Following on the post immediately below: "Japan names specific projects for US$550b US investment" (CCJ; BN; GEV; 6501:TYO), a press release from Cameco, October 28:
- At least $80 billion to construct new Westinghouse nuclear power reactors
- Partnership will accelerate nuclear power and artificial intelligence deployment in America
—All values are USD
TOKYO & CRANBERRY, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company (“Westinghouse”), Cameco Corporation (“Cameco”) and Brookfield Asset Management (“Brookfield”) today announced that the United States Government (“U.S. Government”) has entered into a strategic partnership to accelerate the deployment of nuclear power, in accordance with the President’s May 23, 2025 Executive Orders.
At the center of the new strategic partnership, at least $80 billion of new reactors will be constructed across the United States using Westinghouse nuclear reactor technology. These new reactors will reinvigorate the nuclear power industrial base.
As a result of this historic agreement, nuclear energy deployment will be a central pillar of America’s program to maintain global leadership in nuclear power development and Artificial Intelligence (“AI”).
Howard Lutnick, Secretary for the United States Department of Commerce, said:
“Our administration is focussed on ensuring the rapid development, deployment, and use of advanced nuclear technologies. This historic partnership supports our national security objectives and enhances our critical infrastructure. Together with Westinghouse we will unleash American energy. This partnership embodies the bold vision of President Trump – to rebuild our energy sovereignty, create high-paying jobs, and drive America to the forefront of the nuclear renaissance.”
Chris Wright, Secretary for the United States Department of Energy, said:
“This historic partnership with America’s leading nuclear company will help unleash President Trump’s grand vision to fully energize America and win the global AI race. President Trump promised a renaissance of nuclear power, and now he is delivering.”
Connor Teskey, President of Brookfield Asset Management, said:
“This partnership with the U.S. Government will help unlock the potential that Westinghouse and nuclear energy can play to accelerate the growth of artificial intelligence in the United States, while meeting growing electricity demand and energy security needs at scale. Brookfield has more than half a trillion dollars invested in the critical infrastructure that underpins the U.S. economy, and we expect to double that investment in the next decade as we deliver on building the infrastructure backbone of artificial intelligence.”
Tim Gitzel, CEO of Cameco, said:
“Our highly successful partnership with Brookfield as owners of Westinghouse will be further strengthened through this collaboration with the U.S. Government. We expect this new partnership to support the global growth opportunities for both Westinghouse’s and Cameco’s nuclear products, services and technologies, adding significant long-term value for our stakeholders and enhancing energy, national and climate security around the world. As a strategic partner, Cameco is a secure and reliable western-based supplier of the uranium fuel needed to support the civilian deployment and long-term reliable operation of Westinghouse’s technology in the U.S. and globally.”....
....MUCH MORE
