All articles tagged with #nuclear energy
Australia and India reached a long-term uranium export agreement under IAEA safeguards to support India’s peaceful nuclear energy expansion, including a goal of 100 GW by 2047, while also strengthening defence ties, critical minerals supply chains, and a planned space-tracking terminal on Cocos Keeling Islands.
Three startups in the DOE’s pilot program have turned on new reactors and reached criticality, a milestone meant to jump‑start a new wave of small modular reactors and carbon‑free power. While the speed is aided by regulatory cuts and lab support, experts caution these are test reactors, not commercial products, and licensing, fuel supply, and cost hurdles still loom before any grid deployment—despite Valar Atomics’ criticality demonstrations (even powering an Nvidia chip) and other pilots aiming to be critical soon, including Antares Nuclear and Deployable Energy; Aalo Atomics has yet to hit criticality.
Three U.S. advanced reactors backed by the Energy Department have reached criticality, meeting a July 4 target and signaling progress toward a nuclear renaissance, with Deployable Energy’s unit the third to go critical and Aalo Atomics expected to follow. While DOE touts momentum and the potential for quicker development, experts say commercial deployment could still take years due to licensing by the NRC, fuel supply challenges (HALEU), and financing hurdles, though a proposed rule could speed up regulatory reviews for approved designs.
The United States dominates the global race to develop small modular reactors (SMRs), with 28 siting announcements in 2026—more than the next four countries combined (Canada 9, the United Kingdom 7, Russia 5, and China 4). The Nuclear Energy Agency tracks 129 SMR designs, but only 78 are publicly reported in its dashboard. SMRs, up to 300 MWe and manufactured modularly, promise cheaper, flexible clean power suitable for remote sites or data centers and are increasingly seen as important for grid reliability and energy security as power demand grows.
The Energy Department announced a $17.5 billion loan package to support the construction of 10 large nuclear reactors, signaling a major federal push to expand nuclear power in the United States, with the Vogtle plant in Georgia shown among the facilities.
The Energy Department will provide about $17.5 billion in loans to five special-purpose vehicles to finance the construction of 10 large AP1000 reactors (two per project, each ~1.1 GW). The loans aim to lower costs and speed completion by up to three years, with significant equity contributions from Westinghouse and partners; long-term power purchase agreements from major tech firms are expected to support the projects, though site selections have not been announced yet.
Plans are revived for the Freedom Ship, a nuclear-powered, self-contained mobile city at sea designed to house about 80,000 people (50,000 residents, 10,000 tourists, 20,000 crew) with urban amenities like schools, shops, a stadium, museums, and a tram system. The vessel would operate in international waters, reportedly circling the globe every 2–3 years, and is estimated to cost around $16.16 billion, with first residents potentially moving on before construction is finished as funding remains sought.
Russia and Kazakhstan sealed a $16.5 billion agreement to build the Balkhash Nuclear Power Plant, led by Rosatom, with an export loan covering about 85% of the cost. The two VVER-1200 Gen III+ reactors are planned at the Balkhash site, construction set to begin in 2027 and the first unit expected online by 2034, aiming to stabilize Kazakhstan’s energy supply and deepen Moscow’s economic and geopolitical influence in the region.
The Energy Department has chosen five private companies for advanced negotiations to repurpose surplus Cold War plutonium into fuel for next‑generation reactors, a move supporters say could unlock private funding and spur domestic nuclear innovation, while critics warn it could increase weapons-usable material and revisit a failed 2018 effort. Oklo will work with Newcleo; other participants include Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy.
The Energy Department has named five private companies, including Oklo, to begin negotiations under its Surplus Plutonium Utilization Program to repurpose weapons-grade plutonium into fuel for next-generation small modular reactors. The move could unlock private funding and expand domestic nuclear fuel supplies, but critics warn it raises proliferation risks and could set a precedent for civilian use of weapons-grade material; negotiations are not yet finalized.
The U.S. Department of Energy named five companies, including Oklo, to explore turning about 20 metric tonnes of surplus Cold War plutonium into fuel for advanced nuclear reactors, with Oklo planning a collaboration with Newcleo and other participants including Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy. The move, intended to use weapons-usable material as bridge fuel and attract private funding while ensuring safety, has drawn proliferation concerns and political debate over its economics and defense implications.
The Energy Department selected eight U.S. companies to receive over $94 million in cost-shared funding to accelerate near-term deployment of advanced Gen III+ small modular reactors, backing site selection/permits, supply-chain upgrades, and manufacturing capacity to position the United States for 2030s deployments under President Trump's nuclear-energy agenda.
Amid Russia’s invasion, Ukraine’s three operating nuclear plants—Rivne, South Ukraine, and Khmelnytskyi—continue powering the country yet face elevated danger from occupation and attacks; Rivne has tightened safety drills, Zaporizhzhia remains under occupier control, and repair work at Chornobyl’s New Safe Confinement is urgent, even as Ukraine pursues modernization with Western help.
Amazon-backed X-energy has filed a draft S-1 for an IPO, aiming to list in early summer to capitalize on rising demand for nuclear power driven by data centers and AI. The Texas-based SMR developer is building the Xe-100 helium-cooled reactor and has contracts with Centrica and Dow; it has NRC fuel-production licensing but not full NRC approval to build the reactor. Lead underwriters are JPMorgan, Morgan Stanley, Jefferies and Moelis. If successful, X-energy would join Nano Nuclear, NuScale and Oklo as publicly traded SMR players amid a broader wave of nuclear-tech listings.
Oklo’s stock wavered after earnings, but the Santa Clara-based startup scored a key win when its Atomic Alchemy subsidiary secured the Nuclear Regulatory Commission license to handle, process, and distribute isotopes, creating a new revenue stream even as its advanced fast reactors await NRC approval and the company remains pre‑revenue. 2025 net loss rose to $105.7 million on $139.2 million in operating expenses, with $1.4 billion in cash and equivalents, and management signaled ongoing losses and higher investing outlays. Positive developments include a Department of Energy agreement to support its first reactor at Idaho National Laboratory and a Meta Platforms partnership to build a nuclear campus in Ohio, underscoring progress toward Oklo’s goal of commercially deploying power around 2028 despite regulatory and funding uncertainties.