In October 2024, the US Department of Energy (DOE) — under the Joe Biden administration — opened applications for funding to support the initial domestic deployment of Generation III+ small modular reactor (SMR) technologies, with up to USD800 million to go to two “first-mover” teams, with an additional USD100 million to address so-called gaps that have hindered plant deployments. According to the solicitation documentation, a Gen III+ SMR is defined as a nuclear fission reactor that uses light water as a coolant and low-enriched uranium fuel, with a single-unit net electrical power output of 50–350 MWe, that maximises factory fabrication approaches, and the same or improved safety, security, and environmental benefits compared with current large nuclear power plant designs.

The solicitation was re-issued by the DOE in March 2025 to better align with President Donald Trump’s agenda on unleashing American energy and AI dominance.

In December last year, the DOE selected Tennessee Valley Authority (TVA) and Holtec Government Services to each receive USD400 million in federal cost-shared funding to support early deployments of advanced light-water small modular reactors in the USA. TVA’s application was selected for funding to accelerate the deployment of a GE Vernova Hitachi BWRX-300 at its Clinch River site in East Tennessee. Holtec plans to deploy two SMR-300 reactors — named Pioneer 1 and 2 — at the Palisades Nuclear Generating Station site in Michigan.