE Act to Facilitate U.S. Development of Advanced Nuclear Reactors Sidley Austin LLP, June 26, 2024

Published by Nucleation Capital in Advanced Nuclear, Biden-Harris Administration, Brilliant thinkers, Climate policy, Energy abundance, Energy transition, Future of Energy, Government support, History Timeline, History-making, LINKS, Nuclear competitiveness, Nuclear innovation, Nuclear Regulatory Commission, Regulatory reform, US competitiveness, US technological leadership, Zero emission energy

June 18, 2024

Congress overwhelmingly passes the ADVANCE Act

By a vote of 88 to 2, the Congress overwhelmingly passed the reconciled ADVANCE Act (S. 870) in a powerful, bipartisan show of support for advanced nuclear power, accelerating deployments and bringing the NRC into the 21st century, so it can enable and support the growth of next-generation nuclear energy.

Alexander C. Kaufman, writing in the Huffington Post, called the ADVANCE (Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy) Act "the biggest clean-energy bill since Biden's climate law." What it really is, is legislation designed to "reverse the American nuclear industry’s decades-long decline and launch a reactor-building spree to meet surging demand for green electricity at home and to catch up with booming rivals overseas." And, according to Diana DeGette (D-Colo.), a “much needed modernization of our nuclear regulatory framework.”

There are a number of very important provisions in the bill but, one of the most important is the provision which tasks the NRC with rewriting its mission statement so as to avoid unduly limiting nuclear and thereby preventing efforts to allow society to benefit from its clean power. The bill also reduces the fees charged to developers and helps speed up the process for licensing new reactors, hiring key staff and coordinating with foreign regulators to speed deployments.

The passage of the ADVANCE Act continues a long-term trend of strong bipartisan unity on nuclear-related bills, demonstrating agreement by Democrats and Republicans on the importance of expanding clean and reliable energy. The House of Representatives had previously passed its corresponding legislation by a vote of 365 to 36, strengthening and expanding upon the version passed back in July by the Senate.

“Republicans and Democrats recognize the development of new nuclear technologies is critical to America’s energy security and our environment,” Sen. Shelley Moore Capito (R-W.Va.), the bill’s lead sponsor, said on the Senate floor Tuesday evening. “Today, nuclear power provides about 20% of our nation’s electricity. Importantly, it’s emissions-free electricity that is 24/7, 365 days a year.”

“This bipartisan policy creates the framework for companies to start building that order book for a second project and a third project and ultimately get the NRC ready to license dozens per year,” said Nicholas McMurray, the managing director of international and nuclear policy at energy policy group ClearPath.

The ADVANCE Act is specifically tailored to boost the next generation of reactors being designed now, that are not currently in commercial production in the U.S. Some of these newer designs will be migrating away from water cooling and will use other types of coolants, such as liquid metal or high-temperature gas, which have a range of benefits, such as enhanced safety, allowing reactors to run on different types of fuel, producing less waste and being able to operate at higher temperatures and be sized to suit the needs of users in more settings than a traditional nuclear plant.

In recognition of these so-called fourth-generation reactor models’ unique uses and the urgency of bringing these designs to market, the bill authorizes the Department of Energy to give out financial awards to the first companies to meet specific goals, such as using fuel made from recycled nuclear waste or generating heat that could be used for industrial process heat, rather than electricity production.

Given that the Biden-Harris Administration has just announced steps to bolster the domestic nuclear industry and advance America's Clean Energy Future, it seems highly likely that Biden will sign the legistlation. Meanwhile, the DOE has also just announced that it has allocated an additional $900 million to accelerate the deployment of next-generation small modular reactors.

Together, these actions amount to laying the foundation necessary to help America finally compete with Russia and China. Speaking in support of the legislation Tuesday, Senate Majority Leader Chuck Schumer (D-N.Y.) said the bill would “support job growth, clean energy and leadership while preserving the NRC’s fundamental safety mission.'

Sources

The Huffington Post, "Congress Just Passed The Biggest Clean-Energy Bill Since Biden's Climate Law:It's all on nuclear," by Alexander C. Kaufman June 20, 2024.

DOE Fact Sheet: Biden-Harris Administration Announces New Steps to Bolster Domestic Nuclear Industry and Advance America’s Clean Energy Future, May 29th, 2024.

Office of Nuclear Energy, Enhanced Safety of Advanced Reactors, 2024.

DOE Announces $900 Million to Accelerate the Deployment of Next-Generation Light-Water Small Modular Reactors, June 17, 2024

Published by Nucleation Capital in Advanced Nuclear, Biden-Harris Administration, Brilliant thinkers, Climate policy, Energy abundance, Energy transition, Future of Energy, Government support, History Timeline, History-making, LINKS, Nuclear competitiveness, Nuclear innovation, Regulatory reform, Solving climate, US competitiveness, US technological leadership, Zero emission energy

June 10, 2024

Gates’ TerraPower Advances the Natrium

Bill Gates' TerraPower has "broken ground" at the future site of the Natrium Power Plant, what will be an advanced nuclear power plant. This follows the acceptance of TerraPower's Construction Permit Application for review by the U.S. Nuclear Regulatory Commission in May, 2024.

Bill Gates wrote about this ground-breaking in Kemmerer, Wyoming on his GatesNotes blog and he provided further background on his interest in advanced nuclear, which started as far back as 2008. It just so happened that when he fell in love with the density, inherent safety and superior performance of advanced nuclear power, he was able to afford to hire a team and launch TerraPower on his own. It also didn't hurt that he happened to be buddies with Warren Buffet, the CEO of Berkshire Hathaway, the company that owns PacifiCorp, which owns a lot of struggling coal plants, so he was able to score a site on the property of a retiring coal plant, on which to plan to build his demonstration reactor.

In fact, advanced nuclear holds tremendous prospects for resurrecting the value of these ill-fated plants and the economic vitality of those regions suffering from the closures of coal, most of which are closing as a result of competition form cheap natural gas that is also better suited for being "dispatched," at a minute's notice, if, let's say, the wind stops blowing. As many as 80% of these plants could, according to a study done by the DOE, be converted to advanced nuclear plants cost-effectively, because they are reuse turbines, generators and even transmission lines that are already there. Taking what are currently brownfield sites with very little value because of the toxicity, health and carbon-impacts of coal and converting them to clean power plants that use advanced fission to generate both power and heat, is starting to look like a very lucrative endeavor.

No wonder Bill Gates has already invested over a billion dollars and has committed to putting billions more of his own funds into this venture. Being the sixth wealthiest person in the world gives him this option. And, if you think that, because you read a lot and you've had exeptional success with a software company, that you have what it takes to create the best advanced nuclear technology and believe that it will be rapidly adopted and deployed around the world and possibly put the remainder of the world's coal plants out of business, investing your billions into that makes total sense.

For the rest of us, however, investing into a venture fund like Nucleation Capital, which is dedicated to building a diversified pool of advanced nuclear ventures with various alternative designs, more than a few of which could find real traction within differing niches of the energy markets which also need power but may prefer a different configuration or set of features, may make more sense and pose considerably less risk. Especially when the fund provides low-cost participation, so that those of us not in the top ten wealthiest humans list, can access that fund without breaking the bank but nevertheless have a meaningful chance of participating in the growth of nuclear around the world.

Read Bill's GatesNotes announcement here: "We just broke ground on America’s first next-gen nuclear facility: Kemmerer, Wyoming will soon be home to the most advanced nuclear facility in the world" Bill Gates, June 10, 2024.

Bloomberg, Bill Gates Says He’s Ready to Put Billions Into Nuclear Power, by Caleb Mutua, June 16, 2024.

Published by Nucleation Capital in Advanced Nuclear, Brilliant thinkers, Construction costs, Energy transition, Future of Energy, Government support, History Timeline, History-making, LINKS, Nuclear competitiveness, Nuclear financing, Nuclear innovation, Nuclear Regulatory Commission, Solving climate, US competitiveness, US technological leadership, Zero emission energy

May 29, 2024

Biden’s Brilliance Advances Nuclear

The Biden-Harris Administration held a summit on Domestic Nuclear Deployment and announced major new steps to bolster the U.S. domestic nuclear industry and advance America’s (and likely the whole world's) clean energy future. This is political leadership, informed by science, industry, policy, practice and realism, at its best. The effects of Biden's brilliance in this area—with his focus on accelerating the deployment of the only energy technology that can compete head to head with fossil fuels—can make a real difference in how quickly and cost-effectively next generation nuclear will get to market and is exactly what we need to finally enable us to move the needle on climate.

According to numerous analyses, the Biden Administration is taking decisive steps to support the construction of large-scale nuclear reactors, crucial for meeting our clean energy goals, as well as supporting the licensing and development of next-generation nuclear power plants. The White House has formed an expert group whose focus and mission will be to work on solving the problems that are cause delays to new projects and thus eliminate, reduce or mitigate industry risks to ensure timely completion of projects and bolster progress towards a carbon-free power sector by 2035 and a net-zero emissions economy by 2050. The text of the White House Fact Sheet is so perfect, it is better to reprint it than attempt to summarize it. See the first few paragraphs below, but click the links to go directly to the sources.

For decades, nuclear power has been the largest source of clean energy in the United States, accounting for 19% of total energy produced last year. The industry directly employs nearly 60,000 workers in good paying jobs, maintains these jobs for decades, and supports hundreds of thousands of other workers. In the midst of transformational changes taking place throughout the U.S. energy system, the Biden-Harris Administration is continuing to build on President Biden’s unprecedented goal of a carbon free electricity sector by 2035 while also ensuring that consumers across the country have access to affordable, reliable electric power, and creating good-paying clean energy jobs. Alongside renewable power sources like wind and solar, a new generation of nuclear reactors is now capturing the attention of a wide range of stakeholders for nuclear energy’s ability to produce clean, reliable energy and meet the needs of a fast-growing economy, driven by President Biden’s Investing in America agenda and manufacturing boom. The Administration recognizes that decarbonizing our power system, which accounts for a quarter of all the nation’s greenhouse gas emissions, represents a pivotal challenge requiring all the expertise and ingenuity our nation can deliver.

The Biden-Harris Administration is today hosting a White House Summit on Domestic Nuclear Deployment, highlighting the collective progress being made from across the public and private sectors. Under President Biden’s leadership, the Administration has taken a number of actions to strengthen our nation’s energy and economic security by reducing – and putting us on the path to eliminating – our reliance on Russian uranium for civil nuclear power and building a new supply chain for nuclear fuel, including: signing on to last year’s multi-country declaration at COP28 to triple nuclear energy capacity globally by 2050; developing new reactor designs; extending the service lives of existing nuclear reactors; and growing the momentum behind new deployments. Recognizing the importance of both the existing U.S. nuclear fleet and continued build out of large nuclear power plants, the U.S. is also taking steps to mitigate project risks associated with large nuclear builds and position U.S. industry to support an aggressive deployment target.

To help drive reactor deployment while ensuring ratepayers and project stakeholders are better protected, theAdministration is announcing today the creation of a Nuclear Power Project Management and Delivery working group that will draw on leading experts from across the nuclear and megaproject construction industry to help identify opportunities to proactively mitigate sources of cost and schedule overrun risk. Working group members will be made up of federal government entities, including the White House Office of Domestic Climate Policy, the White House Office of Clean Energy Innovation & Implementation, the White House Office of Science and Technology Policy, and the Department of Energy. The working group will engage a range of stakeholders, including project developers, engineering, procurement and construction firms, utilities, investors, labor organizations, academics, and NGOs, which will each offer individual views on how to help further the Administration’s goal of delivering an efficient and cost-effective deployment of clean, reliable nuclear energy and ensuring that learnings translate to cost savings for future construction and deployment.

The United States Army is also announcing that it will soon release a Request for Information to inform a deployment program for advanced reactors to power multiple Army sites in the United States. Small modular nuclear reactors and microreactors can provide defense installations resilient energy for several years amid the threat of physical or cyberattacks, extreme weather, pandemic biothreats, and other emerging challenges that can all disrupt commercial energy networks. Alongside the current defense programs through the Department of the Air Force microreactor pathfinder at Eielson AFB and the Office of the Secretary of Defense (OSD) Strategic Capabilities Office (SCO) Project Pele prototype transportable microreactor protype, the Army is taking a key role in exploring the deployment of advanced reactors that help meet their energy needs. These efforts will help inform the regulatory and supply chain pathways that will pave the path for additional deployments of advanced nuclear technology to provide clean, reliable energy for federal installations and other critical infrastructure.

Additionally, the Department of Energy released today a new primer highlighting the expected enhanced safety of advanced nuclear reactors including passive core cooling capabilities and advanced fuel designs. Idaho National Laboratory is also releasing a new advanced nuclear reactor capital cost reduction pathway tool that will help developers and stakeholders to assess cost drivers for new projects.

Continue reading the White House announcement here: "Fact Sheet: Biden-⁠Harris Administration Announces New Steps to Bolster Domestic Nuclear Industry and Advance America’s Clean Energy Future," May 29, 2024.