The US Energy Department has awarded $40 million to Westinghouse Electric Co. and San Diego-based General Atomics. Each of the firm will receive $20 million each.

According to the Energy Department, this award will help these organizations to develop the next generation nuclear power reactor. The prize will definitely enhance firm's conceptual design and planning work for the advance reactor.

Westinghouse Electric Co. belongs to Toshiba Corporation while General Atomics is a privately held firm.

The department has also revealed that the designs of the two companies can be used in various stages of decision making in a nuclear reactor plant. By the help of these designs now it can be resolute to build a demonstration reactor that is able to produce electricity as well as process heat for the industrial applications.

At the same time, the reactors can be configured for a small technical and safety risk with highly reliable operations.

US Energy Secretary Steven Chu has said that the country needs to recapture the nuclear energy industry now for the future economic growth. So, this grant is of utmost importance.