Duke Energy applauds Department of Energy's new nuclear investments, helps advance deployment of SMRs in the U.S.

Core Insights - Duke Energy reaffirms commitment to advanced nuclear development through participation in a U.S. Department of Energy cost-share project [1][2] - The DOE announced a $400 million grant to the Tennessee Valley Authority to accelerate deployment of GE Vernova Hitachi's BWRX-300 small modular reactor technology [2] - Collaboration with TVA and GE Vernova Hitachi aims to advance a standard technology design for cost-effective nuclear energy solutions [2][3] Company Strategy - Duke Energy's participation in the TVA technology grant application supports its new nuclear strategy, focusing on reliable, affordable, and carbon-free energy [2][3] - The company plans to submit an early site permit application for potential SMR deployment at the Belews Creek site in North Carolina by year-end [3] - Duke Energy is executing an ambitious energy transition, investing in electric grid upgrades and cleaner generation sources, including nuclear [6] Market Position - Duke Energy serves 8.6 million customers across multiple states and owns 55,100 megawatts of energy capacity [5] - The company also provides natural gas utilities to 1.7 million customers in several states [5] - The collaboration with TVA and GE Vernova Hitachi is expected to strengthen grid reliability and support economic growth [3]