Southern Company today announced it has been awarded up to $40 million from the U.S. Department of Energy to explore, develop and demonstrate advanced nuclear reactor technologies through subsidiary Southern Company Services.

The effort will be managed through a new public-private partnership with TerraPower, Oak Ridge National Laboratory, the Electric Power Research Institute and Vanderbilt University. Housed at the DOE's Oak Ridge National Laboratory, in Oak Ridge, Tennessee, the research will bolster the development of molten chloride fast reactors, an advanced concept for nuclear generation.

"Nuclear energy currently accounts for about 20 percent of the nation's energy mix, and its importance will continue to grow as America transitions to a low-carbon energy future," said Southern Company Chairman, President and CEO Thomas A. Fanning. "This collaborative research effort will help accelerate the development of next generation nuclear reactors."

Researchers believe MCFRs could provide enhanced operational performance, safety, security and economic value, relative to other advanced reactor concepts. The MCFR project is one of two DOE cost-shared advanced reactor concept development projects awarded $6 million in 2016, with an opportunity for $40 million each in total funding over multiple years. 

"In order to ensure that nuclear energy remains a key source for U.S. electricity generation well into the future, it is critically important that we invest in these technologies today," said Secretary of Energy Dr. Ernest Moniz. "Public-private partnerships to develop advanced nuclear capabilities will enable low-carbon nuclear energy to power America for years to come."

A long-standing proponent of nuclear power, Southern Company – through its subsidiaries – is the only electric utility in America today developing the full portfolio of energy resources, including being one of the first to build new nuclear units in more than 30 years. The company is building the two new nuclear units at subsidiary Georgia Power's Plant Vogtle, which are expected to provide enough emission-free generation to power 500,000 homes and businesses.