General Electric (NYSE:GE) Gets Thumbs Up From DOE
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General Electric (NYSE:GE), along with its nuclear partner Hitachi (OTC:HTHIF) will make a generation IV reactor being called PRISM, which is a sodium-cooled fast reactor in order to make vast amount of electricity by the used fuel storage. Even though Nuclear power is associated with destruction, it’s actually the safest source of power generation these days, although it’s not being used at its maximum potential. That is where General Electric (NYSE:GE) comes in. General Electric (NYSE:GE) will ensure that the energy used is recycled to its maximum potential so it can be used for power generation in the long run.
The PRISM reactor will lower the volume of used nuclear fuel present in U.S by 96% and at the same time provide 10% of the nation’s electricity. Advanced reactor designs have been around for quite some time, except that this time with the help of U.S Department of Energy, it’ll be properly commercialized.
Department of Energy put the Hitachi (OTC:HTHIF) Nuclear Energy to carry out research and development projects that are aimed at producing electricity from nuclear means. Department of Energy will assess the PRISM project throughout the operation. This will reduce the risk factors involved in making the reactor. Department of Energy will also help in observing the intricacies of the design of the reactor.
There are three elements that are to be considered before starting a nuclear project: safety of the environment, efficiency of the project and the finances required. The Department of Energy review will take up to 10-15 years during which the project will need approval for construction. The main thing that is being considered is the safety of the surroundings/environment, which matters more than other things and which will be modernized to cope with any mishaps.
Department of Energy recognizing and investing in PRISM only means that U.S is quite serious about the project, and wants to commercialize it before starting to work on it. General Electric (NYSE:GE) is deemed capable enough to handle the project; the company is also eyeing a site in United Kingdom. Introducing PRISM to U.S and U.K means that these two countries will have no problem for the next 100 years as far as electricity is concerned.
Considering the potential of this project, investors will be swarming around General Electric (NYSE:GE), investing in the company because all of a sudden, General Electric (NYSE:GE) has become one of the most influential stocks around as far as energy sector is concerned. And with the plans to install PRISM in U.K, the company’s stock will only go higher from now on.
But there’s a catch to that. The review could take up to 10-15 years, as we have mentioned above, this means there isn’t any immediate guarantee whether it will affect the stock or not. All that could be said for now is that General Electric (NYSE:GE) is a company that will be among the most lucrative companies in the future; and its stock will be the most wanted stock on the market.