Tuesday, June 17, 2008
Interview with Jose Reyes, Jr., NuScale Power
We recently ran into Jose Reyes, Jr., the Chief Technical Office of Corvallis-based NuScale Power (www.nuscalepower.com), a startup which has taken on quite an unusual area for developing its technology: nuclear power. NuScale, which is based on research from Oregon State University, is looking to commercialize nuclear reactor technology. We chatted briefly with Jose to hear about the firm's technology, recent (unannounced) venture funding, and what the hurdles might be for it to get to market.
Tell us about the company--what does NuScale do?
Jose Reyes, Jr.: NuScale Power is a spinout from Oregon State University. It's based on a technology developed from some technology and research that was done in early 2000. We're developing a small, light water reactor that is modular, very easy to deploy, and has superior economics as part of the goal. Since 2003, when we completed the original work, OSU continued to invest in us, we developed it, and recently in July of 2007 we formed the company NuScale Power Incorporated.
You have some venture funding?
Jose Reyes, Jr. CMEA and Maurice Gunderson is our lead investor.Tell us a bit about what's special about your technology, and what are people looking to do it?
Jose Reyes, Jr.It has applications both domestically and globally. The fact that it's small, it's a 45 megawatt power plant. It's small, so it can be completely fabricated and manufactured in the U.S., and it avoid the construction pinpoints, and the availability of materials. So that makes it unique. Also, construction time. We can deploy these in a two year time frame. The other part of it is security. It's a very secure system. Basically these reactors and containment vessels are built in secure facilities, shipped to the site, and site in a pool below-grade, it's very low profile.
What do you think about the politics around the deployment of nuclear, how big of a hurdle is this for you?
Jose Reyes, Jr. Early on, maybe five years ago we might have thought twice about commercializing this. The public had a lot of concern about nuclear. But the situation now has changed dramatically. It's being recognized that because it's carbon free, it's a real option in this country, and in the world. That market is deploying around the world, and in that situation we think we can play a role in that market.
When do you think deployment might actually happen?
Jose Reyes, Jr. Our immediate challenge is getting design certified. Any nuclear power plant in the United States must be certified by the Nuclear Regulatory Commission. In July will be a first real public meeting with the NRC. We've had a few preliminary meetings with them, called a pre-application meeting, where we laid out our concept in detail. And we'll be laying out a schedule for that. We're very encouraged, because light water technology is well known and understood, we think we can march through a normal certification process, which frankly takes three to five years. That's always the big work, that's probably the biggest challenge.