How GE Vernova plans to deploy small nuclear reactors across the developed world

Core Viewpoint - GE Vernova aims to lead in the deployment of small modular reactors (SMRs) to meet rising electricity demand and reduce carbon emissions over the next decade [1][3]. Company Overview - GE Vernova is a spinoff from General Electric's former energy business, with its stock more than doubling since its NYSE listing in April 2023, indicating strong investor confidence in its role in the future power industry [2]. Market Potential - The U.S. government plans to triple nuclear power by 2050 to support an electric grid facing increasing demand, while large nuclear projects have historically faced significant budget and timeline challenges [3]. - GE Vernova's SMR, the BWRX-300, is designed to be more cost-effective, with construction costs estimated between $2 billion to $4 billion, compared to $10 billion to $15 billion for larger plants [4]. Technical Specifications - The BWRX-300 generates 300 megawatts of electricity, sufficient to power over 200,000 U.S. households, and offers flexibility in deployment locations [5]. - The modular design allows for multiple reactors to be installed at a single site, providing operational flexibility and potential for increased output [6]. Revenue Goals - GE Vernova targets over $2 billion in annual revenue from its small reactor business by the mid-2030s, with a projected demand for up to 57 small reactors in the U.S., Canada, the UK, and Europe by 2035 [7]. - To achieve this revenue target, the company would need to ship three to four reactors annually, potentially capturing a 33% market share in its target markets [8]. Strategic Partnerships - GE Vernova has signed a collaboration agreement to invest $500 million with Ontario Power Generation, Tennessee Valley Authority, and Synthos Green Energy to advance the BWRX-300 [9]. - The company is also engaging with major tech firms interested in nuclear power to meet energy demands from AI data centers [9]. Deployment Plans - GE Vernova secured its first commercial contract in North America for an SMR with Ontario Power in January 2023, marking a significant milestone in the deployment of SMRs in the developed world [12]. - The first reactor is expected to be operational by 2029, with plans for additional reactors at the same site [12].