The two companies formed Generation mPower LLC in 2011 to develop, market and deploy small nuclear reactors called Small Modular Reactors, or SMRs. Bechtel and BWXT wanted to market the SMR’s shorter startup time and the capability for plants to activate several reactors to increase power generation capabilities , according to Bechtel spokesman Fred deSousa……..
The March 3 announcement came almost a year after the companies entered an agreement to restructure the program , which transferred the responsibility of finding investors for the project from BWXT to San Francisco-based Bechtel. As part of the termination agreement, BWXT will pay Bechtel a $30 million settlement as agreed to by both companies at the time of the restructuring agreement in 2016.
“Over the last several years, both BWXT and Bechtel have worked very hard to attract additional investor interest in the mPower,” BWXT spokesman Jud Simmons said. “We are disappointed that additional interest has not materialized, but BWXT will move forward in other areas where our unique expertise matches our current and potential customers’ needs.”
A large portion of BWXT’s research and development on the project was conducted at the Center for Advanced Engineering and Research in Bedford County. The company built the 120-foot-tall Integrated Systems Test facility — commonly referred to as the test loop — at CAER as a mock nuclear power facility to test new equipment and to simulate events like accidents or cyber attacks specifically related to the mPower project…….. http://www.roanoke.com/news/bwxt-bechtel-shelve-mpower-program/article_9d2f050a-6782-5a04-9212-a8c4b93a1840.html