The U.S. Department of Energy announced a funding program Friday that brings a government stamp of approval to a project Westinghouse Electric Co. expects will be a major part of the nuclear energy company's portfolio over the next several decades.

Under the new program, the federal government plans to help pay for the design and licensing of small modular reactors, which are about one-third the size of traditional reactors.

"We can either develop the next generation of clean energy technologies, which will help create thousands of new jobs and export opportunities here in America, or we can wait for other countries to take the lead," said Energy Secretary Steven Chu in a statement.

Cranberry-based Westinghouse has positioned its small modular reactor, or SMR, to be the company's biggest research and development project over the next several years, and it plans to market the bite-sized energy providers to nontraditional markets such as suburbs.

Small modular nuclear reactors can work in markets without the electrical grid or water supply needed for larger models. The design process can take years and several rounds of review by the Nuclear Regulatory Commission.

The new program will fund as many as two SMR designs in the hopes of deploying the reactors by 2022. No financial details were provided.

Westinghouse's large-sized reactor, the AP1000, secured certification from the Nuclear Regulatory Commission in December. The cost of its design was supported through a cost-sharing agreement with the Energy Department.