The company has notified the US Department of Energy (DOE) about its plan, and also expressed willingness to work with the DOE and other stakeholders to confirm the best path forward to develop a mutually agreeable plan during the next one to two months.
Specifically, the collaboration will focus on program milestones for continuing the cost-shared industry partnership program.
B&W president and CEO James Ferland said the B&W mPower reactor can play a significant role in meeting the US climate change goals, energy needs, and also support job and manufacturing growth.
"While we have made notable progress in developing a world-class technology, there is still significant work involved in bringing this climate-friendly technology to reality," Ferland added.
"We look forward to working with our stakeholders to find the most efficient way to move this technology toward licensing and deployment in the mid-2020 timeframe."
Up to $15m are expected to be invested by the company annually, staring from the third quarter of 2014.
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