GE Vernova, a spinoff of General Electric, is on a mission to deploy small nuclear reactors globally over the next decade. The company’s small modular reactor, the BWRX-300, is designed to reduce the cost of building new nuclear plants, making nuclear energy more affordable and accessible. This move comes at a time when the U.S. government aims to triple nuclear power by 2050 to meet the increasing electricity demand.
The BWRX-300 has a simpler design with fewer components and construction materials compared to larger nuclear plants, making it more cost-effective. This small reactor is capable of generating 300 megawatts of electricity, which is enough to power over 200,000 households. The flexibility in size and location of these reactors allows for multiple units to be deployed on a single site, providing more energy output and revenue-generating opportunities.
GE Vernova has set ambitious revenue targets for its small reactor business, aiming to generate over $2 billion annually by the mid-2030s. To achieve this goal, the company plans to ship between three to four reactors per year to its target markets in the U.S., Canada, the United Kingdom, and Europe. By collaborating with major utility companies and tech giants interested in nuclear power, GE Vernova is paving the way for the widespread adoption of small modular reactors.
In North America, GE Vernova has already secured commercial contracts to deploy small modular reactors in Ontario and Tennessee. Ontario Power Generation and the Tennessee Valley Authority are among the first to embrace this innovative technology, with plans to launch the BWRX-300 reactors at commercial scale. These initiatives mark significant milestones in the revitalization of nuclear power in developed nations.
The interest from tech companies like Microsoft, Amazon, and Google in supporting nuclear power through power purchase agreements signifies a growing trend of collaboration between utilities and the tech sector. While tech companies may not directly operate nuclear plants, their financial support and commitment to purchasing dedicated power will play a crucial role in driving the deployment of new reactors.
As the demand for electricity continues to rise, especially from artificial intelligence data centers, small nuclear reactors are poised to play a vital role in meeting this growing energy need. With innovative designs, cost-effective solutions, and strategic partnerships, GE Vernova is leading the way in revolutionizing the nuclear energy sector and shaping the future of clean, reliable power generation on a global scale.
