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

•  Aligns with Duke Energy's focus to reduce costs while supporting reliability and economic prosperity
•  Federal cost-share project will support small modular reactor deployment by Tennessee Valley Authority and GE Vernova Hitachi

CHARLOTTE, N.C., Dec. 4, 2025 /PRNewswire/ -- Duke Energy reaffirms its commitment to advanced nuclear development activities as part of its participation in a recently announced U.S. Department of Energy (DOE) cost-share project.

Earlier this week, the DOE announced a $400 million grant to the Tennessee Valley Authority (TVA) to continue to accelerate deployment of GE Vernova Hitachi's (GVH) BWRX-300 small modular reactor (SMR) technology. As previously announced, Duke Energy's participation in TVA's technology grant application supports the company's new nuclear strategy by joining with other utilities and technology providers to more cost effectively advance a standard technology design, while leveraging lessons learned from the industry. The collaboration aligns with Duke Energy's long-term strategy to deliver reliable, affordable, and carbon-free energy to its customers while supporting American prosperity and energy dominance.

"Public-private partnerships accelerate technology development and reduce costs and risks for customers and investors," said Harry Sideris, Duke Energy president and chief executive officer. "Our work with TVA and GE Vernova Hitachi will advance the BWRX-300, paving the way for future deployment of SMRs that strengthen grid reliability and support economic growth."

As part of Duke Energy's diverse energy mix, SMRs can play a vital role in strengthening economic prosperity while maintaining reliability at the lowest possible cost for customers. Collaboration with TVA and GVH supports the company's near-term activities to rigorously evaluate and partner with industry stakeholders to advance new nuclear generation. This includes potential SMR deployment at the Belews Creek site in North Carolina where the company plans to submit an early site permit application to the Nuclear Regulatory Commission by year-end.

More information about the grant and the project teams can be found on the Department of Energy website. 

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. 

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. 

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 

Contact: Anne McGovern
24-Hour: 800.559.3853 

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SOURCE Duke Energy