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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.

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Kairos Power, DOE agree on milestone approach to Hermes support

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