American Electric Power (AEP) said Friday it is seeking grants from the US Department of Energy to support the Early Site Permit process for two potential Small Modular Reactor sites in Indiana and Virginia.
The company said it is seeking $50 million through a grant funding collaboration with the Tennessee Valley Authority and GE Hitachi Nuclear Energy to initiate the early stages of small modular reactor development at its Rockport Plant site.
The applications were submitted under the Department of Energy's Generation III+ Small Modular Reactor Program that is offering up to $900 million in grants.
Price: 97.64, Change: +0.82, Percent Change: +0.84
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.