Progress w/Modular Nukes: Nuscale and X-Energy Forge Ahead

CA Energy Commission approves staff recommendation to extend life of Diablo Canyon Nuclear Plant to 2030 for grid reliability; Western municipal utilities OK plan to buy energy from 462 MW NuScale modular nuclear plant, despite price jump from $58 to $89/MWh; Dow and nuclear startup X-energy to develop small nuclear plant at Dow industrial site on Gulf Coast; Startup Universal Hydrogen successfully flies 40-seat plane - powered mainly by hydrogen - during short test flight; China’s Sinopec breaks ground on $831 mn, 390 MW, green H2 project in Mongolia; Saudi 2.2 GW green H2 project lines up $8.5 bn in construction financing; Tesla moving forward on V2G, perhaps as early as 2025; U.S. Postal Service to buy 9,250 commercial off-the-shelf EVs - the Ford EV Transit - and 14,000 charging stations; China’s Farasis Energy to supply low-density sodium ion batteries to Jiangling Motors, Chinese EV maker owned largely by Renault; Toyota plans on KY auto plant for 100% made-in-US EV.

1) The CA Energy Commission approves a staff recommendation for extension 2.2 of 2.2, GW Diablo Canyon Nuclear Plant citing grid reliability.

2) Despite price increase from $58 to $89/MWh, consortium of western municipal utilities continues commitment to buy energy from NuScale’s 462 MW modular nuke. 

3) Dow and nuclear startup, X-energy will develop small nuclear plant at a Gulf Coast Dow industrial site. 

4) Startup Universal Hydrogen flies 40-seat plane mainly on hydrogen during part of 15-minute test flight. Goal is commercial hydrogen-powered flights by 2025. 

5) Chinese refining co Sinopec initiates $831 mn, 390 MW, green H2 project in Mongolia, supplied by 270 MW of solar & 450 MW of wind. 

6) Saudi Arabia's 2.2 GW green H2 project gets $8.5 bn in financing. Project will use 4.6 GW of solar & wind energy to make ammonia for U.S. co Air Products. 

7) Tesla to offer bi-directionality in its models over next two years. 

8) USPS to buy 1st 9,250 Ford EV Transits - and 14,000 charging stations – as part of plan to buy over 66,000 electric vehicles.

9) China’s Farasis Energy will provide lower-density sodium ion batteries to Jiangling Motors, Chinese EV co owned largely by Renault. Mass production to begin by mid-year.

10) Toyota to build Kentucky plant for 100% made-in-USA EV, w/target of 200,000 US EVs/year.