Currently, access to fast spectrum irradiation capabilities for general purposes is very limited; at present, Russia is the only country that possesses fast neutron testing capabilities. Thus, the development of a fast neutron testing facility is important for the U.S. to maintain its global nuclear technology leadership. In accordance with the Nuclear Energy Innovation Capabilities Act (NEICA), the Department of Energy has moved forward with completing an assessment and devising a strategy to develop the Versatile Test Reactor (VTR), which offers testing capabilities that are key to the development and deployment of next generation reactor designs. By enabling materials testing and fuel qualification, the VTR can allow for the deployment of new materials and fuels on advanced reactors, potentially improving their performance in terms of heat and power output, operating life, etc. DOE National Laboratories are currently working together with the NRC, industry, and academia to realize the VTR by 2026.