- The GE-Hitachi Economic Simplified Boiling Water Reactor design was approved yesterday by the NRC, allowing power companies to use it in nuclear plants they may build.
- GE (GE +0.2%) is the majority owner with a 60% share in the venture, and GE has the right of first refusal for any new nuclear plant project anywhere in the world outside of Japan.
- So far, two power companies have picked the ESBWR technology for planned reactors: DTE Energy will use it for a project in Michigan, and Dominion Resources for one in Virginia.
- The move probably is not a short-term GE stock mover, but it is "one more foundation building block that can... add billions and billions in new revenues down the road," writes 24/7's Jon Ogg.