Core Insights - Trump's executive orders on nuclear power could facilitate the deployment of small modular reactors (SMRs) in the U.S. by late 2030, according to GE Vernova CEO Scott Strazik [1][3] - The Nuclear Regulatory Commission (NRC) has been directed to expedite the approval process for new nuclear plants, addressing long-standing industry complaints about delays [2][3] Industry Developments - The executive order may lead to approvals for constructing SMRs in the U.S. by 2027, potentially adding these reactors to the nuclear fleet by 2030 or 2031 [3] - SMRs are considered the future of nuclear power, with advantages such as lower construction costs and faster assembly compared to large nuclear plants, which have faced significant cost overruns and delays [4] Company Updates - GE Vernova has received approval to deploy its BWRX-300 reactor in Ontario, Canada, marking the first SMR deployment in the West [6] - The Tennessee Valley Authority has filed an application with the NRC to build a GE Vernova reactor in Oak Ridge, Tennessee [6] - Customer interest in GE Vernova's SMR technology is high, with expectations for more applications to construct new SMRs by the end of the year [7] - The company's core business in manufacturing and servicing natural gas-powered turbines is experiencing high demand, contributing to a nearly 48% increase in stock value this year [7]
Trump nuclear power orders could open small reactors in the U.S. by 2030, GE Vernova CEO says