Setback For Small Nuclear Reactors: B&W Cuts mPower Funding

mdsolar (1045926) writes with news that funding for the mPower, a Small Modular [Nuclear] Reactor, has been cut due to the inability to find investors interested in building a prototype. From the article: "The pullback represents a major blow to the development of SMRs, which have been hailed as the next step forward for the nuclear power industry. ... All told, B&W, the DOE, and partners have spent around $400 million on the mPower program. Another $600 million was needed just to get the technology ready for application to the Nuclear Regulatory Commission for licensing. ... B&W plans to continue low-level R&D on the mPower technology with a view to commercial deployment in the mid-2020s, said CEO James Ferland. But without a major shift in the business environment and in investor perceptions of the risks and rewards associated with nuclear power, that seems fanciful."