Latest news with #SMRs
Cision Canada
2 days ago
- Business
- Cision Canada
OPG and OSGE strengthen collaboration on small modular reactors in Poland
New agreement could pave way for OPG to partner in operating the Polish reactors WARSAW, Poland, July 21, 2025 /CNW/ - Ontario Power Generation (OPG) and Orlen Synthos Green Energy (OSGE) have signed a letter of intent (LOI) that paves the way for the Canadian company to provide pre-deployment, operations, maintenance, and other services to OSGE as Poland deploys small modular nuclear reactors (SMRs). The LOI builds on an earlier agreement announced by the companies in June 2023. Poland plans to build as many as 24 GE Hitachi Vernova Nuclear (GVH) BWRX-300 reactors – the same technology as OPG is building at its Darlington New Nuclear Project (DNNP) site east of Toronto – at six locations across the country. OPG and OSGE signed the LOI today in Warsaw, Poland. This is the first major milestone in the development and operation of BWRX-300 SMRs in Poland. This LOI represents a long-term relationship between Ontario and Poland to deploy SMRs together, which will ultimately benefit the Ontario supply chain and demonstrating the value of being a first mover in SMRs. In addition, OPG could provide pre-operations services including site-specific assessments, project management, licensing strategy, and advisory services as Poland builds out clean energy generation to meet demand and achieve energy independence. Key facts OPG has begun construction on the G7's first commercial grid-scale SMR at its DNNP site. Construction on the first of four planned BWRX-300 reactors will be complete by the end of this decade, with the unit connected to the grid by the end of 2030. Once complete, this SMR will produce enough electricity to power the equivalent of 300,000 homes. OPG and its project partners will complete the three subsequent units in the mid-2030s, pending regulatory and other approvals. Ontario is home to a robust nuclear supply chain. More than eighty Ontario companies have already signed agreements with OPG to deliver the SMR project, establishing themselves as leaders in the growing domestic and global markets for new nuclear technologies. In 2022, Synthos Green Energy and ORLEN established the joint venture OSGE to deploy a fleet of BWRX-300 SMRs in Poland. This agreement further cements a well-established relationship between OPG and OSGE. In addition to the Letters of Intent, in 2024, OPG subsidiary Laurentis Energy Partners signed a $40 million contract with the Polish company to complete a Preliminary Safety Analysis Report (PSAR) on SMRs. Orlen Synthos Green Energy and OPG are also part of a technical collaboration group – also including GE Vernova Hitachi and the Tennessee Valley Authority – which has invested in the development of the BWRX-300 standard design and detailed design for key components, including reactor pressure vessel and internals. Quotes "With many decades safely operating nuclear power generation, and our leadership on SMRs, jurisdictions are looking to OPG and Ontario as they advance new nuclear power, as a solution for their energy security needs," said Nicolle Butcher, OPG President and CEO. "We are honoured by the potential opportunity to help Poland build a nuclear fleet, while also growing our domestic nuclear supply chains and economies." "Benefiting from Canadians' expertise allows us to feel confident in building the first SMR reactor in Poland," said Rafał Kasprów, OSGE CEO. "We recognize OPG's experience in the nuclear industry as well as its determination and advancement in deploying the first BWRX-300. Today, we are embarking on new opportunities to bring clean, stable energy for our citizens and Polish industry." About OPG As Ontario's largest and one of North America's most diverse electricity generators, OPG invests in local economies and employs thousands of people across Ontario. OPG and its family of companies are advancing the development of new low-carbon technologies, refurbishment projects and electrification initiatives to power the growing demands of a clean economy. Learn more about how the company is delivering these initiatives while prioritizing people, partnerships and strong communities at
Yahoo
5 days ago
- Business
- Yahoo
Rolls-Royce SMR and ČEZ agree on Temelín site development work
Rolls-Royce SMR has signed an early works agreement with Czech utility ČEZ to commence site-specific activities at the Temelín site in the South Bohemia region of the Czech Republic. The agreement follows ČEZ's selection of Rolls-Royce SMR as its preferred partner for delivering up to three gigawatts (3GW) of sustainable power in Czechia. This initiative aligns with recent commitments by UK and Czech leaders to enhance economic growth through clean energy technology. It underscores both nations' dedication to leveraging small modular reactor (SMR) export opportunities, fostering highly skilled employment, stimulating economic expansion, and ensuring secure, domestically produced clean energy. Rolls-Royce SMR CEO Chris Cholerton stated: "This agreement is an important step forward in our partnership with ČEZ, demonstrating our shared ambition to move at pace to deliver reliable, clean nuclear power in the Czech Republic. "We are proud to be working alongside ČEZ to deliver a programme that will bring significant industrial and economic benefits to both our nations, while helping to meet critical energy security and decarbonisation goals." A joint team has been assembled to undertake preliminary tasks at the site, which already houses the operational Temelín nuclear power station, operated by ČEZ. Further deployment prospects are being evaluated at Tušimice in the Ústí nad Labem region. The scope of early works involves acquiring regulatory approvals and licences, conducting environmental assessments and executing initial groundwork at Temelín. These efforts will facilitate detailed planning processes and foster engagement with regulatory bodies for timely project rollout. Each unit from Rolls-Royce's suite of SMRs can produce 470MW of eco-friendly electricity, sufficient to supply one million households. It is designed to have an operational lifespan of more than 60 years. ČEZ new energy division and member of the board and director Tomáš Pleskač stated: 'We will closely cooperate with Rolls-Royce SMR on preparing the construction of the first small modular reactor in the Czech Republic, which is expected to be built in the Temelín locality in the mid-2030s. 'Modular reactors represent a significant opportunity for the Czech economy and are an essential part of the ongoing energy transformation. The cooperation with Rolls-Royce SMR, which we established this year, offers a unique opportunity for growth and prosperity in the field of nuclear energy, also thanks to our participation in the technology development.' In June 2025, Great British Energy – Nuclear chose Rolls-Royce SMR as the preferred bidder for the development of SMRs in the UK, subject to final government approvals and contract negotiations. "Rolls-Royce SMR and ČEZ agree on Temelín site development work" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Sustainability Times
6 days ago
- Business
- Sustainability Times
Buried Reactors, Silent Power: Deep Fission's Radical Nuclear Plan Could Revolutionize How the World Feeds Its Data Machines
IN A NUTSHELL 💡 Deep Fission plans to revolutionize energy by burying micro-reactors underground to power data centers efficiently. plans to revolutionize energy by burying underground to power data centers efficiently. 🤝 Strategic partnerships with companies like Endeavour highlight the growing trend of leveraging nuclear power in the tech industry. highlight the growing trend of leveraging nuclear power in the tech industry. 🔧 The use of small modular reactors (SMRs) promises cost reduction and increased accessibility through mass production techniques. promises cost reduction and increased accessibility through mass production techniques. 📈 Despite regulatory challenges, Deep Fission targets operational status by 2029, potentially transforming the U.S. nuclear landscape. The concept of burying nuclear reactors underground might seem like a scene from a sci-fi movie, but it's becoming a reality thanks to innovative startups like Deep Fission. In a world grappling with escalating energy demands, especially from data centers powering AI technologies, traditional energy sources are being pushed to their limits. As a response, the nuclear sector is undergoing a renaissance, with companies exploring groundbreaking ways to generate clean and efficient power. Deep Fission, in collaboration with data center developer Endeavour, aims to harness subterranean nuclear power to meet these demands. But how exactly does this approach work, and what implications does it have for the future of energy? The Rise of Subterranean Nuclear Power The 1950s marked the beginning of underground nuclear testing as countries sought to minimize fallout from aboveground detonations. Fast forward to today, and this concept of using the earth as a natural barrier is being revisited by Deep Fission. By lowering small modular reactors into one-mile-deep boreholes, the company aims to utilize the insulating properties of the earth to safeguard its operations. This method not only promises enhanced safety but could also reduce the need for the tons of concrete traditionally required for reactor construction. Deep Fission's partnership with Endeavour signals a significant step toward realizing this vision, with plans to generate 2 gigawatts of subterranean nuclear power. The startup's innovative approach aligns with the growing trend among nuclear companies to develop compact reactors that can be mass-produced, subsequently lowering costs and increasing accessibility. The collaboration also underscores a broader effort within the tech industry to secure reliable and sustainable energy sources to fuel the ever-increasing computational power required by AI technologies. '18 Hours Without Cooling': Nuclear Reactor Left Unprotected After Technician Closes Wrong Valve in Alarming Safety Breach Strategic Partnerships and Investments Strategic partnerships are at the core of Deep Fission's approach, as demonstrated by its recent deal with Endeavour. Although the financial terms of the agreement remain undisclosed, it highlights the trust and confidence stakeholders have in the startup's vision. The partnership is part of a broader trend where tech giants like Google and Amazon are turning to nuclear startups to meet their energy needs. For instance, Google has teamed up with Kairos for 500 megawatts of reactors, while Amazon collaborates with X-Energy for around 300 megawatts. These alliances emphasize the importance of sustainable and efficient energy solutions in the tech industry. As data centers continue to expand globally, their energy consumption increases, necessitating innovative solutions like those offered by Deep Fission. Such partnerships not only showcase the potential of nuclear power in a modern context but also highlight the critical role of investment in driving technological advancements and sustainability efforts. 'Elusive Plasma Voids Found': US Scientists Crack Tokamak Confinement Mystery After Decades of Global Fusion Frustration The Promise of Small Modular Reactors At the heart of Deep Fission's strategy is the use of small modular reactors (SMRs). These reactors offer numerous advantages over traditional nuclear power plants, primarily due to their compact size and modular design. By utilizing mass production techniques, SMRs promise to significantly reduce the cost of nuclear power, making it a more viable option for widespread adoption. Their smaller footprint also allows for easier integration into existing infrastructure, maximizing land use efficiency. Deep Fission's reactors employ pressurized-water designs, a reliable technology used in various applications, from nuclear submarines to large-scale power plants. This approach highlights the adaptability and versatility of SMRs, making them suitable for a wide range of energy needs. The ability to generate power at a cost of five to seven cents per kilowatt-hour positions Deep Fission as a competitive player in the energy market, with the potential to revolutionize how we think about nuclear power. 'America Races to Catch China': U.S. Fast-Tracks Nuclear Reactor Testing in Urgent Bid to Regain Global Energy Lead Regulatory Challenges and Future Prospects Despite the promising prospects of subterranean nuclear power, regulatory approval remains a significant hurdle for startups like Deep Fission. The company began the licensing process with the Nuclear Regulatory Commission (NRC) in March, facing a timeline that, historically, could span several years. However, recent changes in legislation have introduced an 18-month limit for the NRC to approve or reject small modular reactors, expediting the process and providing a clearer path for innovation. As Deep Fission targets operational status for its first reactor by 2029, it joins a wave of companies poised to transform the nuclear landscape in the U.S. While the path to regulatory approval is fraught with challenges, the potential benefits of this technology are undeniable. As the world continues to seek sustainable and efficient energy solutions, could subterranean nuclear power be the breakthrough we've been waiting for? This article is based on verified sources and supported by editorial technologies. Did you like it? 4.5/5 (27)
Globe and Mail
6 days ago
- Business
- Globe and Mail
Is GE Vernova Thriving on Growing Nuclear SMR Opportunities?
With increasing global demand for low-carbon energy sources, nuclear small modular reactors ("SMRs") are seeing increased adoption lately, thanks to their lower siting costs, shorter production times and easier scalability that enable operations in remote locations. As a prominent clean energy stock, GE Vernova Inc. GEV has been making significant progress by capitalizing on this trend. Notably, through its GE Vernova Hitachi Nuclear Energy ('GVH') joint venture, the company is currently engaged in the development and deployment of its flagship BWRX-300 SMR, a compact nuclear reactor capable of generating 300 megawatt ('MW') power. This reactor features significantly lower capital cost per MW compared to a typical water-cooled SMR. The first BWRX-300 SMR is currently scheduled to be commissioned in Canada in 2029, at Ontario Power Generation's Darlington New Nuclear Project site. Looking ahead, with the need to triple global nuclear capacity by 2050 to meet net-zero targets (according to the World Nuclear Association), GE Vernova is actively working to capture a larger market share through strategic agreements aimed at expanding deployment of its BWRX-300 SMRs. Evidently, in July 2025, GVH and Fortum entered into an early work agreement to advance potential deployment of the BWRX-300 SMR in Finland and Sweden. In May, Emirates Nuclear Energy Company and GVH signed an MoU to jointly evaluate the deployment of the BWRX-300 SMR technology internationally. GVH has also signed a series of MOUs with UK firms to enhance the deployment of BWRX-300 SMR in Great Britain. With these strategic partnerships, GE Vernova remains well-positioned to thrive as nuclear SMR demand gains global momentum. Other Stocks Warranting a Look GEV apart, other companies like NuScale Power SMR and BWX Technologies BWXT also stand to benefit from the expanding integration of nuclear energy in the global clean energy mix. Notably, NuScale Power is actively developing and pursuing the deployment of small modular reactors, specifically its NuScale Power Module ('NPM') design. In May 2025, the company received design approval from the U.S. Nuclear Regulatory Commission for its uprated 250 MWt (77 MWe) NPM. On the other hand, BWX Technologies plays a critical role in the development and deployment of small module reactors and microreactors. In January 2025, the company secured a contract to manufacture the reactor pressure vessel for GE Hitachi's BWRX-300 SMR. The Zacks Rundown for GEV Shares of GE Vernova have surged a solid 238.4% in the past year, outperforming the industry' s 53.3% gain. From a valuation standpoint, GEV is currently trading at a forward 12-month price-to-earnings (P/E) of 57.52X, representing a roughly 175.3% premium compared to the industry average of 20.89X. The Zacks Consensus Estimate for GEV's 2025 and 2026 sales suggests a year-over-year improvement of 6.4% and 10%, respectively. The near-term bottom-line estimate for the company has moved north over the past 60 days. GEV currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BWX Technologies, Inc. (BWXT): Free Stock Analysis Report NuScale Power Corporation (SMR): Free Stock Analysis Report GE Vernova Inc. (GEV): Free Stock Analysis Report This article originally published on Zacks Investment Research (
The Sun
6 days ago
- Business
- The Sun
Malaysia boosts green tech and deep-tech investments for sustainable growth
KUALA LUMPUR: Malaysia is intensifying efforts to attract high-impact investments in green technology and deep-tech sectors, aligning with the MADANI government's sustainability and digital transformation goals. Science, Technology and Innovation Minister Chang Lih Kang highlighted the country's focus on carbon management, hydrogen energy, and circular economy models to accelerate its low-carbon transition. The government is also exploring advanced nuclear technologies, including Small Modular Reactors (SMRs), to support decarbonisation while boosting high-value R&D and skilled talent development. 'Malaysia is positioning itself as a regional hub for advanced materials, especially rare earth elements (REE), crucial for green technologies and digital industries,' Chang said at the National Economic Forum 2025. Private-sector R&D investment has surged by 17% in 2024, particularly in clean energy and digital health, signaling growing investor confidence. To sustain this momentum, Malaysia is introducing measures such as matching grants and co-investment models to de-risk deep-tech investments. Under the National Biotechnology Policy (DBN 2.0), Malaysia is advancing biotechnology responsibly, addressing ethical concerns like cultured meat production through upcoming guidelines. The policy also aims to strengthen biopharmaceuticals, industrial biotech, and agricultural biotech, positioning Malaysia as a regional bio-based hub. The forum, themed 'Turning Strategy into Reality,' serves as a platform for discussions on economic resilience and investor confidence amid global challenges. It underscores Malaysia's commitment to fostering innovation, inclusivity, and sustainable growth. - Bernama
