The Status of Key Nuclear Startups

Where different nuclear companies are on their path to rejuvenating the sector

A wave of new nuclear companies has emerged, driven by the need for clean baseload power, particularly by Big Tech companies and data center builders.

Startups are revitalizing the sector with a range of advanced technologies like small modular reactors (SMRs), microreactors and fusion reactors.

• Small modular reactors (SMRs) are compact reactors, typically up to 300 megawatts in size and built in factories for faster cheaper deployment. They’re designed for flexible, scalable power.

• Microreactors are ultra-small, portable nuclear reactors (1 to 20 megawatts) designed for quick setup in remote or isolated areas. Their passive safety features and compact designs make them suitable for regions without much existing infrastructure, like mines or remote bases.

• Fusion reactors generate energy by fusing atomic nuclei to produce electricity without long-lived radioactive waste. They’re inherently safer than fission and use abundant fuels but are still in development.

Nuclear startups are attracting attention and funding from both governments and private investors by promising carbon-free power with high reliability. Their approach is often more agile than that of traditional nuclear companies, with faster R&D cycles.

Some recent nuclear-tech deals include:

• Amazon participated in a $500 million funding round for SMR developer X-energy

• Wyoming Hyperscale agreed to 100 megawatts of power from micronuclear developer Oklo

• Oracle announced plans to build a gigawatt-scale data center powered by three SMRs

• Equinix signed non-binding agreements for 500 megawatts of power from Oklo

• Microsoft and Constellation are restarting Three Mile Island Unit 1 reactor

• Amazon acquired a 650-megawatt data center campus powered by the  Susquehanna nuclear power plant

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Written by Aaron Foyer, Vice President of Research and Analytics at Orennia

✉️ As always, feel free to reach out to me at aaron.foyer@orennia.com

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