Nuclear News

Advanced nuclear energy start-up Antares has announced the close of a $96 million Series B funding round, led by Shine Capital with participation from Alt Capital, Caffeinated, FiftyThree Stations, Industrious, and other investors. The round raised $71 million in new equity capital and $25 million in debt for equipment, factory build-out, and uranium procurement.

The Department of Energy has selected the Tennessee Valley Authority and Holtec Government Services to support the early deployments of light water small modular reactors in the United States. The companies will each receive as much as $400 million in federal cost-shared funding to advance their initial SMR projects in Tennessee and Michigan, respectively, including follow-on projects and associated supply chains.

Four public electric utilities—three based in Nebraska and one in Oklahoma—recently signed a memorandum of understanding to form the Great Plains New Nuclear Consortium. The first goal of that new consortium is to explore the feasibility of deploying 1–2 GW of new nuclear (potentially in the form of small modular reactors) within Nebraska.

The Nuclear Regulatory Commission recently announced that it has completed its final safety evaluation (SE) for the construction permit application for Kemmerer Power Station Unit 1 in Kemmerer, Wyo. The application was submitted by TerraPower on behalf of its wholly owned subsidiary, US SFR Owner (USO).

Craig Piercy
cpiercy@ans.org

These days, the ship of civil nuclear technology we are all aboard is sailing through a turbulent passage. The winds and currents are favorable, but there are swells ahead: steep energy-­demand projections, buoyant equity valuations, splashy announcements, a generational realignment of nuclear policies and institutional norms.

Part of the reason we chose “Building the Nuclear Century” as the theme for this year’s Winter Conference was to put some ballast in the hull of the nuclear conversation.

Advanced nuclear fission and fusion energy development are accelerating, both here and around the world. And yet, at least in the U.S., we are still years away from connecting commercial Gen IV systems to our grid.

In a world growing increasingly impatient, how do we stay on task and deliver? There are three ingredients to success.

Hash Hashemian
president@ans.org

At the time of this writing, it is only a few days before the American Nuclear Society’s 2025 Winter Conference & Expo in Washington, D.C., which is set to be an unmissable gathering of key nuclear leaders from across the United States and the world. Over the past three weeks, I have been working doggedly to obtain nearly $500,000 in sponsorships and recruit speakers for the conference.

I am thankful for the many generous donors—such as the Tennessee Valley Authority and Constellation—who continue to enable ANS to serve its members, in part by putting on the best conferences we possibly can.

I conducted much of my fundraising and recruitment while I was traveling to represent ANS at various universities, laboratories, and conferences. As I’ve mentioned before, I am focused on developing criteria around where ANS presidents travel to ensure that our resources are spent wisely; I am working with ANS past president Gail Marcus (2001–2002) to develop those criteria now, and in the meantime, I have been judicious in deciding which invitations to accept.

The Department of Energy recently announced that General Atomics has successfully completed the conceptual design of its new helium gas–cooled fast modular reactor (FMR). This milestone moves the company one step closer to a target demonstration in the 2030s.

Here is a recap of recent industry happenings:

ADVANCED REACTOR MARKETPLACE

Agreement signed on advanced nuclear technology in space

Texas-based space technology and orbital logistics developer Space Ocean Corporation and New Mexico–­based space nuclear power systems developer Space Nuclear Power Corporation (SpaceNukes) have signed a letter of intent to explore the integration of advanced nuclear reactor technology into future space missions. Space Ocean agreed to test SpaceNukes’ 10-kilowatt microreactor aboard its ALV-N satellite and, if performance criteria are met, to use SpaceNukes as a core supplier of reactors for future Space Ocean lunar and planetary missions. The companies also agreed to examine the integration of fluid delivery systems with reactor modules, to collect operational data to support technology readiness certification, and to form a joint working group to pursue additional space infrastructure and commercial opportunities.

The International Atomic Energy Agency is inviting young professionals under 35 years of age to submit essays on innovations in the nuclear fuel supply chain, covering topics from uranium exploration to the recycling of spent nuclear fuel.

Along with several other nations, Canada has committed to net-zero emissions by 2050. Part of this plan is tripling nuclear generating capacity. As of 2025, the country has four operating nuclear generating stations with a total of 17 reactors, 16 of which are in the province of Ontario. The Independent Electricity System Operator has recommended that an additional 17,800 MWe of nuclear power be added to Ontario’s grid.

Six universities in Africa, Asia, Latin America, and the Caribbean now offer postgraduate courses in nuclear law with support from the International Atomic Energy Agency, expanding legal education in the nuclear community.

One of the executive orders issued by President Trump in November —“Launching the Genesis Mission”—focuses on a national effort to accelerate the use of AI in scientific research. The Genesis Mission EO preceded a reorganization of the Department of Energy and further tightens links between science and security under the administration’s quest for “global technology dominance in the development of artificial intelligence.”

In a recent press release, the Department of Energy announced an organizational realignment aimed at “expanding American energy production, accelerating scientific and technological leadership, and ensuring the continued safety and readiness of the nation’s nuclear weapons stockpile.”

Advanced reactor developer X-energy has announced that it has closed an oversubscribed Series D financing round of approximately $700 million. The funding proceeds are expected to be used to help continue the expansion of its supply chain and the commercial pipeline for its Xe-100 advanced small modular reactor and TRISO-X fuel, according the company.

Hideyo Hanazumi, governor of Niigata Prefecture in Japan, has approved the restart of two reactors at Kashiwazaki-Kariwa nuclear power plant. The seven-unit facility, operated by Tokyo Electric Power Company, is the largest nuclear power plant in the world. It has been shut down since the March 2011 earthquake and tsunami struck the country, severely damaging TEPCO’s Fukushima Daiichi plant.

The Nuclear Regulatory Commission announced that it has received the first portion of a construction permit application from Oklo subsidiary Atomic Alchemy that requests permission to build four nonpower reactors for a radioisotope production facility at Idaho National Laboratory. The submission is now available for public inspection on the NRC website.

The U.S. nuclear industry is standing at its most volatile regulatory moment yet—one that will shape the trajectory and the safety of the industry for decades to come. Recent judicial, legislative, and executive actions are rewriting the rules governing the licensing and regulation of nuclear power reactors. Although these changes are intended to promote and accelerate the deployment of new nuclear energy technologies, the collision of multiple legal shifts—occurring simultaneously and intersecting with profound technological uncertainties—is overwhelming the Nuclear Regulatory Commission and threatening to destabilize investor and industry expectations.

As President Trump hosted Saudi Crown Prince Mohammed bin Salman at the White House on November 19, Energy Secretary Chris Wright confirmed that the United States and Saudi Arabia have signed a “historic” deal on cooperation in the civilian nuclear energy sector. The “Joint Declaration on the Completion of Negotiations on Civil Nuclear Cooperation” is seen as an important part to strengthen U.S. influence in the Gulf region to counter the influence of Iran, Russia, and China.

The Department of Energy’s Office of Nuclear Energy is requesting comments on a draft voluntary agreement for the Nuclear Fuel Cycle Defense Production Act (DPA) Consortium, with a short deadline of November 24 for comments.

Notice of the request for comments, along with the text of the draft voluntary agreement, was published in the November 17 Federal Register.

The Department of Energy announced on November 18 that it has closed on a $1 billion loan through its Loan Programs Office to Constellation to aid in financing the restart of the 835-MWe Crane Clean Energy Center, formerly Three Mile Island-1.