The adage “a rising tide raises all boats” keeps coming to my mind whenever I think about the work ahead for small modular reactor and advanced reactor development companies. The groundwork being laid by the entire industry is key to moving the whole group forward together. The drive to construct new nuclear will need to include all sizes, designs, and companies, because unlike in many industries, there is no way there can only be one “winner” if we are to meet climate goals.
Recently, at global climate summit COP28, a large portion of the international community announced a joint aim to triple worldwide nuclear power generation by 2050. This is tremendous news and a huge step in the right direction for many reactor developers. It means that the work developers are doing now will lead to a market for their product for years to come. The questions we must all be asking are “How do we get there?” “Who is going to take the leap of faith to build the first-of-a-kind designs?” and “What challenges lie ahead?”