The Tennessee Valley Authority is joining forces with Canadian and Polish companies to fund the development of a new small modular reactor design it hopes will generate new carbon-free electricity at a fraction of the cost of legacy nuclear power plants.

TVA signed a new technical collaboration agreement on Thursday providing that the utility, alongside Ontario Power Generation and Polish Synthos Green Energy, will collectively invest around $400 million to fund the development of GE Hitachi’s BWRX-300 reactor. The goal is for the reactor to be deployed at the signatories’ new nuclear plants over the next decade.