Industry Update—June 2026

Toronto-based Kinectrics, which was acquired last year by BWX Technologies, has entered into a strategic collaboration with the Turkish technology and engineering firm Nuclean with the objective of leveraging its experience in nuclear new builds in Turkey. The focus of the partnership will be on SMRs and advanced modular reactors in Turkey, as well as in other emerging markets in the region. Specific areas to be addressed by the collaboration include technology, engineering, licensing, supply chains, and project development support.

California-based Oklo and Sweden’s Blykalla have expanded their transatlantic strategic partnership with a focus on collaboration on fast reactor commercialization. Blykalla expects the collaboration to support the commercialization of its 55-MWe Sealer advanced lead-cooled reactor in the United States, with investments and personnel commitments of about $100 million–$200 million and 30–40 engineers across relevant workstreams. The technical workstreams supported by Blykalla will be relevant to Oklo’s DOE-authorized reactor pilot project, including neutronics and thermohydraulics analyses. The companies also intend to explore fast-neutron irradiation testing using Oklo’s Aurora Powerhouses to generate insights for Blykalla’s advanced reactor development.

TerraPower, along with the digital engineering and technology consulting company SoftServe, has released a preview demonstration of the Nvidia Omniverse–powered engineering platform, which TerraPower expects will accelerate the siting and design of its Natrium sodium fast reactor. The engineering platform is designed to apply AI-based digital twin technology to early-stage site engineering and design packages. The platform embeds plant designs and layouts into geotechnical modeling, grid interconnection analysis, and site-specific layout optimization. According to TerraPower, the demonstration “highlights the seamless AI-powered functionality of reducing site-specific design work from 18 months to as short as eight weeks.”

Great British Energy–Nuclear has selected the Litmus Nuclear joint venture—consisting of Amentum and Cavendish Nuclear—to serve as the owner’s engineer for its flagship SMR project at the Wylfa site in northern Wales. Under the terms of the contract—which has a maximum value of $406 million over up to 14 years—the work will support the deployment of Rolls-Royce SMR units. Litmus Nuclear is to provide essential independent assurance and expert technical advice, including on design, safety, engineering, construction, and commissioning.

Rolls-Royce SMR and Sweden’s Studsvik have signed a memorandum of understanding to broaden their collaboration, with the objective of advancing the future deployment and commercialization of the Rolls-Royce SMR. The British firm believes that Studsvik’s expertise and networks will help it to strengthen its European supply chain. The agreement covers cooperation in fuel qualification and testing, plant life management, hot cell technology, core design and operational modeling, and regulatory licensing support.

Mammoet and ULC-Energy have signed a cooperation agreement to streamline the construction of advanced nuclear power facilities in the Netherlands. Mammoet, which specializes in the engineering of heavy lifting and transport, has been developing modular construction techniques that allow large building blocks to be fabricated off-site and then transported to sites for installation. ULC-Energy has been working to deliver multiple SMR projects in the Netherlands and Belgium, with a focus on Rolls-Royce SMR technology. The partnership coincides with the Dutch government’s expressed commitment to deploying new nuclear energy facilities.

GE Vernova Hitachi Nuclear Energy (GVH) has entered into a main services agreement with AFRY, a Swedish engineering, project management, and advisory company, to support the deployment of BWRX-300 SMRs in Sweden and elsewhere in Europe. According to the agreement, AFRY will deliver engineering and advisory services that leverage its regional expertise and extensive presence across Europe. The collaboration is expected to benefit Swedish companies by allowing them to participate in opportunities associated with the expanding European SMR market. In addition, AFRY will support GVH in the development of a license application for the BWRX-300 to the Swedish Radiation Safety Authority.

SGE, which is the partner of GVH for the deployment of the BWRX-300 SMR in Poland, has signed nuclear fuel agreements with Spanish firms ENUSA Industrias Avanzadas and GNF ENUSA Nuclear Fuel. Together, the agreements strengthen SGE’s capabilities in nuclear fuel strategy, procurement preparation, and supply-chain development, and they support the company’s plans for BWRX-300 deployment across European markets. The agreement with ENUSA Industrias Avanzadas calls for SGE to develop a low-enriched uranium procurement model. The agreement with GNF ENUSA calls for SGE to receive consultancy, training, and engineering support related to organizational and technical aspects of nuclear fuel supply and other engineering services.

Blue Energy announced that it has raised $380 million in financing from investors to support its long-lead equipment procurement and project development. The investors were led by VXI Capital and Engine Ventures, with others including At One Ventures and Tamarack Global. Blue Energy expects its “project-financeable nuclear plant” development model to attract private capital by reducing the construction risk for nuclear power plants through centralized advanced manufacturing and predictable schedules. Blue Energy hopes to begin early site work on a project in Texas later this year, with a final investment decision to be made in 2027.

BUSINESS DEVELOPMENTS

EnergySolutions involved in multiple acquisitions

In mid-April, EnergySolutions announced that it had acquired WMG Inc., a longtime provider of engineering services, software, waste management solutions, inventory tracking, and regulatory-focused training and tools for the nuclear industry. EnergySolutions expects the acquisition to strengthen its delivery of nuclear services by combining its expertise in decommissioning, waste management, and other services with WMG’s advanced software platforms, technical support, and engineering capabilities.

The news came several days after an announcement that EnergySolutions itself had been reacquired by Energy Capital Partners (ECP) from TriArtisan Capital Advisors. TriArtisan, a New York–based middle-market private equity investing firm, had purchased ownership interest in EnergySolutions from ECP in 2022. ECP became the majority owner of EnergySolutions in 2013 and sold a minority ownership interest to TriArtisan in 2018.

BWX Technologies has entered into a definitive agreement to acquire the Precision Components Group (PCG), including its subsidiaries Precision Custom Components and DC Fabricators. PCG, which reported approximately $125 million in revenue in 2025, manufactures complex, heavy-walled, and heat-transfer components. PCG will become part of BWXT’s commercial operations segment while maintaining its existing manufacturing facilities, which consist of some 500,000 square feet of heavy-manufacturing capacity, including large-envelope machining, heavy weldments, pressure vessels, heat exchangers, and ASME-certified component fabrication, as well as a skilled workforce of more than 400 employees.

Framatome has signed an agreement with four European energy companies—ČEZ, Fortum, MVM Paks NPP, and Slovenské Elektrárne—to advance a fully European fuel supply for VVER-type nuclear power plants. The agreement seeks to help European Union countries obtain non-Russian fuel supplies for the 19 Soviet-era VVER reactors that are in operation around the EU, including four VVER-1000s in Bulgaria and the Czech Republic and 15 VVER-440s in the Czech Republic, Finland, Hungary, and Slovakia. Framatome’s “dual-track approach” to supplying fuel for these VVER reactors includes, in the short term, fabricating fuel identical to the Russian design currently used by the reactors while designing, developing, and qualifying its own fuel for the VVER-440 and VVER-1000 reactors.

The Curtiss-Wright Nuclear Division facility in Brea, Calif., has received ISO 19443:2018 certification, including Amendment 1:2024, for its quality management system. According to the company, the certification strengthens the facility’s ability to provide products and services related to nuclear safety, including critical service valves, actuators, and integrated component engineering services for advanced reactor designs and other nuclear applications using ISO-based quality standards. The Brea facility previously received ISO 9001:2015 certification in 2023.

Commonwealth Fusion Systems (CFS) and Realta Fusion have established a long-term strategic partnership for the design and manufacture of high-temperature superconducting (HTS) magnets, which Realta will use to speed the commercialization of its CoSMo fusion energy systems. CFS agreed to develop HTS magnets for both Realta’s demonstration prototypes and its eventual commercial fusion power plants and to share its expertise regarding the design, manufacture, deployment, and operation of the magnets. The partnership builds on a relationship that began in 2020, when the DOE’s Advanced Research Projects Agency–Energy funded the University of Wisconsin–Madison’s building of the Wisconsin HTS Axisymmetric Mirror (WHAM) experiment. Realta was spun out of WHAM in 2022. CFS provided WHAM with the HTS magnets used to confine its first plasma at the record-breaking magnetic field strength of 17 tesla in 2024.

Orano and Korea Hydro & Nuclear Power have agreed in an MOU to establish a broad cooperation framework covering the full nuclear fuel life cycle, ranging from the securing of uranium raw materials to conversion and enrichment processes. The companies stated that they plan to strengthen their existing mid- to long-term fuel supply foundation through collaboration on new production facilities.

EDF has signed a nonbinding MOU with National Thermal Power Corporation, a private company under India’s Ministry of Power, to explore cooperation in the development of new nuclear energy projects in India. The MOU establishes a framework for the companies to jointly assess approaches to collaboration, including evaluating the suitability of EDF’s EPR technology for Indian requirements, maximizing local supply chains, examining economic and tariff issues, developing human resource capabilities through training programs, considering potential project sites, and providing technical support. The Indian government has plans for six EPR units at its Jaitapur nuclear power plant project in the state of Maharashtra.

Fusion company Fuse Energy Technologies Corporation has announced plans to establish a new facility in Albuquerque, N.M., dedicated to analyzing radiation effects for defense, space, and semiconductor technologies. Fuse intends to construct radiation testing infrastructure on several acres of land at the Albuquerque location. The new facility, which is expected to be operational this summer, will deliver radiation-
­as-a-service testing for U.S. and allied government agencies, defense programs, and commercial companies that are developing advanced electronics, satellites, and other technologies that must function in radiation-intense environments.

CONTRACTS

Centrus taps Geiger Brothers for construction

Centrus Energy has selected Geiger Brothers as the construction contractor for the expansion of LEU and HALEU enrichment capacity at its American Centrifuge Plant in Piketon, Ohio. Fluor Corporation was previously announced as the project’s engineering, procurement, and construction contractor. While Fluor will oversee engineering, design, project management, supply chain activities, and materials and services procurement, Geiger Brothers will conduct on-the-ground construction work at Piketon.

Orano has also signed a contract with Nuro (Nuclear Reprocessing and Decommissioning Facilitation Organization of Japan) for the reprocessing in France of approximately 200 metric tons of spent fuel from nuclear reactors in Japan that are operated by Kansai Electric Power Company. The contract covers the reprocessing of the spent fuel at Orano’s facility in La Hague, France, the conditioning of the final waste, and the return of the waste to Japan. The waste will be recycled into new nuclear fuel to power Japanese civil nuclear reactors. The companies stated that these operations will contribute to the advancement of bilateral studies on the demonstration of spent MOX fuel reprocessing.

U.K. Fusion Energy (UKFE) has confirmed that Tokamak Energy is its magnet systems partner for the United Kingdom’s STEP Fusion program and provided Tokamak Energy with a £70 million (about $95 million) contract for a period up to March 2029. Tokamak Energy will deliver eight work packages for the magnets and will collaborate with UKFE’s integrated program team in magnets, tokamak systems, and plasma integration. The contract also allows UKFE to continue to use Tokamak Energy’s ST40, a compact, high-field spherical tokamak. The STEP program has moved into the delivery phase following completion of the design concept phase and receipt of government approval to progress toward whole-plant development in West Burton, Nottinghamshire, in England.