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What is the next chapter for nuclear power?
New reactor technologies, microreactor trials and rising electricity demand could shape nuclear power’s future, as governments and businesses reconsider their role in energy systems worldwide.
Advanced Reactors Reach Important Milestones
In April 2026, privately held TerraPower began full construction of its Natrium plant in Wyoming, following regulatory approval in March. The project is designed around a 345-megawatt advanced reactor, combined with energy storage that could temporarily increase power output to 500 megawatts. It is intended to demonstrate whether newer reactor designs can operate at commercial scale. The reactor is designed to supply power to as many as 400,000 homes when paired with the energy storage system integrated into the reactor design1. Construction, however, is only one stage: the plant will still need further regulatory approval before it can operate.
Progress is also being reported at the smaller end of the market. At the end of June, Deployable Energy’s Unity microreactor achieved criticality at Idaho National Laboratory, following similar milestones for Antares Nuclear and Valar Atomics. “Criticality” means a reactor has achieved a self-sustaining nuclear chain reaction. In Unity’s case, this was a zero-power demonstration, not the start of commercial electricity generation. Nevertheless, the three tests represent steps towards evaluating technologies that could eventually serve smaller or remote energy users2.
Government Support Meets Commercial Demand
Federal financing is another part of the picture. In June, the US Department of Energy announced a conditional $17.5 billion loan commitment intended to support long-lead equipment purchases for as many as ten Westinghouse AP1000 reactors. Whilst the financing remains subject to technical, legal, environmental and financial conditions, it shows a clear indication that the US government is considering nuclear power as a real option for the future of energy3.
Meanwhile, existing nuclear plants are finding new customers. Constellation Energy and Walmart announced a long-term agreement covering approximately 176 megawatts of wholesale nuclear electricity from the Dresden plant in Illinois, including 30 megawatts of planned capacity increases. The two 15-year supply periods are due to begin in 2029 and 2030. The agreement illustrates how established plants could supply major commercial users without requiring an entirely new facility4.
Such deals also suggest that interest in nuclear electricity is not confined to the data centres associated with artificial intelligence. Businesses with substantial, predictable electricity needs are examining long-term sources of generation, although contract announcements do not eliminate delivery or pricing risks.
Investment Is Growing, but Risks Remain
Private investors are also providing capital for emerging technologies. Valar Atomics announced a $1 billion Series B financing in August 20265, while Antares Nuclear reported a $470 million funding round in July6. These are sizeable commitments and provide a promising outlook for nuclear power, but it is important to note fundraising does not demonstrate that a technology will be produced economically or operated profitably.
For investors, while the emerging picture remains somewhat mixed, it nevertheless signals a turning point in how businesses and governments view nuclear power. Reactor demonstrations, construction starts and long-term supply contracts point to activity across several parts of the industry. At the same time, new nuclear projects face potentially substantial construction costs, lengthy development and approval processes, supply-chain constraints and changing government priorities. While these challenges should not be overlooked, neither should the renewed interest in nuclear power as a clean, reliable and powerful source of energy.
The nuclear sector may be entering a period of renewed investment and experimentation. Whether this translates into sustained commercial growth will depend on project delivery, costs and the ability to turn technical achievements into dependable electricity supply.
To explore the developments shaping the nuclear industry, visit HANetf's Nuclear Renaissance page
IMPORTANT INFORMATION
This is a paid advertisement feature for general information, not personal investment advice or a recommendation to buy any security. Investments in nuclear-related companies and sector-focused funds carry risks, including concentration and market volatility. Capital is at risk and investors may get back less than they invest. Past performance is not a reliable indicator of future returns.
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1 https://www.ans.org/news/2026-09-21/article-8417/terrapower-bechtel-part-ways-on-natrium-project/
2 US Department of Energy, “U.S. Department of Energy Meets President Trump’s Goal, Delivers Third Advanced Reactor” (July 2026). View source
3 US Department of Energy, “American Nuclear Supply Chain Loans Overview” (23 June 2026). View source
4 Constellation Energy, “Constellation and Walmart Announce Long-Term Agreement …” (June 2026). View source
5 Valar Atomics, “Announcing Our $1B Series B” (August 2026). View source
6 Antares Nuclear, “Antares Raises $470M Series C to Deploy Nuclear Microreactors” (July 2026). View source
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