Industry Update—August 2026

South Korean construction management company HanmiGlobal is forming a project development company to enter the small modular reactor market in the United States. HanmiGlobal said the new company will oversee the entire SMR project cycle, including planning, licensing, engineering, procurement, construction, and grid connection. It will also serve as a platform for Korean nuclear engineering firms, equipment suppliers, and construction companies to gain greater access to the U.S. nuclear market and connect South Korea’s nuclear supply chain with U.S. customers.

Applied Atomics has secured exclusive rights to use BWX Technologies’ mPower SMR technology in the commercial deployment of terrestrial nuclear facilities in the United States, Canada, and elsewhere. Development of mPower was suspended in 2017 when Bechtel withdrew from a joint venture partnership, but BWXT retains ownership of mPower, as well as exclusive manufacturing rights for all mPower components. BWXT will have royalty rights for any components manufactured by Applied Atomics or other third parties. Under terms of the agreement, Applied Atomics will reengage the Nuclear Regulatory Commission to resume the design certification process for mPower and develop site-specific engineering protocols for commercial deployment. Applied Atomics will also provide technical support to BWXT as the licensing process advances.

BWXT’s mPower SMR is also being assessed in a feasibility study by Core Power to determine technical, regulatory, and commercial pathways for incorporating it into floating nuclear power plants. The study will cover baseline information exchange, systems engineering, concept of operations development, product requirements definition, regulatory pathway assessment, marine integration studies, and techno-economic analysis. It is expected to benefit from Core Power’s expertise in marine systems integration, shipyard delivery, and commercial deployment architecture.

Oklo Inc. has acquired ARMEC, a precision manufacturing and engineering firm with more than two decades of experience in the nuclear and industrial manufacturing sectors. Oklo said that the acquisition expands its “in-house capabilities for its advanced reactor and fuel-manufacturing programs, supports faster design-to-manufacturing feedback, and provides additional control over key elements of Oklo’s deployment timeline.”

Deep Fission has formed a partnership with the Day & Zimmermann Maintenance and Construction Division to advance the construction of Deep Fission’s Gravity nuclear reactor, which is designed to be installed about one mile underground. D&Z will oversee the preconstruction planning and perform aboveground construction work for the first-of-a-kind project, to be located at the Great Plains Industrial Park in Parsons, Kan. The project is part of the DOE’s Reactor Pilot Program.

GE Vernova Hitachi Nuclear Energy is collaborating with Velan to identify opportunities for Velan to supply reactor integral isolation valves and containment isolation valves for GVH’s BWRX-300 SMR projects in Europe. The agreement—which covers valves that help control coolant flow and support safe reactor operation—builds on the corporate relationship that has been established at the Darlington New Nuclear Project in Ontario, where Velan is supporting deployment of GVH’s first BWRX-300. GVH is planning several SMR projects in Europe, including in Poland in collaboration with Orlen Synthos Green Energy.

TerraPower has announced the official beginning of the regulatory review of its Natrium sodium-cooled fast reactor in the United Kingdom, as well as the establishment of a subsidiary in that country, TerraPower UK Ltd. The company’s generic design assessment application was accepted by the U.K. Department for Energy Security and Net Zero in February. TerraPower’s participation in the U.K. regulatory process is expanding on the company’s activities in the United States, which include approval in March by the NRC for construction of the first Natrium power plant and energy storage system in Kemmerer, Wyo.

Rolls-Royce SMR has selected two suppliers of nuclear island components for its SMR program in Europe—Škoda JS of the Czech Republic and Doosan Enerbility of South Korea. These companies have agreed to carry out pre-production work (including work for the reactor pressure vessel body), early supplier engagement, design finalization, and manufacturing readiness “to support the delivery of first power at the earliest possible date.” Rolls-Royce SMR plans to deploy its first units at Wylfa in Wales and at Temelín in the Czech Republic, with the intention of eventually deploying a global fleet of its SMRs while building supply chains and maximizing localization for its customers.

Italy-based Terra Innovatum Global and Baker Hughes have signed a memorandum of understanding on a plan to integrate supercritical CO₂ power conversion technology provided by Baker Hughes into Terra Innovatum’s Solo microreactor design to support higher cycle efficiency, a smaller footprint, and simplified balance-of-plant requirements.

BUSINESS DEVELOPMENTS

Department of Defense invests in expansion of White Mesa Mill

Critical materials company Energy Fuels announced in June that it received a conditional $725 million loan, with a tenor of 20 years, from the Department of Defense’s Office of Strategic Capital to support expansion of the company’s minerals processing capabilities at its White Mesa Mill in Utah. The financing, subject to final closing conditions and approvals, would also support construction of a planned rare earth metals and alloy facility in the United States, as well as new infrastructure and capacity to process rare earth elements and other materials in the company’s domestic and international projects. Energy Fuels expects that the DOD-OSC financing will help provide it with long-term capital flexibility as it advances its plans for project development, processing capacity, supply chain integration, and strategic priorities.

Cameco and Orano Canada have reached agreement with Tepco Resources to acquire Tepco’s 5 percent participating interest in the Cigar Lake joint venture, the world’s highest-grade uranium mine, located in northern Saskatchewan. Upon closing, Cameco’s ownership stake in the Cigar Lake property increased by 2.871 percentage points to 57.418 percent, while Orano’s share increased by 2.129 percentage points to 42.582 percent. Since production began at the site in 2014, Cigar Lake has produced more than 174.5 million packaged pounds of uranium concentrate (U₃O₈).

Framatome has completed its acquisition of Trillium Flow Technologies France from the British business group Trillium Flow Technologies. The acquisition—after which Trillium Flow Technologies France changed its name to Sebim—gives Framatome added specialization in the design and manufacture of safety valves and related services for the nuclear, petrochemical, aerospace, and process industries. Trillium Flow Technologies has designed and manufactured many valves used in the nuclear industry for both new reactor projects and existing reactors, and it provides spare parts and maintenance services. The newly named Sebim has about 330 employees and operates two production facilities in Saint-Victoret and Vendin-le-Vieil, France.

The Swedish state-owned power company Vattenfall has announced that, as of 2027, the Swedish government is acquiring a 60 percent majority stake of Videberg Kraft, the nuclear power company jointly owned by Vattenfall and Industrikraft. Ownership of the remaining 40 percent is to be equally shared between Vattenfall and Industrikraft. Videberg Kraft is developing a 1.4 GW power plant on Sweden’s west coast that will include three SMRs provided by Rolls-Royce.

General Fusion Inc. has signed a framework agreement with the Italian renewable energy firm Renexia SPA to advance the commercial deployment of the Canadian company’s fusion energy technology in Italy. General Fusion, which had previously announced a business combination with Spring Valley Acquisition Corp., is to collaborate with Renexia in the potential siting, development, funding, construction, and commissioning of one or more magnetized target fusion power plants. The framework agreement defines a series of potential collaboration phases, beginning with site evaluation and selection. The new business combination with Spring Valley, called General Fusion Group Ltd., is to be traded on Nasdaq.

Plynth Energy, a UAE government-owned, early-stage fund, has acquired a minority stake in Commonwealth Fusion Systems, which is developing ARC, a tokamak which CFS expects will be “the world’s first grid-scale fusion power plant” in the early 2030s.

CONTRACTS

EDF strengthens partnerships for Sizewell C, Hinkley Point C

EDF and Sizewell C have signed a professional services framework with the AtkinsRéalis Group. It extends the work that AtkinsRéalis provides across EDF’s existing fleet of nuclear power plants and its new build at Hinkley Point C for five years. The framework also includes the potential for an additional five-year extension and encompasses engineering services for EDF’s new build at Sizewell C.

Cavendish Nuclear has been selected for three professional services agreements to provide continued nuclear services in the United Kingdom for EDF, Hinkley Point C, and Sizewell C. The agreements cover a five-year period with a potential five-year extension, according to Cavendish Nuclear. The covered work includes Cavendish Nuclear’s ongoing maintenance of EDF’s existing reactors, support for EDF at Hinkley Point C, and collaborative delivery of services at Sizewell C.

Global engineering firm Assystem has signed on as a strategic partner for EDF and Sizewell C in four framework agreements covering a five-year period. Assystem will carry out a range of activities encompassing engineering work, digital tasks, and project and construction management at Sizewell C, Hinkley Point C, and EDF’s existing nuclear power plants in the United Kingdom. Assystem will also support the design authority of the main licensees and contribute to delivering 6.6 GW of new EPR-generated electricity to the U.K. grid.

TerraPower subsidiary TerraPower Isotopes has reached an agreement with Belgian medical radioisotope producer PanTera on an expansion of their existing collaboration. Under the terms of the agreement, the Institut des Radioéléments in Belgium will host and operate PanTera’s new production line for actinium-225, and TerraPower Isotopes will provide additional starting material for the expanded production of this medical radioisotope.

NEW PRODUCTS

Packaging system available for Type A waste transport

Skolnik Industries has introduced the LS-7A packaging system for transporting Type A liquid radioactive waste which consists of a clamshell-type closure assembly, an impact-protection system, a welded chime construction, and a dual-drum configuration. Skolnik Industries reports that the LS-7A system was developed with collaborators across the Department of Energy complex to bridge “the gap between small-volume sample containers and large-scale bulk transportation systems.” The LS-7A allows users to transport 30 gallons of Type A liquid radioactive waste in a single package, and could also be used as an overpack for certain containers.

NRD LLC—a manufacturer of radioisotope-based products and radioisotope thermoelectric generator fuels—has introduced its NBV series of nickel-63-fueled, solid-state betavoltaic nuclear battery power cells. According to NRD, the power cells convert beta-decay energy into electrical power in a sealed, solid-state structure that is appropriate “for remote and inaccessible environments where conventional batteries, servicing, and replacement cycles are impractical.” The product’s performance features include a power output range of 5 nanowatts to 500 nW, an open-circuit voltage of 1.0 V to 20.0 V, and a nominal current of 7.5 nanoamperes to 33 nA. The stated applications of the power cells include commercial and industrial condition monitoring, metrology and data logging, unattended sensing and secure keep-alive functions, remote environmental monitoring, AI-enabled autonomous and robotic systems, security, and long-duration health monitoring.