Nuclear Energy Fund (Tennessee)

Nuclear Energy Fund (Tennessee) is sponsored by State of Tennessee. While primarily focused on nuclear fission, Tennessee's Nuclear Energy Fund is open to fusion energy projects. Type One Energy's Infinity prototype was the first recipient from this initiative.

Tennessee Governor requests nearly $100M for energy innovation in proposed spending plan | SSTI Tennessee Governor requests nearly $100M for energy innovation in proposed spending plan On Feb. 10, Tennessee Gov. Bill Lee presented his 2025 State of the State address along with his FY 2025-2026 budget proposal and legislative agenda.

Building on the theme of both his speech and agenda, “Tennessee innovates,” Lee seeks to position the Volunteer State as the epicenter of energy innovation, especially nuclear power. Over the past several years, the governor has presented a vision for Tennessee to lead the nation on nuclear energy initiatives and expand the state’s leadership in “the nuclear energy ecosystem.

” In 2023, Tennessee established a Nuclear Energy Advisory Council through an executive order that was tasked to provide the administration with recommendations and guidance to advance the Volunteer State’s nuclear energy innovations and investment.

Additionally, the state’s FY 2023-2024 approved budget funded the administration’s $50 million Nuclear Energy Fund to support nuclear power-related businesses and education/training programs across Tennessee. To date, the state has approved $13. 5 million in grants, primarily to state universities, within that fund.

In this year’s address and budget , the governor proposed several funding recommendations and new initiatives to further the state’s development of and accomplishments in its nuclear energy research and innovation.

Proposals include: $50 million to create the Small Modular Reactor (SMR) Grant Fund to support the Tennessee Valley Authority’s Clinch River Nuclear SMR project, which aims to position Tennessee as “a leader in next-generation nuclear energy;” $10 million to the Nuclear Energy Fund to attract advanced nuclear technology companies and industry initiatives; $10 million in funding to the Governor’s Investment in Vocational Education (GIVE) to support nuclear workforce education, as recommended by the state’s Nuclear Energy Advisory Council; $2.

6 million to develop/establish a regulatory framework for commercial nuclear fusion power; and $20 million for the Federal Grant Matching Fund, to support proposals from Tennessee universities and businesses applying for research funding from federal agencies like the National Science Foundation (NSF) and Department of Energy (DoE).

As part of Lee’s overall economic opportunity and workforce development agenda for Tennessee, he is also proposing: $25 million for the Tennessee FastTrack program , which offers grants to recruit new business to the state and support workforce development; $25 million to expand the RevV Program , the state’s manufacturing voucher program to connect private companies with Tennessee’s research institutions to drive research and development and job creation; $10 million for the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Matching Funds to match federal funds assisting Tennessee startups in securing competitive research and development grants.

$6. 3 million to create a statewide Micro-Credentialing Program to develop short-term, targeted certifications - equipping Tennesseans with high-demand skills identified by industry and state partners; and $2.

27 million to develop the Tennessee Board of Regents’ Center for Workforce Development to expand workforce training for businesses and industries, including specialized onboarding and apprenticeship programs, in partnership with TN Accelerates. This article was prepared by SSTI using Federal funds under award ED22HDQ3070129 from the Economic Development Administration, U.S. Department of Commerce.

(The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the Economic Development Administration or the U.S. Department of Commerce. The bipartisan Build to Scale Reauthorization Act of 2026 was introduced on May 15 by Congresswoman Haley Stevens (MI-11) and Rep. Jim Baird (R-IN), along with several co-sponsors.

Additionally, more than sixty organizations and associations in 25 states endorsed the bill, which is designed to help Americans move new products, technologies, and medical inventions to market faster.

Nonprofit Venture Development Organizations: what they are and why the approach matters Over the past 25 years, SSTI has seen a successful model emerge for supporting regional innovation-driven economies that deserves more attention from the TBED community. Successful Venture Development Organizations (VDOs) bring the entrepreneurial mindset of an innovation startup to regional economic growth strategies.

VDOs simultaneously deliver multiple value propositions to their target service areas. Connecting companies to research assets faster: the Tennessee Innovation Exchange model The Tennessee Innovation Exchange (TNIX) is a statewide initiative designed to make it easier for companies, entrepreneurs, and investors to connect with university research expertise across Tennessee.

In this recent TBED Community of Practice webinar, speakers Chuck Layne of LaunchTN and Tom Kissane of Halo Sciences explained how they partnered with six research universities to build a shared digital platform that supports university-industry collaboration and commercialization. 1391 W 5th Avenue Ste 323, Columbus OH 43212