#Small Modular Reactor Market

[industrynewsupdates]

Key Drivers Fueling Growth in the Small Modular Reactor Market

The global small modular reactor (SMR) market was valued at approximately USD 6.14 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2030. This growth is primarily driven by the potential of SMRs to offer more flexible and cost-effective solutions for nuclear power generation. SMRs are designed to be built in factories and shipped to their deployment sites, which significantly reduces both construction time and costs when compared to traditional large-scale reactors. This factory-built approach is a key advantage, making SMRs an attractive option for meeting energy demands in a more efficient and economical manner.

One of the standout features of SMRs is their enhanced safety capabilities. These reactors are equipped with passive safety systems that operate without the need for external power or human intervention in the event of an emergency, significantly improving safety over traditional nuclear plants. Additionally, SMRs can be deployed in remote or smaller grid locations where large nuclear plants are impractical or infeasible. This flexibility in deployment opens up new opportunities for nuclear power generation in areas that would otherwise rely on less reliable or more expensive energy sources.

SMRs also contribute to grid stability and can complement renewable energy sources like wind and solar by providing a consistent and reliable low-carbon energy output. This makes SMRs a valuable component in the global transition to cleaner energy systems and in efforts to reduce greenhouse gas emissions. As nations strive to meet their climate goals, SMRs offer a potential solution for maintaining energy security while reducing the reliance on fossil fuels.

However, the widespread adoption of SMRs is not without challenges. One of the primary concerns is the high upfront costs associated with developing and deploying these reactors. The initial investment required for SMRs is considerably higher than that of many alternative energy sources, making it difficult for investors to justify the expense. This cost barrier could slow down the adoption of SMRs, particularly in markets where cost-effectiveness is a major consideration.

Additionally, the complex and highly regulated nature of the nuclear industry poses another obstacle. The regulatory framework for nuclear technology is stringent, and the approval process can be time-consuming and costly. Delays in regulatory approval can significantly increase development timelines and costs, which in turn may discourage potential developers from pursuing SMR projects. Public concerns about the safety of nuclear technology, including issues related to waste management and the potential for accidents, also persist. These concerns can affect the public's acceptance of SMRs and hinder political and social support for their deployment.

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FAQ: Small Modular Reactor (SMR) Market Overview (2024–2030)

1. What is the projected market size for Small Modular Reactors (SMRs) by 2030?

The global SMR market was valued at approximately USD 6.14 billion in 2023 and is expected to reach USD 7.69 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2030.

2. What factors are driving the growth of the SMR market?

Key drivers include:

• Flexibility and Cost-Effectiveness: SMRs are factory-built and shipped to sites, reducing construction time and costs compared to traditional large reactors.

• Enhanced Safety Features: They offer passive safety systems and can be deployed in remote or smaller grid locations where larger plants are not feasible.

• Support for Clean Energy Transition: SMRs can complement renewable energy sources, providing a reliable, low-carbon energy source and supporting global efforts to reduce greenhouse gas emissions.

3. Which type of SMR accounted for the largest market share in 2023?

Heavy water reactors dominated the market with a revenue share of over 42.9% in 2023. Their ability to efficiently use natural uranium reduces the need for expensive uranium enrichment processes, making them attractive in regions with abundant natural uranium resources but limited enrichment capabilities.

4. Which SMR application is expected to grow the fastest?

The desalination application is anticipated to grow at the fastest rate over the forecast period. SMRs can provide a stable and continuous supply of high-quality thermal energy needed for desalination processes, benefiting regions facing water scarcity from a reliable and sustainable source of fresh water.

5. Which regions are leading in SMR development?

• North America: Dominated the market with a revenue share of 25.4% in 2023. The demand is driven by the region's focus on transitioning to cleaner energy sources and achieving carbon reduction goals.

• Asia Pacific: Expected to grow at the highest CAGR during the forecast period, driven by increasing energy needs, rapid economic growth, and significant investments in nuclear technology.

• Europe: Witnessing an increasing demand for SMRs as part of its broader strategy to decarbonize its energy system and ensure energy security.

6. Who are the key players in the SMR market?

Prominent companies in the SMR market include:

• Brookfield Asset Management

• Moltex Energy

• General Electric Company

• ULTRA SAFE NUCLEAR

• X Energy LLC

• Fluor Corporation

• Rolls-Royce plc

• Westinghouse Electric Company LLC

• Terrestrial Energy Inc.

• General Atomics

Order a free sample PDF of the Small Modular Reactor Market Intelligence Study, published by Grand View Research.

[researchinenergyandpower]

According to a research report, Small modular reactor market is anticipated to grow from estimated USD 6.00 billion in 2024 to USD 7.14 billion by 2030, at a CAGR of 3.0% during the forecast period. The growth in the market will be attributed to the the growing demand for clean, reliable energy and the need for greater flexibility in power generation. Their compact design allows for easier construction and quicker commissioning, which can help reduce capital costs compared to traditional large-scale reactors. Additionally, advancements in safety features and the potential for integration with renewable energy sources enhance their appeal in the transition to a low-carbon economy.

[global-research-report]

Decentralized Power, Central to Progress: The Small Modular Reactor Revolution

Small Modular Reactor (SMR) Market Growth & Trends

The global small modular reactor (SMR) market was valued at USD 6.14 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2030. This growth is fueled by the increasing demand for flexible, cost-efficient, and low-carbon energy solutions, especially as global economies transition toward more sustainable energy systems.

SMRs are innovatively designed nuclear reactors that are factory-built, modular, and transportable, offering considerable advantages over traditional large-scale nuclear plants. These advantages include reduced construction times and costs, as well as greater deployment flexibility, especially in remote locations or smaller electrical grids where conventional reactors are impractical.

In addition to their adaptability, SMRs incorporate advanced passive safety features, enhancing operational safety and reducing the risks traditionally associated with nuclear energy. Their ability to complement renewable energy sources by providing stable baseload power makes them a critical asset in decarbonizing the energy sector while maintaining grid stability.

However, despite these benefits, several challenges hinder market expansion. The high upfront capital costs associated with developing and deploying SMRs can deter investors when compared with alternative energy technologies such as solar, wind, or natural gas. Moreover, the complex and rigorous regulatory environment for nuclear technology can cause significant delays and increase compliance costs, adding further uncertainty for project developers. Public apprehensions around nuclear safety and radioactive waste management also remain significant barriers to widespread acceptance and deployment.

Market Strategies and Industry Dynamics

To overcome these barriers and gain a competitive edge, key industry players are engaging in:

Strategic partnerships and public-private collaborations aimed at securing funding, accelerating approvals, and increasing public trust.

A strong focus on modularity and scalability, which allows for easier site integration, phased capacity expansions, and cost control.

Emphasis on enhanced safety and reliability, leveraging state-of-the-art design features to reduce operational risks and improve system resilience.

These strategies are collectively shaping the roadmap for broader adoption and long-term viability of SMRs in the global energy mix.

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Global Small Modular Reactor Market Segmentation

Grand View Research has segmented the small modular reactor market on the basis of product type, application, and region: 

Product Type Outlook (Revenue, USD Million, 2018 - 2030)

Heavy Water Reactors

Light Water Reactors

High-temperature Reactors

Others

Application Outlook (Revenue, USD Million, 2018 - 2030)

Power Generation

Desalination

Industrial

Hydrogen Production

Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Asia Pacific

China

Japan

India

South Korea

Central & South America

Brazil

Argentina

Middle East & Africa

Key Small Modular Reactor Companies

The small modular reactor market is led by several prominent companies, including:

Fluor Corporation – A U.S.-based engineering and construction firm that provides nuclear and energy solutions across diverse sectors including infrastructure, energy transition, and technology through three key business segments: Energy Solutions, Urban Solutions, and Mission Solutions.

Rolls-Royce plc – A global manufacturer specializing in propulsion and power systems. Rolls-Royce is advancing its role in the SMR space through innovation in civil nuclear applications

and is a key player in the UK’s SMR program.

Other major companies shaping the industry include:

Brookfield Asset Management

Moltex Energy

General Electric Company

ULTRA SAFE NUCLEAR

X Energy LLC

Westinghouse Electric Company LLC

Terrestrial Energy Inc.

General Atomics

These players collectively represent a significant share of the market and are actively influencing SMR design, commercialization, and policy frameworks.

Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.

[medicaldevicesindustrynews]

U.S. Nuclear Power Market: Growth Drivers, Challenges, and Future Outlook

The U.S. nuclear power market is experiencing significant growth, driven by increasing electricity demand, advancements in reactor technologies, and a focus on reducing greenhouse gas emissions. In 2024, the market was valued at approximately USD 13.3 billion and is projected to reach USD 19.6 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.1% from 2025 to 2032. Rising…

[mohitbisresearch]

The Europe small modular reactor market, valued at $1,790.0 million in 2023, is expected to reach $1,925.0 million by 2033, exhibiting a robust CAGR of 0.73% during the forecast period 2023-2033.

[1-2-3-4-4498-0]

Small Modular Reactors (SMRs) are reshaping nuclear energy with various types like Heavy Water, Light Water, and Fast Neutron Reactors. Designed for applications such as power generation, desalination, and process heat, SMRs offer scalable, cost-effective solutions.

[futuretonext]

The North America Small Modular Reactor Market size is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2023-28, due to its surging application in the industrial sector or remote areas with limited grid capacity. The cost-effectiveness benefits of the small modular compared to the conventional large-scale reactor have been the prime factor leading to the market growth in the region, thus aiding in enhancing the market size. The North American region countries such as the US & Canada have been one of the leading producers of nuclear energy across the globe.

[batboyblog]

Things Biden and the Democrats did, this week #20

May 24-31 2024

The EPA awards $900 million to school districts across the country to replace diesel fueled school buses with cleaner alternatives. The money will go to 530 school districts across nearly every state, DC, tribal community, and US territory. The funds will help replace 3,400 buses with cleaner alternatives, 92% of the new buses will be 100% green electric. This adds to the $3 billion the Biden administration has already spent to replace 8,500 school buses across 1,000 school districts in the last 2 years.

For the first time the federal government released guidelines for Voluntary Carbon Markets. Voluntary Carbon Markets are a system by which companies off set their carbon emissions by funding project to fight climate change like investing in wind or solar power. Critics have changed that companies are using them just for PR and their funding often goes to projects that would happen any ways thus not offsetting emissions. The new guidelines seek to insure integrity in the Carbon Markets and make sure they make a meaningful impact. It also pushes companies to address emissions first and use offsets only as a last resort.

The IRS announced it'll take its direct file program nationwide in 2025. In 2024 140,000 tax payers in 12 states used the direct file pilot program and the IRS now plans to bring it to all Americans next tax season. Right now the program is only for simple W-2 returns with no side income but the IRS has plans to expand it to more complex filings in the future. This is one of the many projects at the IRS being funded through President Biden's Inflation Reduction Act.

The White House announced steps to boost nuclear energy in America. Nuclear power in the single largest green energy source in the country accounting for 19% of America's total energy. Boosting Nuclear energy is a key part of the Biden administration's strategy to reach a carbon free electricity sector by 2035. The administration has invested in bring the Palisades nuclear plant in Michigan back on-line, and extending the life of Diablo Canyon in California. In addition the Military will be deploying new small modular nuclear reactors and microreactors to power its installations. The Administration is setting up a task force to help combat the delays and cost overruns that have often derailed new nuclear projects and the Administration is supporting two Gen III+ SMR demonstration projects to highlight the safety and efficiency of the next generation of nuclear power.

The Department of Agriculture announced $824 million in new funding to protect livestock health and combat H5N1. The funding will go toward early detection, vaccine research, and supporting farmers impacted. The USDA is also launching a nation wide Dairy Herd Status Pilot Program, hopefully this program will give us a live look at the health of America's dairy herd and help with early detection. The Biden Administration has reacted quickly and proactively to the early cases of H5N1 to make sure it doesn't spread to the human population and become another pandemic situation.

The White House announced a partnership with 21 states to help supercharge America's aging energy grid. Years of little to no investment in America's Infrastructure has left our energy grid lagging behind the 21st century tech. This partnership aims to squeeze all the energy we can out of our current system while we rush to update and modernize. Last month the administration announced a plan to lay 100,000 miles of new transmission lines over the next five years. The 21 states all with Democratic governors are Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, Washington, and Wisconsin.

The Department of Transportation announced $343 million to update 8 of America's oldest and busiest transportation stations for disability accessibility. These include the MBTA's the Green Line's light-rail B and C branches in Boston,  Cleveland's Blue Line, New Orleans'  St. Charles Streetcar route, and projects in San Francisco and New York City and other locations

The Department of interior announced two projects for water in Western states. $179 million for drought resilience projects in California and Utah and $242 million for expanding water access in California, Colorado and Washington. The projects should help support drinking water for 6.4 million people every year.

HUD announced $150 million for affordable housing for tribal communities. This adds to the over $1 billion dollars for tribal housing announced earlier in the month. Neil Whitegull of the Ho-Chunk Nation said at the announcement "I know a lot of times as Native Americans we've been here and we've seen people that have said, ‘Oh yeah, we'd like to help Indians.’ And they take a picture and they go away. We never see it, But there's been a commitment here, with the increase in funding, grants, and this administration that is bringing their folks out. And there's a real commitment, I think, to Native American tribes that we've never seen before."

Secretary of State Antony Blinken pledged $135 million to help Moldavia. Since the outbreak of Russia's war against neighboring Ukraine the US has given $774 million in aid to tiny Moldavia. Moldavia has long been dependent on Russian energy but thanks to US investment in the countries energy security Moldavia is breaking away from Russia and moving forward with EU membership.

The US and Guatemala launched the "Youth With Purpose” initiative. The initiative will be run through the Central America Service Corps, launched in 2022 by Vice President Harris the CASC is part of the Biden Administration's efforts to improve life in Central America. The Youth With Purpose program will train 25,000 young Guatemalans and connect with with service projects throughout the country.

Bonus: Today, May 31st 2024, is the last day of the Affordable Connectivity Program. The program helped 23 million Americans connect to the internet while saving them $30 to $75 dollars every month. Despite repeated calls from President Biden Republicans in Congress have refused to act to renew the program. The White House has worked with private companies to get them to agree to extend the savings to the end of 2024. The Biden Administration has invested $90 Billion high-speed internet investments. Such as $42.45 billion for Broadband Equity, Access, and Deployment, $1 billion for the The Middle Mile program laying 12,000 miles of regional fiber networks, and distributed nearly 30,000 connected devices to students and communities, including more than 3,600 through the Tribal Broadband Connectivity Program

[mariacallous]

A new Pew Research Center poll finds partisan polarization among Americans at its highest level in decades. As just the latest example, House Republicans passed a budget bill without a single Democratic vote. But there is at least one issue on which both sides of the aisle can increasingly agree: The United States needs to re-embrace nuclear energy and retake its role as a global leader in nuclear power technology.

Last month, U.S. President Donald Trump signed four executive orders aimed at dramatically increasing nuclear power generation in the United States. While those orders correctly identify several areas for reform, the executive branch cannot overcome existing barriers on its own. Democrats and Republicans in Congress need to strengthen efforts to build a reinvigorated nuclear sector in the United States, as exemplified by a bipartisan bill introduced in May aimed at developing an export strategy for civilian nuclear energy.

Operationalizing a U.S. nuclear resurgence requires agreeing on an ambitious goal and working together to realize it. Just as Trump in his first term announced Operation Warp Speed to bring a COVID-19 vaccine to market, both parties should set aside partisan differences and back a Nuclear Operation Warp Speed with a target of building 20 gigawatts of new nuclear capacity by 2035.

Nuclear energy is undergoing a resurgence. Beyond the growing recognition among environmentalists that curbing greenhouse gas emissions will be easier and cheaper if nuclear is part of the mix, there are two additional reasons for the focus on nuclear energy that have broad bipartisan support.

First, after two decades of flat electricity demand, it is set to surge in the United States in the coming years to meet the demands of data centers for artificial intelligence, in addition to the electrification of cars, heating systems, and industrial processes. According to a new report by the International Energy Agency (IEA), electricity demand from data centers worldwide is set to more than double by 2030. Given the need for data centers to rely on large quantities of power that runs 24/7 and 365 days per year, nuclear energy’s high reliability makes it particularly attractive.

For all the attention paid to surging natural gas investment to meet the power needs of AI, the report finds that by 2035 nuclear power will contribute just as much as gas to meeting increases in data center electricity demand—and the longer-term potential is even larger given the longer time frame for advanced nuclear technology to come online. Big tech firms, including Microsoft, Google, and Amazon, have all signed deals to buy new nuclear power for data centers—and even to restart a reactor at Three Mile Island. Just last week, Meta signed a 20-year deal with Constellation to buy power from a nuclear plant in Illinois that was at risk of prematurely closing.

Second, the United States’ geostrategic influence and national security are undermined by ceding nuclear leadership to Russia and China. Russia is building more nuclear power plants abroad today than any other country, including in Bangladesh, China, Egypt, India, Iran, and Turkey. When domestic construction is included, China leads the world in the build-out of nuclear power. Of the 58 reactors currently under construction in 17 countries worldwide, 80 percent are of Russian or Chinese origin. These include not only traditional reactor designs, but also advanced nuclear technologies that will dominate future growth in the nuclear energy market, including small modular reactors.

Both Beijing and Moscow view nuclear energy leadership as a geostrategic priority. They provide vast state financing to state-owned nuclear companies, which then offer emerging and developing countries low-interest loans and contracts that allow them to build, own, and operate the plants. In this way, China and Russia not only make it hard for companies from other nations to compete. They also ensure that buyers become indebted to them—and dependent on their expertise and supply of nuclear fuel. These arrangements allow China and Russia to deepen their economic and political influence over the countries buying their technology. The United States prides itself on its safety standards, security culture, and nonproliferation stance, but when the United States is not the technology supplier, it does not spread those standards, cultures, and policies to the purchasing countries.

To put the goal of 20 gigawatts (GW) of new nuclear power in the United States by 2035 in context, this compares to current U.S. nuclear generation capacity of around 100 GW. Although only about 6 GW of new capacity has been added over the past 35 years, more than 50 GW were added in the 1980s, showing that major buildouts have been done before. While the goal is ambitious, fast-tracking even a handful of initial reactors to be under construction by 2030 would build the momentum for additional projects by establishing robust supply chains and a ready workforce.

While the U.S.-China race for AI leadership demands power be added to the grid more quickly than 2035, focusing exclusively on speed would lock the United States into currently operating nuclear technology and forgo the longer-term opportunity to build leadership in advanced nuclear technologies that will take time to develop.

Elements of Trump’s executive orders offer promising avenues for reforming U.S. nuclear policy and align broadly with bipartisan reforms set forth in the 2024 ADVANCE Act. Thoughtful implementation will be necessary to avoid introducing delays due to regulatory churn and undermining necessary safeguards, nonproliferation controls, and public confidence in nuclear energy.

A successful Nuclear Operation Warp Speed should bring down costs, eliminate delays, and ensure a secure fuel supply. Today, the key challenge for nuclear energy is cost. The causes of delays and cost overruns include immature designs and supply chains, regulatory burdens, other first-of-a-kind issues, and megaproject management failures. When these issues are addressed, analysis shows that the costs of nuclear energy deployed at scale can compete favorably with other clean energy sources on a power generation basis. What’s more, the overall system costs for generation and transmission of low-carbon electric power supply are much lower when nuclear energy is included.

The list of steps the Trump administration and Congress must take to overcome these challenges is long. It requires addressing issues ranging from spent nuclear fuel disposition to workforce development to fuel supply. To start, policymakers should focus on three key policy reforms: financing, regulation, and exports.

First, the government should increase financial support for new nuclear reactors and fuel supply infrastructure. Doing so is justified to value the carbon-free electricity; to compete with extensive Russian and Chinese government support; to overcome the extra costs of first-of-a-kind projects to restart a shuttered U.S. nuclear industry; and to address the mismatch between a nuclear plant’s 60- to 80-year lifespan and the 30-year cost recovery period expected by financial markets.

One promising approach is a milestone-based payment model, similar to that used by NASA to jump-start a private space transportation sector in the United States. Existing loan guarantees and tax credits are effective tools, and Energy Secretary Chris Wright was right to encourage Congress to retain current nuclear tax incentives. The Defense Production Act is also a powerful tool to secure the nuclear fuel supply, as proposed in Trump’s executive orders. Federal agencies can use government procurement of future power generation to stimulate demand.

Second, the federal government should reduce nuclear regulatory and permitting burdens while protecting public health and safety. Reform of the Nuclear Regulatory Commission (NRC) should streamline the environment review process, as a major new report from the Center on Global Energy Policy explains. Trump’s orders also direct NRC reform—including streamlining regulations, establishing fixed deadlines for reviews, reorganizing the structure, reducing staffing, and establishing a process for more and faster licensing—although in ways that risk undermining the efficiency and effectiveness of the agency if they are implemented without adequate care and independence.

Congress should eliminate the so-called mandatory hearing, which only adds time and cost to new reactor licensing. The NRC should improve its procedures based on the lessons of the last U.S. nuclear reactors to come online in Georgia in 2023 and 2024, which ran far over cost and schedule.

Third, the U.S. government should support its nuclear industry’s global leadership by providing diplomatic support and export financing for companies building projects abroad. Bipartisan bills such as the Civil Nuclear Export Act, as well as Trump’s new executive orders, aim to increase the Export-Import Bank’s financing capabilities for U.S. nuclear projects in other countries. In its reauthorization of the Development Finance Corporation this year, Congress should give the agency more resources to expand its nuclear expertise and its investment authorities.

Finally, the United States should keep pressing the World Bank to lift its restrictions on financing nuclear projects and develop its capacity for assistance in this area, as World Bank President Ajay Banga suggested earlier this year.

In today’s new age of great-power competition, the United States faces three related threats: competition from China and Russia for leadership in the construction and export of nuclear technology; competition for leadership in the transformational new technology of artificial intelligence, which requires vast amounts of electricity; and competition for leadership in the clean energy technologies that will be necessary to address the threat of climate change in the decades to come. Nuclear energy is key to meeting all three competitive challenges.

Democrats and Republicans should continue making nuclear energy a rare bright spot of bipartisan cooperation, working together to build out nuclear power, reinvigorate the U.S. nuclear industry, and assert leadership in advanced nuclear technology.

[beardedmrbean]

Facebook parent Meta on Tuesday inked a 20-year deal with power giant Constellation Energy to keep a large Illinois nuclear plant running until mid-century.

Why it matters: It's a big addition to a hot power trend — big tech looking to reactors big and small to meet AI's electricity thirst with zero-carbon energy.

Driving the news: The companies announced a 20-year power purchase agreement for the 1.1-gigawatt Clinton Clean Energy Center in Illinois.

The plant — which provides enough power for over 800,000 homes — had been slated to retire in 2027.

Constellation, with the Meta deal, now intends to continue operations until 2047 if federal regulators grant an extension it began seeking last year.

How it works: The power will keep feeding the regional grid, but Meta's financing helps enable the plant's relicensing and extended operations.

"Securing clean, reliable energy is necessary to continue advancing our AI ambitions," Urvi Parekh, Meta's head of global energy, said in a statement.

It comes after Microsoft's 2024 deal with Constellation to revive a shuttered reactor at Pennsylvania's Three Mile Island (not the damaged one).

State of play: Meta and Constellation didn't provide cost details beyond noting it's a multibillion-dollar proposition.

The agreement will "preserve 1,100 high-paying local jobs; deliver $13.5 million in annual tax revenue; and add $1 million in charitable giving to local nonprofits over five years," they said.

Catch up quick: Clinton had been slated for early closure in 2017, but state legislation created an emissions credit program that brought a decade's worth of support.

The new deal with Meta is a "market-based solution" that replaces those credits and "ensures long-term operations of the plant without ratepayer support," the companies said.

The big picture: Joe Dominguez, Constellation's CEO, said Meta agrees that "supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy."

The company pointed to a Brattle Group study it commissioned, which found that shutting the plant at the end of 2026 would boost emissions by 34 million metric tons of CO2 over 20 years.

That's "the equivalent to putting approximately 7.4 million gasoline-powered cars on the road for a year," today's announcement states.

What we're watching: The growing mix of big tech deals to support new reactors of various sorts, including small modular tech, though they're typically early stage and aspirational.

Google, Amazon and other heavyweight players are involved, and action includes Meta, too.

In late 2024, it issued a "request for proposals" that targets a large pipeline — one to four gigawatts — of new generation.

This morning, Meta said it has received over 50 qualified submissions and identified a short list to evaluate.

The bottom line: The planned extension in Illinois is among the most tangible big tech-nuclear tie-ups yet.

[thetechempire]

Google strikes a deal with a nuclear startup to power its AI data centers

🔹 Google is turning to nuclear energy to help power its AI drive. On Monday, the company said it will partner with the startup Kairos Power to build seven small nuclear reactors in the US. The deal targets adding 500 megawatts of nuclear power from the small modular reactors (SMRs) by the decade’s end. The first is expected to be up and running by 2030, with the remainder arriving through 2035.

🔹 It’s the first-ever corporate deal to buy nuclear power from SMRs. Small modular reactors are smaller than existing reactors. Their components are built inside a factory rather than on-site, which can help lower construction costs compared to full-scale plants. Kairos will need the US Nuclear Regulatory Commission to approve design and construction permits for the plans. The startup has already received approval for a demonstration reactor in Tennessee, with an online date targeted for 2027.

🔹 The company already builds test units (without nuclear-fuel components) at a development facility in Albuquerque, NM, where it assesses components, systems and its supply chain. The companies didn’t announce the financial details of the arrangement. Google says the deal’s structure will help to keep costs down and get the energy online sooner. “By procuring electricity from multiple reactors — what experts call an ‘orderbook’ of reactors — we will help accelerate the repeated reactor deployments that are needed to lower costs and bring Kairos Power’s technology to market more quickly,” Michael Terrell, Google’s senior director for energy and climate, wrote in a blog post. “This is an important part of our approach to scale the benefits of advanced technologies to more people and communities, and builds on our previous efforts.”

🔹 The AI boom - and the enormous amount of data center power it requires - has led to several deals between Big Tech companies and the nuclear industry. In September, Microsoft forged an agreement with Constellation Energy to bring a unit of the Three Mile Island plant in Pennsylvania back online. In March, Amazon bought a nuclear-powered data center from Talen Energy.

[man-and-atom]

Anyone who can make something of this piece is welcome to.

In one scenario highlighted by the Energy Market Authority in its 2050 committee report, nuclear energy could supply about 10 per cent of Singapore’s energy needs by 2050. This could potentially form a larger proportion of Singapore’s energy mix post-2050, once nuclear tech has been proven viable, said Prof Chung.

Electricity currently accounts for about 30% of Singapore’s energy consumption. Supplying two-thirds of that from fission within five years or so would seem to be entirely practicable, when we look at examples from Pickering to Barakah. It is difficult to see how the “viability” of atomic power there needs any proving which hasn’t been accomplished, for instance, by Finland, which has about the same population and also depends heavily on fuel imports.

In addition, newer nuclear power-plant designs like SMRs are being developed, and they have the potential to be much safer than many of the traditional power plants in operation today.

Claims that small modular reactors will be safer than existing nuclear generating units, like claims that extensive new research on atomic power safety is needed, are uselessly vague and even misleading without some illumination of just what deficiencies in safety are to be alleviated. What information is available seems to leave little doubt that fission is far and away the safest means of supplying energy on an industrial scale.

While severe nuclear accidents are few and far between, nuclear power has earned itself a bad reputation after disasters such as those in Fukushima and Chernobyl.

Must we reiterate that the Great East Japan Earthquake and Tsunami killed twenty thousand people? It is hard to understand why the damage to the reactors at Fukushima Daiichi is painted as the main story of that terrible day, except perhaps that it happened so much more slowly. The real “nuclear disaster” was the large-scale, long-lasting evacuation imposed, even though releases of radioactive materials from the stricken reactors were too small to justify (according to international standards) more than a “shelter in place” order.

We can certainly understand that the citizens of Singapore, with its small land area, would not want to risk losing any of that to something like the Chernobyl Exclusion Zone, but the Pickering accident of 1983 is proof positive that there are well-established power reactor designs available now that pose no such danger, and can be located without fear even in the environs of the largest cities.

[researchinenergyandpower]

The global Small Modular Reactor Market is anticipated to grow from estimated USD 6.00 billion in 2024 to USD 7.14 billion by 2030, at a CAGR of 3.0% during the forecast period. The growth in the market will be attributed to the growing demand for clean, reliable energy and the need for greater flexibility in power generation. Their compact design allows for easier construction and quicker commissioning, which can help reduce capital costs compared to traditional large-scale reactors. Additionally, advancements in safety features and the potential for integration with renewable energy sources enhance their appeal in the transition to a low-carbon economy.

[sweatybelieverfun]

Power Generation Market Drivers Fueling Global Energy Transition and Sustainable Infrastructure Expansion

The power generation market is undergoing a profound transformation, driven by multiple intersecting factors that reflect the evolving dynamics of energy demand, technological advancement, and environmental responsibility. The shift toward cleaner, more efficient, and decentralized energy systems has introduced new growth opportunities and challenges across regions. Understanding the key drivers behind this shift is essential for stakeholders to anticipate future developments and make strategic decisions.

Growing Global Energy Demand

One of the primary drivers of the power generation market is the consistent rise in global electricity consumption. Urbanization, industrialization, population growth, and the increasing penetration of electric appliances and digital devices have collectively contributed to escalating energy needs. Emerging economies, in particular, are experiencing rapid infrastructure expansion, which demands significant additions to existing power generation capacity. As electricity becomes the backbone of modern economies, the demand for reliable and affordable power sources continues to grow.

Renewable Energy Proliferation

The global shift toward sustainable energy sources has profoundly influenced the power generation market. Solar, wind, hydropower, and geothermal technologies are gaining traction as cleaner alternatives to fossil fuel-based systems. Governments, corporations, and consumers are investing heavily in renewable infrastructure due to growing environmental awareness and the decreasing cost of clean energy technologies. This surge in renewable adoption has also been supported by significant technological advancements in storage, grid integration, and energy forecasting.

Government Regulations and Decarbonization Policies

Stringent environmental regulations and national commitments to reduce greenhouse gas emissions have become pivotal drivers of change. Many governments are implementing policies aimed at achieving net-zero emissions by mid-century. These include carbon pricing, subsidies for clean energy projects, tax incentives for renewable energy investments, and the phasing out of coal-fired power plants. Regulatory frameworks are increasingly favoring low-emission technologies, encouraging utilities to adapt their generation portfolios to meet compliance targets.

Technological Advancements and Innovation

Technological innovations are transforming the efficiency, scalability, and cost-effectiveness of power generation systems. Breakthroughs in turbine design, modular nuclear reactors, digital twins, and AI-powered energy management systems are enabling smarter and more resilient generation methods. Innovations in battery storage and hydrogen production are also paving the way for more flexible energy generation and grid stability, especially as intermittent renewable sources become more dominant. As a result, modern power plants are not only more efficient but also better integrated with digital infrastructure.

Decentralization and Distributed Energy Resources (DERs)

Another notable driver is the rise of decentralized energy models. Distributed energy resources, such as rooftop solar panels, small wind turbines, and microgrids, are empowering consumers to become energy producers. This trend enhances energy security and reduces transmission losses. The decentralization of power generation is particularly beneficial in rural or remote areas where traditional grid access is limited or economically unviable. DERs also provide backup solutions during grid outages, improving resilience in times of crisis.

Investment and Private Sector Participation

The increasing involvement of private investors, venture capitalists, and multinational corporations has significantly boosted power generation capacities. Public-private partnerships and green financing initiatives are helping mobilize capital for renewable and clean energy projects. Investors are increasingly attracted by long-term returns and stable revenue models associated with power purchase agreements (PPAs) and feed-in tariffs. Furthermore, the global trend toward Environmental, Social, and Governance (ESG) investing is steering capital toward sustainable energy ventures.

Electrification of Transport and Industrial Sectors

As electric vehicles (EVs) and electric-powered industrial processes become more prevalent, they are creating a ripple effect on power generation. The electrification of transportation, especially, is expected to significantly raise electricity demand. Grid operators and power producers are preparing for these new consumption patterns by expanding capacity and integrating smart charging infrastructure. Similarly, industries seeking to decarbonize their operations are switching from fossil fuels to electricity, further amplifying the need for reliable power generation solutions.

Energy Security and Geopolitical Considerations

Recent geopolitical developments and supply chain disruptions have highlighted the importance of energy security. Countries are focusing on diversifying their energy sources to minimize dependency on imported fuels. Domestic power generation, especially through renewables and nuclear, is being promoted as a strategy to strengthen national energy resilience. This renewed focus on self-sufficiency is driving investments in localized generation facilities and new grid infrastructure.

Digitalization and Smart Grid Integration

Digital transformation across the energy value chain is enabling better demand forecasting, real-time monitoring, and automated control of power systems. Smart grids allow for more efficient transmission and distribution of electricity, while advanced analytics help optimize generation strategies. These digital tools also facilitate integration of variable renewable sources, reducing wastage and enhancing overall grid stability.

In conclusion, the power generation market is being propelled by a diverse set of drivers ranging from environmental concerns and policy reforms to technological innovation and changing consumer behavior. As these forces continue to evolve, the industry must adapt through strategic planning, investment in clean technologies, and alignment with global sustainability goals. The ability to harness and respond to these drivers will determine the success of future power systems in meeting both demand and climate targets.

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