Holtec is moving forward on its $7.4 billion plan to build four small modular reactors and a "supersize" reactor factory in New Jersey.

Why it matters: Holtec, a legacy player in the nuclear energy industry, is among the handful of companies racing to develop small-scale nuclear reactors.

Details: Holtec said in a news release that it submitted Part II of a federal loan application yesterday to the Energy Department Loan Program Office.

Additional details: The company also said in the release that Entergy Corporation, which operates nuclear power plants, signed a memorandum of agreement with Holtect to evaluate the feasibility of deploying one or more SMR-160s.

What's happening: The federal loan that Holtec referred to in the release would help fund the company's plan to build four of its SMR-160 reactors at its heavy-manufacturing plant in Camden, New Jersey.

Of note: Holtec's loan application says that its first SMRs might also be built at the company's Oyster Creek plant site in southern New Jersey, which it bought from Exelon in 2018.

Zoom in: "The new giga-manufacturing facility, to be built at a yet unidentified location, will be a much larger version of the modern heavy fabrication plant on Holtec’s Camden technology headquarters," the company said.

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