NEW YORK -- As part of its strategy to service aging nuclear plants, GE Hitachi Nuclear Energy (GEH) will develop a cutting-edge small modular reactor in cooperation with Advanced Reactor Concepts, the company said Monday.
The move by GEH, owned 40% by Hitachi and 60% by General Electric, comes as nuclear plant builders push to introduce inexpensive reactors to stimulate growth in the industry. The recent crisis at Westinghouse Electric, and subsequent troubles born by its parent company Toshiba, has highlighted the cost risks of conventional reactors, which the SMRs are expected to replace.
