Small Modular Reactors (SMRs) are gaining momentum as a low-emission energy solution, but experts warn of unresolved radioactive waste issues, high costs, and elevated aggregate accident risks.
Valar Atomics, an SMR startup, is reportedly seeking a $6 billion valuation in a new funding round, with Sequoia expected to lead. The company, which recently partnered with Nvidia to power AI data centers, previously raised $450M at a $2B valuation.
South Korea's pursuit of uranium enrichment rights could boost cooperation with the US on Small Modular Reactors (SMRs), according to a Ministry of Foreign Affairs official. Securing these rights would enable stable supply of High-Assay Low-Enriched Uranium (HALEU), crucial for SMR commercialization and enhancing energy security for both nations.
South Korea, the US, and Japan signed a Memorandum of Cooperation (MOC) on the 7th to promote the adoption of Small Modular Reactors (SMRs) in Indo-Pacific countries. The agreement aims to reduce development risks, achieve economies of scale, and facilitate private investment in SMR projects. US Secretary of State Blinken also referred to the South Korea-Japan relationship as a 'very important alliance' in a political sense.
A consortium led by Polish billionaire Michał Sołowow plans to build 14 small modular nuclear reactors across three UK sites, including Gloucestershire. The £35bn private capital project aims to power 8m homes and potentially datacentres, with GE Vernova and Hitachi providing design. The consortium seeks a government support contract and aims for electricity generation by 2034.
India's defense and data center sectors are hampered by unreliable power. A policy dialogue highlighted Small Modular Reactors (SMRs) as a solution for clean, uninterrupted electricity, crucial for strategic resilience and mission-critical infrastructure.
Rolls-Royce has secured a £599m loan from the UK's national wealth fund to accelerate the development of small modular nuclear reactors (SMRs) at the Wylfa site in Anglesey, a project expected to create 1,000 jobs and bolster domestic energy security.
