A no-nonsense overview from Investor's Business Daily, June 26:
Three massive C-17 Globemaster aircraft flew out of Southern California in February hauling an experimental 5-megawatt nuclear reactor, disassembled into three pieces, to Utah for testing. On June 18, the Department of Energy announced the eagerly anticipated results.
The microreactor, it said, had become the second advanced nuclear technology to reach "criticality" — an independently sustained nuclear reaction. That put the industry in spitting distance of the Trump administration's goal of three successful criticality tests by July 4.
Now, as that target date looms in the coming week, all eyes are on the third test, involving Santa Clara, Calif.-based Oklo's (OKLO) Groves microreactor. If, as many observers expect, it succeeds, the industry will take a big step forward in earning credibility for the innovative reactors. The new technologies promise independent electrical power generation for everything from remote military bases to massive AI data center campuses.
Though not necessarily less expensive to operate, they pledge to be faster and cheaper to build than full-scale nuclear power plants. And they could propel growth of a long list of companies developing nuclear technologies, ranging from small privately held startups to publicly traded nuclear stocks.
Energy Demand Growing At Full Tilt
"The demand for energy is growing so rapidly right now, above historical norms, that it is forcing people to choose nuclear power," said Erik Nygaard, who leads research and engineering for BWX Technologies' (BWXT) advanced technologies unit, which is working on a microreactor and next-gen nuclear fuels.Advanced nuclear technologies, primarily microreactors and small modular reactors, or SMRs, are still in the experimental stages. None are in commercial operation in the U.S. Some forecasts see commercial viability sometime next year, though other nuclear experts see those views as far too optimistic.
The July 4 target for successful tests, set out in a May 2025 White House order, reflects the Trump administration's push to expand the nation's energy system. Leading hyperscalers, including Meta Platforms (META), Alphabet (GOOGL) and Amazon (AMZN), have backed the industry's development with major investments.
Among the nuclear stocks in the spotlight are SMR developers Oklo and X-Energy (XE), as well as BWX Technologies and NuScale Power (SMR). All are vying to bring the first small reactors out of development and into commercial operation.
GE Vernova (GEV) also is developing SMR technology through its GE Vernova Hitachi Nuclear Energy venture with Japan's Hitachi (HTHIY). Through Global Nuclear Fuel, another joint venture, Hitachi and GE Vernova also control a large piece of the industry's nuclear fuel production.
Trump's July 4 SMR Reactor Criticality Test Deadline
The latest advances in small modular reactors show strides across fuels, coolants and housing designs. In a sign of progress, the focus is now shifting from innovation to deployment.The first criticality success came from Torrance, Calif.-based startup Antares. It achieved the goal a month ahead of schedule, on June 4, at the Department of Energy's Idaho National Laboratory.
A DOE statement touted the Antares test as "one of the most significant technological achievements in nuclear energy in over 40 years." It said the test confirmed that "the reactor can operate safely and establishes a basis that would allow subsequent reactors to produce electricity in 2027."
The Antares test used advanced fuel supplied by BWX Technologies. Antares now says it's targeting the first advanced reactor operating in the U.S. by 2027, and commercial deployments in 2028....
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