August 1, 2019

Venerable venture capitalist, Ray Rothrock, backs advanced nuclear ventures

Ray Rothrock, the venture capitalist with the most experience backing advanced nuclear ventures, has agreed to serve as an advisor to Nucleation Capital. Ray led Venrock's investment in Tri Alpha Energy in 2005 and sits on the TAE board.  He personally invested in Transatomic Energy, and served as the chair of the board until the company closed in 2018. Ray has been involved in shifting the conversation about nuclear energy in the US, testifying on behalf of H.R. 4084, the Nuclear Energy Innovation Capabilities Act, which was ultimately signed into law in 2018, funding the Robert Stone documentary, Pandora's Promise and many other facets of activity.

In 2016, Ray reflected on the role of venture capital in funding advanced nuclear ventures and wrote: "Aren’t we VCs supposed to be ruthlessly focused on finding ideas that we think can be brought to market with reasonable investments and in reasonable periods of time? Of course. But sometimes an opportunity presents itself that, if it works, can change the future forever and for everyone. . . "

Read more of Ray's thinking about the role of venture capital in What’s the Big Idea?, an article he published in the Winter 2016 edition of Issues in Science and Technology.

September 28, 2018

NEICA becomes law

Senate Bill 97, the Nuclear Energy Innovation Capabilities Act of 2017, enabling the use of National Lab facilities to test private advanced nuclear designs, was signed into law on September 28, 2018 with bi-partisan co-sponsors and overwhelming support (voice votes only) in both the House and Senate.

Summary: The bill enables civilian research and development of advanced nuclear energy technologies by private and public institutions by establishing the National Reactor Innovation Center (NRIC) to facilitate the siting of privately funded advanced reactor prototypes at DOE sites through partnerships between the Department of Energy and private industry. In addition, this legislation authorizes an advanced nuclear energy licensing cost-share program to provide grants to developers of advanced reactor technologies in order to help offset the fees charged by the Nuclear Regulatory Commission for certain costs related to licensing. The bill directs the DOE to determine the need for a new test reactor, the Versatile Neutron Source, to support research and development of advanced reactor systems by providing access to fast neutron spectrum irradiation capabilities, and directs the agency to construct such a facility by 2025. Finally, S. 97 authorizes the agency to expand capabilities in the area of high-performance computation modeling and simulation techniques for nuclear reactors, leveraging the Department’s existing computational expertise and infrastructure.

Read more about  S. 97, Nuclear Energy Innovation Capabilities Act.  

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