A new generation of US nuclear developers, often referred to as 'nuclear bros,' is leading a resurgence in nuclear energy with a push for advanced small modular reactors (SMRs). This comes after a 40-year period of stagnation following the Chernobyl and Fukushima disasters, driven by ambitious net-zero targets and surging power demands from data centers. Morgan Stanley predicts global nuclear capacity to more than double by 2050, with investments in the nuclear value chain reaching $2.2 trillion.
President Donald Trump's administration has played a significant role, pledging to expand American nuclear energy capacity from 100 to 400 gigawatts by 2050 and to have 10 new large reactor designs under construction by 2030. This initiative, backed by executive orders, aims to streamline regulations and accelerate reactor development. Trump's goal includes quadrupling US atomic energy capacity by 2050 and an $80 billion partnership with private equity group Brookfield and Westinghouse to kick-start construction of eight large-scale nuclear plants. However, critics warn that building large-scale reactors from scratch is complex and prone to delays.
Several startups are making progress under these initiatives. Antares Nuclear successfully achieved criticality with its Mark-0 microreactor in June, becoming the first advanced reactor to hit this milestone under a Department of Energy pilot program established by Trump's executive order 14301. Oklo, another advanced nuclear technology company, completed construction of its Groves One pilot isotope production reactor in just 229 days. Companies like Holtec International are also receiving substantial government support, with Holtec securing $3.2 billion in US government aid to restart the Palisades plant.
