Nuclear Energy Stocks

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>>> Eos Energy Enterprises, Inc. (EOSE) designs, develops, manufactures, and markets energy storage solutions for utility-scale, microgrid, and commercial and industrial applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility. It also provides Z3 battery module that provides utilities, independent power producers, renewables developers, and commercial and industrial customers with an alternative to lithium-ion and lead-acid monopolar batteries for critical 3- to 12-hour discharge duration applications; battery management system, which provides a remote asset monitoring capability and service to track the performance and health of BESS and identify future system performance issues through predictive analytics; and project management and commissioning services, as well as long-term maintenance plans. The company was founded in 2008 and is headquartered in Edison, New Jersey.

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https://finance.yahoo.com/quote/EOSE/profile/



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>>> Nuclear's Moment - Securing US AI Supremacy


Zacks

by Andrew Rocco

July 14, 2025


https://finance.yahoo.com/news/nuclears-moment-securing-us-ai-220400974.html


The Unquenchable Need for AI Energy

According to the World Economic Forum, AI’s computational power needs are soaring, doubling roughly every 100 days. Data center power was just 88 gigawatts in 2022. However, thanks to the buildout of massive data centers (used to train large language models like ‘ChatGPT’) by big tech juggernauts like Alphabet (GOOGL), Microsoft (MSFT) and Meta Platforms (META) that number is expected to increase to more than 300 GW by the end of the decade.

China Vs. US: The Battle for AI Supremacy

It’s no secret to investors that the United States and China have the most significant economic and defense rivalry globally. Each year, the rivalry intensifies, and the AI revolution will only escalate the stakes. Artificial Intelligence is such a groundbreaking technology that whichever country wins the AI race, likely wins the race for superior defense, a robust economy, and global domination.

In past cycles, America’s free market capitalist system has proven to be the best framework for producing technology and new innovations. The US dominated the internet boom, software, and several other industries. While most Wall Street analysts agree that the US is off to an early and slight lead in the AI race, China is hot on their heels. In addition, one critical element threatens the United States’ AI supremacy: energy.

China Dominates Energy Production

Last year, China generated more than 10k terawatt-hours (TWh) of electricity, dominating the US. China currently produces more than the combined output of the US, EU, and India. Meanwhile, China isn’t slowing down its production and continues to produce energy at a blistering pace, with forward projections suggesting that China will produce the equivalent of the US power grid each year!

The Big Beautiful Bill Will Spur Nuclear Demand

The massive and multi-faceted ‘Big Beautiful Bill’ was recently signed into law by President Trump. Nuclear will benefit dramatically from the bill for two reasons:

· US Debt will Soar: The Congressional Budget Office estimates that the BBB will add $3.4 trillion to the US deficit over the next decade. With the deficit set to soar, the US will have no choice but to fully embrace AI and “grow the country out of debt.” (More on that later)

Solar Subsidies will be Removed: The loss of solar subsidies in the BBB will lead to a natural market force toward cheap and clean nuclear power.

US Seeks to Remove Nuclear Red Tape

US Energy Secretary Chris Wright sent nuclear-related stocks soaring Monday after he posted to social media a message that read:

“Let’s talk nuclear energy: the energy-dense, always-ON energy source that we’ve smothered for decades with regulatory red tape. Under the Trump administration, you’re going to truly see the launch of the nuclear renaissance. The coming years will be HUGE.”

Several uranium, energy storage, and nuclear-related stocks spiked on heavy trading volume after the news, including Cameco (CCJ), Centrus Energy (LEU), NuScale Power (SMR), and Eos Energy Enterprises (EOSE). In addition, Oklo (OKLO), a small modular reactor company where Chris Wright once sat on the board of directors, continued its breathtaking multi-month advance and broke out of a powerful bull flag chart pattern.

Bottom Line

The race for AI supremacy is intrinsically linked to energy production capabilities. If the US wants to win the AI race, it will have to embrace nuclear in a big way.

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BWXT - >>> Cathie Wood Loads Up On This Nuclear Play As The Senate Announces Industry Support In Trump Bill


Investor's Business Daily

by KIT NORTON

06/17/2025


https://www.investors.com/news/cathie-wood-nuclear-stock-market-senate-industry-support-in-trump-bill/?src=A00220


The Senate Finance Committee released recommendations for key elements of the Republican budget bill late Monday that would boost investment in nuclear energy. The news followed Monday stock market action in which Cathie Wood and Ark Invest loaded up on nuclear reactor supplier BWX Technologies (BWXT), a stock that hovered in a buy zone.

Wood's ARK Innovation (ARKK) ETF on Monday purchased 215,830 shares of BWX Technologies for an estimated $30.14 million, according to Wood's ETF daily trade disclosures.

BWX Technologies traded in a buy zone on Monday, advancing 1.2% to 139.67. Aggressive investors would read the stock as extended, up more than 60% from an April low, according to analysis of MarketSurge charts.

The stock edged up 0.3% to 140.15 on Tuesday, just above a traditional 136.31 buy point from a cup base, according to MarketSurge. The company supplies the U.S. Navy with nuclear reactors and also has a strong position in the supply chain for Canada's nuclear energy program. William Blair analysts wrote in late May that BWX could "expand its commercial nuclear power business" into small modular reactor, or SMR, technology.

Wood and Ark Invest also have positions in Canada-based uranium refiner Cameco (CCJ) and SMR startup Oklo (OKLO). Wood's ARK Autonomous Tech (ARKQ) ETF trimmed Cameco and Oklo holdings in late May as nuclear-related stocks soared broadly following President Donald Trump's nuclear executive orders.

The changes sharpen the cuts to Medicaid designed into the House bill, leading to some pushback among House and Senate GOP leaders, according to Politico.

The committee also aimed to eliminate hundreds of billions of dollars in Biden-era Inflation Reduction Act, or IRA, tax credits, but would also increase investment in nuclear energy. The House version of the bill keeps a full phaseout of solar and wind energy tax credits by 2028.

The committee's recommended changes to Trump's signature tax and spending bill would end the $7,500 tax credit for EVs 180 days after becoming law. That's vs. the House's end-of-2025 cutoff. In either case, the loss of credits is likely to hit Tesla (TSLA) and other auto manufacturers.

Oklo Stock Soars After First-Quarter Earnings; OpenAI Deal Potential

While the legislation would strip away tax credits for EVs along with incentives for wind and solar energy, the bill makes modifications to clean energy production tax credits to allow nuclear, hydro and geothermal to continue receiving incentives, in some form, if facility construction starts before 2036.

The House and Senate aim to deliver a reconciled budget proposal to the White House by July 4.

Trump Executive Orders Fuel Nuke Stocks

The inclusion of pronuclear carve-outs in the Senate spending bill comes after Trump in late May signed four executive orders to support the nuclear energy sector and put in place a "total and complete reform" of the Nuclear Regulatory Commission, the NRC. The executive orders also look to speed up the deployment of new nuclear power reactors in the U.S.

The May 23 executive orders directed the government to cut down on regulations and fast-track licenses for reactors and power plants to shrink a multiyear process to 18 months, the Financial Times reported.

Trump's 'Consequential' Shift In Energy Policy Fuels Upgrades For These Stocks

The Trump White House defines artificial intelligence as a national security objective and stipulates that the Department of Energy and Defense work with the private sector to accelerate deployments of SMRs, to power AI.

Big Tech has been bullish on investing in SMRs to power AI data centers. SMRs aim to provide power at the site level, drastically reducing the time and cost of permitting, constructing and operating full-scale nuclear facilities.

Cathie Wood-backed Cameco is placed to be a major beneficiary of these executive orders. Cameco has a partial ownership of Westinghouse.

Westinghouse is reportedly the "top pick" to construct the mandated 10 new large nuclear reactors by 2030.

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>>> Much of Iran’s Nuclear Program Remains After Israel’s Strikes. At Least for Now.

The first phase of the attack did not hit the most likely repository of Iran’s near-bomb-grade nuclear fuel.


The New York Times

by David E. Sanger

David E. Sanger has covered Iran’s nuclear program, and the efforts to prevent it from obtaining an atomic weapon, for more than two decades

June 13, 2025


https://www.nytimes.com/2025/06/13/us/politics/iran-nuclear-program-israel-strike-damage.html


Israel badly damaged one of Iran’s key nuclear sites and killed a startling array of top military and nuclear officials in the attacks that started on Friday morning. But when the sun rose after that devastating assault, it was also clear how much of Iran’s nuclear program remained, at least for now.

The Israeli strikes appear to have destroyed an aboveground nuclear fuel production site and electrical supply centers at Iran’s largest uranium enrichment center, at Natanz. The killing of some of Iran’s top nuclear scientists continues a long-running Israeli campaign targeting the expertise needed to build a bomb. But the first phase of the Israeli attacks did not hit the most likely repository of Iran’s near-bomb-grade nuclear fuel — and that may have been deliberate.

That stockpile is stored at a vast complex outside the ancient former capital of Isfahan, according to international inspectors who are charged with measuring and monitoring it. Israel’s 100 fighters and swarms of missiles and drones stayed away from Isfahan in their first wave, even though it is one of the largest nuclear sites in the country and, according to Western intelligence services, one of the centers of Iran’s secret weapons research programs.

The Israel Defense Forces issued a news release on Friday afternoon saying that in a second wave of attacks, it had hit Isfahan, but not the fuel stockpile. Instead, it focused on laboratories that worked on converting uranium gas back into a metal — one of the last stages of building a weapon. But it said nothing about hitting the area where the fuel itself is stored.

“We saw the fuel there just recently,” Rafael Mariano Grossi, the director general of the International Atomic Energy Agency, the United Nations organization that tracks fuel to make sure it is not diverted to weapons projects, said on Friday, a few hours after the attacks began. Inspectors were inside the Isfahan facilities over the past few weeks, conducting the final inventories for the quarterly report on Iran’s capabilities that was distributed to the agency’s board this month, as it focused on Iran’s compliance with inspectors’ demands.

The mystery is why Israel avoided hitting the stockpile, which gives Iran its fastest pathway to producing a small nuclear arsenal. And it was the core of Prime Minister Benjamin Netanyahu’s justifications early Friday for ordering the strike, after two decades in which Israel has always stopped short of pulling the trigger.

“Iran has produced enough highly enriched uranium for nine atom bombs — nine,” he said. (Other experts put the figure slightly higher, at 10, but the actual number would depend on how efficiently the Iranians prove to be at producing a warhead or a bomb.)

Mr. Netanyahu went on to discuss the danger he believed the stockpile’s existence posed: “In recent months, Iran has taken steps that it has never taken before, steps to weaponize this enriched uranium.” He argued that if Iran was not stopped, it “could produce a nuclear weapon in a very short time.”

“It could be in a year,” he said, “it could be within a few months — it could be less than a year.”

Nuclear and missile facilities in Iran -



Israeli officials did not respond to queries about why they spared the stockpile, at least for now. It is possible that the Isfahan complex could be targeted in a next wave. President Trump said on Friday that “there’s more to come, a lot more,” adding that the next attacks would be “brutal.”

But outside experts believe avoiding Isfahan was a deliberate choice.

“The fact that Israel did not bomb a known uranium production facility at Isfahan,” said Jon Wolfsthal of the Federation of American Scientists, which tracks Iran’s nuclear progress closely, “suggests either that Bibi was worried the bombing might cause a radiological incident or that they actually think this will lead Iran to surrender its uranium stocks voluntarily.”

The concern about a “radiological incident” is a real one. Bombing the fuel storage site in its current form would not trigger a nuclear explosion. But it could release the fuel into the environment, creating a radiation hazard, essentially turning the Isfahan plant into a dirty bomb.

Israel expands attack to include Iran’s oil and gas industry.

Iran’s vital oil industry is vulnerable in the escalating conflict.

(Mr. Grossi said late Friday that there was some chemical and radiological contamination at the heavily hit Natanz plant, but that the underground halls that hold some of Iran’s most modern and powerful centrifuges did not appear to have been pierced.)

History suggests Israel is highly sensitive to the risk of triggering the release of radioactive material. When it bombed Saddam Hussein’s Osirak nuclear reactor in 1981, an effort to keep Iraq from gaining a nuclear weapon, it struck before fuel was put into the plant. And it did the same when it hit a plant in Syria that was being built by the North Koreans, though in that case Israel tried for months to hide its responsibility for the bombing campaign. In the strike on Iran on Friday morning, it boasted about the details.

Another possible explanation is that Israeli officials believe they can block the Iranians from further enriching the stockpile to bomb-grade levels — 90 percent — a process that would take only days or weeks, in the public estimation of American intelligence agencies. (It is possible to make a weapon with lower-purity fuel, but it creates new challenges.)

Iran’s choices are limited. The country’s largest enrichment plant at Natanz was the primary target in the early hours of Friday, and cellphone videos showed it was still smoking. “We believe it is heavily damaged,” said Mr. Grossi, who has visited Natanz often.

If Natanz is out of operation, Iran’s best bet would be to get the fuel to the smaller enrichment plant at Fordow, buried deep under a mountain on an Islamic Revolutionary Guards Corps base. Mr. Grossi estimates it is half a mile deep, most likely making it impervious to Israel’s bunker-busting weapons. So far the Trump administration has made clear it will not join in the attacks, which would include making use of the giant bunker buster the United States developed to take out such deeply buried sites in Iran and North Korea.

According to some reports, Israel may be trying anyway; there were indications of bombing in the area of the mountainous facility on Friday evening. Even if that is unsuccessful, Iran would almost certainly not want to take the risk of transporting its 60 percent enriched fuel to the Natanz site. It would be “a sitting duck for their drones,” one former American intelligence official who worked extensively on Iran said on Friday.

In selecting its targets, Israel also bet that it could set back the effort by killing key scientists. On Friday, the deaths of two of them were widely reported in Iran. One was Mohammad Mehdi Tehranji, a physicist and the president of the Islamic Azad University in Tehran, which has long been associated with work on Iran’s nuclear and missile programs.

The other was a man Israel has tried, and failed, to kill before. Fereydoun Abbasi was the tough-talking former head of the Atomic Energy Organization of Iran. In November 2010, at the height of Israel’s “sticky bomb” attacks in which explosives were slapped on the drivers’ doors of scientists caught in Tehran traffic, Mr. Abbasi was badly wounded. Perhaps because of his military training, he reacted instantly to the click of the magnetic bomb on his door and pulled himself and his wife out of the car before it was consumed in a fireball.

He emerged from that attack more determined than ever to pursue Iran’s program, and for several years became its public face as the head of Iran’s Atomic Energy Organization. He offered the world assurances that his country’s interest in nuclear technology was entirely peaceful.

He argued that all the evidence provided by international inspectors that an active warhead project existed in Iran dating back 20 years or more — including drawings of the weapons and calculations about the best heights to detonate a weapon — was part of an Israeli fabrication effort to justify a future attack on Iran’s nuclear facilities.

He was among the first to die when those strikes began.

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>>> Meta's nuclear deal signals AI's growing energy needs


AP

by MATT O'BRIEN

6-3-25


https://www.msn.com/en-us/money/other/metas-nuclear-deal-signals-ais-growing-energy-needs/ar-AA1G1isa?ocid=TobArticle


Meta's deal to help revive an Illinois nuclear power plant was one way of signaling that the parent company of Facebook and Instagram is preparing for a future built with artificial intelligence.

Meta's 20-year deal with Constellation Energy follows similar maneuvers from Amazon, Google and Microsoft, but it will take years before nuclear energy can meet the tech industry's insatiable demand for new sources of electricity.

AI uses vast amounts of energy, much of which comes from burning fossil fuels, which causes climate change. The unexpected popularity of generative AI products over the past few years has disrupted many tech companies' carefully laid plans to supply their technology with energy sources that don't contribute to climate change.

Even as Meta anticipates more nuclear in the future, its more immediate plans rely on natural gas. Entergy, one of the nation’s largest utility providers, has been fast-tracking plans to build gas-fired power plants in Louisiana to prepare for a massive Meta data center complex.

France has touted its ample nuclear power — which produces about 75% of the nation's electricity, the highest level in the world — as a key element in its pitch to be an AI leader. Hosting an AI summit in Paris earlier this year, French President Emmanuel Macron cited President Donald Trump’s “drill baby drill” slogan and offered another: “Here there’s no need to drill, it’s just plug baby plug.”

In the U.S., however, most of the electricity consumed by data centers relies on fossil fuels — burning natural gas and sometimes coal — according to an April report from the International Energy Agency. As AI demand rises, the main source of new supply over the coming years is expected to be from gas-fired plants, a cheap and reliable source of power but one that produces planet-warming emissions.

Renewable energy sources such as solar and wind account for about 24% of data center power in the U.S., while nuclear comprises about 15%, according to the IEA. It will take years before enough climate-friendlier power sources, including nuclear, could start slowing the expansion of fossil fuel power generation.

A report released by the U.S. Department of Energy late last year estimated that the electricity needed for data centers in the U.S. tripled over the past decade and is projected to double or triple again by 2028 when it could consume up to 12% of the nation’s electricity.

Why does AI need so much energy?

It takes a lot of computing power to make an AI chatbot and the systems they're built on, such as Meta's Llama. It starts with a process called training or pretraining — the “P” in ChatGPT — that involves AI systems “learning” from the patterns of huge troves of data. To do that, they need specialized computer chips — usually graphics processors, or GPUs — that can run many calculations at a time on a network of devices in communication with each other.

Once trained, a generative AI tool still needs electricity to do the work, such as when you ask a chatbot to compose a document or generate an image. That process is called inferencing. A trained AI model must take in new information and make inferences from what it already knows to produce a response.

All of that computing takes a lot of electricity and generates a lot of heat. To keep it cool enough to work properly, data centers need air conditioning. That can require even more electricity, so most data center operators look for other cooling techniques that usually involve pumping in water.

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Nuclear history -

>>> Rift between Israel and France

https://en.wikipedia.org/wiki/Nuclear_weapons_and_Israel

When Charles de Gaulle became French President in late 1958 he wanted to end French–Israeli nuclear cooperation and said that he would not supply Israel with uranium unless the plant was opened to international inspectors, declared peaceful, and no plutonium was reprocessed.[56] Through an extended series of negotiations, Shimon Peres finally reached a compromise with Foreign Minister Maurice Couve de Murville over two years later, in which French companies would be able to continue to fulfill their contract obligations and Israel would declare the project peaceful.[57] Due to this, French assistance did not end until 1966.[58] However, the supply of uranium fuel was stopped earlier, in 1963.[59] Despite this, a French uranium company based in Gabon may have sold Israel uranium in 1965. The US government launched an investigation but was unable to determine if such a sale had taken place.[60]

1963 standoff between Israel and United States

Israeli newspaper Haaretz reported in 2019 that, throughout the spring and summer of 1963, the leaders of the United States and Israel – President John F. Kennedy and prime ministers David Ben-Gurion and Levi Eshkol – were engaged in a high-stakes battle of wills over Israel's nuclear program. The tensions were invisible to the publics of both countries, and only a few senior officials, on both sides, were aware of the severity of the situation. According to Yuval Ne'eman, Eshkol, Ben-Gurion's successor, and his associates saw Kennedy as presenting Israel with a real ultimatum. According to Ne'eman, the former Israel Air Force commander Maj. Gen. (res.) Dan Tolkowsky, seriously entertained the fear that Kennedy might send U.S. airborne troops to Dimona, the home of Israel's nuclear complex.[61]

On March 25, 1963, President Kennedy and CIA Director John A. McCone discussed the Israeli nuclear program. According to McCone, Kennedy raised the "question of Israel acquiring nuclear capability," and McCone provided Kennedy with Kent's estimate of the anticipated negative consequences of Israeli nuclearization. According to McCone, Kennedy then instructed National Security Adviser McGeorge Bundy to guide Secretary of State Dean Rusk, in collaboration with the CIA director and the AEC chairman, to submit a proposal "as to how some form of international or bilateral U.S. safeguards could be instituted to protect against the contingency mentioned." That also meant that the "next informal inspection of the Israeli reactor complex [must] …be undertaken promptly and... be as thorough as possible."[61]

On April 2, 1963, Ambassador Barbour met Prime Minister Ben-Gurion and presented the American request for his "assent to semi-annual visits to Dimona perhaps in May and November, with full access to all parts and instruments in the facility, by qualified U.S. scientists." Ben-Gurion, apparently taken by surprise, responded by saying the issue would have to be postponed until after Passover, which that year ended on April 15. To highlight the point further, two days later, Assistant Secretary Talbot summoned Israeli Ambassador Harman to the State Department and presented him with a diplomatic démarche on the inspections. This message to Ben-Gurion was the first salvo in what would become "the toughest American-Israeli confrontation over the Israeli nuclear program".[61]

On April 26, 1963, more than three weeks after the original U.S. demand concerning Dimona, Ben-Gurion responded to Kennedy with a seven-page letter that focused on broad issues of Israeli security and regional stability. Claiming that Israel faced an unprecedented threat, Ben-Gurion invoked the specter of "another Holocaust," and insisted that Israel's security should be protected by joint external security guarantees, to be extended by the U.S. and the Soviet Union. Kennedy, however, was determined not to let Ben-Gurion change the subject. On May 4, 1963, he replied to the prime minister, assuring him that while "we are watching closely current developments in the Arab world," as to Ben-Gurion's proposal for a joint superpower declaration, Kennedy dismissed both its practicality and its political wisdom. Kennedy was much less worried about an "early Arab attack" than he was by "a successful development of advanced offensive systems which, as you say, could not be dealt with by presently available means."[61]

Kennedy would not budge on Dimona, and the disagreements became a "pain in the neck" for him, as Robert Komer later wrote. The confrontation with Israel escalated when the State Department transmitted Kennedy's latest letter to the Tel Aviv embassy on June 15 for immediate delivery to Ben-Gurion by Ambassador Barbour. In the letter Kennedy fleshed out his insistence on biannual visits with a set of detailed technical conditions. The letter was akin to an ultimatum: If the U.S. government could not obtain "reliable information" on the state of the Dimona project, Washington's "commitment to and support of Israel" could be "seriously jeopardized." But the letter was never presented to Ben-Gurion. The telegram with Kennedy's letter arrived in Tel Aviv on Saturday, June 15, the day before Ben-Gurion's announcement of his resignation, a decision that stunned his country and the world. Ben-Gurion never explained, in writing or orally, what led him to resign, beyond citing "personal reasons." He denied that his move was related to any specific policy issues, but the question of the extent to which Kennedy's Dimona pressure played a role remains open to discussion to the present day.[61]

On July 5, less than 10 days after Levi Eshkol succeeded Ben-Gurion as prime minister, Ambassador Barbour delivered to him a first letter from President Kennedy. The letter was virtually a copy of the undelivered letter of June 15 to Ben-Gurion.[62] As Yuval Ne'eman stated, it was immediately apparent to Eshkol and his advisers that Kennedy's demands were akin to an ultimatum, and thus constituted a crisis in the making. A stunned Eshkol, in his first and interim response, on July 17, requested more time to study the subject and for consultations. The premier noted that while he hoped that U.S-Israeli friendship would grow under his watch, "Israel would do what it had to do for its national security and to safeguard its sovereign rights." Barbour, apparently wanting to mitigate the bluntness of the letter, assured Eshkol that Kennedy's statement was "factual": Critics of strong U.S.-Israel relations might complicate the diplomatic relationship if Dimona was left uninspected.[61]

On August 19, after six weeks of consultations that generated at least eight different drafts, Eshkol handed Barbour his written reply to Kennedy's demands. It began by reiterating Ben-Gurion's past assurances that Dimona's purpose was peaceful. As to Kennedy's request, Eshkol wrote that given the special relationship between the two countries, he had decided to allow regular visits of U.S. representatives to the Dimona site. On the specific issue of the schedule, Eshkol suggested – as Ben-Gurion had in his last letter to Kennedy – that late 1963 would be the time for the first visit: By then, he wrote, "the French group will have handed the reactor over to us and it will be undertaking general tests and measurements of its physical parameters at zero power."[61]

Eshkol was vague on the proposed frequency of visits. Eshkol disregarded Kennedy's demand for biannual tours, while avoiding a frontal challenge to Kennedy's request. "Having considered this request, I believe we shall be able to reach agreement on the future schedule of visits," Eshkol wrote. In sum, the prime minister split the difference: To end the confrontation, he assented to "regular visits" by U.S. scientists, but he did not accept the idea of the prompt visit that Kennedy wanted and avoided making an explicit commitment to biannual inspections. Kennedy's appreciative reply did not mention these divergences but assumed a basic agreement on "regular visits."[61]

In the wake of Eshkol's letter, the first of the long-sought regular inspection visits to Dimona took place in mid-January 1964, two months after Kennedy's assassination. The Israelis told the American visitors that the reactor had gone critical only a few weeks earlier, but that claim was not accurate. Israel acknowledged years later that the Dimona reactor became operational in mid-1963, as the Kennedy administration had originally assumed.[61]

It turned out that Kennedy's insistence on biannual visits to Dimona was not implemented after his death. U.S. government officials remained interested in such a schedule, and President Lyndon B. Johnson did raise the issue with Eshkol, but he never pressed hard on the subject the way that Kennedy had.[61]

In the end, the confrontation between President Kennedy and two Israeli prime ministers resulted in a series of six American inspections of the Dimona nuclear complex, once a year between 1964 and 1969. They were never conducted under the strict conditions Kennedy laid out in his letters. While Kennedy's successor remained committed to the cause of nuclear nonproliferation and supported American inspection visits at Dimona, he was much less concerned about holding the Israelis to Kennedy's terms. In retrospect, this change of attitude may have saved the Israeli nuclear program.[61]

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>>> 3 Stocks to Buy to Ride the Nuclear Power Renaissance


Motley Fool

By Matt DiLallo, Neha Chamaria, Reuben Gregg Brewer

May 31, 2025


https://www.fool.com/investing/2025/05/31/3-stocks-to-buy-to-ride-the-nuclear-power-renaissa/


CCJ
Cameco Corp

CEG
Constellation Energy Corporation

SMR
NuScale Power Corporation


President Trump recently signed an executive order aimed at giving the nuclear energy industry a boost. The president wants to overhaul the Nuclear Regulatory Commission and speed up the development of new nuclear power reactors in the country. The order could power a resurgence in the sector.

NuScale Power (NYSE: SMR), Constellation Energy (NASDAQ: CEG), and Cameco (NYSE: CCJ) stand out to a few Fool.com contributors as nuclear energy stocks that could benefit from the industry's renaissance. Here's a closer look at why they could produce powerful returns for investors if the nuclear energy sector's resurgence gains steam.

NuScale Power has a new power model to offer

Reuben Gregg Brewer (NuScale Power): When President Donald Trump signed an executive order that will help to speed up the adoption of nuclear power in the United States, NuScale Power's stock rallied. A lot of nuclear power stocks did the same, but NuScale's rally brought the shares back up to all-time highs.

There's both risk and opportunity here. NuScale Power's price advance is being driven by emotions, since the company doesn't technically have a product to sell just yet. But the small modular nuclear reactors (SMRs) it is attempting to build are a very exciting advance in nuclear power.

SMRs are built in a factory, which makes them cheaper, easier, and quicker to build than large, site-built nuclear power plants. Their small size also means they can be transported to where they are needed and placed closer to population centers. The inclusion of modern safeguards, meanwhile, reduces the risk of a high-profile meltdown.

If NuScale Power can start selling its SMRs, it has a huge opportunity ahead of it as nuclear power demand increases. The most exciting thing here, however, is that the big turning point for the business is likely to take shape later in 2025. That's when RoPower, a Romanian power company, will make the final call on whether it will buy six SMRs from NuScale Power. Once the first deal is inked, additional deals are likely to be easier to come by.

A lot has to go right for NuScale Power before it has a sustainably profitable business, making execution a risk to keep close tabs on. But if the dominos keep falling into place, the nuclear renaissance could lead to material long-term gains for early investors in this growth stock.

A nuclear powerhouse

Matt DiLallo (Constellation Energy): Constellation Energy is the country's leader in producing nuclear power by a wide margin. It currently owns 22.1 gigawatts (GWs) of competitive nuclear power generation capacity, nearly four times that of rival Vistra (6.3 GWs).

Unlike utilities that own power generation assets and distribute the electricity to customers, Constellation sells the power it produces to other utilities and large corporate customers under long-term, fixed-rate power purchase agreements (PPAs). This strategy can enable it to cash in on higher power rates.

The company is investing heavily on expanding its clean energy operations. It signed a deal with Microsoft late last year to support the restart of its Three Mile Island Unit 1 nuclear plant, which it shut down several years ago for economic reasons. However, Microsoft's need for clean power to support its cloud and AI growth led the tech giant to sign a 20-year contract for all the power produced from this nuclear plant when it comes back online in 2028. Constellation is also exploring other nuclear power growth opportunities, including SMRs.

On top of that, Constellation is investing in other cleaner energy sources, like renewables and natural gas. It's in the process of significantly expanding its leading clean power operations by acquiring Calpine, which is a leader in natural gas and geothermal energy.

These investments position Constellation to deliver powerful earnings growth in the coming years. It's on track to grow its adjusted operating earnings at a more than 13% compound annual rate through 2030 on a stand-alone basis. It can grow even faster if it closes its Calpine deal. Meanwhile, the nuclear resurgence could power additional growth over the longer term.

A rare dividend-paying nuclear fuel stock

Neha Chamaria (Cameco): President Trump wants to speed up the design and build-out of nuclear reactors and quadruple the nation's nuclear energy capacity by 2050 to make it a major source of power. However, while investors expect companies building nuclear reactors and generating nuclear energy to be the biggest beneficiaries from Trump's pro-nuclear stance, the supply side of the equation is going unnoticed.

The thing is, nuclear power plants run on uranium. That means demand for uranium should rise, too, as more nuclear reactors come online. That makes a stock like Cameco a solid pick to play Trump's nuclear renaissance. Cameco was, in fact, hugely bullish about the uranium industry before Trump signed the executive order.

Earlier in May, Cameco estimated that nearly 70% of the total estimated uranium fuel requirements of nuclear reactors worldwide through 2045 remain uncovered. In other words, upcoming nuclear reactors will have to buy nearly 3.2 billion pounds of uranium to power their plants. For perspective, only around 119 million pounds of uranium were contracted by utilities in 2024 under long-term contracts.

Since Cameco is one of the largest uranium producers in the world, its outlook is closely followed by the uranium and nuclear energy industry. Cameco is already witnessing an uptick in long-term uranium contracting activity. To top that, Cameco also owns a 49% stake in Westinghouse Electric, which supplies nuclear technology, equipment, fuel, and services for nuclear reactors. Westinghouse, therefore, provides an edge to Cameco over other uranium miners.

Cameco is also a financially strong company and has even paid a dividend every year since 1991, also increasing it by 33% last year. Combine all of it, and Cameco looks like a smart nuclear stock to buy and hold.

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[6of1]

as with most new technologies there is a double edged sword that comes with them. If used wisely it can be very valuable Thanks for the info

[gfp927z]

>>> 3 Best Nuclear Energy ETFs to Buy Now


Motley Fool

By Scott Levine

Nov 20, 2024


https://www.fool.com/investing/stock-market/market-sectors/energy/nuclear/nuclear-etfs/


Key Points

AI-driven power demands raise interest in nuclear energy stocks and ETFs.

AI data centers may increasingly use nuclear energy, boosting sector growth.

U.S. aims for 200 GW new nuclear capacity by 2050, influencing market trends.

Top nuclear energy ETFs

Global X Uranium ETF
Sprott Uranium Miners ETF
VanEck Uranium and Nuclear ETF

Should you invest?

With the market's rampant interest in artificial intelligence (AI), investors have begun to pay greater mind to nuclear energy stocks and, with them, nuclear energy exchange-traded funds (ETFs). For investors who don't closely follow the AI industry, the connection between AI and nuclear energy may seem odd. But the reason is simple. AI computing places considerable power demands on the electrical grid -- a problem that many believe can be ameliorated by a data center embrace of nuclear energy.

Experts believe that the sizable power demands that AI is causing will continue to escalate. According to consulting firm McKinsey and Company, demand for AI-ready data center capacity could rise at an average annual rate of 33 percent between 2023 and 2030."

Artificial Intelligence

Artificial intelligence is the use of machines to mimic human intelligence.

To put in perspective the growing size of data centers, consider the fact that Oracle (ORCL 1.43%) chairman and chief technology officer Larry Ellison stated on the company's first quarter 2025 conference call that it's developing an 800-megawatt (MW) data center that "will contain acres of Nvidia (NVDA -2.85%) GP clusters able to train the world's largest AI models." Three small modular nuclear reactors (SMRs) are planned to power the data center. McKinsey estimates that the average data center size is 200 MW.

Government attention to nuclear energy is another factor motivating investors to take a closer look at this niche of the energy sector. Providing support for the nuclear industry, the Biden Administration revealed a framework that attempts to have the United States deploy 200 gigawatts of net new nuclear energy capacity by 2050.

Understanding nuclear energy

While investors may recognize the strong attention that nuclear energy is receiving right now, many may still be unclear about what exactly nuclear energy entails. And since the best investors are well-informed investors, it's worth taking a quick look at how nuclear energy is used to generate electricity.

Essentially, nuclear energy results from two types of reactions: nuclear fission and nuclear fusion. These days, nuclear power plants generate electricity from nuclear fission, the process of splitting the nucleus of an atom into smaller parts, which results in the production of free neutrons and lighter nuclei, along with a large amount of energy. This process generates substantial amounts of heat, which is then used to produce steam for driving turbines connected to electricity generators.

Unlike the situation with burning fossil fuels, no carbon dioxide is produced when electricity is generated as a result of nuclear fission.

Three top nuclear energy ETFs to buy in 2024

While investing in individual nuclear energy stocks is certainly a valid approach, those interested in mitigating risk may find nuclear energy ETFs more appealing since the downturn of an individual stock that's part of a fund will have a less ruinous effect on one's portfolio than investing in a single stock.

1. Global X Uranium ETF

With 51 holdings in its portfolio and $3.6 billion in assets under management, the Global X Uranium ETF (URA -0.65%) provides investors with ample exposure to the nuclear energy industry. Besides companies that produce uranium, the ETF includes businesses that make nuclear components and provide services for nuclear power plants.

Cameco (CCJ -1.08%), a leading producer of uranium, represents the largest position in the Global X Uranium ETF with a 24.4% weighting. Small modular reactor stocks NuScale Power (SMR -2.37%) and Oklo (OKLO -0.08%) also find themselves among the top 10 largest positions with weightings of 3.6% and 3.1%, respectively.

Due to the large position that Cameo occupies as well as the high weightings of other uranium producers like Uranium Energy (UEC -1.17%) and Denison Mines (DNN -1.56%), energy stocks represent the largest sector in the portfolio at 65%, while industrials and materials are the next two largest sectors represented.

The Global X Uranium ETF has a 0.69% total expense ratio.

2. Sprott Uranium Miners ETF

Characterizing itself as "the only ETF to provide pure-play exposure to uranium miners and physical uranium essential to nuclear power," the Sprott Uranium Miners ETF (URNM -0.32%) attempts to invest at least 80% of its total assets in securities found in the North Shore Global Uranium Mining Index -- an index which strives to track the performance of companies dedicating at least 50% of their assets to the uranium mining industry.

Cameco again stands as the largest position with a 16.8% weighting in the ETF, which has 38 holdings overall and net assets of $1.7 billion. Besides established uranium producers like Cameco and Denison Mines, the Sprott Uranium Miners ETF includes exploration stage companies such as Ur-Energy (URG -2.92%).

The Sprott Uranium Miners ETF has a 0.75% total expense ratio.

3. VanEck Uranium and Nuclear ETF

Unlike the previously mentioned nuclear energy ETFs, the VanEck Uranium and Nuclear ETF (NLR 0.08%) will appeal to investors who are also looking to generate some passive income since it has a 12-month yield of 3.7% and makes annual distributions.

The ETF, which has 27 holdings, has the usual suspects of nuclear energy stocks like Cameco and Denison Mines, but it also gives strong weighting to utility stocks that operate nuclear power assets among its holdings. Energy sector stocks and utilities stocks represent 44.6% and 41.5% of the portfolio, respectively.

Constellation Energy (CEG 1.01%), for example, is the largest position in the fund with a 7.9% weighting, and Public Service Enterprise Group (PEG 1.8%) is the third-largest position with a 7% weighting.

The VanEck Uranium and Nuclear ETF has a 0.61% net expense ratio.

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6of1, Yes, the nuclear sector got a big boost from the recent Trump executive orders. The huge demand for mega gobs of continuous power for AI and data centers makes nuclear the obvious solution. New nuclear plants are already being built in large numbers around the world, so the US is playing catch up.

With nuclear stocks though, one thing I worry about is that somewhere in the world a nuclear power plant will be blown up by a missile / drone, and that will throw a major wrench into the sector. An exploded nuclear plant would make a sizable part of that country uninhabitable for centuries. Once the extreme vulnerability of these plants to attack is realized, many countries would reverse course on nuclear.

One conservative stock in the sector is BWX Technologies (BWXT). In addition to the US navy's nuclear ships and submarines, BWXT has commercial operations, so it is well diversified -


>>> BWX Technologies, Inc. (BWXT) manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The company manufactures precision naval nuclear components, reactors, and nuclear fuel; close-tolerance and high-quality equipment for nuclear applications; critical nuclear components, fuels and assemblies for government and limited other uses; down blend government stockpiles of uranium; and fabricate fuel-bearing precision components. It also supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers; research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications. In addition, the company manufactures commercial nuclear steam generators, nuclear fuel, fuel handling systems, pressure vessels, reactor components, heat exchangers, tooling delivery systems; and containers for the storage of nuclear fuel and other high-level nuclear waste. Further, it supplies nuclear fuel, fuel handling systems, tooling delivery systems, nuclear-grade materials and precisely machined components; and manufactures medical radioisotopes, radiopharmaceuticals, and medical devices. Additionally, it provides specialized engineering services that include structural component design, 3-D thermal-hydraulic engineering analysis, weld and robotic process development, electrical and controls engineering and metallurgy and materials engineering; in-plant inspection, maintenance and modification services; and non-destructive examination and tooling/repair solutions. It also offers nuclear power plant lifecycle support services. The company was formerly known as The Babcock & Wilcox Company and changed its name to BWX Technologies, Inc. in June 2015. BWX Technologies, Inc. was founded in 1867 and is headquartered in Lynchburg, Virginia.

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https://finance.yahoo.com/quote/BWXT/profile/


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[6of1]

why are you the only poster on this board? these stocks are hotter than quantum stocks

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>>> Nuclear Stocks Reach Critical Mass: The Time to Buy Is Now


Market Beat

By Thomas Hughes

May 27, 2025


https://finviz.com/news/66782/nuclear-stocks-reach-critical-mass-the-time-to-buy-is-now#


Nuclear Energy

The U.S. nuclear energy has just reached critical mass. A series of Executive Orders unleashed by the Trump Administration reduced red tape, focusing attention on “advanced nuclear technologies, paving the way for the United States to become a global leader in nuclear technology, fuel, and services.

Due to the many references to size and scalability, advanced nuclear technologies can be translated as small modular reactors, or SMRs. Investors should take away that stocks like NuScale Energy (NYSE: SMR) and Oklo (NYSE: OKLO) are uniquely positioned to benefit from these developments, as seen in their stock prices.

Both stocks gained solid double-digit amounts on the news. Oklo led with a gain that topped out above 25%, followed by a slightly smaller increase in SMR shares. The moves were accompanied by significantly increased volume, about 4.5x the 30-day average for OKLO and 3.5x for SMR, a sign of short-covering and rapidly shifting market sentiment.

The short interest on these stocks was above 15% for OKLO and 20% at the end of April. It is likely much lower now and will likely continue falling in the coming weeks.

What exactly does the executive order do? First, it establishes advanced nuclear technology as critical for national security. The energy it provides is considered necessary to support not only the nation's AI interests but also its military installations. The order aims to speed up the deployment process for SMR technology by reducing red tape, prioritizing clearances and approvals, and establishing timelines for advancement.

Among them are a three-year deadline to develop a program for building and operating SMRs at U.S. military installations and a 30-month deadline to identify and begin developing SMR sites on Federal lands.

Oklo Has an Advantage Over NuScale Power

The Executive Orders are good news for Oklo and NuScale, but Oklo increased its advantage over NuScale.

Not only is it on track to begin commercialized operations of its first reactor years ahead of NuScale, but its fuel sources are now assured. One of Oklo’s technological advantages is the use of HALEU fuel. HALEU or high-assay low-enriched uranium is of higher quality than the traditional, standard low-enriched fuel used today, the fuel used primarily by NuScale reactors.

The critical detail is that the Executive Order directs the Secretary of Energy to release 20 metric tonnes of HALEU into a fuel bank for the private sector.

Centrus Is a Win for Nuclear Investors

Centrus Energy (NYSE: LEU) is another benefactor of the Trump orders and central to Oklo’s advantage. The company operates a centrifuge cascade for purifying HALEU fuel and partners with Oklo. The two are working to establish a co-located facility that includes a reactor, fuel-recycling facility, and HALEU cascade.

The goal is to produce, efficiently use, and recycle fuel for Oklo reactors and the nuclear industry.

The reaction from Centrus Energy analysts has been positive, including numerous initiated ratings in 2025 and an aggressive price target. The consensus in late May assumes a 25% upside in addition to the 20% gain sparked by the orders.

Technically, the 20% target is low because moving to that level will break this stock from a trading range and cross a critical pivot point. In that scenario, the stock could rise by $60 to 100% from the critical target, and the forecasts for OKLO and SMR are more robust.

Centrus Energy Stock chart

The technical indications for SMR and OKLO suggest a 200% gain from the critical resistance targets. Those targets are at the all-time highs, the tops of long-term trading ranges, and likely reached by early to mid-summer 2025 if not sooner.

The question is whether these markets will continue to attract new money or if the gains will be capped at resistance. The odds are high that new funds will continue to flood into this market because of the business tailwinds and outlook for revenue and profits.

Oklo, for one, will likely have commercialized operations within the next 24 months, will begin producing significant revenue immediately, and will profit soon after.

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>>> Trump Signs Orders to Revive US Leadership in Nuclear Power


Bloomberg

by Jennifer A. Dlouhy

May 23, 2025


https://finance.yahoo.com/news/trump-signs-orders-revive-us-181453260.html


(Bloomberg) -- President Donald Trump on Friday signed orders meant to accelerate the construction of nuclear power plants, including small, untested designs that offer the promise of rapid deployment but haven’t yet been built in the US.

The effort is a bid to meet a coming surge in electricity demand and help the US reclaim its edge in nuclear energy. While the country was once the leader in deploying and producing nuclear power, it’s finished building only two new reactors in the last 30 years and shuttered existing plants, even as China and Russia race to deploy them.

Trump’s initiative to unleash nuclear energy could give a boost to an emission-free source of power that’s championed as a climate-friendly alternative to electricity generated by burning coal and natural gas. However, the president has cast nuclear energy as a complement, rather than a replacement, for fossil fuels.

“We’re signing tremendous executive orders today that really will make us the real power in this industry,” Trump said as he issued the directives in the Oval Office, adding that nuclear technology “has come a long way, both in safety and costs.”

Trump was joined by Interior Secretary Doug Burgum, Defense Secretary Pete Hegseth and energy industry executives including Constellation Energy Corp. CEO Joseph Dominguez and Jake DeWitte of Oklo Inc.

The initiative represents the latest bid by an American president to jump start the domestic nuclear industry, which has languished in recent decades. Former President Joe Biden last year laid out a plan to triple US nuclear capacity by 2050, and Trump’s new plan aims to quadruple it. It also comes as technology companies are clamoring for power to supply energy-hungry data centers.

The effort is likely to give a boost to companies developing small reactors, including Last Energy Inc., Oklo, TerraPower LLC and NuScale Power Corp.

One of the orders also aims to get 10 large, conventional reactors under construction by 2030, potentially benefiting Westinghouse Electric Co., whose gigawatt-scale AP1000 design was the last commercial nuclear unit built in the US and has been embraced worldwide.

Trump’s nuclear initiative also would encourage the use of government financing to support the restart of shuttered nuclear plants, target 5 gigawatts worth of upgrades at existing sites and help spur the completion of others — potentially aiding South Carolina utility Santee Cooper’s bid to resume building two reactors at its V.C. Summer plant, where soaring costs prompted the company to halt construction in 2017.

However, Trump’s nuclear push comes as lawmakers move to phase out a government subsidy that’s seen as critical to helping propel construction of new reactors and support existing plants. Developers have said the change would create a significant barrier to building nuclear plants.

Under a bill that passed the House early Thursday, new and expanded advanced nuclear projects would be eligible to receive clean energy tax credits only as long as they begin construction by the end of 2028, while tax credits for existing nuclear power plants would expire at the end of 2031.

Trump’s initiative aims to spur construction of at least one reactor at US military installations. That would allow nuclear energy to power and operate critical defense facilities and AI data centers, a senior White House official said. And, because that approach doesn’t involve commercial plants, it lets developers bypass the customary approval process through the Nuclear Regulatory Commission.

In the meantime, the NRC would also get an overhaul. Trump is ordering a reorganization of the agency and a culling of its workforce in consultation with the president’s Department of Government Efficiency cost-cutting program, along with fixed timelines for license approvals and “a wholesale revision” of its regulations.

While some developers have decried the lengthy and expensive process to secure NRC approval for proposed designs and renew licenses for existing facilities, some nuclear power advocates worry the effort may backfire by sparking regulatory upheaval and uncertainty. If new reactor designs can’t be fully vetted within the president’s proposed 18-month deadline, they warn, the models could even be rejected altogether, an outcome that would likely undermine Trump’s deployment goals.

Trump is also ordering the NRC reconsider radiation limits, saying its reliance on safety models assuming there is no safe exposure threshold has led to “a myopic policy of minimizing even trivial risks.”

Some energy experts have expressed alarm about the president’s plan to strengthen the domestic supply chain for nuclear fuel, potentially creating a market for reprocessed radioactive material and surplus plutonium stockpiles. Former US Energy Secretary Ernest Moniz this week warned that the proposal may lead “to the creation of additional stocks of weapons-usable materials.”

The president is also embracing the Energy Department’s Loan Programs Office as a potential source of financing for nuclear projects. Under Trump’s orders, the office would be directed to prioritize activities and resources for restarting shuttered plants, increasing output at existing sites, completing construction of unfinished reactors and building new advanced-nuclear units.

Constellation’s Dominguez said current permitting processes waste time, especially as data center operators and hyperscalers seek out 24/7 power supply. “We need to do this for America,” he said alongside Trump.

Reactors currently supply almost a tenth of the world’s power, including about 100 gigawatts of capacity in the US. Advocates say the industry needs to grow threefold by 2050 to help avoid the most catastrophic consequences of climate change. Like wind and solar plants, nuclear generates electricity without producing the greenhouse gas emissions that drive global warming. But reactors also have the advantage of running around the clock, delivering the non-stop power that’s in-demand from artificial intelligence companies and data center operators.

The US was at the vanguard of installing nuclear power plants for decades, but China is now the world’s top builder, with roughly 30 reactors under construction. Russia, meanwhile, has spent years honing its own technology and has exported reactors to buyers in India, Iran and elsewhere.

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>>> Oklo Inc. (OKLO) develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to the customers in the United States. It also commercializes nuclear fuel recycling technology that converts nuclear waste into useable fuel for its reactors. Oklo Inc. is based in Santa Clara, California.

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>>> Centrus Energy Corp. (LEU) is a trusted supplier of nuclear fuel and services for the nuclear power industry. It is the only American company with proven enrichment technology, giving it a significant advantage in the current trade tensions. LEU has also received a boost due to nuclear energy regaining the spotlight during the ongoing AI boom.

Centrus Energy Corp. (NYSEAMERICAN:LEU) also posted strong results for its Q1 2025 this week, reporting an EPS of $1.6 and beating expectations by a significant $1.65. The company’s revenue also surged by 67.3% YoY to $73.1 million, topping estimates by almost $5 million. Moreover, Centrus has expressed confidence in its compelling investment case for the $3.4 billion in funding that Congress has provided to jumpstart domestic nuclear fuel production.

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https://finance.yahoo.com/news/why-centrus-energy-corp-leu-124045280.html



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>>> Why Centrus Energy Stock Was Soaring This Week


by Eric Volkman

Motley Fool

May 9, 2025


https://finance.yahoo.com/news/why-centrus-energy-stock-soaring-115214628.html


Key Points

The company did better than expected in its first quarter, especially on the bottom line.

It's also benefiting by operating in a hot segment of the energy market.


According to data compiled by S&P Global Market Intelligence, Centrus Energy (NYSEMKT: LEU) stock was having quite the run with an almost 21% price rise week to date as of early Friday morning. Investors clearly liked what they saw of the nuclear fuel and services supplier's latest set of quarterly earnings, released after Wednesday's market close.

A huge surprise on the bottom line

That's because Centrus absolutely crushed the average analyst estimate for its first-quarter profitability, and convincingly topped that for revenue.

The quarter saw Centrus book slightly over $73 million on the top line, a vast improvement over the less than $44 million it earned in the same period of 2024. In another impressive feat, it flipped hard into the black on the bottom line, reporting a more than $27 million ($1.60 per share) net profit one year after absorbing a loss of slightly over $6 million.

The bottom-line result was so far ahead of the consensus analyst estimate as to be on a different planet. Pundits tracking Centrus stock were expecting the company to post another loss, at $0.02 per share. The company also trounced the average pundit expectation of under $71 million for revenue.

Support at the highest levels of power

In one of those fortunate bits of timing, Centrus' fine quarter came on the heels of renewed interest in nuclear energy. President Donald Trump has flagged it as a segment worthy of revival and development, to the point where the Department of Energy published a document titled "11 Big Wins for Nuclear in Trump Administration's First 100 Days."

Momentum is clearly on the side of nuclear companies like Centrus, and its recent performance only makes the stock that much more compelling. This is certainly a company to watch in the coming months, and even years.

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>>> Dow wants to power its Texas manufacturing complex with new nuclear reactors instead of natural gas


AP

by JENNIFER McDERMOTT

March 31, 2025


https://finance.yahoo.com/news/dow-wants-power-texas-manufacturing-183503604.html


Dow, a major producer of chemicals and plastics, wants to use next-generation nuclear reactors for clean power and steam at a Texas manufacturing complex instead of natural gas.

Dow's subsidiary, Long Mott Energy, applied Monday to the U.S. Nuclear Regulatory Commission for a construction permit. It said the project with X-energy, an advanced nuclear reactor and fuel company, would nearly eliminate the emissions associated with power and steam generation at its plant in Seadrift, Texas, avoiding roughly 500,000 metric tons of planet-warming greenhouse gas emissions annually.

If built and operated as planned, it would be the first U.S. commercial advanced nuclear power plant for an industrial site, according to the NRC.

For many, nuclear power is emerging as an answer to meet a soaring demand for electricity nationwide, driven by the expansion of data centers and artificial intelligence, manufacturing and electrification, and to stave off the worst effects of a warming planet. However, there are safety and security concerns, the Union of Concerned Scientists cautions. The question of how to store hazardous nuclear waste in the U.S. is unresolved, too.

Dow wants four of X-energy's advanced small modular reactors, the Xe-100. Combined, those could supply up to 320 megawatts of electricity or 800 megawatts of thermal power. X-energy CEO J. Clay Sell said the project would demonstrate how new nuclear technology can meet the massive growth in electricity demand.

The Seadrift manufacturing complex, at about 4,700 acres, has eight production plants owned by Dow and one owned by Braskem. There, Dow makes plastics for a variety of uses including food and beverage packaging and wire and cable insulation, as well as glycols for antifreeze, polyester fabrics and bottles, and oxide derivatives for health and beauty products.

Edward Stones, the business vice president of energy and climate at Dow, said submitting the permit application is an important next step in expanding access to safe, clean, reliable, cost-competitive nuclear energy in the United States. The project is supported by the Department of Energy’s Advanced Reactor Demonstration Program.

The NRC expects the review to take three years or less. If a permit is issued, construction could begin at the end of this decade so the reactors would be ready early in the 2030s, as the natural gas-fired equipment is retired.

A total of four applicants have asked the NRC for construction permits for advanced nuclear reactors. The NRC issued a permit to Abilene Christian University for a research reactor and to Kairos Power for one reactor and two reactor test versions of that company's design. It's reviewing an application by Bill Gates and his energy company, TerraPower, to build an advanced reactor in Wyoming.

X-energy is also collaborating with Amazon to bring more than 5 gigawatts of new nuclear power projects online across the United States by 2039, beginning in Washington state. Amazon and other tech giants have committed to using renewable energy to meet the surging demand from data centers and artificial intelligence and address climate change.

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>>> TerraPower

https://en.wikipedia.org/wiki/TerraPower#:~:text=Natrium%20fuel%20is%20made%20from,5%20and%2020%20percent%20uranium.

TerraPower, LLC

Company type Private

Industry Nuclear power

Founded 2006

Founder Bill Gates

Headquarters Bellevue, Washington, United States

Key people -

Bill Gates
(Chairman)

Chris Levesque
(President & CEO)

Products Natrium Sodium-Cooled Fast Reactor, Molten Chloride Fast Reactor, Traveling wave reactor

Website terrapower.com

TerraPower is an American nuclear reactor design and development engineering company headquartered in Bellevue, Washington. TerraPower is developing a class of nuclear fast reactors termed traveling wave reactors (TWR).[1]

TWR places a small core of enriched fuel in the center of a much larger mass of non-fissile material, in this case depleted uranium. Neutrons from fission in the core "breeds" new fissile material in the surrounding mass, producing Plutonium-239. Over time, enough fuel is bred in the area surrounding the core that it can undergo fission, enabling a steady-state reactor composition to be approximated by moving outer fuel rods towards the core as original core fuel rods are moved to the periphery.[2]

In September 2015, TerraPower signed an agreement with state-owned China National Nuclear Corporation to build a prototype 600 MWe reactor unit at Xiapu in Fujian province, China, from 2018 to 2025.[3] Commercial power plants, generating about 1150 MWe, were planned for the late 2020s.[4] However, in January 2019 it was announced that the project had been abandoned due to technology transfer limitations placed by the Trump administration.[5]

In October 2020, the company was chosen by the United States Department of Energy as a recipient of a matching grant totaling between $400 million and $4 billion over the ensuing 5 to 7 years to build a demonstration reactor using their "Natrium" design. Natrium uses liquid sodium as a coolant (reducing the cost using an ambient pressure primary loop). It then transfers that heat to molten salt, which can be stored in tanks and used to generate steam on demand, enabling the reactor to run continuously at constant power, while allowing dispatchable electricity generation.[6]

History

TerraPower is partly funded by the US Department of Energy (DOE) and Los Alamos National Laboratory.[7] One of TerraPower's primary investors is Bill Gates (via Cascade Investment). Others include Charles River Ventures and Khosla Ventures, which reportedly invested $35 million in 2010. TerraPower is led by chief executive officer Chris Levesque. In December 2011 India's Reliance Industries bought a minority stake through one of its subsidiaries and its Chairman Mukesh Ambani joined the board. Other TerraPower participants include[8] scientists and engineers from Lawrence Livermore National Laboratory, the Fast Flux Test Facility, Microsoft, and various universities, as well as managers from Siemens, Areva NP, the ITER project, Ango Systems Corporation, and DOE.

SK Group agreed to invest $250 million in 2022. The round was co-led by SK Inc and SK Innovation and Gates. DOE gave TerraPower cost-share funding through the Advanced Reactor Demonstration Program (ARDP) to test, license and build an advanced reactor within seven years.

TerraPower selected Kemmerer, Wyoming as the site for a 345 MWe Natrium reactor using a molten salt energy storage system. The reactor can temporarily boost output to 500 MWe, enabling the plant to integrate with renewable resources.[9] In June 2024 the site broke ground, beginning preparation for the as-yet unapproved reactor.[10] It is estimated to cost $4 billion, with the DOE supplying half of that cost, and Gates contributing $1 billion of his money.[11]

Mission

Company objectives include:[12]

Exploring significant improvements to nuclear power using 21st century technologies, state-of-the-art computational capabilities and expanded data.

Evaluating the impact of new concepts on the fuel cycle, from mining to spent fuel disposal.

Pursuing independent private funding.

Designs

Traveling wave reactor

TerraPower chose traveling wave reactors (TWRs) as its primary technology. Their major benefit is high fuel utilization that does not require nuclear reprocessing and could eliminate the need to enrich uranium.[13] TWRs are designed to convert typically non-fissile fertile nuclides (U-238) into fissile nuclides (Pu-239) in-situ and then shift power production from the "burned" region to the "bred" region. This allows the benefits of a closed fuel cycle without the expense and proliferation-risk of enrichment / reprocessing plants. Enough fuel for between 40 and 60 years of operation could be included in the reactor during manufacturing. The reactor could be installed below ground, where it could operate for an estimated 100 years.[14] TerraPower described its reactor design as a Generation IV design.[15]

Environmental effects

By using depleted uranium as fuel, the new reactor type could reduce depleted uranium stockpiles.[16] TerraPower notes that the US harbors 700,000 metric tons of depleted uranium and that 320 metric tons could power 100 million homes for a year.[17] Reports claim that TWR's high fuel efficiency, combined with the ability to use uranium recovered from river or sea water, means enough fuel is available to generate electricity for 10 billion people at US per capita consumption levels over million-year time-scales.[2]

Research and development

The TWR design is still in research and development. The conceptual framework was simulated by supercomputers with empirical evidence for theoretical feasibility. On November 6, 2009, TerraPower executives and Bill Gates visited Toshiba's Yokohama and Keihin Factories in Japan, and concluded a non-disclosure agreement with them on December 1.[18][19][20] Toshiba had developed an ultracompact reactor, the 4S, that could operate for 30 years without fuel handling and generated 10 megawatts.[20][21][22] Some of the 4S technologies are considered to be transferable to TWRs.[19]

Molten salt reactor

In October 2015 the company was reported to be investigating a molten salt reactor design with Southern Company as a technology alternative.[23][24] In February 2022, it was announced that the two companies had agreed to build a demonstration fast-spectrum salt reactor at Idaho National Laboratory (INL).[25] In 2023, the US Department of Energy announced a project to build a test reactor using high-enriched fuel (HEU) containing as much as 90% 235 U, contradicting the country's longer-term project to remove HEU from all reactors.[26]

Sodium fast reactor (Natrium)

Natrium combines a molten sodium reactor with a 1 GWh molten salt energy storage system. Sodium offers a 785-Kelvin temperature range between its solid and gaseous states, nearly 8x that of water's 100-Kelvin range. Without requiring costly and risky pressurization, sodium can absorb large amounts of heat. It is not at risk of decomposition at high temperature as water does. Natrium primarily uses austenitic stainless steels for components in contact with molten sodium, due to the nature of the components involved a protective oxide layer is formed on the steels in the presence of the sodium, inhibiting further corrosion.[27] Corrosion monitoring systems utilizing Ultrasonic testing are in place to detect any potential issues. Regular maintenance and inspections help identify and address corrosion concerns before they become significant.

Natrium fuel is made from high-assay, low enriched uranium (HALEU). HALEU is enriched to contain between 5 and 20 percent uranium. The fuel is in the form of metal uranium slugs that are housed within steel tubes to form fuel rods. Whilst this metallic fuel has a melting point much lower than the ceramic pellets used in light water reactors it also has higher heat conduction. Plant sites are expected to be smaller and 4x more efficient than conventional plants. Natrium control rods descend using only gravity in case of equipment damage/failure. Power output is a constant 345 MWe. The plant is designed to run at 100 percent output, 24/7. The storage system is designed to work in tandem with intermittent energy sources, responding to their spikes and crashes. It can produce 150% of the rated power output, or 500 MWe for 5.5 hours.[28]

In June 2021, TerraPower and PacifiCorp (a subsidiary of Warren Buffett's Berkshire Hathaway Energy) announced plans to build a joint Natrium reactor.[29] Four cities in Wyoming affected by closure of fossil-fuel power plants were under consideration for the demonstration reactor: Gillette, Kemmerer, Glenrock and Rock Springs, Wyoming.[30] PacificCorp does business in Wyoming as Rocky Mountain Power and has a coal power plant in each of the candidate locations.[31] It was announced November 16, 2021 that Kemmerer had been selected. Groundbreaking ceremony was held on June 10, 2024.[32] The power station is designed to consist of two adjacent parts: an "energy island" and a "nuclear island". Construction of a "nuclear island" is planned to begin in 2026.[32] The commercial power plant could be operational by 2030.[33][34]

See also

Wikimedia Commons has media related to TerraPower.

Fast breeder reactor
Small modular reactor
Generation IV reactor
Sodium-cooled fast reactor

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>>> AI Is Fueling A 'Nuclear Renaissance.' Bill Gates And Jeff Bezos Are In The Mix.

AI data centers fuel nuclear power demand

The sharp growth in big data centers to handle AI demands has an unexpected beneficiary: nuclear power.


Investor's Business Daily

07/12/2024


https://www.investors.com/news/artificial-intelligence-ai-data-centers-demand-nuclear-energy/


A year ago, as the artificial intelligence boom gathered momentum, Oklo (OKLO), the nuclear power startup backed by OpenAI head Sam Altman, was discussing deals to supply customers with megawatts worth of energy. Today, its clients want 1,000 times that much.

Jacob DeWitte, chief executive of the developer of small, fast-fission nuclear plants, sensed that the business was poised to ramp up. But "the rate at which it's happened and the timing at which it started was all faster than we expected," DeWitte said in an interview.

The trigger: The artificial intelligence frenzy that erupted when ChatGPT opened the world's eyes to the wonders of generative artificial intelligence. Organizations of all kinds jacked up development of AI applications. That's driving up demand for data centers where the resource-intensive programs could run. And all those data centers suck up electricity — lots of it. Suddenly, long-maligned nuclear power technology started to look attractive. Especially to the tech companies and executives with the biggest need for more electricity.

How much energy demand will be filled by nuclear power is unclear. Some analysts are skeptical that capacity will ramp up enough to meet a big part of data centers' needs. But Amazon.com (AMZN), Microsoft (MSFT) and Google-parent Alphabet (GOOGL) have all made bets on nuclear power supply. Bill Gates has become a leading investor in the technology. Jeff Bezos is backing a nuclear startup in Canada.

Nuclear Stock Options

In stock market terms, Oklo — which has yet to deliver an operating, commercial reactor — has been anything but a highflying stock. Its shares are trading below their 2021 IPO price of 10. But select utility stocks and supplier companies have shot higher. Constellation Energy (CEG) trades 88% higher for 2024. Vistra (VST) rocketed 139% this year. Public Service Enterprise (PEG) was up 26% after a breakout on Tuesday. Shares of Curtiss-Wright (CW), which supplies products and services to nuclear plants, gained 27%.

"This growth that we are beginning to see now, it's been unprecedented in my career and I've been in the energy and utility space for three decades," FuelCell Energy Chief Commercial Officer Mark Feasel told IBD. FuelCell Energy (FCEL) is a leading provider of site-based, hydrogen-fed generators that help reduce corporate carbon footprints.

"Not only is it unprecedented, but it's really unanticipated," Feasel added. "Just a few years ago, there was a lot of talk of a utility doom loop."

Artificial Intelligence And Data Centers' Power Appetite

The International Energy Agency says more than 7,000 data centers are in operation or development worldwide. That's up from 3,600 in 2015.

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In the U.S., McKinsey & Co. projects that data center energy demand will grow around 10% every year through the end of the decade. In 2022, the 2,700 data centers consumed around 4% of total U.S. electricity, according to the IEA. The agency projects that by 2026, they'll make up 6% of electricity use.

Goldman Sachs projected in April that U.S. data centers will use 8% of total power by 2030. This translates to about 2% demand growth per year. Analysts expect a 40% demand jump over the next 20 years, compared with just 9% growth in the past two decades.

Bill Gates, Jeff Bezos And Sam Altman Get In On Nuclear

At the American Nuclear Society's annual conference in June, a Microsoft executive said the company's electricity load growth, its projected increase in power needs, was manageable four years ago. But around 18 months ago, as the AI charge started, Microsoft's load growth curve soared. It "went from being exponential to kind of looking like a wave and bending back over on itself," he said.

"With load growth where it is, we need continued development of clean, firm resources, and nuclear fits that bill," said Adrian Anderson, general manager of energy and sustainability at Microsoft.

Amazon and Alphabet also have placed low-emission nuclear power high on their list of energy sources for their artificial intelligence and data centers.

Tech figures leaned toward nuclear energy even before ChatGPT arrived. In late 2021, Amazon founder Jeff Bezos and other investors raised more than $130 million in venture capital for General Fusion, a British Columbia, Canada-based nuclear company. The next year, Google kicked off a $250 million fundraising round for TAE Technologies, a nuclear fusion startup.

Then, in June 2023, Microsoft signed a deal with Constellation Energy, a leading U.S. nuclear power supplier, to add nuclear-generated, "carbon-free electricity" for its Virginia data centers.

Amazon made a move toward nuclear in March, paying $650 million for a Talen Energy (TLNE) nuclear-powered data center campus in Pennsylvania. Amazon arranged for the Amazon Web Services, or AWS, facility to eventually get up to 960 megawatts of electricity from Talen's Susquehanna nuclear site. That's enough to power hundreds of thousands of homes.

Two utilities, American Electric Power (AEP) and Exelon (EXC), challenged Amazon's plan. They claim around $140 million in costs a year could shift to ratepayers. They called on the Federal Energy Regulatory Commission to review the deal.

Amazon reportedly plans to invest more than $100 billion in AI and data centers over the next decade.

Oklo Bets On Future

Meanwhile, others play their hands. In early June, Bill Gates and his energy company TerraPower broke ground in Kemmerer, Wyo., on their new Natrium nuclear power plant.

The company applied to the Nuclear Regulatory Commission in March for a construction permit. The project is for an advanced nuclear reactor that uses sodium, not water, for cooling. If the NRC approves, it aims to operate as a commercial nuclear power plant. At this point, no links are reported to data centers.

Santa Clara, Calif.-based Oklo agreed in May to supply data centers being developed by Wyoming Hyperscale with 100 megawatts of clean power for the next 20 years.

The startup is also working on advanced fuel-recycling technologies. It works in collaboration with the U.S. Department of Energy and U.S. National Laboratories. Altman, the OpenAI CEO, serves as Oklo chairman and has since 2015.

Nuclear development can be a one-step-up, two-steps-back dance. In 2022, the Nuclear Regulatory Commission denied Oklo's application for its Aurora powerhouse in Idaho. The commission cited a lack of safety information. Last October, the Air Force rescinded its intent to award Oklo a contract for a microreactor pilot program to power a base in Alaska.

Oklo, confident that federal regulators will approve the project, says it is still on track to first deploy energy in 2027. The company says more deals are in the pipeline and it has "tremendous uptake of customer interest."

Small Modular Nuclear: Not Yet

Observers note that nuclear power makes sense for top hyperscalers — the largest cloud, data center and artificial intelligence providers. Small modular reactors, or SMRs, can be located on-site at data centers. They can provide consistent, uninterrupted power without external connections. This might lower data center power costs by eliminating or reducing transmission and distribution charges. Such fees can represent as much as half of a typical electric bill.

David Porter, vice president of electrification and sustainable energy strategy for the Electric Power Research Institute, told IBD that hyperscalers and other data center developers have "great interest" in small modular nuclear reactors.

But while he sees "huge potential," Porter says those new reactors "aren't going to have a role" in supplying data centers with energy until at least 2030. That's due to the slow process of developing the technology.

Another note of caution comes from Wood Mackenzie. It sees U.S. nuclear generation capacity, which now totals around 98 gigawatts, growing by less than 12 gigawatts through 2050. Of that new capacity, most will be small modular reactors.

"In short, nuclear would be too little, too late to manage the massive demand we'll confront this decade," said Wood Mackenzie analyst Ben Hertz-Shargel.

Nuclear Energy: $1.5 Trillion In Investment?

Morgan Stanley analysts, on the other hand, believe a "nuclear renaissance" is underway. They wrote recently that nuclear power, while still a divisive issue, is making a comeback. The firm sees $1.5 trillion in investment in new capacity through 2050.

Morgan Stanley has overweight ratings on eight stocks across the global nuclear "value chain." They include Constellation Energy, Vistra, Public Service Enterprise and Curtiss-Wright. Also, CGN Power H-shares, China; CGN Mining, Hong Kong; Paladin Energy, Australia; and Kansai Electric Power, Japan.

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The interest in nuclear power is a boon for a U.S. industry that for decades saw flat energy generation. A double-digit number of plants were poised to shut down as solar, wind and natural gas dominated the energy discussion.

The industry also carries baggage. Three Mile Island, Chernobyl and Fukushima still loom large in the minds of utilities and their insurers. And long-term safety and environmental concerns over storing and disposing of radioactive spent fuel rods create resistance to new nuclear development.

Federal rules call for all nuclear facilities to store their spent, radioactive fuel rods on site. This is typically done in indoor steel-lined, concrete pools. In cases where spent rods are stored in dry canisters, the Nuclear Regulatory Commission requires constant monitoring, and re-licensing every 20 years.

Nuclear Energy Resistance Meets Artificial Intelligence Zeal

Still, the AI boom appears to be brushing at least some of that resistance aside. Craig Piercy, chief executive for the American Nuclear Society, said in an interview that the nuclear industry did not realize the potential energy demand for artificial intelligence and data centers until six to nine months ago.

"It's put a lot of wind in the nuclear industry's sails," Piercy said.

Enverus analyst Carson Kearl told IBD that part of the reason for the nuclear renaissance is that people who are bullish on technology "tend to be optimistic about nuclear."

"Large tech companies, being very optimistic about technology, are financially able and willing to invest in nuclear," he said.

Kearl notes that the cost of a nuclear power plant to a utility is substantial. But for a company like Google, "It's a drop in the bucket compared to their data center expenses."

"The scale of investment in nuclear technology is larger than ever," he said.

Fuel For Nuclear Power

Fuel is an issue that new plants will need to solve, though. Uranium spot prices are forecast to climb 45% to $84.56 per pound in 2024, according to FactSet. The analyst consensus has average uranium prices at $88.75 per pound in 2025 before declining to $71 per pound in 2028. Uranium averaged just $25.87 per pound in 2019.

Piercy says Congress has effectively prohibited Russian uranium imports. That means the U.S. will need "more domestic enrichment capacity in this country."

Russia has historically provided around 20% of the U.S. enriched uranium supply, according to Piercy.

"We're in a transition period away from a time where we ignored the national security aspects of nuclear fuel supply and really just kind of focused on free markets or global markets," he said.

"You can't have a growth in new nuclear without a growth in uranium supply," Piercy added.

DeWitte told IBD that fuel is one of the major limitations to Oklo's growth rate.

"Right now, enriched uranium to be used in reactors is in short supply for everybody, not just advanced reactors, for everybody, especially with the Russian ban," Oklo CEO DeWitte said.

AWS And Constellation In Discussions?

Meanwhile, AWS is nearing a deal with Constellation Energy for power supplied directly from a nuclear plant on the East Coast, according to the Wall Street Journal. In an interview with IBD, Constellation Energy Chief Financial Officer Daniel Eggers would not comment about the potential deal.

"We are having, as probably many are, meaningful conversations with large players in the technology industry who all want to move forward with AI and the data center needs associated with them," Eggers said.

Oracle's AI Pipeline Is Still Strong Even Without Musk Startup Deal

"There's a clear understanding that the need for speed to market is a real consideration — to keep the technological advantage here in the United States," he said.

Vistra has also been in reported discussions for deals at both nuclear and natural gas-power plants. But Wood Mackenzie's Hertz-Shargel cautioned that announcements may not equate to building projects.

"We always remind people that we are in a supply-constrained environment in the U.S., so it will be limited by how much grid capacity and generation capacity exists that can accommodate this kind of growth," he said.

Constellation Energy Forecasts

To keep things real, CFO Eggers told IBD that analysts could be overshooting Constellation Energy's demand growth as a result of artificial intelligence and data centers.

"When we see some of the discussion out there of how big this is or how fast it is (growing), I think we have to take a bit of a measured view on how fast this is all coming," he said.

He suspects a fair amount of double counting, "or even more than double counting that you're seeing in those numbers."

Eggers points out that Constellation Energy has excess reserves and room to absorb more demand growth. The company is looking to add around 1,000 megawatts of capacity, according to Eggers.

AI Vs. Carbon Emission Goals

Clean air goals play into the nuclear trend. Nucor (NUE), Microsoft and Google in March announced the Advanced Clean Electricity request for information, or RFI. The initiative targets development of reliable, low- or zero-carbon electricity generation technologies, including advanced nuclear.

The partners are all looking to be carbon-emissions-free by 2050. But Google, aiming for net-zero emissions from company operations by 2030, has hit a snag. The tech giant reported this month in its 2024 environmental report that its greenhouse-gas emissions rose 13% last year. They reached 14.3 million metric tons, which was up 48% from 2019. The company blamed energy used at its data centers.

"Reducing emissions may be challenging due to increasing energy demands from the greater intensity of AI compute," Google says in the report.

Microsoft looks to be "carbon negative, water positive and zero waste" by 2030. It also plans to match 100% of its electricity generation with zero-emissions sources by 2030. But in May, Microsoft said carbon emissions increased 30% from 2020 levels, also due to its ramp-up of artificial intelligence.

Steel producer Nucor also aims to be carbon-emission-free by 2050. Like its Big Tech partners, Nucor is looking to nuclear. It has a $15 million strategic investment in NuScale Power (SMR), which designs and small modular reactors.

More Than Nuclear Power For AI Data Centers

Nuclear is just one technology looking to capitalize on the artificial intelligence boom. Data center demand has natural gas producers, hydrogen plays and solar power operations all jockeying for deals.

Enverus estimates that natural gas might add 40 gigawatts of generating capacity over the next decade. Enverus analyst Kearl notes that solar energy is moving much faster. It's expected to add 30 to 40 gigawatts of capacity each year for the next decade.

Yet analysts say gas-fired generators are the likely path if the U.S. needs a lot more power quickly.

"It's much harder to scale down and ramp up a nuclear power plant or a coal power plant," Kearl said.

Nuclear Is One Part Of The Discussion

Energy suppliers are also looking to offer data centers "bridge power solutions." This tends to be an option offered by natural gas and fuel cell developers to data centers that can't connect to the grid on an acceptable timeline. The data centers would get an on-site or nearby generation facility for two to three years. This allows them to operate quickly and not wait for the grid.

Feasel, of FuelCell Energy, said data centers have been the company's "largest growth of inbound opportunity over the last year." He expects that trend to continue. Some companies are willing to pay a premium for environmentally responsible energy sources, he says.

"When you think about the hyperscalers, they have very specific sustainability goals and targets, and they have their own zero-carbon targets. So that's a really important part of the mix for them," Porter said.

Porter adds, though, that he sees all the energy sources playing a major role to meet the needs of the grid.

"Optionality is the best way to go forward for the grid, and it's a combination of all those things," he said. "But what really needs to grow is that firm, dispatchable, clean energy," he added. "You know, nuclear fits into that bucket."

U.S. Electrical Production Trend

Since the late 2000s, U.S. electrical production has been largely flat. In 2023, about 60% of electricity was from fossil fuels — 43% from natural gas and 16% from coal. Renewable energy made up 21%. Nuclear power totaled just under 19%, according to the Energy Information Administration.

That is a significant shift from 1994, when natural gas was 13%, coal 52% and nuclear plants 20% of total U.S. electricity.

Electricity generation from zero-carbon sources such as wind and solar has ramped up in recent years. In 2022, U.S. energy consumption from renewable sources surpassed that from nuclear for the first time since 1984. U.S. nuclear energy generation began in the late 1950s and has remained fairly constant since the early 2000s.

But by all accounts that flat line is about to change.

Can The Electric Grid Hold The Load?

Already, increased power use in the U.S. is delaying coal and natural gas plant closures. That puts pressure on federal carbon-cutting efforts, according to Wood Mackenzie's Hertz-Shargel.

In Northeastern states, the regional transmission organization, PJM, expects data centers to increasingly drive electricity demand. PJM forecasts a rise in summer peak load from 151 gigawatts in 2024 to 178 gigawatts by 2034.

"The grid is not prepared," Hertz-Shargel said.

He says the U.S. needs more transmission infrastructure, which usually takes about a decade to complete.

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"We're in this very ironic state where we have too much demand and we have too much supply, and it's the grid that is insufficient to allow our too much demand to meet with our too much supply," he said.

Kearl, the Enverus analyst, told IBD the U.S. grid is possibly ready to start making changes to support the increase in demand amid expanding use of artificial intelligence. But the timeline will be hampered by "current infrastructure build-out challenges."

"Expect lower reliability and higher costs for consumers, while energy producers might make more money on the supply side by producing less energy but being paid to exist," he said.

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>>> BWXT Awarded Historic Manufacturing Contracts to Support Pickering Life Extension and Darlington New Build Projects


Business Wire

January 27, 2025


https://finance.yahoo.com/news/bwxt-awarded-historic-manufacturing-contracts-213900330.html


CAMBRIDGE, Ontario, January 27, 2025--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today contracts with a total value of more than C$1 billion for two major nuclear energy projects that will enable Ontario Power Generation’s (OPG) life extension of the Pickering Nuclear Generating Station, and the deployment of a new small modular reactor (SMR) at the Darlington site.

Under the first contract, BWXT will manufacture 48 steam generators at its Cambridge facility for the Pickering life extension program. The project will create more than 250 highly skilled trades positions, including welders, fitters and machinists, as well as add more engineers and supporting staff. The duration of the project will be more than seven years, with a significant portion booked in fourth quarter 2024. BWXT is performing the work for its customer CanAtom, a joint venture between AtkinsRéalis and Aecon.

BWXT also announced a contract to manufacture the reactor pressure vessel (RPV) for customer GE Hitachi Nuclear Energy’s BWRX-300 SMR. The largest component within the technology, the RPV contains the reactor core, coolant and support structures. BWXT is the first manufacturer in North America to begin this type of work for an SMR technology and will play a key role in the deployment of SMRs across Canada and the world. This order was booked in second quarter 2024.

The Province’s Minister of Energy and Electrification Stephen Lecce joined BWXT at its Cambridge, Ontario, facility for the announcement.

"Ontario needs more nuclear energy to meet growing electricity demand, and it’s our province’s highly skilled workers that will make it all possible," said Stephen Lecce, Minister of Energy and Electrification. "I am so pleased to work with companies like BWXT that are investing in Ontario and in our workers, as we continue to cement Ontario’s position as a global leader in new nuclear technologies."

"The BWXT team stands ready to help our customers and Ontario create a future that provides abundant, emissions-free electricity, while increasing sustainable, good-paying jobs for Canada," said John MacQuarrie, president, BWXT Commercial Operations. "We’ve been taking strategic steps to further meet the current and anticipated demand for nuclear power. These significant projects leverage BWXT’s extensive capabilities and specialized expertise in the delivery of large components for the domestic and global nuclear industry."

"The contract to fabricate the reactor pressure vessel for the first BWRX-300 is another key milestone in the deployment of this technology," said Lisa McBride, Canada Country Leader, GEH. "We are excited to be working with BWXT to move this project forward, while bringing benefits to manufacturing workers in Ontario."

The Pickering Life Extension Program is in its initial phases and will enable the Pickering "B" fleet of reactors to operate for an additional 30 years. The work is anticipated to be completed in the mid-2030s. Pickering features four operating CANDU® reactors and accounts for approximately 10% of Ontario’s electricity needs.

"By refurbishing existing assets at Pickering Nuclear, and building SMRs at the Darlington New Nuclear Project, OPG is helping Ontario meet rapidly growing demand for low-carbon, reliable baseload nuclear energy," said Nicolle Butcher, OPG President CEO. "Ontario’s robust nuclear supply chain, including trusted partners like BWXT, will help ensure these large nuclear projects have the components necessary to complete these projects on time, on budget, safely and with quality."

"CANDU technology, as Canada’s only domestically developed, large scale nuclear technology, is a source of national pride," said Joe St. Julian, President, Nuclear, AtkinsRéalis. "We are pleased to continue working with BWXT as a major player in the CANDU supply chain and a proud Canadians for CANDU supporter. The CANDU reactors at OPG are indispensable to providing Ontario with energy security and reliable, clean power to millions of people. Their refurbishment and continued operation helps to support many Ontario jobs."

"The Pickering Refurbishment Project will help ensure the supply of clean, safe, reliable, and affordable electricity for future generations while stimulating the economy and further expanding Ontario’s strong nuclear supply chain. We look forward to safely delivering this critical project and advancing our work with BWXT alongside our client OPG and partner AtkinsRéalis," said Aaron Johnson, Senior Vice President, Nuclear, Aecon Group Inc.

The BWRX-300 scheduled for the OPG Darlington New Nuclear Project is on track to be the first on-grid SMR among G7 nations. The design is a 300-MWe water-cooled, natural circulation SMR with passive safety systems that leverages the design and licensing basis of GEH’s U.S. NRC-certified ESBWR.

Already one of the largest commercial nuclear equipment manufacturing facilities in North America, the BWXT Cambridge facility is undergoing preparatory work for its C$80 million expansion to further support current and anticipated demand for nuclear projects in Ontario and around the world.

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>>> China is building half of the world’s new nuclear power despite inland plants pause


Global Energy Monitor

by Joe Bernardi and Ye Huang

August 2024


https://globalenergymonitor.org/report/china-is-building-half-of-the-worlds-new-nuclear-power-despite-inland-plants-pause/


China has expanded its nuclear power capacity at the fastest rate of any country in the 21st century, according to new data from Global Energy Monitor. Despite a moratorium on inland nuclear plants imposed after the Fukushima disaster, China is building enough capacity to overtake France within the next few years and hold the world’s second-largest nuclear fleet. Nearly half of the world’s nuclear power under construction is located in China. Its government has promoted nuclear power to shore up baseload capacity in the electricity sector and to help achieve its targets for carbon peaking before 2030 and carbon neutrality by 2060. But not all of the proposed buildout may come to fruition. Less than one-third of China’s planned nuclear capacity has begun construction, and China already has more cancelled nuclear capacity than any other country as a result of its pivot away from inland nuclear plants. By contrast, China has about two-thirds of the world’s utility-scale solar and wind power under construction, which, along with promising advancements in utility-scale battery technology, may reduce the need for continued additions of nuclear power.

China is approaching France in operational nuclear power capacity

China is emerging as a world leader in nuclear power, according to research from GEM’s Global Nuclear Power Tracker, which includes over 1,405 gigawatts (GW) of nuclear capacity from over 1,540 units worldwide. China’s total operational capacity of 58.1 GW is a close third behind France’s at 64.0 GW. Those two countries, plus the United States with its 102.5 GW in operation, account for well over half of the world’s operational nuclear capacity.

China surpasses France by count of operational nuclear power units, with 58 to France’s 56. (However, the difference may be negligible as two of the 58 units in China are very small power-generating reactors whose purpose is primarily experimental.) China has consistently ranked above France in annual electricity generation from nuclear sources for four consecutive years.

Comparing the nuclear power fleets of China, France, and the United States — the top three countries by nuclear generation in 2023 — helps illustrate the different roles that nuclear plays in these countries’ energy profiles. The United States generated 775 terawatt hours (TWh) from nuclear, accounting for just over 18% of its 4,249 TWh total power generation. France’s 336 TWh of generation from nuclear made up 65%, or just under two-thirds, of its 514 TWh total generation. But China’s 435 TWh of nuclear generation made up only 5% of its 9,462 TWh of total generation. (The global average is 9% of electricity from nuclear power.)

China is the largest generator of electricity in the world by far, with more than double the generation of the second-ranked country, the United States. So despite nuclear’s growth within China, its percentage share of generation is still much smaller than the corresponding global average, in large part because the “denominator” in the equation, total Chinese electricity demand, is so substantial. In addition, coal-fired power still accounts for well over half of all Chinese power generation.

The United States still leads the world by a sizable margin in terms of total operating nuclear capacity. While China’s nuclear power growth is perhaps the most notable among the world leaders in nuclear power, it is not alone in expanding capacity in recent decades. Several of the other top ten countries by operating nuclear power have added capacity in the last ten to fifteen years, including Russia, South Korea, and India.

China's prospective nuclear capacity ambitions

GEM data on prospective facilities — that is, announced, pre-construction, and under construction — indicate which countries intend to continue expanding nuclear power in the coming years. Although the United States currently leads all countries with 94 operational nuclear power units and a total capacity of 102 GW, China's ongoing construction progress is positioning it to shrink the U.S.-China difference over the next decade. China has 118 GW of prospective capacity, which puts the country not only first worldwide for this metric, but also surpasses the second through eighth place countries combined. India, the country with the second-largest prospective nuclear capacity, has a substantial 31.7 GW of prospective nuclear power, but China’s current plans call for additions of over four times that amount.

This growth reflects a targeted effort by the Chinese government to rapidly expand nuclear capacity. The 14th Five-Year Plan (2021-2025) aims to increase the size of the country’s total operational fleet to 70 GW by 2025. In each of the first three completed years of this plan, there have been between four and six nuclear units starting construction, and two to three units entering commercial operation. China had 50 GW of active capacity at the beginning of 2021, meaning that additions of 20 GW would be needed in five years’ time. Currently, it is a little under half of the way there, with 58.1 GW as of early Q3 2024.

China may fall just short of its goal. Currently, the expected start date data would translate to China having 63 GW online by the end of 2025. But 2026 would then see a further 8 GW added, putting China at 71 GW — not only above the 70 GW mark from the 14th Five Year Plan, but also overtaking France’s 66 GW for the second-largest nation by operating nuclear capacity.

China would need more than 100 GW of operational capacity to surpass the U.S. as the country with the largest nuclear power fleet. Some predictions have this happening as early as the end of the decade, but GEM data at the project level do not currently show this rapid of a change. GEM data only show start years for Chinese nuclear units through 2029, meaning that projections for 2030 or beyond are still indistinct. Only about 25% of China’s 118 GW of prospective capacity has a target start year, which would bring the country to a total of 88 GW in operation. Most of the rest of this prospective capacity represents facilities that are not yet under construction, having only been announced or entering pre-construction stages.

In a scenario where all prospective capacity enters operation, and assuming no retirements before that point, China would easily surpass the United States for the world’s largest operational nuclear fleet, 177 GW to 110 GW. Of course, not all prospective facilities will actualize, and real-world scenarios may include retirements or other temporary but prolonged shutdowns. But at face value, current GEM start year data would also suggest that no further additions to the Chinese nuclear fleet will occur after 2029, which should not be expected either.

Drivers for these changes include the Chinese government’s goals of meeting continued increases in energy demand while also decreasing reliance on coal, a key contributor to emissions and air pollution. The “Action Plan for Carbon Dioxide Peaking Before 2030,” a pivotal policy document, discusses these objectives and the overarching strategy to ensure that the country reaches peak carbon emissions before 2030 and achieves carbon neutrality by 2060. Nuclear is not the only power sector undergoing a Chinese buildout. As detailed in a recent GEM briefing, China is home to almost two-thirds of the world’s utility-scale solar and wind power under construction.

Although Chinese provincial governments are involved in site selection and local approvals, the central government ultimately plays a critical role in the strategic direction of China’s nuclear power program. It has had the effect of both promoting and restraining nuclear power development across different parts of the country. As discussed further below, the central government slowed the pace of overall Chinese nuclear capacity additions with a moratorium on new projects and tighter safety regulations that deprioritized new inland nuclear plants.

China's nuclear buildout shows a shift to a new generations and technological advancements

China is playing a significant role in the development and deployment of new technologies in nuclear power, specifically Generation III and Generation IV reactors. There are four generations of nuclear power plants, categorizations determined by the time of their development and by specific groupings of technological design. Generation II plants account for the majority of operational capacity worldwide. The nuclear fleets of the United States and France fit this pattern, with most of their reactors classified as Generation II. In addition, some Generation III reactors are operational in these and other countries. Generation III reactors generally have modifications on Generation II reactors, including additional safety design elements that are intended to reduce the need for active controls or operational intervention to prevent accidents in the event of a malfunction.

Like that of the United States and France, China’s operational nuclear fleet is still majority Generation II in terms of total capacities, but this balance is shifting as more Generation III reactors come online. In 2006, China initially announced plans for the AP1000 to serve a foundational role in its fleet — a Generation III reactor designed by the U.S.-based company Westinghouse. The AP1000 has since entered operation at four Chinese nuclear units, the first of which was Unit 1 of the Sanmen nuclear power plant in September 2018. However, China has since also designed and implemented its own Generation III reactors: One notable example is the HPR1000, also named the Hualong One. This design is operational at four Chinese nuclear units and under construction at an additional thirteen, with its increasing use promoted in the 14th Five-Year Plan. China is also deploying the Hualong One internationally, with two operational units in Pakistan and a prospective unit in Argentina. With this reactor design and others, China is not only aiming to meet more of its domestic nuclear energy needs with its own technology, but is also seeking to establish itself as a technological leader and supplier for the international nuclear power market.

China is also involved in advancing nuclear technology with Generation IV designs, the next evolutionary stage in reactor design. In December 2023, the world’s first Generation IV nuclear unit officially entered commercial operation at the Huaneng Shandong Shidao Bay nuclear power plant. Called the HTR-PM (High-Temperature Reactor Pebble-bed Module), it relies on two small reactors that drive one steam turbine with an overall output capacity of 211 MW. This capacity is less than one-fifth of the average capacity of currently operational Generation III reactors in China, which is around 1150 MW according to GEM data. As an example of a small modular reactor (SMR) — a classification often discussed as part of the future of the nuclear power industry — this reactor is designed with intentions of more flexible deployment and quicker construction. China has also proposed a scaled-up version of this design which would yield a larger nameplate capacity of 650 MW.

Frosty outlook: China's inland plant ice persists

As ambitious as China’s nuclear buildout has been and may continue to be, capacities would have been even higher if not for the indefinite suspension of all plans for inland nuclear power plant construction following the Fukushima nuclear accident in 2011. After Fukushima, the Chinese government imposed a moratorium on the approval process for inland nuclear power plants, and development has continued to stagnate for over a decade, prompted by concerns about safety and environmental impacts. Nuclear power plants need sufficient water sources for cooling purposes, and they discharge trace amounts of radioactive wastewater. Coastal nuclear power plants benefit from access to seawater for cooling, facilitating absorption of trace amounts of pollution by the ocean. But inland nuclear plants must rely on nearby rivers or lakes for cooling water, a fact which, alongside general safety reviews, has been cited as a central concern leading to the moratorium.

China’s 14th Five-Year Plan, covering the years 2021 to 2025, omitted any mention of inland nuclear power, instead emphasizing the deployment of nuclear facilities in coastal regions. GEM data corroborate the lack of construction or pre-construction activities at any inland Chinese nuclear power plants. The Global Nuclear Power Tracker reveals that China had 185 inland nuclear units cancelled. With a combined capacity of 201 GW, this cohort of cancelled Chinese units is larger than either the currently operational U.S. fleet (102 GW) or the total amount of nuclear capacity ever cancelled in the United States (172 GW). The Chinese units affected by the moratorium are shown with a GEM-assigned status of “cancelled - inferred 4 y” as consistent with GEM’s Methodology, because after their initial announcement, they fell out of more recent planning documents, and no progress has been observed for over four years.

However, the classification of “cancelled” for these plants carries some nuance. In the abstract, any of these facilities could re-enter official plans and progress forward to completion. While it appears extremely unlikely that all of them will do so, the idea of lifting the moratorium has been a subject of discussion in light of China’s ambitious goals of carbon peaking by 2030 and carbon neutrality by 2060. For example, the topic of initiating construction on inland nuclear power plants was proposed during the 14th Chinese People's Political Consultative Conference (CPPCC) National Committee First Session in spring 2023.

Among the projects affected by the moratorium, some may be more likely candidates to eventually move forward than others. The following three projects may have a relatively smoother pathway toward eventual construction and operation: the Taohuajiang nuclear power plant in Hunan province, the Xianning Dafan nuclear power plant in Hubei Province, and the Jiangxi Pengze nuclear power plant in Jiangxi province. These three had already commenced pre-construction preparations with initial investments.

Owners of cancelled inland nuclear projects were encouraged to preserve the site for energy generation purposes. For instance, Jiangxi Nuclear Power CO LTD, the owner of the Jiangxi Pengze facility, has used the site for developing wind and solar renewable energy projects. This approach has resulted in the commissioning of a solar farm in 2020 and a wind farm in 2021.

This situation also highlights some central questions regarding nuclear’s place in the energy transition, including how it compares to wind and solar in terms of nameplate capacity and risks for delays or cancellations. While the original project plans called for a total nuclear capacity of 4000 MW, less than 5% of that capacity is now operational via wind and solar facilities on the same site. But country-wide, the relationship is essentially inverted, as China has added significantly more wind and large utility-scale solar capacity than nuclear capacity. China’s currently operational nuclear capacity is only about 14% that of its wind capacity and 16% of its large utility-scale solar capacity, according to GEM data.

Nuclear has historically performed differently than wind and solar within the generation stack, serving a baseload role with a much higher capacity factor while wind and solar are intermittent. However, the roles of wind and solar are expected to shift with continued advancements in utility-scale battery technology. China’s once-envisioned inland nuclear fleet also underscores risks for nuclear power which are not nearly as prevalent for wind and solar: postponements and cancellations. GEM data show that China’s total cancelled nuclear capacity of 201 GW is more than 30 times that of its cancelled wind facilities, and more than 40 times that of its cancelled large-scale utility solar facilities. With China’s ambitious nuclear buildout ongoing, it will be important to continue to monitor the rate of cancellations compared to additions.

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Rickards - >>> Uranium Wars


By James Rickards

December 14, 2024


https://dailyreckoning.com/uranium-wars/


Uranium Wars

Uranium production is best understood as an industry played out on a geopolitical chessboard.

Enriched uranium is used to fuel nuclear reactors. The degree of enrichment is not high. Natural uranium (sometimes called yellowcake) has about 0.7% U-235 isotope. This is enriched to 3% to 5% for use in most reactors (called low-enriched uranium or LEU). Some specialized reactors require uranium enriched to 20% U-235 isotope, but those are rare.

Uranium is also used in nuclear weapons, especially fusion thermonuclear bombs. Those are enriched to a minimum of 20% U-235 and more often are enriched to 90% U-235 (highly enriched uranium, HEU) for the most powerful weapons.

Uranium itself is not rare, but its mining and production are controlled by only a few countries working with source countries. The real stranglehold on HEU is the enrichment process itself, which is highly technical and, again, controlled by a handful of countries.

Countries with large or expanding nuclear arsenals (U.S., Russia, China and North Korea) will do what they have to do to obtain HEU. They are not price sensitive, but they are not large drivers of the world price either. The main driver is the demand for LEU for use in nuclear reactors. The two leading builders of nuclear reactors, both for domestic use and for export, are Russia and France. (The U.S. has good nuclear reactor technology and building capacity, but it is highly constrained by regulations as part of the green new scam).

France’s yellowcake comes almost exclusively from Niger. Russia has diverse sources including Russia itself, Kazakhstan, Uzbekistan and now Ukraine. China gets uranium from inside China and Namibia and South Africa. India sources uranium from mainly inside India.

A recent coup d’état in Niger has thrown France’s supply situation into turmoil. There is no evidence yet that Russia planned the coup; it was most likely indigenous. When I traveled in West Africa and Central Africa in the early 1980s, I was accustomed to staying in hotels with artillery shells and machine gun bullet holes in the facades from the last coup.

Still, it is clear that Russia is fanning the flames among the revolutionary forces and helping to keep the coup forces alive. The U.S. and UK conducted a clandestine coup in Ukraine in 2014 that deposed a pro-Russian president. One can almost hear Putin saying to himself, “Two can play.”

Meanwhile, France failed in its efforts to organize a multilateral force around the Economic Community of West African States (ECOWAS). France proposed to supply well-trained French Foreign Legion and other special forces to the effort. U.S. efforts to intervene have also failed.

Russia’s reaction was to deploy Wagner Group mercenaries to support the coup. What is likely at this point is more chaos and at least a temporary cut-off of exports of uranium from Niger.

My first visit to the Niger capital of Niamey was memorable. It happened in 1981, over forty years ago. Niamey is completely surrounded by the Sahara Desert. It’s not near the desert; it’s in the desert. When it was built, it was more of an oasis on the Niger River but the Sahara is highly dynamic. It moves, sometimes hundreds of miles in any direction, creating more desert and even leaving green areas behind that become more fertile. Niamey was a place that was swallowed by the Sahara.

I was there as a senior officer of Citibank from the head office in New York checking in on the Niamey branch. (I covered francophone Africa at the time including Côte D’Ivoire, Senegal, and the Congo, formerly Zaire). My hotel room was interesting. The shower was a marked-off area of the bedroom with a drain and a small fringe to keep water from spreading. There was no shower curtain. The shower itself was a hose with a garden-type nozzle. It worked fine.

I looked out the window in the morning and saw something I had only seen in movies and never expected to see in real life – a caravan. It was a real one with camels tied together in a line laden with goods and camel drivers riding a few, and some herders walking alongside. They wore turbans and robes and were headed out into the desert. I’m not sure where they were going. Timbuktu is not far in case you’re in the neighborhood.

Finally, I made it to the office and sat across from the Chief Country Officer. Before we got down to business, I told the Chief I had a question.

“I understand what I’m doing here, but what are we doing here? Why on earth does Citibank have an office in such a primitive and deserted place?”

The Chief looked at me like I was the new kid on the block. (I was). He answered my question with one word: “Uranium.”

He went on, “We’re here to keep an eye on the uranium and keep an eye on the French. We use finance as needed as a tool to maintain economic control.”

At that time, it wasn’t unusual for the CIA to use bank and energy company officials as sources working under non-official cover. I quickly understood what I had walked into.

I suppose the hotels are nicer today and the caravans are mostly gone. What has not changed is the importance of uranium and the competition among the U.S., Russia and France for access. Now that the French presence has been ejected and the U.S. presence has been stymied, we’ll see how things play out.

More chaos and possibly war are next on the agenda. That creates its own uncertainties. What is certain is that Russia will be the winner. The chaos alone will result in a higher price for uranium. If Russia prevails, they will tighten their stranglehold on global supply and leave the French in desperate straits.

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>>> Iran plans new uranium-enrichment expansion, IAEA report says


Reuters

by Francois Murphy

11-29-24


https://www.msn.com/en-gb/news/world/exclusive-iran-plans-new-uranium-enrichment-expansion-iaea-report-says/ar-AA1uWEzc?ocid=TobArticle


VIENNA (Reuters) -Iran has informed the U.N. nuclear watchdog that it plans to install more than 6,000 extra uranium-enriching centrifuges at its enrichment plants and bring more of those already in place online, a confidential report by the watchdog said on Thursday.

The International Atomic Energy Agency report seen by Reuters details what Iran meant when it said it would add thousands of centrifuges in response to a resolution against it that the IAEA's 35-nation Board of Governors passed last week at the request of Britain, France, Germany and the United States.

More enrichment capacity means Iran can enrich uranium more quickly, potentially increasing the nuclear proliferation risk. Iran denies seeking nuclear weapons but Western powers say there is no civil explanation for enriching uranium to up to 60% purity, close to the roughly 90% that is weapons grade, which no other country has done without producing a nuclear bomb.

The only enrichment level specified for new centrifuges was 5% purity, far from the 60% Iran is already producing. The lower purity, particularly at its Fordow site, could be seen as a conciliatory move by Iran as it seeks common ground with European powers before the return of U.S. President-elect Donald Trump, though enrichment levels can be changed easily later.

Iran already has well over 10,000 centrifuges operating at two underground plants at Natanz and Fordow and an above-ground pilot plant at Natanz. The report outlined plans to install 32 more cascades, or clusters, of more than 160 machines each and a massive cascade of up to 1,152 advanced IR-6 machines.

At the same time, the number of cascades Iran plans to install vastly outnumbers those that are already installed and that Iran said it would now bring online by feeding them with uranium feedstock, which the IAEA verified it had yet to do.

"The Agency has determined and shared with Iran the changes required to the intensity of its inspection activities at FFEP (Fordow Fuel Enrichment Plant) following the commissioning of the cascades," the report said, referring to Iran's plan to bring eight recently installed IR-6 cascades there online.

Fordow is particularly closely watched because it is dug into a mountain and Iran is currently enriching to up to 60% there. The only other plant where it is doing that is the above-ground Pilot Fuel Enrichment Plant at Natanz.

REBUFFED

Just before last week's quarterly meeting of the IAEA board, Iran offered to cap its stock of uranium enriched to up to 60%, but diplomats said it was conditional on the board not passing a resolution against Iran.

Although the IAEA verified Iran was slowing enrichment at that highest level and called it "a concrete step in the right direction", the board passed the resolution regardless, repeating a call on Iran to improve cooperation with the IAEA.

Thursday's report said Iran had finished installing the last two cascades of IR-2m centrifuges in a batch of 18 at its vast underground Fuel Enrichment Plant at Natanz, and that it planned to bring all 18 online, though the IAEA verified on Nov. 26 that no uranium had been fed into them.

Iran also told the agency it intended to install 18 extra cascades of IR-4 centrifuges at that Natanz plant, each with 166 machines, the report said.

At the above-ground pilot plant at Natanz, Iran informed the IAEA it planned to take various steps that suggested it would increase the number of full, rather than small or intermediate, cascades there, which could produce more enriched uranium.

It also said it planned to install one cascade of up to 1,152 IR-6 centrifuges at that pilot plant, which could be the biggest cascade by far in Iran yet.

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>>> Constellation Energy, nuclear stocks plummet after regulators block Amazon power deal


Yahoo Finance

by Laura Bratton

November 4, 2024


https://finance.yahoo.com/news/constellation-energy-nuclear-stocks-plummet-after-regulators-block-amazon-power-deal-151109123.html


Constellation Energy stock (CEG) fell 12.5% Monday amid a broader decline in nuclear power stocks following the US government's rejection of another Big Tech nuclear power agreement late Friday.

The Federal Energy Regulatory Commission (FERC) rejected a proposal from a grid operator, PJM, to ramp up the amount of power supplied through the grid from Talen Energy (TLN) to an Amazon (AMZN) artificial intelligence data center. Talen said in a statement on Sunday it believes the FERC "erred" in its ruling, adding the company is "evaluating our options, with a focus on commercial solutions."

Talen Energy dropped 2.2%, while Sam Altman-backed Oklo (OKLO) fell 2.8%, Centrus Energy (LEU) tumbled 28.8%, NANO Nuclear (NNE) dropped 12.8%, Vistra (VST) sank 3.2%, and NuScale Power (SMR) fell 2.8%.

Even with Monday's drop, Constellation Energy stock is up more than 90% this year and is among the best-performing stocks in the S&P 500 (^GSPC).

Big Tech’s interest in nuclear energy has risen substantially as companies look to meet growing demand from power-hungry data centers to run generative artificial intelligence software without falling behind on their climate goals. Amazon, Google (GOOG), and Microsoft (MSFT) have all announced investments in nuclear power.

Constellation entered into a 20-year deal with Microsoft in late September to supply power to one of its AI data centers. The stock is up 36% from three months ago, as the Microsoft deal and Big Tech’s growing interest in nuclear power have sent shares soaring.

Constellation Energy also on Monday reported third quarter adjusted earnings per share of $2.74, ahead of Wall Street’s forecast of $2.65, according to Bloomberg consensus estimates. Its quarterly revenue of $6.6 billion also surpassed the $5.2 billion expected by analysts.

“The importance of AI and the data economy to America’s economic competitiveness and national security can’t be overstated, and Constellation will do our part to meet the moment,” Constellation CEO Joe Dominguez said in a statement Monday.

Still, red tape plagues the industry. Nuclear projects have been subject to stringent regulations in response to high-profile global nuclear meltdowns at Three Mile Island in 1979, Chernobyl in 1986, and Fukushima in 2011.

On average, it takes the US Nuclear Regulatory Commission 80 months to approve nuclear plant construction in the US, according to research cited by Canaccord Genuity.

The FERC said in its filing Friday that it rejected the Amazon nuclear power agreement due in part to concerns that it could threaten the reliability of the power grid and raise energy costs for the public.

Constellation’s deal with Microsoft, which would restart Three Mile Island for the first time following the meltdown, still requires approval from the NRC.

Bipartisan support, however, has mounted to reduce regulatory hurdles. The recently signed ADVANCE Act, for example, speeds up the permitting process for nuclear projects. Both US presidential candidates have signaled support for nuclear energy projects, though Republican nominee and former president Donald Trump recently expressed concerns over safety implications.

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>>> Big Tech is going all in on nuclear power as sustainability concerns around AI grow


Yahoo Finance

by Daniel Howley

October 26, 2024


https://finance.yahoo.com/news/big-tech-is-going-all-in-on-nuclear-power-as-sustainability-concerns-around-ai-grow-201418764.html


Artificial Intelligence has driven shares of tech companies like Microsoft (MSFT), Amazon (AMZN), Nvidia (NVDA), and Google (GOOG, GOOGL) to new highs this year. But the technology, which companies promise will revolutionize our lives, is driving something else just as high as stock prices: energy consumption.

AI data centers use huge amounts of power and could increase energy demand by as much as 20% over the next decade, according to a Department of Energy spokesperson. Pair that with the continued growth of the broader cloud computing market, and you’ve got an energy squeeze.

But Big Tech has also set ambitious sustainability goals focused on the use of low-carbon and zero-carbon sources to reduce its impact on climate change. While renewable energy like solar and wind are certainly part of that equation, tech companies need uninterruptible power sources. And for that, they’re leaning into nuclear power.

Tech giants aren’t just planning to hook into existing plants, either. They’re working with energy companies to bring mothballed facilities like Pennsylvania’s Three Mile Island back online and looking to build small modular reactors (SMRs) that take up less space than traditional plants and, the hope is, are cheaper to construct.

But there are still plenty of questions as to whether these investments in nuclear energy will ever pan out, not to mention how long it will take to build any new reactors.

A nuclear AI age

While solar and wind power projects provide clean energy, they still aren't the best option for continuous power. That, experts say, is where nuclear energy comes in.

“Nuclear energy is, effectively, carbon-free,” explained Ed Anderson, Gartner distinguished vice president and analyst. “So it becomes a pretty natural choice given they need the energy, and they need green energy. Nuclear [power] is a good option for that.”

The US currently generates the bulk of its electricity via natural gas plants that expel greenhouse gases. As of 2023, nuclear power produced slightly more electricity than coal, as well as solar power plants.

Last week, Google signed a deal to purchase power from Kairos Power’s small modular reactors, with Google saying the first reactor should be online by 2030, with plants expected to be deployed in regions to power Google’s data centers, though Kairos didn’t provide exact locations.

Amazon quickly followed by saying just two days later that it is investing in three companies — Energy Northwest, X-energy, and Dominion Energy — to develop SMRs. The plan is for Energy Northwest to build SMRs using technology from X-energy in Washington State and for Amazon and Dominion Energy to look at building an SMR near Dominion’s current North Anna Power Station in Virginia.

Last month, Microsoft entered into a 20-year power purchasing agreement with Constellation Energy, under which the company will source energy from one of Constellation's previously shuttered reactors at Three Mile Island by 2028.

Three Mile Island suffered a meltdown of its other reactor in 1979, but according to the Nuclear Regulatory Commission, there was no serious impact to nearby people, plants, or animals, as the plant itself kept much of the dangerous radiation from escaping.

In 2023, Microsoft announced it would source power from the Sam Altman-chaired nuclear fusion startup Helion by 2028. Altman also chairs the nuclear fission company Oklo, which plans to build a micro-reactor site in Idaho. Nuclear fusion is the long-sought process of combining atoms that produces power without dangerous nuclear waste. No commercial applications of such plants currently exist.

Microsoft founder Bill Gates has also founded and currently chairs TerraPower, a company working to develop an advanced nuclear plant at a site in Wyoming.

Nuclear is expensive and some technologies are still untested

Nuclear power output has remained stagnant for years. According to US Energy Information Administration press officer, Chris Higginbotham, nuclear power has contributed about 20% of US electricity generation since 1990.

Part of the reason has to do with the fear of meltdowns, like the one at Three Mile Island, as well as the meltdowns at Chernobyl in Ukraine in 1986 and the Fukushima Daiichi plant in Japan in 2011.

Chernobyl was the worst meltdown ever, spreading radioactive contamination across areas of Ukraine, the Russian Federation, and Belarus, resulting in thyroid cancer in thousands of children who drank milk that was contaminated with radioactive iodine, according to the Nuclear Regulatory Commission.

Plant workers and emergency personnel were also exposed to high levels of radiation at the scene. The Fukushima plant suffered multiple meltdowns as a result of a massive earthquake and subsequent tsunami, which caused significant damage to three of the plant's six reactors.

But according to the United Nations Scientific Committee on the Effects of Atomic Radiation (UNSCEAR) as of 2021, “no adverse health effects among Fukushima residents have been documented that could be directly attributed to radiation exposure from the accident.”

Outside of the perception, nuclear plants are expensive and take time to construct.

Georgia Power’s two Vogtle reactors came online in 2023 and 2024, after years of delays and billions in cost overruns. The reactors, known as Unit 3 and Unit 4 were originally expected to be completed in 2017 and cost $14 billion, but the second reactor only started commercial operations in April this year. The final price tag for the work is estimated to top out at $31 billion, according to the Associated Press.

The explosion in cheap energy from natural gas has also made it difficult for nuclear plants to compete financially. Now nuclear companies are hoping SMRs will lead the way in building out new nuclear energy capacity. But don’t expect them to start popping up for a while.

“The SMR conversation is really long term,” Jefferies managing director and research analyst Paul Zimbardo told Yahoo Finance. “I'd say almost all of the projections are into the 2030s. The Amazons, the Googles, some of the standalone SMR developers, 2030 to 2035, which is also what some of the utilities are saying as well.”

What’s more, Zimbardo says, power generated by SMRs is expected to cost far more than traditional plants, not to mention wind and solar projects.

“Some of the projections are well above $100 a megawatt hour,” Zimbardo explained. “To put it in context, an existing nuclear plant has a cost profile of around $30 a megawatt hour. Building new wind, solar, depending on where you are in the country, can be as low as $30 a megawatt hour, or $60 to $80 a megawatt hour. So it's a very costly solution.”

Not everyone is buying the promise of SMRs, either. Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists, says the small-scale reactors are still an untested technology.

“Despite what one might think of all the brain power at these tech companies, I don't think they've done their due diligence,” Lyman told Yahoo Finance. “Or they're willing to entertain this as a kind of side show just so they have all their bases covered to deal with this postulated massive expansion and demand for data centers.”

Lyman also takes issue with the idea that SMRs will be able to get up and running quickly and begin providing reliable power around the clock at low cost.

“The historical development of nuclear power shows that it's a very exacting technology, and it requires time, requires effort, requires a lot of money and patience,” he said. “And so I think the nuclear industry has been trying to make itself look relevant, despite their recent failures to meet cost and timeliness targets.”

Still, with tech companies promising an AI revolution that requires power-hungry data centers, nuclear may be the only realistic green choice until solar and wind can take over permanently.

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Advanced Nuclear - >>> Big Tech investments reignite debate over advanced nuclear reactors


Yahoo Finance

by Akiko Fujita

October 27, 2024


https://finance.yahoo.com/news/big-tech-investments-reignite-debate-over-advanced-nuclear-reactors-133016399.html


Small modular reactors (SMRs) have long held the promise of cheaper, more efficient nuclear energy. Their smaller, standardized designs were expected to usher in a new era for an industry historically plagued by cost overruns and safety concerns.

But as major tech firms, including Google (GOOG) and Amazon (AMZN), turn to advanced technologies in hopes of powering their AI ambitions with a low carbon footprint, skeptics are raising questions about their viability, largely because no commercial SMR has been built in the US yet.

Despite the talk of a simplified process, there are only three SMRs operational worldwide — two in Russia and one in China.

"Nobody knows how long they’re going to take to build," said David Schlissel, an analyst at the Institute for Energy Economics and Financial Analysis who has been critical of SMRs. "Nobody knows how expensive they’re going to be to build. We don't know how effective they will be in addressing climate change because it may take them 10 to 15 years to build them."

Nuclear power has received renewed interest because of the global push to move away from fossil fuels to reduce harmful emissions driving climate change. Although wind and solar power offer prevalent, low-cost energy options, nuclear remains an attractive clean alternative, in large part because it can run 24/7 in any season and has a smaller footprint.

SMRs have offered the most promise. Unlike traditional nuclear plants that have been costly and time-consuming, modular reactors are one-third the size, with a power capacity of 300 megawatts or less. The nuclear industry has touted their efficiency and cost savings, as SMRs are built in factories and assembled on-site.

"It reduces the risk associated with the project," said Jacopo Buongiorno, a professor of nuclear engineering at MIT. "For an investor, ... you may recover your investment quicker and with fewer uncertainties in terms of project execution."

'The technology is evolving'

Yet, in many ways, the hurdles facing this new generation of reactors have mirrored the old. Advanced reactor designs have taken longer than projected. Those delays have added to cost overruns.

Oregon-based NuScale (SMR) became the first company to get approval from the Nuclear Regulatory Commission to build SMRs in 2022, but the company canceled plans to deploy six reactors in Idaho last year. The announcement came after costs for the project, scheduled for completion in 2030, ballooned from $5 billion to $9 billion.

Buongiorno said the buildout has been complicated by the array of technologies tested within individual projects. While all SMRs utilize uranium as fuel, its form and application within reactors differ depending on the company and its technology. That’s dramatically different from existing nuclear power plants, which all use uranium dioxide, he said.

“The technology is evolving. We expect the performance of these reactors to be different. But the big question marks are ... what's going to be the reliability? How reliable this technology is going to be, given that we don't have a lot of experience?” Buongiorno said. “Equally, if not more important, what's going to be the cost?”

AI a 'game changer'

X-energy CEO Clay Sell said demand has been part of the problem until now.

Artificial intelligence has changed that calculation, largely because of the energy needs associated with powering data centers that drive AI models, Sell said. Goldman Sachs estimates the advanced technology will contribute to a 160% increase in data center power demand by 2030.

Earlier this month, Amazon announced a $500 million investment in the development of SMRs, including funding for X-energy. That funding will help X-energy complete the design of its standard plant and construct the first facility that will manufacture the fuel used in those plants, Sell said, calling the investment a “game changer.”

“A significant portion of the increased electricity demand in the United States for the next 25 years is going to come from AI," Sell said. "It could be as high as 10%, 20%.”

Kairos Power CEO Mike Laufer, who inked a purchase agreement deal with Google, said his company is still in the process of pursuing non-nuclear demonstrations of the technology. Any “cost certainty” would hinge on a successful demonstration and the company’s ability to manufacture in-house, he said.

“[Cost certainty] has been very elusive in this space,” he said.

There are other challenges beyond cost, including a lengthy regulatory approval process and what to do with all of the nuclear waste.

While nuclear companies maintaining a smaller footprint will mean less waste, a study by Stanford University found that SMRs would increase the volume of nuclear waste “by factors of 2 to 30.”

Schlissel argues that all of the money spent on small reactors should instead go to wind and solar power and battery storage, which are proven to reduce carbon emissions and cost less to produce.

Buongiorno countered that nuclear reactors have a longer shelf life. While the upfront costs may be higher, reactors have a lifespan of 60 to 100 years, he said. With the smaller footprint, SMRs can also be built closer to data centers, minimizing infrastructure costs, he added.

The Department of Energy says nuclear energy is critical to transitioning the country away from fossil fuels. The agency has set aside $900 million in funding for the development of SMRs.

The Energy Department estimates the US will need approximately 700-900 GW of additional clean, firm power generation capacity to reach net-zero emissions by 2050, adding that nuclear energy already provides nearly half of carbon-free electricity in the country.

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>>> Oklo CEO wants to make clean nuclear energy more accessible


Yahoo Finance

by Julie Hyman and Josh Lipton

October 29, 2024


https://finance.yahoo.com/video/oklo-ceo-wants-clean-nuclear-204758791.html


Energy and power grid constraints look to be the biggest hurdles for Big Tech to overcome in the industry's wider buildout of AI data center infrastructure. Tech players have begun investing in nuclear energy developers to find the clean energy output needed to power these expansions.

Oklo Inc. (OKLO) is one of these names benefitting from the trend, its stock having jumped nearly 200% over the past month. The nuclear startup is backed by OpenAI CEO Sam Altman, who is also Oklo's chairman.

Oklo Co-Founder and CEO Jake DeWitte joins Julie Hyman and Josh Lipton on Market Domination to talk about the long-term investments in small modular reactors (SMR) and the intricacies of these systems; Oklo doesn't expect to finish building its first SMR and producing power from it until 2027.

"When you split an atom, you get almost 50 million-times more energy than when you combust like a molecule of natural gas or so. It's incredible," DeWitte tells Yahoo Finance. "What that means, then, is there's a lot of energy in nuclear fuel. And actually in almost all reactors, you only use about 5% of the fuel in one pass through the reactor. And there's reasons why long story short, is you could put more fuel in, it could run for longer. But that comes at increased cost for the added systems you would need to manage all that."

US Secretary of Energy Jennifer Granholm told Yahoo Finance that her department's focus will be on ensuring these AI data centers are powered by clean energy, while understanding the challenge in widespread SMR adoption: "Nobody wants to be the one to buy the first one."

Oklo has already inked energy partnerships with date center providersw Equinix (EQIX) and Wyoming Hyperscale. DeWitte describes the regular business model for nuclear systems as "clunky."

"One of the things that we set out to do in the beginning was, was make it easier to buy what people really want from nuclear systems, in other words, make it easier to buy nuclear power because the clean, reliable, affordable power, that's the stuff people really want," DeWitte explains.

"We're unique because we actually make that easy — we design, we own, we operate the plants, we contract someone to build them, and then we just sell the power out to the customers through off-take agreements. That makes it easy for them to buy what they want."

For more coverage on Big Tech's adoption of nuclear energy, catch Yahoo Finance's respective interviews with X-energy CEO Clay Sell about Amazon's (AMZN) investment into the nuclear reactor designer and Kairos Power Co-Founder and CEO Mike Laufer's input on the nuclear startup's partnership with Alphabet's Google (GOOG, GOOGL).

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NuScale Power - >>> Bill Gates Is Pouring Billions Into Nuclear Power. Is This the Best Nuclear Stock to Buy Now?


Motley Fool

by Jeremy Bowman

October 27, 2024


https://finance.yahoo.com/news/bill-gates-pouring-billions-nuclear-220000776.html


All of a sudden, nuclear energy is trendy.

In the last month, three big tech companies, Microsoft, Alphabet, and Amazon, have all signed deals for nuclear energy. That's not a coincidence. The AI race is forcing the tech giants to reckon with how to power the massive data centers they're building to run AI applications like ChatGPT.

In fact, the biggest constraint in AI may not be the technology itself, but a source of cheap and available energy, and that's why the world's most valuable companies are turning to nuclear, a seemingly forgotten source of energy.

Among the backers of this re-emerging technology is Bill Gates, the Microsoft co-founder who has become an investor and philanthropist in a wide range of areas. Gates has invested more than $1 billion in TerraPower, a privately held start-up that is building small nuclear reactors. The billionaire sees nuclear energy as necessary for bridging the gap in renewable energy and told The New York Times, "If you care about climate, there are many, many locations around the world where nuclear has got to work." He also said he's not involved in TerraPower to make money, but "because we need to build a lot of these reactors."

Since TerraPower is privately held, you can't invest in it, but there's a similar stock that you can buy. That's NuScale Power (NYSE: SMR), and the stock is up more than 400% this year as it's riding the wave of enthusiasm for nuclear power.

What is NuScale Power?

NuScale was founded in 2007 and is focused on developing small, modular reactors. Its core technology, the NuScale Power Module (NPM) can generate 77 megawatts-electrical (MWe).

It's developing the VOYGR power plant that can include as many as 12 NPMs. NuScale's technology offers an advantage over renewable alternatives like wind and solar because it generates an equivalent amount of power in a much smaller space, making a more efficient use of land.

NuScale is also the only small modular reactor (SMR) company to have received a standard design approval (SDA) from the U.S. Nuclear Regulatory Commission.

NuScale also benefits from a close relationship with Fluor, a top engineering, procurement, and construction company that is the majority shareholder in NuScale Power.

The company has yet to generate any material revenue today as it has not yet sold any NPMs, though it's made some negligible service revenue. NuScale faced a setback in 2023 when it canceled a project in Idaho that was expected to build momentum for new nuclear projects. The project was plagued by cost overruns and a lack of sufficient electricity buyers to make the project viable.

Is NuScale Power a buy?

There's no question that NuScale Power is a high-risk stock. After all, the company still isn't generating material revenue, and there's a lot of uncertainty around nuclear power in general.

Still, it's clear that momentum is building rapidly in the sector as the moves of the big tech companies noted above show. Billionaires like Bill Gates are pouring money into the industry for a reason. Not only does nuclear offer a potentially large return, it also looks like the best available climate-friendly power solution to meet growing power needs from AI.

Additionally, NuScale's relationship with Fluor gives it an advantage as Fluor is one of the biggest infrastructure companies and can help NuScale in a range of functions like development, finding customers, and funding.

After the recent rally, NuScale Power might look pricey at a market cap of $1.7 billion and no real revenue, but getting some exposure to the stock could pay off.

Nuclear energy seems likely to play a role in the future of AI, and NuScale Power is well positioned as a leader in SMRs. For patient, risk-tolerant investors, getting a small amount of exposure to NuScale Power could pay off handsomely.

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>>> A Sam Altman-backed nuclear power stock soared 150% in a month


Quartz

by Britney Nguyen

10-18-24


https://www.msn.com/en-us/money/news/a-sam-altman-backed-nuclear-power-stock-soared-150-in-a-month/ar-AA1ssjIO?ocid=BingHp01&cvid=82b6b7fcafc9468ff6f0322eeaa3105d&ei=111


As tech giants turn their attention toward nuclear power for artificial intelligence and data centers, one producer is seeing its shares surge.

Oklo, a nuclear power company that counts OpenAI chief executive Sam Altman as an investor, has seen its shares climb around 150% in the past month. The stock is up almost 50% so far this year. However, during mid-day trading on Thursday, Oklo was down almost 5%.

The Santa Clara, California-based company, which has three project sites, says it’s “developing next-generation fission powerhouses to produce abundant, affordable, clean energy at a global scale.” Oklo’s Aurora powerhouse can produce 15 megawatts of electrical power (MWe), which the company says can scale up to 50 MWe and operate for ten years or longer before needing to be refueled.

Oklo’s shares have been on the up since Microsoft (MSFT) made a 20-year power purchase agreement in September with Constellation Energy (CEG) that will restart the Unit 1 reactor at Three Mile Island. Constellation, which owns most of the U.S.’s nuclear power plants, has seen its shares rise around 36% in the past month. Its stock is up 138% so far this year.

Through the Microsoft and Constellation deal, which will launch the Crane Clean Energy Center (CCEC), Microsoft will purchase energy from the Unit 1 reactor as part of its sustainability goal. The CCEC, which is expected to come online by 2028, will add more than 800 MW of carbon-free electricity to the power grid, a study by the Pennsylvania Building and Construction Trades Council found.

This week, Google (GOOGL) announced it had signed “the world’s first corporate agreement to purchase nuclear energy” from small modular reactors, or SMRs, developed by California-based Kairos Power. The tech giant said it expects to bring Kairos Power’s first SMR online by the end of the decade.

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>>> Utilities outperform the broader markets amid enthusiasm over AI electricity demand


Yahoo Finance

by Ines Ferrér

October 18, 2024


https://finance.yahoo.com/news/utilities-outperform-the-broader-markets-amid-enthusiasm-over-ai-electricity-demand-175702728.html


Utilities have been on fire this year as enthusiasm over booming AI electricity demand pushes the sector higher.

Case in point: The S&P 500 Utilities ETF (XLU) is up a whopping 29% so far this year — the best-performing sector to date, compared to the broader index's 23% rise.

Much of the gains stem from enthusiasm over power producers that stand to benefit from the electrification boom — which includes Big Tech's massive appetite for AI data centers and electric vehicles.

By 2050, electricity is projected to become the largest source of energy worldwide, according to a recent McKinsey study.

Utilities have been the best performers this year.

Also, five of the top 10 returning companies in the S&P 500 this year have been energy companies, noted Matt Sallee, president of Tortoise Capital. “Utilities and midstream infrastructure are going to be secondary beneficiaries of the AI theme,” he said in a recent note.

There’s no better example of that investor fever than the S&P 500's top performer this year, power producer Vistra Corp (VST).

Shares of the Irving, Texas-based company are up 243% year to date, outperforming even AI heavyweight Nvidia (NVDA), up 186% during the same period.

On Thursday, JPMorgan analysts initiated coverage of Vistra along with two other Wall Street favorites, Talen Energy (TLN) and Constellation Energy (CEG) — all with an Overweight rating,

The analysts said the independent power producers (IPPs) stand to benefit from "a paradigm shift in power demand" amid structural tailwinds like manufacturing on-shoring, electrification trends, and data-center development.

"We do not see competitive market supply growth matching this demand, enabling IPPs to capture outsized margins for an extended period of time," wrote JPMorgan's Jeremy Tonet and his team.

As Yahoo Finance’s Julie Hyman pointed out, recent headlines like Microsoft (MSFT) teaming up with Constellation Energy to restart a nuclear reactor at Three Mile Island, and Amazon (AMZN) buying up a data center campus from Talen Energy have put Big Tech and its insatiable need for electricity into the spotlight.

The Utilities Select Sector SPDR Fund (XLU)

But XLU's massive performance this year begs the question — has it topped?

With the broader markets at all-time highs, it may be a good idea to keep investing in defensive stocks like utilities that provide dividends, said Burns McKinney, managing director and senior portfolio manager at NFJ Investment Group.

“There does seem to be a little bit more meat on the bone,” said McKinney, referring to more growth ahead.

If XLU holds its 29.1% year-to-date gains, it will be the best-ever yearly performance for the sector.

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>>> X-energy is a private American nuclear reactor and fuel design engineering company. It is developing a Generation IV high-temperature gas-cooled pebble-bed nuclear reactor design. It has received funding from private sources and various government grants and contracts, notably through the Department of Energy's (DOE) Advanced Reactor Concept Cooperative Agreement in 2016 and its Advanced Reactor Demonstration Program (ARDP) in 2020. <<<


https://en.wikipedia.org/wiki/X-energy


>>> Amazon goes nuclear, plans to invest more than $500 million to develop small modular reactors <<<


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175248320



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>>> Amazon goes nuclear, plans to invest more than $500 million to develop small modular reactors


10-14-24

by Diana Olick

CNBC



Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. AWS, Amazon’s subsidiary in cloud computing, has a massive and increasing need for clean energy as it expands its services into generative AI. It’s also a part of Amazon’s path to net-zero carbon emissions.

AWS announced it has signed an agreement with Dominion Energy, Virginia’s utility company, to explore the development of a small modular nuclear reactor, or SMR, near Dominion’s existing North Anna nuclear power station. Nuclear reactors produce no carbon emissions.

An SMR is an advanced type of nuclear reactor with a smaller footprint that allows it to be built closer to the grid. They also have faster build times than traditional reactors, allowing them to come online sooner.

Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. Earlier this week, Google announced it will purchase power from SMR developer Kairos Power. Constellation Energy is restarting Three Mile Island to power Microsoft data centers.

“We see the need for gigawatts of power in the coming years, and there’s not going to be enough wind and solar projects to be able to meet the needs, and so nuclear is a great opportunity,” said Matthew Garman, CEO of AWS. “Also, the technology is really advancing to a place with SMRs where there’s going to be a new technology that’s going to be safe and that’s going to be easy to manufacture in a much smaller form.”

Virginia is home to nearly half of all the data centers in the U.S., with one area in Northern Virginia dubbed Data Center Alley, the bulk of which is in Loudon County. An estimated 70% of the world’s internet traffic travels through Data Center Alley each day.

Dominion serves roughly 3,500 megawatts from 452 data centers across its service territory in Virginia. About 70% is in Data Center Alley. A single data center typically demands about 30 megawatts or greater, according to Dominion Energy. Bob Blue, its president and CEO, said in a recent quarterly earnings call that the utility now receives individual requests for 60 megawatts to 90 megawatts or greater. Dominion projects that power demand will increase by 85% over the next 15 years. AWS expects the new SMRs to bring at least 300 megawatts of power to the Virginia region.

“Small modular nuclear reactors will play a critical role in positioning Virginia as a leading nuclear innovation hub,” said Virginia Gov. Glenn Youngkin in a release. “Amazon Web Services’ commitment to this technology and their partnership with Dominion is a significant step forward to meet the future power needs of a growing Virginia.”

AWS plans to invest $35 billion by 2040 to establish multiple data center campuses across Virginia, according to an announcement from Youngkin last year.

?These SMRs will be powering directly into the grid, so they’ll go to power everything, part of that is the data centers, but everything that is plugged into the grid will benefit,” Garman added.

Amazon also announced a new agreement with utility company Energy Northwest, a consortium of state public utilities, to fund the development, licensing and construction of four SMRs in Washington State. The reactors will be built, owned and operated by Energy Northwest but will provide energy directly to the grid, which will also help power Amazon operations.

Under the agreement, Amazon will have the right to purchase electricity from the first four modules. Energy Northwest has the option to build up to eight additional modules. That power would also be available to Amazon and Northwest utilities to power homes and businesses.

The SMRs will be developed with technology from Maryland-based X-energy, a developer of SMRs and fuel. Along with Amazon’s other announcements, Amazon’s Climate Pledge Fund disclosed it is the lead anchor in a $500 million financing round for X-Energy. The Climate Pledge Fund is its corporate venture capital fund that invests in early-stage sustainability companies. Other investors include Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation, NGP and the University of Michigan.

“Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell. “To fully realize the opportunities available through artificial intelligence, we must bring clean, safe, and reliable electrons onto the grid with proven technologies that can scale and grow with demand.”

Last spring, AWS invested in a nuclear energy project with Talen Energy, signing an agreement to purchase nuclear power from the company’s existing Susquehanna Steam Electric Station, a nuclear power station in Salem Township, Pennsylvania. AWS also purchased the adjacent, nuclear-powered data center campus from Talen for $650 million.

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>>> Google Backs New Nuclear Plants to Power AI


The Wall Street Journal

by Jennifer Hiller

10-14-24


https://www.msn.com/en-us/money/companies/google-backs-new-nuclear-plants-to-power-ai/ar-AA1sfOlz?cvid=d475ee962a8f4168cf2627820480974e&ei=44


Google will back the construction of seven small nuclear-power reactors in the U.S., a first-of-its-kind deal that aims to help feed the tech company’s growing appetite for electricity to power AI and jump-start a U.S. nuclear revival.

Under the deal’s terms, Google committed to buying power generated by seven reactors to be built by nuclear-energy startup Kairos Power. The agreement targets adding 500 megawatts of nuclear power starting at the end of the decade, the companies said Monday.

The arrangement is the first that would underpin the commercial construction in the U.S. of small modular nuclear reactors. Many say the technology is the future of the domestic nuclear-power industry, potentially enabling faster and less costly construction by building smaller reactors instead of behemoth bespoke plants.

“The end goal here is 24/7, carbon-free energy,” said Michael Terrell, senior director for energy and climate at Alphabet’s Google. “We feel like in order to meet goals around round-the-clock clean energy, you’re going to need to have technologies that complement wind and solar and lithium-ion storage.”

The context

The nuclear-power industry’s fortunes are increasingly getting hitched to Big Tech. Power demand is rising in parts of the U.S. for the first time in years, much of it driven by the need to build more data centers for AI. That has sent the tech industry on the hunt for massive amounts of energy.

Last month, Constellation Energy and Microsoft struck a deal to restart the undamaged reactor at Pennsylvania’s Three Mile Island, the site of the country’s worst nuclear-power accident. Earlier this year, Amazon purchased a data center at another Pennsylvania nuclear plant.

The 500 megawatts of generation that would be built by Kairos for Google is about enough to power a midsize city—or one AI data-center campus.

The agreement answers questions that have bedeviled smaller-reactor designs: What customer would pay the higher price for a first-of-a-kind project? And who would order enough to get an assembly line started? The concept, which remains to be proven, is that building the same thing over and over in a factory would drive down costs.

The details

Kairos plans to deliver the reactors between around 2030 and 2035. Financial terms weren’t disclosed, but the companies entered into a power-purchase agreement, similar to those used between corporate buyers and wind- and solar-energy developers.

The project site—or whether there could be reactors at multiple locations—hasn’t been determined, the companies said.

Google would have data centers somewhere in the region near the Kairos reactors, but it hasn’t been determined whether they would receive power directly from the nuclear plants or from the grid. Google could count the addition of nuclear power toward meeting its carbon-reduction commitments.

Instead of water, which is used in traditional reactors, the Kairos design uses molten fluoride salt as a coolant. The units for Google will include a single 50-megawatt reactor, with three subsequent power plants that would each have two 75-megawatt reactors, Kairos said. That compares with about 1,000 megawatts at reactors at conventional nuclear-power plants.

Kairos will have to navigate complex approvals through the U.S. Nuclear Regulatory Commission, but already has clearance to build a demonstration reactor in Tennessee, which could start operating in 2027.

Kairos has a manufacturing development facility in Albuquerque, N.M., where it is building test units. They don’t have nuclear-fuel components but are something of a practice run at building and operating full-size plants to test systems, components and the supply chain.

Mike Laufer, chief executive and co-founder at Kairos, said the demonstration project and the Albuquerque plant are helping the company avoid spiraling costs, a pitfall of the conventional nuclear industry.

The big picture

Nearly 20% of U.S. power comes from nuclear plants, but the pipeline of big, new projects has been halted because of high costs and long time lines.

The second of two new reactors at Georgia’s Vogtle nuclear plant was completed this spring. Before that, the most recent nuclear-power reactors in the U.S. were completed in 2016 and 1996 by the Tennessee Valley Authority.

Tech companies such as Google started signing power-purchase agreements with renewables developers in 2010, which helped drive down costs of those technologies. Nuclear-power advocates say a stable customer could drive down costs over time in that industry, too.

In the near term, analysts expect more natural-gas-fired power plants to be added to fuel the country’s appetite for data centers, new manufacturing, heavy industry and transportation.

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>>> Why Cameco Stock Popped 18% in September and Could Soar Higher


by Neha Chamaria

Motley Fool

October 8, 2024


https://finance.yahoo.com/news/why-cameco-stock-popped-18-194147393.html


Shares of Canada-based uranium miner Cameco (NYSE: CCJ) are sizzling. The uranium stock surged 17.5% in September, according to data provided by S&P Global Market Intelligence, and continues to rally. It's up a solid 37% in one month, as of this writing.

The focus is back on the uranium industry, and Cameco just announced plans to expand capacity. That could mean even bigger days ahead for the stock.

Uranium stocks are a bet on nuclear energy

Cameco is one of the world's leading producers of uranium, a key nuclear fuel used to power nuclear power plants. That largely explains why the stock has surged in recent weeks after some interesting developments in the nuclear energy industry.

To name a few, 14 global banks and financial institutions pledged support for nuclear energy at an event in September. That should ideally mean easier funding for the industry, which is crucial for developing capital-intensive nuclear reactors.

In another major development, utility giant Constellation Energy is planning to restart a nuclear power plant shuttered since 1979 at Three Mile Island, Pennsylvania, after signing a 20-year power purchase contract with tech giant Microsoft in September. Oracle CEO Larry Ellison also announced plans last month to use nuclear power for its artificial intelligence (AI) data centers.

Meanwhile, Russian President Vladimir Putin announced plans to limit exports of commodities like uranium and nickel last month in retaliation for sanctions imposed on it by the U.S. If Russia makes a move, the global uranium supply will take a hit, and the prospect is already sending uranium prices higher. Uranium prices have fallen sharply this year on fears of a demand-supply imbalance, but are hovering at their highest in over a month right now in anticipation of a Russian export ban, according to data from Trading Economics.

All these factors combined sent Cameco stock soaring in recent weeks, but the rally may have just started.

Why you should buy and hold Cameco stock

In an interview with Bloomberg television on Oct. 8, Cameco CEO Tim Gitzel called it the "best fundamentals" he's ever seen for nuclear, and revealed plans to expand capacity on rising demand for nuclear power. This is, perhaps, the biggest confirmation of the uranium industry's turnaround. Cameco is the best uranium stock to play the boom, and you'll want to keep an eye on this stock, especially with its third-quarter numbers slated for a Nov. 7 release.

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>>> US looks to resurrect more nuclear reactors, White House adviser says


Reuters

October 7, 2024

By Valerie Volcovici


https://finance.yahoo.com/news/us-looks-resurrect-more-nuclear-191457261.html


NEW YORK (Reuters) - The Biden administration is working on plans to bring additional decommissioned nuclear power reactors back online to help meet soaring demand for emissions-free electricity, White House climate adviser Ali Zaidi said on Monday.

Two such projects are already underway, including the planned recommissioning of Holtec's Palisades nuclear plant in Michigan and the potential restart of a unit at Constellation Energy's Three Mile Island plant in Pennsylvania, near the site of the worst nuclear accident in U.S. history.

Asked if additional shuttered plants could be restarted, Zaidi said: "We're working on it in a very concrete way. There are two that I can think of."

He declined to identify the power plants or provide further details about the effort.

Speaking at the Reuters Sustainability conference in New York, Zaidi said repowering existing dormant nuclear plants was part of a three-pronged strategy of President Joe Biden's administration to bring more nuclear power online to fight climate change and boost production.

The other two prongs include development of small modular reactors (SMRs) for certain applications, and continuing development of next generation, advanced nuclear reactors.

Biden has called for a tripling of U.S. nuclear power capacity to fuel energy demand that is accelerating in part due to expansion of power hungry technologies like artificial intelligence and cloud computing.

Last week, the Biden administration said it closed a $1.52 billion loan to resurrect the Palisades nuclear plant in Michigan, which would take two years to re-open.

Constellation and Microsoft, meanwhile, signed a power deal last month to help resurrect a unit of the Pennsylvania plant, which Constellation hopes will also receive government support.

Zaidi told the conference that the U.S. Navy on Monday had requested information to build SMRs on a half dozen bases. "SMR is a technology that is not a decades-away play. It's one that companies in the United States are looking to deploy in this decade," he said.

Zaidi also addressed the woes that have beset a separate Biden clean energy goal, to bring 30 gigawatts of offshore wind capacity online by the end of the decade.

The administration shelved offshore wind lease sales this year in both Oregon and the Gulf of Mexico due to low demand from companies, as high costs, equipment issues and supply chain challenges hit other projects.

Zaidi said at least half of the 30GW goal is already under construction and that some of the early snags provide helpful learning for future projects.

"I am pretty optimistic about the next of wave of projects where we will have a domestic supply chain and hopefully better cost to capital relative to what projects are facing right now," he said.

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>>> First-ever compact nuclear reactor runs for 8 years without water


Brighterside News

by Joseph Shavit


https://www.msn.com/en-us/money/other/first-ever-compact-nuclear-reactor-runs-for-8-years-without-water/ar-AA1rC21T?cvid=91bb3ea6de3c4228b0388152d3d42bcf&ei=64


In a groundbreaking development poised to reshape the energy landscape of Saskatchewan, Canada, a compact nuclear reactor with the capacity to operate for eight years without water is set to come online by 2029.

Announced by the Saskatchewan government, the $80 million CAD project, led by the Saskatchewan Research Council in collaboration with Westinghouse, aims to demonstrate the capabilities of this innovative microreactor, known as eVinci.

Premier Scott Moe expressed optimism about the project's transformative potential, emphasizing its unique ability to cater to Saskatchewan's energy needs while also heralding a greener future. "Microreactors provide a custom solution for Saskatchewan’s unique energy needs," said Premier Moe.

Westinghouse, the company behind the eVinci, asserts that this technology will not only revolutionize energy production but also significantly reduce air pollution. According to Westinghouse, each eVinci unit will contribute to a yearly reduction of up to 55,000 tons of air pollution.

One of the key features of the eVinci microreactor is its impressive versatility. It will have the capability to generate five megawatts of electricity, produce over 13 megawatts of high-temperature heat, or operate in combined heat and power mode, according to the Saskatchewan Research Council.

To put this in perspective, the Nuclear Regulatory Commission reported in 2012 that a single megawatt of capacity from a conventional power plant can meet the energy needs of 400 to 900 homes in a year.

Westinghouse views the eVinci microreactor as a groundbreaking technology that holds great promise for future energy requirements.

Microreactors are notable for their portability and potential to provide power to remote and underserved locations. The U.S. Department of Energy confirms that various types of microreactors are currently in development across the United States.

In terms of physical installation, the eVinci microreactor will be above ground and occupy a relatively small footprint. Remarkably, the supporting infrastructure for the unit can fit inside a standard hockey rink. This compact design allows for easy integration into existing power grids and facilitates pairing with renewable energy sources.

One of the most noteworthy aspects of the eVinci microreactor is its innovative "heat pipe technology," which eliminates the need for water to cool down the system. Unlike traditional nuclear reactors, which rely on vast quantities of water for cooling, the eVinci's cooling system is water-independent.

Moreover, after approximately eight years of service, the eVinci unit can be removed for disposal, making way for a replacement unit, all according to Westinghouse. The simplicity of this design, often likened to that of a battery, enhances its appeal as a sustainable and efficient energy source.

In the United States, there are currently 54 commercial nuclear power plants, as reported by the Energy Information Administration, and Canada boasts six nuclear power stations, according to the Canadian government.

Despite their impressive energy output, traditional nuclear power plants generate substantial amounts of nuclear waste—approximately 2,205 tons per year in the U.S., which is less than half the volume of an Olympic swimming pool.

However, the waste generated by these plants consists of ceramic pellets, eliminating the risk of hazardous radioactive materials. Researchers are continually exploring innovative methods, such as utilizing bacteria, to manage and reduce this waste more effectively.

Westinghouse's approach with the eVinci microreactor is markedly different. The company plans to take responsibility for the used fuel, either returning it to their facilities or securely storing it deep underground for long-term safekeeping.

This design not only mitigates the risks associated with high pressure and coolant loss but also allows for the extraction of valuable heat for industrial applications.

The initial eVinci unit is being hailed as a proof-of-concept, paving the way for future installations. Saskatchewan Research Council CEO Mike Crabtree affirmed the significance of this pioneering project, emphasizing its role in preparing the council to assist communities and industries in future endeavors.

"What we learn through this project will prepare [the council] to assist communities and industries in future projects," stated Crabtree in the official press release.

"Westinghouse is proud to be working with the team at SRC on this vital project, and for the support from Premier Moe and the Government of Saskatchewan," Westinghouse President and CEO Patrick Fragman said. "The eVinci™ battery technology is the perfect fit for Saskatchewan since it is fully transportable. It also provides carbon-free electricity and heat, uses no water, and can be completely removed from site after operating continuously for eight years or more."

SRC is Canada's second largest research and technology organization. With nearly 350 employees, $232 million in annual revenue and 76 years of experience, SRC provides services and products to its 1,600 clients in 22 countries around the world. SRC safely operated a SLOWPOKE-2 nuclear research reactor for 38 years before decommissioning it in 2021.

With its compact design, water-independent cooling system, and potential to harness industrial heat, the eVinci microreactor showcases the possibilities of modern nuclear technology. As the first of its kind, it serves as a harbinger of a cleaner, more sustainable energy future for Saskatchewan and beyond.

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>>> Michigan nuclear plant finalizes federal loan to support first reactor restart in U.S. history


by Spencer Kimball

CNBC

9-30-24


https://www.msn.com/en-us/money/companies/michigan-nuclear-plant-finalizes-federal-loan-to-support-first-reactor-restart-in-us-history/ar-AA1rtQJP?ocid=BingNewsSerp


The Palisades nuclear plant in Michigan has closed a $1.5 billion loan to support the first reactor restart in U.S. history, the Department of Energy announced Monday.

Palisades’ owner, Holtec International, hopes to restart the plant in the fourth quarter of 2025, subject to approval by the U.S. Nuclear Regulatory Commission. Holtec is a privately held nuclear technology company headquartered in Jupiter, Florida.

“All necessary funding has now been secured,” said Nick Culp, a Holtec spokesperson. The company will use the funds for inspections, testing, restoration, rebuilding, and replacement of equipment at the plant, according to the Department of Energy.

Holtec has completed all major licensing submittals to the NRC, Culp said. Company executives expect to receive a response from the NRC sometime in 2025, he said.

The restart of the reactor at Palisades would mark a milestone for the nuclear industry after a decadelong wave of reactor shutdowns in the U.S. Palisades ceased operations in 2022 after a period in which nuclear efforts struggled to compete with cheap and abundant natural gas.

Demand for nuclear power is growing as the U.S. seeks carbon-free energy to meet rising electricity demand while meeting its climate goals. The planned restart at Palisades blazed a path for Constellation Energy’s recent decision to bring Three Mile Island back online by 2028.

“We’ve been using all of the tools in our tool belt to support the nuclear energy sector, keep reactors online, and to bring them back, and to finance advanced reactor deployment as well,” David Turk, deputy secretary at the Department of Energy, told reporters on a call ahead of the announcement.

Electricity demand is expected to increase about 15% over the next few years as artificial intelligence drives the need for data centers and domestic manufacturing continues expanding, Turk said.

Microsoft has agreed to purchase power from Three Mile Island to help power its data centers. In the case of Palisades, the power is spoken for by Wolverine Power Cooperative, a nonprofit that provides electricity to rural communities in Michigan.

Palisades will support 600 jobs in Covert Township, near Lake Michigan, and provide enough power for 800,000 homes, Turk said.

Holtec plans to nearly double the capacity of Palisades in the 2030s by building new designs called small modular reactors at the site. These smaller reactors, which are prefabricated in several pieces, promise to speed deployment of nuclear power by reducing costs and making plants simpler to operate.

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[gfp927z]

Bigworld, With nuclear, the 'powers that be' have been against it for decades. There is the proliferation problem, which is a legitimate concern, and also waste disposal problems, etc. Also, ruling oligarchies are historically against cheap power for the masses, since it leads to a large rising middle class, which they view as a threat. But our rivals Russia and China are now providing nuclear powerplants to emerging countries, which is a huge draw for these countries to leave the US orbit and join BRICS. That, plus the need for mega gobs of electricity to run AI and data centers is pushing the US into nuclear.

So despite the proliferation risks, the US is being forced back into nuclear. Rickards said that a key part of the new Petrodollar deal (still unannounced) is for the US to allow the Saudis to not only have nuclear powerplants, but also nuclear enrichment. That was part of the 'carrot' side of the deal to keep Saudi Arabia from joining BRICS. But we'll see if the nuclear enrichment part ever actually happens. Once Iran's nuclear program is destroyed ('US bombs Iran' scenario), the Saudi's rationale for having nuclear enrichment isn't there.

The biggest problem with allowing nuclear proliferation is the extreme vulnerability we now have to a nuclear EMP attack. A single nuke detonated in low orbit over Kansas can destroy the majority of the US power grid, micro-electronics, etc (video below). So one nuke can instantly send us back to the Stone Age. There is really no solution to this extreme vulnerability, and it wouldn't have to be a country doing it, a small terrorist group could easily do it with a single nuclear device put in orbit with an old Scud missile, or even a high altitude weather balloon. So 'yikes' is an understatement. Humanity has painted itself into a fatal corner by our total reliance on electricity and microelectronics -

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[bigworld]

gfp: Instead of wasting Billion on maintaining a military presence in 180 countries and funding the proxy was against Russia maybe, just maybe, we ought to start a nuclear building program and insure we have enough energy going forward. It's ludicrous to want to convert everything to electric when the current generation capacity and grid can't meet the need. And with the addition of all these data centers sucking up even more electricity we need lots of nukes in a relatively short period of time. But the people that run our government are far too stupid. They'd rather spend Billions importing the 3rd world and destroying the country.

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>>> Microsoft goes nuclear to power AI data centers


Yahoo Finance

by Julie Hyman and Josh Lipton

September 20, 2024


https://finance.yahoo.com/video/microsoft-goes-nuclear-power-ai-204151380.html


Nuclear energy has been a hot topic in investors' minds after Microsoft (MSFT) and Constellation Energy (CEG) announced an agreement to restore a dormant nuclear power plant to power the tech company’s AI and cloud data centers.

Microsoft wants to restore the Three Mile Island nuclear power plant in Londonderry Township, Pennsylvania, known for one of the largest nuclear disasters in the US when one of the plant's two reactors melted down in 1979.

Radiant Energy Group founder and managing director Mark Nelson joins Josh Lipton and Julie Hyman to explain how nuclear energy could power the artificial intelligence era.

A nuclear engineer himself, Nelson explains that the plant’s other reactor “kept going for 40 years. The only reason it closed in 2019 is because fossil fuels were really cheap.”

He says there’s a renewed interest in nuclear energy today because “we're running out of other energy sources… we're running out of power, and we're realizing that if we're going to have everybody buy electric vehicles, we have to be able to charge it from power plants that run all the time.”

Nuclear power plants could help meet the energy-intensive needs of training and running AI, which has brought the utilities sector into focus. Nelson says building new nuclear plants and restoring existing ones could help.

“The very best American design for a nuclear plant is being built in China over and over again for about four years or so per reactor and about $3 billion. I don't think we're going to meet China's prices for building our reactors, but we could probably do a lot better building our reactors if we do it in series with the same design, the same plant layout, and we do it over and over," the expert tells Yahoo Finance.

“Fortunately, we've got designs that are licensed and ready to go today at existing nuclear plants that already serve tens of millions of customers. And those are the plants that are being approached by the data centers. So I think to get over this hump, we have to accept that we've got outstanding equipment ready to install. We've just forgotten how to do it and we need to do it the same way every time.”

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[bigworld]

gfp: It's about time. Developing clean energy alternatives other than the boondoggles of wind and solar is of upmost importance. Instead of operating hundreds and hundreds of military bases around the globe and fighting a proxy war with Russia we could be pouring $$$ Billions into growing our nuclear generating capacity. If we want electric cars and data centers we have to gain access to a lot more electricity.

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>>> Is BWX Technologies, Inc. (BWXT) an Under-the-Radar Nuclear Energy Stock?

https://finance.yahoo.com/news/3-nuclear-energy-stocks-buy-110000268.html

BWX Technologies (BWXT) is a top supplier of nuclear technologies, components, and fuel to the U.S. government, including U.S. naval submarines and aircraft carriers. BWX Technologies is actively growing its commercial nuclear power segment and other non-defense units.

BWXT owns one of the largest commercial nuclear equipment manufacturing facilities on the planet. BWXT is expanding that operation to “support ongoing and anticipated customers’ investments in Small Modular Reactors, traditional large-scale nuclear and advanced reactors, in Canada and around the world.”

BWX Technologies has landed deals and partnerships with GE Vernova, the Wyoming Energy Authority, Bill Gates-backed SMR company TerraPower, and beyond. BWXT’s beat-and-raise second quarter was supported, in part, by a growing “appetite for nuclear solutions across the global security, clean energy, and medical markets.”

BWXT is projected to post solid mid-single-digit sales and earnings growth in 2024 and 2025.

BWX Technologies stock has climbed 250% in the last 10 years to outpace the S&P 500’s 190% and its industry’s 110%. BWXT broke out to new highs last summer, with the stock up 38% the last 12 months.

BWXT is trading above its 21-week and 21-day moving averages while sitting 5% below its average Zacks price target.

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>>> 3 Nuclear Energy Stocks to Buy and Hold Forever


Zacks

by Benjamin Rains

Aug 23, 2024


https://finance.yahoo.com/news/3-nuclear-energy-stocks-buy-110000268.html


Today’s episode of Full Court Finance at Zacks explores nuclear energy’s rapid rise and why nuclear energy is poised to become one of the most important industries in the economy and on Wall Street.

The episode dives into three nuclear energy-focused stocks—Rolls-Royce (RYCEY), BWX Technologies, Inc. (BWXT), and Constellation Energy (CEG)—that investors might want to buy now and hold for long-term upside.

Nuclear energy has become one of the hottest industries on Wall Street over the last year as investors realize its ability to power the growing global economy as the world attempts to curb fossil fuel use. On top of that, the energy-hungry artificial intelligence arms race sparked technology giants such as Amazon, Microsoft, and many others to commit to nuclear energy expansion and innovation.

Two of the top six performing S&P 500 stocks so far this year are nuclear energy companies. The buildout of the nuclear-powered economy will cost tens of trillions of dollars and take decades, even though nuclear energy has supplied around 20% of U.S. electricity for over 30 years running (and 10% of the current global total).

The U.S. and many other nations have done a 180-degree turn on nuclear energy technology over the last few years as key players across technology, finance, the government, and beyond finally throw their collective force behind nuclear energy. The U.S. government has rolled out multiple efforts to support the nuclear energy resurgence and pledged to help triple global nuclear energy capacity by 2050.

Outside of the U.S., China, India, and tons of other key economies are going all in on nuclear. Investors are pouring money into the largest nuclear power producers, uranium (nuclear fuel) miners, and other standout players.

Now let’s look at our three nuclear energy stocks to consider buying now.

Rolls-Royce (RYCEY) is a historic engine maker of complex power and propulsion solutions for aircraft, ships, and beyond. Rolls-Royce is utilizing its expertise in nuclear propulsion systems to design cutting-edge small modular nuclear reactor (SMR) technology and micro-reactors. Rolls-Royce’s SMR tech is making its way through the approval process to be rolled out in the U.K.

Rolls-Royce will be able to achieve these lofty nuclear energy goals because it is successfully revamping and streamlining its business to boost profitability after a disappointing decade.

Former oil industry executive Tufan Erginbilgic took over as CEO in January 2023, aiming to quadruple Rolls-Royce’s profits in the next five years and complete other key initiatives. Rolls-Royce raised its full-year guidance on August 1 and said it plans to reinstate its dividend.

Rolls-Royce is projected to grow its adjusted earnings by 35% in FY24 and 19% in FY25 on the back of 30% and 7%, respective revenue expansion.

Rolls-Royce’s recent upbeat EPS revisions help it earn a Zacks Rank #2 (Buy) and extend its impressive run of positive EPS revisions over the past year and a half.

Rolls-Royce stock soared over 750% off its 2022 lows, including its 155% YTD surge. Rolls-Royce stock hit new 52-week highs of $6.50 a share on Thursday. Despite the climb, Rolls-Royce trades 34% below its average Zack price target and 70% below its all-time highs.

On the valuation front, Rolls-Royce trades in line with its 10-year median and near its industry at 24.9X forward 12-month earnings.

BWX Technologies (BWXT) is a top supplier of nuclear technologies, components, and fuel to the U.S. government, including U.S. naval submarines and aircraft carriers. BWX Technologies is actively growing its commercial nuclear power segment and other non-defense units.

BWXT owns one of the largest commercial nuclear equipment manufacturing facilities on the planet. BWXT is expanding that operation to “support ongoing and anticipated customers’ investments in Small Modular Reactors, traditional large-scale nuclear and advanced reactors, in Canada and around the world.”

BWX Technologies has landed deals and partnerships with GE Vernova, the Wyoming Energy Authority, Bill Gates-backed SMR company TerraPower, and beyond. BWXT’s beat-and-raise second quarter was supported, in part, by a growing “appetite for nuclear solutions across the global security, clean energy, and medical markets.”

BWXT is projected to post solid mid-single-digit sales and earnings growth in 2024 and 2025.

BWX Technologies stock has climbed 250% in the last 10 years to outpace the S&P 500’s 190% and its industry’s 110%. BWXT broke out to new highs last summer, with the stock up 38% the last 12 months.

BWXT is trading above its 21-week and 21-day moving averages while sitting 5% below its average Zacks price target.

Constellation Energy (CEG) is the largest nuclear power plant operator in the U.S., helping it produce 10% of the country’s total clean energy. Constellation boasts over 20 nuclear reactors at roughly a dozen sites across the Midwest, the Mid-Atlantic, and the Northeast.

Constellation benefits from the nuclear energy-focused aspects of the Inflation Reduction Act. The U.S. government is helping provide a price floor for nuclear power to boost the expansion of the domestic nuclear industry.

Constellation is retrofitting its current nuclear power plants to help keep them running for a lot longer. The company is also expanding into next-gen nuclear power plant technologies.

Constellation aims to grow through mergers and acquisitions and return capital to shareholders via buybacks and dividends. Constellation announced in early 2024 its plans to boost its dividend by 25% in 2024, exceeding its 10% annual growth target.

Constellation lifted its adjusted 2024 earnings guidance in early August and reaffirmed its ability to grow its adjusted EPS by at least 10% from 2024-2028. Constellation is projected to grow its adjusted earnings by 57% in 2024 and 18% in 2025.

Constellation shares soared since their 2022 IPO. CEG has climbed by 150% in the past two years and 70% YTD. Thankfully, for investors who ‘missed’ the run, Constellation trades 15% below its May records after falling alongside tech and other growth stocks.

CEG is attempting to retake its 50-day moving average. On top of that, CEG's improving EPS outlook, mixed with its recent downturn, has it trading at a 32% discount to Constellation's highs at 21.8X forward earnings.

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>>> 4 Hidden Stocks to Play the AI Data-Center Megatrend


Barron's

By Tae Kim

Aug 20, 2024


https://www.barrons.com/articles/ai-data-center-stocks-constellation-energy-teradyne-b1289ad0?siteid=yhoof2


In this article

WCC
CCOI
TER
CEG

The rise of artificial intelligence is sparking the construction of new data centers, which is providing significant opportunities for investors.

KeyBanc Capital Markets’ research team on Monday shared its top ideas about what companies will benefit from the AI infrastructure trend. The stocks include Wesco International (WCC), Cogent Communications Holdings (CCOI), Teradyne (TER), and Constellation Energy (CEG). All four stocks have Overweight ratings.

“For our names exposed to data center hardware/infrastructure, C2Q24 earnings season largely continued to showcase robust demand trends around the theme,” the team wrote.

Wesco stands to gain because investment spending on data centers should add to demand for logistics services among the company’s cloud-computing and enterprise customers, according to industrial tech analyst Ken Newman. He has a target of $195 for the stock price, while shares were down 0.9% to $157.46 on Tuesday afternoon.

Communications services analyst Brandon Nispel is optimistic about Cogent’s data-center connectivity solutions, including its optical wavelength services, which provide data transportation across long distances. He has a $80 price forecast for the shares; the stock was up 0.5% to $76.11.

Semiconductor capital-equipment analyst Steve Barger said Teradyne’s testing services will thrive as demand for AI chips grows. And electric utilities analyst Sophie Karp is bullish on Constellation Energy because of rising electricity demand from data centers. Barger has a $180 target for Teradyne and Karp has a $230 price forecast for Constellation.

Teradyne stock dropped 1.5% to $132.01. Constellation stock was down 1.1% to $190.58.

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>>> U.S. Senate passes bill to support advanced nuclear energy deployment


Reuters

6-19-24


https://www.msn.com/en-us/news/politics/us-senate-passes-bill-to-support-advanced-nuclear-energy-deployment/ar-BB1owEkm?ocid=BingNewsSerp


(Reuters) - The U.S. Senate on Tuesday passed a bill to accelerate the deployment of nuclear energy capacity, including by speeding permitting and creating new incentives for advanced nuclear reactor technologies.

Expanding nuclear power has broad bipartisan support, with Democrats seeing it as critical to decarbonizing the power sector to fight climate change and Republicans viewing it as a way to ensure reliable electricity supply and create jobs.

A version of the bill had already passed in the House of Representatives and it will now go to President Joe Biden for a signature to become law. It passed the Senate 88-2 votes.

“In a major victory for our climate and American energy security, the U.S. Senate has passed the ADVANCE Act with overwhelming, bipartisan support,” said Senator Tom Carper, a Democrat, who is Chairman of the Senate Environment and Public Works Committee.

“Today, we sent the ADVANCE Act to the president’s desk because Congress worked together to recognize the importance of nuclear energy to America’s future and got the job done,” said Republican Shelley Moore Capito, a ranking member of the committee.

This country's had a bit of an allergy toward nuclear

Among other things, the bill would cut regulatory costs for companies seeking to license advanced nuclear reactor technologies, would create a prize for the successful deployment of next-generation reactors, and would speed licensing for nuclear facilities at certain sites.

The bill could benefit companies like Bill Gates-backed TerraPower, which is trying to build a $4 billion Natrium reactor in Wyoming on the site of an old coal plant but is struggling to secure a key permit.

Non-proliferation groups including the Union of Concerned Scientists have warned against measures that ease licensing for high-tech nuclear reactors, including those using advanced fuels like high-assay low-enriched uranium (HALEU), arguing that safety should remain the priority.

The U.S. nuclear industry has struggled to expand in recent decades due to soaring costs and complex permitting requirements, and as advanced nuclear technologies prove difficult to fund and develop.

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Constellation Energy - >>> Forget Nvidia: Jim Cramer Says This Company Could Be About to Cash In on Artificial Intelligence (AI) Data Centers


by Adam Spatacco

Motley Fool

May 20, 2024


https://finance.yahoo.com/news/forget-nvidia-jim-cramer-says-122100994.html


One of the biggest investment areas among artificial intelligence (AI) opportunities is data centers. Applications in generative AI are fueling a new wave of demand for cloud storage, server racks, network infrastructure, and more.

While Nvidia is a major provider of data center services, other players are emerging with formidable solutions. Moreover, even big tech giants, such as Amazon, are investing significant sums into building their own data centers. Savvy investors understand that there are a host of opportunities making inroads in the growing data center realm -- a market expected to reach nearly $440 billion by 2028, according to Statista.

Stock analyst and media personality Jim Cramer recently named Constellation Energy (NASDAQ: CEG) as a top pick for data center services. While this may seem a bit out of the ordinary, Constellation Energy is currently discussing some interesting partnerships and could very well emerge as a big winner of the AI data center boom.

Below is an exploration of how the company could play a major role in the data center arena and whether now is a good time to scoop up some shares.

Data centers use a lot of energy

Data centers act as storage units for IT architecture and network infrastructure. These buildings house larger server racks that are filled with hardware such as graphics processing units (GPUs), which are used for accelerated computing.

While data centers play an integral role in the AI ecosystem, there's one big drawback: Data centers use a lot of electricity.

According to the Department of Energy, data centers use anywhere between 10 to 50 times more energy than a standard commercial office. This translates into roughly 2% of the total electricity consumption in the U.S.

Research from Goldman Sachs suggests that data center power demand will increase at a 15% compound annual growth rate (CAGR) through 2030 -- at which point it would reach approximately 8% of total power demand in the U.S. by 2030.

Constellation Energy offers a unique solution

Considering that the secular tailwinds fueling AI are directly correlated to rising energy consumption -- electricity, in particular -- data centers are in need of an alternative solution sooner rather than later. Constellation Energy might just have the answer.

The company operates across many aspects of the energy industry including solar, wind, and natural gas. But another solution Constellation Energy brings to the table is nuclear power. And the best part? Big tech is interested.

During Constellation Energy's most recent earnings call, management alluded that the company is in discussions with "Magnificent Seven" members Microsoft and Alphabet about potentially partnering on nuclear-powered data centers.

Furthermore, Goldman affirmed rising interest in nuclear power, calling it "an attractive generation source for data centers given it is zero carbon and reliable."

Is Constellation Energy stock a buy right now?

As of the time of this writing, Constellation Energy was trading at a price-to-earnings (P/E) ratio of 28.4 -- well above the S&P 500's P/E of 24.8.

Furthermore, after benchmarking Constellation Energy against other regulated utilities, the company appears to be trading at a premium relative to some of its competitors.

While Constellation Energy might be pricey compared to other utilities, I see the company as an under-the-radar opportunity among AI investments. Although there will be obvious investment choices among big tech and peripheral competitors in IT infrastructure, energy stocks shouldn't be forgotten when it comes to AI.

For this reason, Constellation Energy might be seen as a better value compared to many technology stocks which have seen valuation multiples expand dramatically over the last year as AI tailwinds have fueled buying activity.

Considering nuclear power is garnering the interest of the biggest AI enterprises, I wouldn't overlook the energy sector, in general.

Given Constellation Energy's relationship with big tech and its capabilities at the intersection of data center services and nuclear power, I see the stock as an attractive buying opportunity for long-term investors.

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>>> Uranium ETF (URA) Hits New 52-Week High


Zacks

by Sanghamitra Saha

December 19, 2023


https://finance.yahoo.com/news/uranium-etf-ura-hits-52-120000233.html


For investors seeking momentum, Global X Uranium ETF URA is probably on radar. The fund just hit a 52-week high and is up 65.4% from its 52-week low price of $18.31/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

URA in Focus

The underlying Solactive Global Uranium & Nuclear Components Total Return Index seeks to track the price movements in shares of companies which are active in the uranium industry. The fund has allocations to the energy and industrial sectors, with share of 61.8% and 18.6%, respectively. The product charges 69 bps in annual fees (See: all Materials ETFs here).

Why the Move?

The upbeat outlook in the sector results from growing interest in nuclear energy, which has led several developed nations to invest in new infrastructure projects while extending the operational life of their existing nuclear power stations. The ongoing energy issues and the requirement for dependable, environmentally friendly energy sources are helping in the sector’s upsurge.

The latest COP-28 powered the ETF. At COP28, delegates from around 200 countries reached an agreement to initiate the reduction of global fossil fuel consumption, signifying a critical step in reducing the worst effects of climate change and the ultimate departure from the era of oil dependence.

Driven by robust market demand and bright prospects, according to carbon credits, the uranium spot price hit its 15-year peak, reaching $85 per pound, supporting analyst estimates for a future market rally in the metal’s price.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 56.50, which gives cues of a further rally.

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Ukraine attacks nuclear power plant -

(mad bomber Zelensky strikes again)


>>> What are the risks at Zaporizhzhia nuclear power plant after drone attack?


Reuters

By Guy Faulconbridge and Francois Murphy

April 8, 2024


https://www.reuters.com/world/europe/nuclear-power-plant-eye-ukraine-war-2024-04-08/


MOSCOW/VIENNA, April 8 (Reuters) - Russia said Ukraine struck the Zaporizhzhia nuclear power station controlled by Russian forces three times on Sunday and demanded the West respond, though Kyiv said it had nothing to do with the attacks.

The International Atomic Energy Agency (IAEA) has long warned of the risks of a disaster at Zaporizhzhia, Europe's largest nuclear plant, and urged an end to fighting in the area. The plant is just 500 km (300 miles) from the site of the world's worst nuclear accident, the 1986 Chornobyl disaster.

What nuclear material is at the Zaporizhzhia plant, what are the risks and why are Russia and Ukraine fighting over it?

WHAT IS IT AND WHAT WAS ITS CAPACITY?

The Zaporizhzhia nuclear power plant has six Soviet-designed VVER-1000 V-320 water-cooled and water-moderated reactors containing Uranium 235. They were all built in the 1980s, though the sixth only came online in the mid-1990s after the collapse of the Soviet Union. All but one of the reactors are in cold shutdown. Reactor unit 4 is in "hot shutdown", mainly for heating purposes. IAEA Director General Rafael Grossi says that fighting a war around a nuclear plant has put nuclear safety and security in "constant jeopardy".

WHAT HAPPENED ON APRIL 7?

Russia's state nuclear corporation, Rosatom, said Ukraine attacked the plant three times on Sunday with drones, first injuring three near a canteen, then attacking a cargo area and then the dome above reactor No. 6.

IAEA experts at the site went to the three locations of the attacks and confirmed there had been an attack. "Russian troops engaged what appeared to be an approaching drone," the IAEA said. "This was followed by an explosion near the reactor building."

"While the team so far has not observed any structural damage to systems, structures, and components important to nuclear safety or security of the plant, they reported observing minor superficial scorching to the top of the reactor dome roof of Unit 6 and scoring of a concrete slab supporting the primary make-up water storage tanks," the IAEA said.

The IAEA did not say directly who was to blame for the attacks. A Ukrainian intelligence official said Kyiv had nothing to do with any strikes on the station and suggested they were the work of Russians themselves. (lol)

WHAT ARE THE RISKS?

Russian forces took control of the plant in early March 2022, weeks after invading Ukraine. Special Russian military units guard the facility and a unit of Russia's state nuclear company, Rosatom, runs the plant. Nuclear reactors' containment structures like Zaporizhzhia's are made of steel-lined reinforced concrete designed to withstand the impact of a small plane crash so there is little immediate risk from a minor attack on those structures. A 1989 study by the U.S. Department of Energy found that the model of containment structure used in Zaporizhzia "exhibits vulnerabilities to the effects of an aircraft crash" and a fighter jet crashing downwards into the dome, where the structure is thinner, could penetrate it, causing concrete chunks and aircraft engine parts to fall inside.

External power lines essential to cooling nuclear fuel in the reactors are a softer potential target. Cooling fuel even in reactors in cold shutdown is necessary to prevent a nuclear meltdown. Since the war began the plant has lost all external power eight times, most recently in December last year, forcing it to rely on emergency diesel generators for power. Water is also needed to cool fuel. Pressurised water is used to transfer heat away from the reactors even when they are shut down, and pumped water is also used to cool down removed spent nuclear fuel from the reactors. Without enough water, or power to pump the water, the fuel could melt down and the zirconium cladding could release hydrogen, which can explode.

WHAT ABOUT THE SPENT FUEL?

Besides the reactors, there is also a dry spent fuel storage facility at the site for used nuclear fuel assemblies, and spent fuel pools at each reactor site that are used to cool down the used nuclear fuel. Without water supply to the pools, the water evaporates and the temperatures increase, risking a fire that could release a number of radioactive isotopes. An emission of hydrogen from a spent fuel pool caused an explosion at reactor 4 in Japan's Fukushima nuclear disaster in 2011.

WHAT HAPPENS IN A MELTDOWN?

A meltdown of the fuel could trigger a fire or explosion that could release a plume of radionuclides into the air which could then spread over a large area. The Chornobyl accident spread Iodine-131, Caesium-134, Strontium-90 and Caesium-137 across parts of northern Ukraine, Belarus, Russia, northern and central Europe. Nearly 8.4 million people in Belarus, Russia and Ukraine were exposed to radiation, according to the United Nations. Around 50 deaths are directly attributed to the disaster itself.

But 600,000 "liquidators", involved in fire-fighting and clean-up operations, were exposed to high doses of radiation. Hundreds of thousands were resettled. There is mounting evidence that the health impact of the Chornobyl disaster was much more serious than initially presented at the time and in the years following the accident. Incidence of thyroid cancer in children across swathes of Belarus, Russia and Ukraine increased after the accident. There was a much higher incidence of endocrine disorders, anaemia and respiratory diseases among children in contaminated areas.

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>>> Vistra Corp. (NYSE:VST) - Number of Hedge Fund Investors: 56

https://finance.yahoo.com/news/billionaire-stanley-druckenmiller-top-12-114039919.html

Duquesne Capital’s Q4 2023 Investment Value: $91.87 million

Vistra Corp. (NYSE:VST), headquartered in Irving, Texas, is a prominent integrated retail electricity and power generation company serving customers, businesses, and communities across the United States, spanning from California to Maine. Renowned for its leadership in the energy transformation sector, Vistra Corp. (NYSE:VST) plays a pivotal role in shaping the future of energy.

On March 1, Vistra Corp. (NYSE:VST) announced the successful completion of its acquisition of Energy Harbor Corp. This strategic move enhances Vistra's position in the integrated zero-carbon generation and retail electricity market by adding approximately 4,000 megawatts of 24/7 nuclear generation capacity and expanding its customer base by approximately 1 million retail customers.

By the end of 2023’s fourth quarter, 56 out of the 933 hedge funds surveyed by Insider Monkey were the firm’s investors. Stanley Druckenmiller owned approximately $92 million worth of VST shares as of the end of 2023

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>>> Vistra Corp. (VST), together with its subsidiaries, operates as an integrated retail electricity and power generation company. The company operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. It retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia. In addition, the company is involved in the electricity generation, wholesale energy purchases and sales, commodity risk management, fuel production, and fuel logistics management activities. It serves approximately 4 million customers with a generation capacity of approximately 37,000 megawatts with a portfolio of natural gas, nuclear, coal, solar, and battery energy storage facilities. The company was formerly known as Vistra Energy Corp. and changed its name to Vistra Corp. in July 2020. Vistra Corp. was founded in 1882 and is based in Irving, Texas. <<<



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