The Babcock & Wilcox Co. accelerates search for mPower investors
- November 13, 2013
The Babcock & Wilcox Co. is ramping up its efforts to find investors for the development of its small, modular nuclear reactor.
Much of the work on the B&W’s mPower program is taking place in the Lynchburg area.
B&W, based in Charlotte, N.C.., said it is accelerating the ongoing search for additional equiity partners ready to help finance licensing and other preconstruction activities needed to deploy the mPower Plant by 2022.
E. James Ferland, the president and CEO of B&W, said in a statement the company is looking for investors “to ensure the Generation mPower venture has adequate resources over the next several years to fully capture these opportunities.”
Generation mPower LLC (GmP) is the joint development company formed by B&W and Bechtel in 2010. B&W has invested more than $360 million in the mPower program.
B&W has hired JP Morgan as a financial adviser to assist in finding investors.