Industry Update—July 2026

Terrestrial Energy, which is developing its Integral Molten Salt Reactor (IMSR), has announced a collaboration with Riot Platforms, a developer of data centers and bitcoin mining applications, to create future data centers with co-located advanced nuclear plants. The two companies plan to consider project opportunities at multiple sites, including existing Riot facilities in Texas and Kentucky. Projects would involve the customization of IMSR power plant configurations integrated with Riot’s hyperscale data center operations.

GE Vernova has formed a strategic collaboration with the nuclear project financing and manufacturing firm Blue Energy to “advance the world’s first gas-plus-nuclear power plant.” The companies intend to design and develop a power plant using GE Vernova Hitachi Nuclear Energy BWRX-300 small modular reactors and GE Vernova gas turbines to meet electricity demands related to AI and advanced manufacturing. Subject to a final investment decision in 2027, the first such plant is to be located at a Blue Energy site in Texas and will power a nearby data center campus. The companies also have signed a slot reservation agreement for delivery of two GE Vernova 7HA.02 gas turbines to the Texas site in 2029.

TerraPower has signed agreements with HD Hyundai and Hyundai Engineering and Construction (HDEC) to support the commercialization and deployment of a fleet of its Natrium sodium fast reactors and integrated energy storage plants. TerraPower and HD Hyundai signed a supply framework agreement that established the shipbuilding subsidiary HD Hyundai Heavy Industries as a preferred manufacturer for components of the Natrium Reactor Enclosure System. TerraPower, HD Hyundai, and HDEC signed a strategic agreement to leverage the expertise of HD Hyundai and HDEC in project delivery and execution to support TerraPower’s commercialization plans. All three companies plan to collaborate on the design, manufacturing, supply chain, construction, commercialization, and delivery of multiple Natrium reactors.

Blykalla, which is developing a lead-cooled reactor called Sealer, has entered into a joint development agreement with the ABB Group, a Swedish-Swiss electrification and automation technology corporation. The agreement follows a two-year exploratory phase between the partners. Blykalla and ABB intend to jointly develop key elements of a prototype reactor and collaborate on a demonstration reactor and commercial units. The agreement also establishes ABB as Blykalla’s partner for automation, control systems, and control room equipment.

First American Nuclear (FANCO)—developer of a liquid metal fast-spectrum reactor called EAGL-1, which uses lead-bismuth coolant—has entered a strategic alliance with AtkinsRéalis to jointly develop, test, and license the design. AtkinsRéalis is to serve as the exclusive engineering, procurement, and construction management provider for all EAGL-1 reactor, fuel fabrication, and recycling facility projects in North America. FANCO has committed to collaborating with the state of Indiana on deployment of the first EAGL-1 power plant in that state, where the company is headquartered. The first EAGL-1 is expected to begin delivering power “by 2033.”

BLSK Energy has signed an agreement with Argonne National Laboratory for BLSK to lead the commercialization of a technology to produce fuel for fast reactors by recycling used fuel from existing power reactors. The cooperative research and development agreement (CRADA) provides BLSK with exclusive access to a pyroprocessing technology developed by Argonne, as well as access to the lab’s expertise and facilities. The CRADA also grants BLSK exclusive access to a reprocessing facility design developed by Argonne and Merrick & Company. BLSK hopes to establish an operating pilot recycling facility by 2034.

Urenco and microreactor developer Antares have signed a long-term enrichment services agreement under which Urenco will provide high-assay low-enriched uranium for Antares’s microreactors, supporting planned deployments of the advanced reactors in North America and allied markets. The fuel is to be produced at Urenco’s U.K. HALEU enrichment facility.

Deep Fission, a developer of small pressurized water reactors that are designed to be installed one mile underground, launched an underwritten public offering of six million shares of its common stock in mid-May. The company stated that it would grant the underwriters a 30-day option to purchase as many as 900,000 additional shares of its common stock at the IPO price, which was expected to be between $24 and $26 per share. Deep Fission also applied for a listing of its common stock on the Nasdaq Global Market under the ticker symbol “FISN.” The company said that it intends to use the net proceeds from this offering for general working capital and corporate purposes, including the engineering, research and development, licensing, and construction of its first pilot reactor and associated technologies.

BUSINESS DEVELOPMENTS

Nano Nuclear acquires transportation company

Microreactor developer Nano Nuclear Energy has acquired Secured Transportation Services, a company specializing in the transport of radioactive and nuclear materials. According to Nano, the acquisition furthers its goal of “becoming a leader in the next generation of nuclear energy infrastructure.” STS, which generated $7.1 million in revenue and a net income of $1.3 million in 2025, has more than two decades of nuclear transportation experience related to the execution of complex nuclear materials projects in more than 40 countries. It was acquired by Nano’s transportation subsidiary, Advanced Fuel Transportation, for a total consideration value of $13 million.

The United Kingdom Atomic Energy Authority and the U.S.-based fusion energy company TAE Technologies have established the joint venture TAE Beam UK, with the objective of commercializing particle accelerator technology for applications including fusion. TAE Beam UK, which is headquartered on UKAEA’s Culham Campus, initially intends to work on the development of neutral beams for heating and sustaining fusion reactions for electricity generation.

Japanese start-up Helical Fusion, which is developing a stellarator power plant design, has launched a strategic partnership framework called Helix Program Official Partners, described as the company’s “core initiative to realize commercially viable fusion energy in the 2030s.” The three official founding partners are the Japanese firms Nichias Corp., Hasetora Spinning, and Seno Kisen. The partnership will support manufacturing and construction initially for the Helix Haruka, which is Helical Fusion’s integrated demonstration device, and then the Helix Kanata, the company’s first commercial plant, which is expected to become operational in the 2030s.

Myriad Uranium Corp. has completed its sale of the Red Basin Uranium Project in New Mexico. Subatomic Red Basin purchased all the mineral claims comprising the Red Basin Uranium Project for $2.5 million. Myriad Red Basin—which is Myriad’s wholly owned subsidiary—retained a 10 percent financial interest in the Red Basin project pursuant to a phantom interest agreement between Myriad and Subatomic. Myriad and Subatomic have also formed a strategic alliance regarding the exploration and development of other projects beyond Red Basin, pursuant to a strategic alliance agreement between the companies.

Red Wolf Associates, a provider of specialized analysis services in thermal hydraulics, HVAC, and dose analysis, has acquired Contech Inc., an engineering company with more than 35 years of expertise in regulatory-driven engineering and nuclear quality assurance, particularly in equipment qualification. According to Red Wolf, the acquisition positions it to deliver a more comprehensive suite of compliance and technical services to nuclear utilities and operators of the existing fleet, as well as companies that are developing new reactor technologies.

CONTRACTS

Southern Nuclear strengthens cooperation with KHNP

Southern Nuclear, which operates nuclear power plants in Alabama and Georgia, has signed a memorandum of understanding with Korea Hydro & Nuclear Power to strengthen cooperation across power plant operations, equipment maintenance and reliability, and overall engineering frameworks. KHNP stated that the collaboration with Southern Nuclear will allow it to broaden the global perspectives of its engineers and advance its engineering framework.

Lightbridge Corp., a fuel developer, has entered a partnership with nuclear technical services provider Studsvik Scandpower. The partners intend to develop an extension of the Studsvik CMS5 Core Management Suite to model Lightbridge’s fuel design, which is intended to improve the economics, safety, and proliferation resistance of existing light water and pressurized heavy water reactors as well as new SMRs.

Great British Energy–Nuclear has selected Jacobs to provide environmental services for the Oldbury site in South Gloucestershire, England, which is being considered for potential new nuclear development. Jacobs has been contracted to develop environmental baseline data for terrestrial and marine environments, as well as environmental assessment, habitats regulations assessment, and associated activities to inform any future planning, design, and permitting decisions. Jacobs will deliver these services with AtkinsRéalis and AECOM as subconsultants. The work of this contract builds on previous site characterization activities at the Oldbury site.

Framatome and the Czech Republic’s Research Centre Rˇež (CVR) have signed a technical cooperation agreement to develop approaches to using various fuel types in the Czech research reactor LVR-15. Framatome and CVR have been cooperating on fuel development for the research reactor for more than 10 years. They now intend to establish a joint working group to carry out such activities as development of neutronics calculation models based on LVR-15 operational experiences.