Biden took a break from his tumultuous reelection campaign to sign the act into law. Credit: Lev Radin/Pacific Press/LightRocket via Getty Images.

The Biden administration has signed the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act into law, in what the US Senate Committee on Environment & Public Works has described as “a major boost to the future of nuclear energy in America”.

The act, which received bipartisan support, will aim to streamline the regulatory approvals process of nuclear projects by directing the US Nuclear Regulatory Commission (NRC) to look for ways to speed up its licensing process for new nuclear technology.

The NRC will also be directed to improve its ability to qualify and license accident-tolerant fuels and advanced nuclear fuels.

In addition, regulatory costs will be reduced, and a “prize” will be offered to incentivise the deployment of next-generation technologies.

The development of US advanced nuclear reactors in other countries will be supported under the act as well, with the NRC encouraged to lead international forums and work with the Department of Energy to improve the process of exporting US technology to international markets, while maintaining the standards for nuclear non-proliferation.

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The act passed the Senate by a vote of 88-2 and passed the House by a vote of 393-13.

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Shelley Moore Capito, Republican Senator and ranking member of the Senate Environment and Public Works (EPW) Committee, said: “With the ADVANCE Act being signed into law, we secured a landmark win for the future of nuclear energy here in America. Getting substantive, bipartisan policy across the finish line isn’t always easy, but this is the result of years of work to build widespread consensus about the benefits of advanced nuclear reactors to our electric grid, economy, and environment.”

Senator Tom Carper, chair of the Senate Committee on EPW, described the act as a “major victory” for the climate and US energy policy.

The US remains the world’s leading producer of nuclear energy, accounting for 30% of worldwide generation. In May, President Biden signed the Prohibiting Russian Uranium Imports Act into law, prohibiting the import of Russian unirradiated, low-enriched uranium in an effort to reduce global dependency on Russia for supplies needed to produce nuclear energy.