A new sort nuclear reactor is in the late development stages and offers the promise of revolutionizing the energy industry. The new reactor is worthy of note primarily for its shrinking size and price-tag. Reports indicate the device costs a staggering 90 percent less than that of a nuclear power plant and is approximately the size of a railcar, according to Trading Reports.
A report from the Wallstreet Journal indicated that the Tennessee Valley Authority FirstEnergy Corp. signed a joint agreement with Oglethorpe Power Corp. and McDermott International's Babcock & Wilcox subsidiary to commercially operate the revolutionary device.
The reactor is particularly of note when considering the Presidential promise last week for $8 billion in load guarantees, which could allow for the construction of the first new U.S. nuclear power in 3 decades.
While the new reactors are reportedly not as powerful as their larger counterparts, they could sufficiently replace coal burning plants.
In the hours following the announcement share of Tennessee Valley Authority were unchanged while McDermott International shares were up 4.4 percent. Shares of FirstEnergy fell 0.3%.
Those invested in the energy market should consider the placement of their capital, as the new developments could be potentially damaging for energy firms like NRG, Duke and others.
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