Kairos Power, DOE agree on milestone approach to Hermes support

February 22, 2024, 9:30AMNuclear News

Kairos Power announced on February 21 that it has signed a technology investment agreement with the Department of Energy to implement the Advanced Reactor Demonstration Program (ARDP) Risk Reduction funding that the company was awarded in December 2020. Under the agreement, the DOE will provide up to $303 million to Kairos Power using a performance-based, fixed-price milestone approach to support the design, construction, and commissioning of the Hermes demonstration reactor in Oak Ridge, Tenn.

To continue reading, log in or create a free account!

Related Articles

DOE, NRC prepare for government shutdown

October 1, 2025, 12:03PMNuclear News

The Department of Energy and the Nuclear Regulatory Commission will furlough thousands of employees and operate at reduced capacity under a government shutdown that started after midnight on...

Oklo breaks ground at INL on Aurora reactor

September 29, 2025, 6:25AMNuclear News

Following the same milestones from Aalo Atomics and Valar Atomics, Santa Clara, Calif.–based reactor start-up Oklo has become the third company participating in the Department of Energy’s...

NEDHO: A conversation with Seungjin Kim

September 24, 2025, 12:10PMNuclear News

Recently, Nuclear Engineering Department Heads Organization Chair Seungjin Kim talked with Nuclear News about NEDHO’s current condition, governmental funding for NEDHO and university...