1
Country: USA | Funding: $60M
Bluecore Energy builds compact, zero-emission small modular nuclear reactors on floating barges. Its aim is to provide clean power to ports and nearby infrastructure. The barges can be moved by ship to next location, reducing the emission involved in its transport to zero. The system is water-cooled in a closed-loop - it only needs to be refueled once every few years. The goal is to try to power the “equivalent of approximately 15,000 homes or scale to meet the power needs of a major port. The startup is building many layers of safety, like having the uranium clad and protected in a thick steel pressure vessel and then padded with concrete shielding and steel lining.
Bluecore Energy builds compact, zero-emission small modular nuclear reactors on floating barges. Its aim is to provide clean power to ports and nearby infrastructure. The barges can be moved by ship to next location, reducing the emission involved in its transport to zero. The system is water-cooled in a closed-loop - it only needs to be refueled once every few years. The goal is to try to power the “equivalent of approximately 15,000 homes or scale to meet the power needs of a major port. The startup is building many layers of safety, like having the uranium clad and protected in a thick steel pressure vessel and then padded with concrete shielding and steel lining.
2
Country: Sweden | Funding: $57.3M
Blykalla is developing and building small modular lead-cooled fast reactor. Its design is based on 25+ years of research. It's a passively safe reactor designed for commercial power production in a highly compact format. Its fuel is never replaced during operation, which minimizes costs related to fuel management. The integrity of steel surfaces exposed to liquid lead is ensured by use of alumina forming alloys. Passive safety is ensured by removal of decay heat from the core by natural convection of the lead coolant. The startup has submitted Sweden's first application to build an advanced nuclear reactor park at Norrsundet. Together, the reactors will deliver around 330 MW of clean baseload power.
Blykalla is developing and building small modular lead-cooled fast reactor. Its design is based on 25+ years of research. It's a passively safe reactor designed for commercial power production in a highly compact format. Its fuel is never replaced during operation, which minimizes costs related to fuel management. The integrity of steel surfaces exposed to liquid lead is ensured by use of alumina forming alloys. Passive safety is ensured by removal of decay heat from the core by natural convection of the lead coolant. The startup has submitted Sweden's first application to build an advanced nuclear reactor park at Norrsundet. Together, the reactors will deliver around 330 MW of clean baseload power.
3
Country: USA | Funding: $31.5M
Apollo Atomics intends to create a water nuclear reactor (from 10 to 300MW) and is rethinking the way thermal energy is converted into electricity. The startup has managed to shrink the steam generator and make the whole system way more compact than any other reactor in the market. With the compactness of the generator in mind, Apollo plans on assembling the reactor and steam generator in a factory rather than on site, which is the case with nuclear power plants today. Apollo has already built a small, 40-kilowatt reactor with MIT to demonstrate the technology. It plans to deploy the first commercial power plant in 2028 and generate electricity at a rate of 3 cents per kilowatt hour.
Apollo Atomics intends to create a water nuclear reactor (from 10 to 300MW) and is rethinking the way thermal energy is converted into electricity. The startup has managed to shrink the steam generator and make the whole system way more compact than any other reactor in the market. With the compactness of the generator in mind, Apollo plans on assembling the reactor and steam generator in a factory rather than on site, which is the case with nuclear power plants today. Apollo has already built a small, 40-kilowatt reactor with MIT to demonstrate the technology. It plans to deploy the first commercial power plant in 2028 and generate electricity at a rate of 3 cents per kilowatt hour.
4
Country: USA | Funding: $1.7B
X-energy produces the Xe-100 - small modular nuclear reactor. It is a fourth-generation, 80-megawatt high-temperature gas-cooled reactor (HTGR), boasting (according to the company) high stability, efficiency, reliability and safety. The reactor can be scaled into 4-pack power plant thanks to its modular design. Its construction maximizes the use of off-the-shelf components, that can be delivered to the site using existing road and rail routes. The reactor does not rely on any active systems, electrical power or human intervention for safety, i.e. it shuts down and dissipates heat passively (as a result of the low power density). X-energy also produces TRISO-X fuel, which can withstand extreme temperatures. The company also aims to produce power systems for lunar bases.
X-energy produces the Xe-100 - small modular nuclear reactor. It is a fourth-generation, 80-megawatt high-temperature gas-cooled reactor (HTGR), boasting (according to the company) high stability, efficiency, reliability and safety. The reactor can be scaled into 4-pack power plant thanks to its modular design. Its construction maximizes the use of off-the-shelf components, that can be delivered to the site using existing road and rail routes. The reactor does not rely on any active systems, electrical power or human intervention for safety, i.e. it shuts down and dissipates heat passively (as a result of the low power density). X-energy also produces TRISO-X fuel, which can withstand extreme temperatures. The company also aims to produce power systems for lunar bases.
5
Country: USA | Funding: $1.5B
TerraPower is developing compact modular nuclear reactors with a closed fuel cycle. Its goal is to make nuclear energy safer and cheaper, while also minimizing radioactive waste. It was co-founded by Bill Gates and partners with GE Hitachi Nuclear Energy. Its fast-neutron reactor Natrium has capacity up to 345 MW and includes molten salt heat storage system. Its advantage is its flexible power output, allowing it to respond to fluctuating demand when combined with renewable energy sources. To ramp quickly, it doesn’t increase or decrease the power output - the extra heat gets stored in a giant vat of molten salt. It uses liquid sodium as a coolant and highly enriched uranium (HALEU) as fuel (for now the company is experiencing supply issues). The demonstration reactor project is expected to be operational by 2030.
TerraPower is developing compact modular nuclear reactors with a closed fuel cycle. Its goal is to make nuclear energy safer and cheaper, while also minimizing radioactive waste. It was co-founded by Bill Gates and partners with GE Hitachi Nuclear Energy. Its fast-neutron reactor Natrium has capacity up to 345 MW and includes molten salt heat storage system. Its advantage is its flexible power output, allowing it to respond to fluctuating demand when combined with renewable energy sources. To ramp quickly, it doesn’t increase or decrease the power output - the extra heat gets stored in a giant vat of molten salt. It uses liquid sodium as a coolant and highly enriched uranium (HALEU) as fuel (for now the company is experiencing supply issues). The demonstration reactor project is expected to be operational by 2030.
6
Country: UK | Funding: $677.1M
Newcleo develops small modular reactor that uses MOX fuel technology to reprocess spent uranium from conventional nuclear power plants. The 200 MW reactor uses lead as a coolant. It's an ultra-compact module with improved energy density compared to other technologies. The company also produces FR-MOX fuel (Fast Reactors Mixed Pu-U Oxides) which consists of depleted uranium (a byproduct of the enrichment process in modern reactors) and plutonium (which is extracted from spent nuclear fuel). Thus it intends to close the fuel cycle and avoid mining. Newcleo plans to install the first 30 MW lead-cooled fast reactor in France by the end of 2033.
Newcleo develops small modular reactor that uses MOX fuel technology to reprocess spent uranium from conventional nuclear power plants. The 200 MW reactor uses lead as a coolant. It's an ultra-compact module with improved energy density compared to other technologies. The company also produces FR-MOX fuel (Fast Reactors Mixed Pu-U Oxides) which consists of depleted uranium (a byproduct of the enrichment process in modern reactors) and plutonium (which is extracted from spent nuclear fuel). Thus it intends to close the fuel cycle and avoid mining. Newcleo plans to install the first 30 MW lead-cooled fast reactor in France by the end of 2033.
7
Country: USA | Funding: $469.6M
NuScale Power has developed small modular reactor NPM, that was the first (during last 20 years) to receive design approval from the U.S. Nuclear Regulatory Commission. NPM design is based on proven pressurized water reactor technology and was developed to power power plants, district heating, desalination and industrial hydrogen production. The 77-megawatt reactor weighs 700 tons, allowing it to be shipped from the factory in three sections by truck, rail or barge. NuScale, in partnership with TVA and ENTRA1 Energy, is implementing a pioneering 6-GW SMR program to provide reliable, carbon-free electricity for the future of the seven-state TVA region. The company also established the Energy Research Center - an innovative educational environment offering users hands-on opportunities to apply nuclear science and engineering principles to simulated, real-world nuclear power plant scenarios.
NuScale Power has developed small modular reactor NPM, that was the first (during last 20 years) to receive design approval from the U.S. Nuclear Regulatory Commission. NPM design is based on proven pressurized water reactor technology and was developed to power power plants, district heating, desalination and industrial hydrogen production. The 77-megawatt reactor weighs 700 tons, allowing it to be shipped from the factory in three sections by truck, rail or barge. NuScale, in partnership with TVA and ENTRA1 Energy, is implementing a pioneering 6-GW SMR program to provide reliable, carbon-free electricity for the future of the seven-state TVA region. The company also established the Energy Research Center - an innovative educational environment offering users hands-on opportunities to apply nuclear science and engineering principles to simulated, real-world nuclear power plant scenarios.
8
Country: USA | Funding: $164M
Last Energy builds small modular nuclear reactors that can be mass-produced. The company uses an older 20 MW PWR-reactor design developed by the government for a merchant ship. The reactor is designed to operate without maintenance for its entire service life. It will be delivered to site in an all-metal vessel with a six-year supply of uranium. Heat from fission reactions heats the steel and water flowing through pipes outside uses this heat to spin a steam turbine. At the end of its service life, the steel vessel will serve as a waste container, eliminating the need for separate disposal. The company hopes that this approach, combined with advances in manufacturing, will lead to lower cost of nuclear energy. It is currently building a 5-megawatt pilot reactor while the production of a 20-megawatt commercial reactor is scheduled to begin in 2028.
Last Energy builds small modular nuclear reactors that can be mass-produced. The company uses an older 20 MW PWR-reactor design developed by the government for a merchant ship. The reactor is designed to operate without maintenance for its entire service life. It will be delivered to site in an all-metal vessel with a six-year supply of uranium. Heat from fission reactions heats the steel and water flowing through pipes outside uses this heat to spin a steam turbine. At the end of its service life, the steel vessel will serve as a waste container, eliminating the need for separate disposal. The company hopes that this approach, combined with advances in manufacturing, will lead to lower cost of nuclear energy. It is currently building a 5-megawatt pilot reactor while the production of a 20-megawatt commercial reactor is scheduled to begin in 2028.
9
Country: France
Calogena designs and develops water-based 30MW small modular reactor systems for district heating networks. The low-pressure, low-temperature operation, the direct use of heat and the very limited number of auxiliary systems make the concept intrinsically simpler and safer than any reactor currently in operation or planned. Calogena is a subsidiary of Gorgé industrial Group.
Calogena designs and develops water-based 30MW small modular reactor systems for district heating networks. The low-pressure, low-temperature operation, the direct use of heat and the very limited number of auxiliary systems make the concept intrinsically simpler and safer than any reactor currently in operation or planned. Calogena is a subsidiary of Gorgé industrial Group.
10
Country: Canada | Funding: $66M
ARC is a clean energy technology company developing the ARC-100, an advanced small modular reactor offering safe, reliable, and economical power. Built on the EBR-II, which ran for over 30 years at Idaho National Laboratory, the ARC-100 is factory-fabricated and modular, delivering firm baseload power ideally matched for data center and industrial users. It's a liquid sodium fast reactor that theoreticlly enables a future closed fuel cycle with 99% fuel utilization. In any loss-of-power or loss-of-cooling scenario, the reactor shuts itself down through natural physics: thermal expansion of the fuel and coolant inserts negative reactivity, and natural convection of the sodium removes decay heat indefinitely. ARC is a U.S. Department of Energy Advanced Reactor Demonstration Program awardee advancing first U.S. deployment, with additional international deployment underway in Canada and Türkiye.
ARC is a clean energy technology company developing the ARC-100, an advanced small modular reactor offering safe, reliable, and economical power. Built on the EBR-II, which ran for over 30 years at Idaho National Laboratory, the ARC-100 is factory-fabricated and modular, delivering firm baseload power ideally matched for data center and industrial users. It's a liquid sodium fast reactor that theoreticlly enables a future closed fuel cycle with 99% fuel utilization. In any loss-of-power or loss-of-cooling scenario, the reactor shuts itself down through natural physics: thermal expansion of the fuel and coolant inserts negative reactivity, and natural convection of the sodium removes decay heat indefinitely. ARC is a U.S. Department of Energy Advanced Reactor Demonstration Program awardee advancing first U.S. deployment, with additional international deployment underway in Canada and Türkiye.
11
Country: Netherlands | Funding: €42.5M
Thorizon is building a molten salt modular reactor that will use long-lived nuclear waste in combination with thorium as fue. It was founded as a spin-off from the Netherlands’ national nuclear research institute, where molten salt technology was developed quietly for decades. The reactor will use nuclear waste as fuel and provide both power and high‑temperature heat with sufficient safety. Thorizon’s patented cartridges divide the reactor core into smaller modules, unlocking the benefits of off-site series production and modular scalability. Easy to operate, move, and deploy, these cartridges make building reactors faster and more flexible than ever. The first plant construction will start in the early 2030s.
Thorizon is building a molten salt modular reactor that will use long-lived nuclear waste in combination with thorium as fue. It was founded as a spin-off from the Netherlands’ national nuclear research institute, where molten salt technology was developed quietly for decades. The reactor will use nuclear waste as fuel and provide both power and high‑temperature heat with sufficient safety. Thorizon’s patented cartridges divide the reactor core into smaller modules, unlocking the benefits of off-site series production and modular scalability. Easy to operate, move, and deploy, these cartridges make building reactors faster and more flexible than ever. The first plant construction will start in the early 2030s.
12
Country: Denmark | Funding: $33.6M
Copenhagen Atomics is developing thorium molten salt reactor technology, with a focus on low electricity prices and fast installation. Its first test reactor (planned for 2028) and first commercial reactors (planned for 2030s) will run on 5% enriched uranium as fuel salt and thorium as blanket salt. With high enriched Li7 for optimal neutron economy, CAs reactors will have better neutron economy than any other reactor ever designed or build (according to the startup). The first reactors will not be breeder reactors, meaning that they will generate more fissile fuel than they consume. But they will have breeding ratio approaching 1. In the long term CA wishes to make thorium breeder reactors in the thermal spectrum (slow neutrons). CA has also invented the Onion Core technology, enabling a compact reactor that can be mass-manufactured efficiently while requiring only a small amount of materials.
Copenhagen Atomics is developing thorium molten salt reactor technology, with a focus on low electricity prices and fast installation. Its first test reactor (planned for 2028) and first commercial reactors (planned for 2030s) will run on 5% enriched uranium as fuel salt and thorium as blanket salt. With high enriched Li7 for optimal neutron economy, CAs reactors will have better neutron economy than any other reactor ever designed or build (according to the startup). The first reactors will not be breeder reactors, meaning that they will generate more fissile fuel than they consume. But they will have breeding ratio approaching 1. In the long term CA wishes to make thorium breeder reactors in the thermal spectrum (slow neutrons). CA has also invented the Onion Core technology, enabling a compact reactor that can be mass-manufactured efficiently while requiring only a small amount of materials.
13
Country: Denmark | Funding: $28.4M
Saltfoss is developing a compact modular reactor based on molten fluoride salt (CMSR), installed on a floating power plant. This power plant will be able to produce up to 800 MW whenever and wherever needed, supporting variable renewable energy generation on windless, cloudy days. In the CMSR, fuel is mixed with molten fluoride salt, which also serves as a coolant. This provides significant safety advantages. Unlike conventional nuclear reactors, the Saltfoss reactor operates at near-atmospheric pressure, eliminating a wide range of accident scenarios. At the end of the 24-year fuel cycle, the fuel will be returned to the supplier, where the short-lived fission products are separated and stored.
Saltfoss is developing a compact modular reactor based on molten fluoride salt (CMSR), installed on a floating power plant. This power plant will be able to produce up to 800 MW whenever and wherever needed, supporting variable renewable energy generation on windless, cloudy days. In the CMSR, fuel is mixed with molten fluoride salt, which also serves as a coolant. This provides significant safety advantages. Unlike conventional nuclear reactors, the Saltfoss reactor operates at near-atmospheric pressure, eliminating a wide range of accident scenarios. At the end of the 24-year fuel cycle, the fuel will be returned to the supplier, where the short-lived fission products are separated and stored.
14
Country: France | Funding: €19.5M
Otrera is making modern fast neutron reactor (FNR) rethinking its core design decisions to make it simple, safe, and cost-competitive. Its concept is based on a compact, modular loop-type architecture, drawing inspiration from proven LWR principles. It features three alternating reactor vessels: two in operation and one in cooling. This configuration allows for in-vessel fuel cooling, eliminating the need for separate storage pools—a major cost-saving innovation. The project is designed to reduce or even eliminate the traditional limitations of sodium technology and allows to simplify the reactor’s overall architecture, shrink the size of components and supporting infrastructure. Otrera’s modular design relies on standardized components, enabling a range of reactors from 30 to 450 MWe while significantly cutting costs and qualification timelines.
Otrera is making modern fast neutron reactor (FNR) rethinking its core design decisions to make it simple, safe, and cost-competitive. Its concept is based on a compact, modular loop-type architecture, drawing inspiration from proven LWR principles. It features three alternating reactor vessels: two in operation and one in cooling. This configuration allows for in-vessel fuel cooling, eliminating the need for separate storage pools—a major cost-saving innovation. The project is designed to reduce or even eliminate the traditional limitations of sodium technology and allows to simplify the reactor’s overall architecture, shrink the size of components and supporting infrastructure. Otrera’s modular design relies on standardized components, enabling a range of reactors from 30 to 450 MWe while significantly cutting costs and qualification timelines.
15
Country: USA | Funding: $5.5M
Transatomic Power is a nuclear reactor design company offering a waste-annihilating molten salt reactor. Its fueled by uranium dissolved in a liquid salt. The fuel is not surrounded by cladding, making it possible to continuously remove the fission products that would otherwise stop the nuclear reaction. Its design uses a zirconium hydride moderator, which is much more effective at slowing down neutrons than graphite. Instead of classic lithium fluoride and beryllium fluoride salt it uses lithium fluoride – uranium fluoride salt, which can hold about 27 times as much uranium. Having more uranium in the salt, coupled with having more salt in the core, enables to maintain criticality using commercially-available low-enriched uranium (5%).
Transatomic Power is a nuclear reactor design company offering a waste-annihilating molten salt reactor. Its fueled by uranium dissolved in a liquid salt. The fuel is not surrounded by cladding, making it possible to continuously remove the fission products that would otherwise stop the nuclear reaction. Its design uses a zirconium hydride moderator, which is much more effective at slowing down neutrons than graphite. Instead of classic lithium fluoride and beryllium fluoride salt it uses lithium fluoride – uranium fluoride salt, which can hold about 27 times as much uranium. Having more uranium in the salt, coupled with having more salt in the core, enables to maintain criticality using commercially-available low-enriched uranium (5%).
16
Country: Canada | Funding: $2.8M
Prodigy Clean Energy is advancing its Transportable Nuclear Power Plant technology as critical enabling infrastructure to deploy SMRs in remote regions. Prodigy’s TNPPs can package, transport and deploy any reactor, allowing end-users to customize facilities by gross power output and energy type. Multiple SMR modules can be packaged within the facility to reach target capacity ranging from ~5MWe to ~1GWe. After fabrication, outfitting, and transport to the deployment location, Prodigy TNPPs are secured to site-based infrastructure. The result is a completely self-sufficient nuclear generating facility rapidly commissioned and put into service.
Prodigy Clean Energy is advancing its Transportable Nuclear Power Plant technology as critical enabling infrastructure to deploy SMRs in remote regions. Prodigy’s TNPPs can package, transport and deploy any reactor, allowing end-users to customize facilities by gross power output and energy type. Multiple SMR modules can be packaged within the facility to reach target capacity ranging from ~5MWe to ~1GWe. After fabrication, outfitting, and transport to the deployment location, Prodigy TNPPs are secured to site-based infrastructure. The result is a completely self-sufficient nuclear generating facility rapidly commissioned and put into service.
17
Country: USA | Funding: $2.5M
FANCO was founded by a team of nuclear energy veterans led by Bill Stokes, who have implemented some of the most advanced nuclear projects in US history. Their 240 MW EAGL-1 reactor is a modular and reliable reactor based on proven low-pressure fast reactor technology, optimized for modern energy needs. It uses safe and environmentally friendly lead-bismuth coolant and operates in the fast neutron spectrum, extracting more energy from fuel and reducing waste for a cleaner future. The EAGL-1's optimized design eliminates the need for expensive intermediate systems and containment vessels, reduces mechanical complexity, and improves overall system reliability. That means the potential for faster deployment and dramatically lower front-end fuel cycle costs. FANCO plans to build its own Nuclear Plant Powered by Its Own Waste in Indiana by 2032.
FANCO was founded by a team of nuclear energy veterans led by Bill Stokes, who have implemented some of the most advanced nuclear projects in US history. Their 240 MW EAGL-1 reactor is a modular and reliable reactor based on proven low-pressure fast reactor technology, optimized for modern energy needs. It uses safe and environmentally friendly lead-bismuth coolant and operates in the fast neutron spectrum, extracting more energy from fuel and reducing waste for a cleaner future. The EAGL-1's optimized design eliminates the need for expensive intermediate systems and containment vessels, reduces mechanical complexity, and improves overall system reliability. That means the potential for faster deployment and dramatically lower front-end fuel cycle costs. FANCO plans to build its own Nuclear Plant Powered by Its Own Waste in Indiana by 2032.
18
Country: India
IYNS TechSolutions develops 10 MWe / 30 MWth molten salt micro-reactor SUK‑M that runs on thorium. It is intended to use for hydrogen production, industrial heating, desalination, etc.
IYNS TechSolutions develops 10 MWe / 30 MWth molten salt micro-reactor SUK‑M that runs on thorium. It is intended to use for hydrogen production, industrial heating, desalination, etc.
19
Country: Sweden
Kärnfull Next specializes in small modular reactor (SMR) project development for next-generation nuclear power in Scandinavia. Acquired by Studsvik
Kärnfull Next specializes in small modular reactor (SMR) project development for next-generation nuclear power in Scandinavia. Acquired by Studsvik
