The present report summarizes and discusses the recent results on developing a modern, nuclear grade FeCrAl alloy designed to have enhanced radiation tolerance and weldability. The alloys used for these investigations are modern FeCrAl alloys based on a Fe-13Cr-5Al-2Mo-0.2Si-0.05Y alloy (in wt.%, designated C35M). Development efforts have focused on assessing the influence of chemistry and microstructure on the fabricability and performance of these newly developed alloys. Specific focus was made to assess the weldability, thermal stability, and radiation tolerance.