Nuclear power is utterly remarkable. Despite popular opinion, it is one of the safest and lowest carbon forms of energy. It is also one of the few on-demand forms of low-carbon energy. As such, it will be a crucial technology as we transition to net-zero. However, the nuclear industry faces a massive problem: it costs too much. New nuclear power plants cost tens of billions of dollars and take well over a decade to build, and once built, the energy they produce is some of the most expensive on the market. This has led many governments and energy providers to distance themselves from this planet-saving technology. But a new type of reactor called an SMR promises to solve all of these issues and kick-start a nuclear renaissance, saving the nuclear industry. However, a pioneering SMR project has just been cancelled because costs are ballooning out of control. So, the question has to be asked: is the future of nuclear energy doomed? Possibly not.

Let’s start at the beginning: what is an SMR? SMR stands for Small Modular Reactor. Typical nuclear power plants have several enormous custom-built reactors. These are incredibly complex and must be carefully and accurately assembled on-site. This skyrockets the construction cost and deployment time. SMRs solve this by using reactors small enough to be fully assembled off-site in a controlled factory and then shipped to the location. These reactors produce less power, so you need more of them, generally over 10, to make a power plant. However, the overall cost of these reactors per MW of power should be far cheaper than regular reactors, as the factory can use economies of scale to lower prices. Deployment should also be far quicker, as reactors can be built ahead of time, and their small nature and controlled production facility make construction far quicker. There is even a flexibility advantage, as an SMR plant can add or remove reactors quickly to better meet demand. Ordinary reactors take decades and billions of dollars to expand their output.

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Several companies are pioneering SMR technology. But, the company spearheading the SMR movement is…

Nuclear power is utterly remarkable. Despite popular opinion, it is one of the safest and lowest carbon forms of energy. It is also one of the few on-demand forms of low-carbon energy. As such, it will be a crucial technology as we transition to net-zero. However, the nuclear industry faces a massive problem: it costs too much. New nuclear power plants cost tens of billions of dollars and take well over a decade to build, and once built, the energy they produce is some of the most expensive on the market. This has led many governments and energy providers to distance themselves from this planet-saving technology. But a new type of reactor called an SMR promises to solve all of these issues and kick-start a nuclear renaissance, saving the nuclear industry. However, a pioneering SMR project has just been cancelled because costs are ballooning out of control. So, the question has to be asked: is the future of nuclear energy doomed? Possibly not.

Let’s start at the beginning: what is an SMR? SMR stands for Small Modular Reactor. Typical nuclear power plants have several enormous custom-built reactors. These are incredibly complex and must be carefully and accurately assembled on-site. This skyrockets the construction cost and deployment time. SMRs solve this by using reactors small enough to be fully assembled off-site in a controlled factory and then shipped to the location. These reactors produce less power, so you need more of them, generally over 10, to make a power plant. However, the overall cost of these reactors per MW of power should be far cheaper than regular reactors, as the factory can use economies of scale to lower prices. Deployment should also be far quicker, as reactors can be built ahead of time, and their small nature and controlled production facility make construction far quicker. There is even a flexibility advantage, as an SMR plant can add or remove reactors quickly to better meet demand. Ordinary reactors take decades and billions of dollars to expand their output.

** Quick interruption, if you want more from me, or interact with me, go follow me on Bluesky**

Several companies are pioneering SMR technology. But, the company spearheading the SMR movement is…