Youngkin Announces $10 Million Proposal For Virginia Power Innovation Fund

Governor Glenn Youngkin announced he is proposing $10 million in the upcoming budget to create the Virginia Power Innovation Fund for research and development of innovative energy technologies, including nuclear, hydrogen, carbon capture and utilization, and battery storage. Youngkin says half of the money will advance the goal ofr creating a Virginia Nuclear Innovation Hub. These funds will also include grants for higher education institutions to study Small Modular Nuclear Reactor technology, funding for nuclear workforce development, and reactor technology site exploration.