The assertion about the fuel used in US naval reactors is correct: the navy uses highly enriched uranium for fuel (HUE).
The only other use of HUE in a commercial power reactor anywhere in the world at any time (that we know of: who knows what heinous things the Soviets really did,) was Fort St. Vrain in Colorado in the 80s. That was a weird reactor with an experimental design, and a short operating life.
Such naval reactors are extremely compact, extremely power dense and deliberately primitive, relative to typical commercial fission systems. The fuel lasts for roughly 2 decades in naval service. That is, however, a naval application which is not 100% 24/7/365. I suspect in commercial power operation the fuel will not last as long, but I'm not certain.
I think this is pure bullshit. I suspect this is a clever bunch of grifters pushing a story just plausible enough to possibly shake some money out of the DOE subsidy tree. The following problems are self-evident:
1. Naval reactors are a very different animal than commercial power reactors. The NRC regulatory regime is built around commercial designs and some miraculous regulatory upheaval would be required to accept naval designs into commercial operation.
2. Reactor fuel: there is no regulatory path for supplying HEU to commercial operators. Such a thing would have to be created, despite violent, and not easiliy overcome, opposition: it's bomb fuel. The physics allow for LEU in such reactors, but then all the "reuse" saving become costs to certify and (frequently) fuel such a thing.
3. This scheme has every appearance of what NRC Directory Dale Klein had in mind in 2007 when he coined the "No Bozos" concept: the NRC doesn't tolerate nuclear stuff done on "telsa time" by nuclear newbies.