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Samsung C&T has agreed to invest up to $100 million in Kairos Power through a combination of direct investment and in-kind engineering services. The deal will support delivery of the Hermes 2 fluoride salt-cooled high-temperature reactor demonstration plant in Oak Ridge, Tennessee. Samsung C&T will also join Kairos Power's integrated engineering, procurement, and construction team, with an initial focus on power generation systems and balance-of-plant scope, and has secured priority rights to perform EPC for Kairos Power's first commercial reactor in the US. Hermes 2 received its construction permit from the NRC in December 2024 and broke ground in April 2026. The 50 MWe grid-connected reactor is designed to demonstrate Kairos Power's KP-FHR technology at commercial scale, reducing technical, licensing, manufacturing, and construction uncertainty for full-size plants that will follow. Samsung C&T has delivered 12 GW of nuclear generating capacity across 10 reactors, including the Barakah plant in the UAE and units at South Korea's Shin Hanul site, and is involved in SMR development projects in Romania, Estonia, Sweden, and Poland. The two companies also agreed to jointly pursue business opportunities in global nuclear markets including South Korea, Southeast Asia, and Europe.

China's Atomic Energy Authority has launched the Global Network for SMR Innovation at the 70th IAEA General Conference in Vienna. The initiative is structured as a non-profit network open to government departments, regulatory bodies, companies, research institutes, and universities, with a governing board, secretariat, and specialized working groups. Its first general assembly is scheduled for later this year. The launch showcased a range of Chinese SMR designs, including the ACP100 currently being commissioned on Hainan Island, the GH300 and GH200T from the Guohe series, the HTR-PM pebble bed high-temperature gas-cooled reactor, and CGN's HuaPeng-1 integral pressurized SMR with a projected 36-month construction timeline. IAEA Deputy Director General Huang Wei welcomed the launch, citing the agency's projection of up to 1,000 SMRs globally by 2060 and describing the network as reinforcing the IAEA's own international cooperation efforts. The initiative signals China's intent to position itself as a standard-setter and global partner in SMR deployment, complementing its aggressive domestic reactor construction program with a multilateral framework for technology sharing and supply chain collaboration.

Italy's landmark nuclear bill is expected to pass the Senate within days, with Energy Minister Gilberto Pichetto Fratin saying the country could be generating nuclear electricity again by 2035. The legislation passed the lower house in June and would establish a legal pathway for new reactors, create an independent nuclear safety authority, set waste management rules, and advance plans for a national radioactive waste repository. Pichetto Fratin cited energy shocks linked to Ukraine and the Persian Gulf as exposing Italy's excessive dependence on foreign supplies, framing nuclear power as a matter of national security. Italy's nuclear plans center on small modular reactors, with Pichetto Fratin suggesting serial production by the end of this decade could enable three to four year construction timelines and generation by 2034 or 2035. Italian utility Enel, equipment maker Ansaldo Energia, and defense group Leonardo have already established a joint venture, Nuclitalia, to assess advanced nuclear technologies, and EDF signed a declaration of intent with Italian industrial partners in June targeting first SMR plants by 2035. Implementing decrees are expected by year end, with industrial partners assessing costs, operators, and sites.

Rolls-Royce SMR has launched a formal Supplier Programme giving UK businesses the opportunity to bid for up to £1.4 billion of contracts over the next year. The initiative supports the Gwyndod SMR project on Anglesey in north Wales, where Rolls-Royce SMR and Great British Energy-Nuclear are targeting more than 70% UK content. The program builds on over £300 million already spent with UK-based suppliers since the company's formation in 2021, representing 88% of total spend to date. It will include workshops, supplier conferences, meet-the-buyer sessions, and expert guidance to help UK businesses enter the civil nuclear sector. Rolls-Royce SMR CEO Chris Cholerton noted the company is the only SMR provider with multiple contractual commitments in Europe and aims to build a supply chain capable of supporting a growing European fleet. UK Business Secretary Jonathan Reynolds said the program is about helping British firms win more of the growing global nuclear market and ensuring economic benefits are distributed across the country.

The European Investment Bank has agreed to invest up to €40 million in Finnish SMR company Steady Energy, marking the EIB's first ever investment in small modular reactor technology. The funding will support research, development, testing, and licensing activities through 2028 as the company moves toward commercial development of its LDR-50 reactor. Steady Energy's LDR-50 is a 50 MW thermal reactor designed specifically for district heating, industrial steam production, and desalination rather than electricity generation, operating at approximately 150°C. The company, spun out of Finland's VTT Technical Research Centre in 2023, has already signed agreements for 15 reactors in Finland and is targeting the start of construction on its first plant in 2029. EIB Vice-President Karl Nehammer said the bank is actively looking to support Europe's most promising SMR developers, framing the investment as part of a broader push to strengthen European energy autonomy and reduce dependence on fossil fuels and volatile energy prices.

Cameco has signed an exclusive offtake agreement to purchase all future production from Global Laser Enrichment's planned Paducah Laser Enrichment Facility in Kentucky. Under the agreement, GLE will receive pricing equivalent to Cameco's average realised price across its long-term contracting portfolio, without needing to establish its own sales and marketing infrastructure. GLE, which is 51% owned by Australian laser enrichment technology inventor Silex Systems and 49% owned by Cameco, completed a full NRC license application for the Paducah facility in July last year and expects to have a license in hand by early 2027. The plant will use SILEX laser enrichment technology and is designed to serve all enrichment markets, including standard low-enriched uranium, LEU+, and high-assay low-enriched uranium.

Blue Energy has submitted the first part of its construction permit application to the NRC for its planned gas-to-nuclear project at the Port of Victoria in Texas, marking the first construction permit application for the project. The submission covers the first nuclear unit at the site and includes a request to begin limited construction activities. Blue Energy plans to begin powering the adjacent Crusoe AI factory campus from 2028 using two GE Vernova gas turbines providing 1 GW, with a transition to up to five BWRX-300 small modular reactors adding a further 1.5 GW by 2031. Blue Energy CEO Jake Jurewicz described the submission as a major step toward proving the company's approach to building nuclear faster and at scale. The company claims that its modular, reactor-agnostic architecture can cut time-to-power by approximately a decade compared to conventional approaches.

State Power Investment Corporation has begun full-scale site leveling work for the first phase of China's Laiyang nuclear power plant in Shandong Province. The initial phase covers two Guohe One (CAP1400) reactors, the first of an eventual six units planned for the site. The CAP1400 is a 1,400 MWe pressurised water reactor developed from Westinghouse's AP1000 design. When all six units are complete, Laiyang will have an installed capacity of approximately 9.26 GW, making it the largest nuclear power base in China by installed capacity, with an annual output of 74 TWh and a district heating capacity exceeding 170 million square metres. SPIC is positioning Laiyang as the first project to implement standardized mass production of the Guohe One design, with the aim of accumulating replicable construction and management experience for large-scale deployment of third-generation nuclear power across China.

Korea Hydro & Nuclear Power and French nuclear fuel cycle company Orano have signed a letter of intent to deepen long-term cooperation in uranium enrichment, building on an earlier memorandum of understanding signed during French President Macron's visit to South Korea in April. KHNP has held a 2.5% stake in Orano's Georges Besse 2 enrichment plant in France since 2009, and the new agreement is expected to expand KHNP's access to Western enrichment sources while strengthening the foundation for Orano's new enrichment projects. KHNP operates 26 reactors generating about one-third of South Korea's electricity and sources enrichment services from Tenex, Urenco, Centrus, and Orano. KHNP CEO Kim Hoe-chun said that amid growing uncertainty in the global nuclear fuel market, proactively securing reliable supply is critical, and that the LOI represents an important opportunity to strengthen fuel supply stability.

Last week, the World Nuclear Association's Finance Summit took place in London. A key narrative through the event was that financial institutions are increasingly seeking out nuclear deals rather than avoiding them, with one senior BNP Paribas banker noting that people are now nervous they haven't done nuclear deals and feel they are missing out on opportunities. The shift marks a significant change from the sector's historically cautious posture toward nuclear project finance. Google's Director of Advanced Energy Technologies Lucia Tian told the summit that Google had received inbounds from over 100 different potential nuclear energy providers in the past year alone, speaking on the same day Google announced its 22-year nuclear power purchase agreement with Finland's Fortum. WNA Director General Sama Bilbao y León framed the summit's purpose as moving the conversation from diagnosing the financing challenge to delivering solutions, noting that the question for nuclear had shifted from whether and why to how and when.

Celebrated architect Norman Foster used a keynote address at the World Nuclear Symposium in London this week to make the case for industrialized micro-modular nuclear reactors as a foundational technology for what he called the "electrical revolution." He argued that small reactors should be coming off production lines like jet engines rather than being treated as niche solutions for remote communities. Foster, 91, described himself as a recent convert to nuclear energy whose entry point was the microreactor, saying he was struck by the realization that a container-sized unit could power a small town or make a large urban development fully autonomous. He drew a comparison to the automobile industry, where high initial costs gave way to mass affordability once production lines were established, and to the telephone exchange system, which was displaced by autonomous mobile and satellite networks. Foster suggested national electricity grids could face a similar disruption as micro-modular reactors enable distributed, self-sufficient power generation. On public perception, Foster acknowledged that most people outside the nuclear industry remain unaware of nuclear's advantages and called the communications challenge a genuine threat to the technology's broader adoption.

Google has announced it will invest at least €13 billion in AI infrastructure in Finland over the next two years. Under the nuclear agreement, Google will purchase up to 50% of the energy output of Fortum's Loviisa nuclear power plant, situated near Google's existing Hamina data center. Fortum said the long-term deal provides economic certainty for a lifetime extension and upgrade of the Loviisa plant through 2050. The two companies will also explore the development of new nuclear and renewable energy in Finland. Fortum shares jumped more than 15% on the announcement, reaching their highest level in four and a half years. Google President and Chief Investment Officer Ruth Porat described the approach as "bring your own power," reflecting the tech sector's growing push to secure dedicated clean energy sources for data center operations rather than relying on existing grids. This is the company's single biggest investment in Europe, including three new data centers in the country's north and a 22-year nuclear power purchase agreement with Finnish utility Fortum. The deal also marks Google's first nuclear energy contract outside the United States.

India and Uzbekistan are closing in on a long-term uranium supply agreement following a state visit by Prime Minister Narendra Modi to Tashkent. India's Ministry of External Affairs said Modi appreciated progress made on a long-term uranium supply arrangement and reaffirmed the importance of strengthening cooperation in critical minerals. The diplomatic push reflects India's urgent need to secure diversified uranium supply as it pursues an ambitious target of reaching 100 GW of nuclear generating capacity by 2047, up from approximately 7,900 MW today across 24 operating reactors. India currently relies on imported uranium from Kazakhstan, Russia, Uzbekistan, and Canada, with its existing Uzbek contract valid only through 2026. Recent months have also seen India sign a new uranium export agreement with Australia and a long-term supply deal with Cameco. Uzbekistan is the world's fifth largest uranium producer, with estimated output of 4,000 tonnes in 2024. The two countries announced a target of raising bilateral trade from just over $1 billion to $5 billion by 2030, with cooperation in geology, mining, nuclear energy, and critical minerals identified as priority areas.

A Newcleo-led consortium has been awarded nearly €1 million in French government funding to develop the conceptual design of a nuclear barge capable of hosting multiple 200 MWe lead-cooled fast reactors. The project, called n-Floating, brings together Newcleo, classification society Bureau Veritas Marine & Offshore, and engineering firm ABMI Groupe, with work already under way and expected to run approximately 18 months. The n-Floating concept is designed around Newcleo's LFR-AS-200 reactor, which provides stable, low-carbon electricity and process heat for industrial users including data centers, hydrogen production, cement, and steel. The project aims to define a roadmap toward potential industrial deployment by 2036, with the ambition to design and build the solution in France. CEO Stefano Buono said maritime deployment of advanced reactors opens a pathway to bring reliable, low-carbon power to coastal and offshore applications where grid connection is costly or unavailable.

Fuel loading has begun at the Palisades nuclear power plant in Michigan, marking a major milestone in what will be the first-ever restart of a previously closed and defueled commercial nuclear reactor in the United States. The reactor core consists of 204 fuel assemblies, including some partially used assemblies from the plant's final operating cycles before it was shut down by Entergy in May 2022. Palisades is an 805 MWe pressurised water reactor that began commercial operation in 1971 and was licensed to operate until March 2031 before being removed from service early. Holtec has notified the NRC of its intent to pursue a subsequent licence renewal that would extend the plant's operation by a further 20 years to 2051, and is advancing plans to deploy its SMR-300 small modular reactors at the Palisades site.

Montreal-based Prodigy Clean Energy has announced plans for a 50 MWe Transportable Nuclear Power Plant pilot project in New Brunswick. The Province of New Brunswick has signed a Letter of Intent to offtake the generated electricity and formally notified Natural Resources Canada of its support to advance the project as a nationally transformative infrastructure initiative, targeting in-service operation by the early 2030s. The project is designed to serve as a commercial blueprint for a fleet of transportable nuclear plants across Canada's North and global export markets. At peak output the facility would power up to 40,000 homes and support more than 150 jobs during site preparation and 40 permanent positions. The plant is reactor-agnostic, with Prodigy targeting a reactor technology selection demonstrably ready for commercial electricity generation by 2032. Prodigy's Transportable Nuclear Power Plant concept uses marine-fabricated, factory-built structures designed to house operating nuclear reactors and be shipped and installed in approximately 18 months. Unlike barge-mounted designs, the company describes its plants as purpose-designed marine buildings that arrive fully assembled, can be completely removed at end of life for centralized decommissioning, and are scalable from 1 to 1,000 MWe depending on reactor technology selected.

The U.S. Department of Energy has selected Raven-Flint Nuclear Corporation to build the country's second commercial uranium conversion facility, called Torch, at Idaho National Laboratory. The U.S. currently has only one commercial uranium conversion plant, the Metropolis Works Facility in Illinois, built in 1958 and meeting less than half of current domestic demand. The new plant will convert 500 tonnes of uranium per year into uranium hexafluoride, the essential intermediate form of uranium required before enrichment and fuel fabrication. That output is enough to fuel approximately two large power reactors annually. The NRC has formally docketed the company's license application, allowing engineering-scale operations to proceed at its radiochemistry lab. Raven-Flint was also selected for the DOE's Nuclear Energy Launch Pad, giving it access to INL's facilities, experts, and a streamlined regulatory pathway toward commercial-scale deployment.

Two RITM-200 nuclear reactors have been installed on the nuclear-powered icebreaker Leningrad, currently under construction at Russia's Baltic Shipyard. The reactors have a 40-year service life with seven years between refuelling, a thermal capacity of 175 MW, and are designed to withstand 45-degree rolls at sea. The Leningrad is one of two Project 22220 icebreakers under construction at the Baltic Shipyard. Four of the class are already in service escorting cargo ships along Russia's Northern Sea Route, the shipping lane along Russia's north coast that offers faster transit between Europe and Asia through Arctic waters. A larger vessel, the Rossiya, is also under construction and will feature two more powerful RITM-400 reactors capable of 120 MW at the propellers, with a target service date of 2030. Russia's nuclear-powered icebreaker fleet is a central element of its strategy to develop the Northern Sea Route as a commercially viable shipping corridor. Fifteen RITM-200 reactors have been completed to date, with 13 more currently under construction.

Atomic Canyon has launched NIVA, a Nuclear Industry Virtual Assistant, making AI-powered knowledge tools available across the U.S. commercial nuclear fleet for the first time. Founder and CEO Trey Lauderdale said the U.S. nuclear sector sits on decades of invaluable technical knowledge that has historically been difficult to access at the speed modern deployments require. The platform draws on more than 53 million pages of NRC data, trained with Oak Ridge National Laboratory on the Frontier exascale supercomputer, and is designed to help nuclear professionals find and apply technical, regulatory, and operational knowledge in plain language rather than keyword searches. NIVA launches with two assistants: a Knowledge Assistant covering NRC regulatory guides, NEI guidance, INPO standards, and EPRI technical reports, and an Operating Experience Assistant that surfaces relevant operational records by meaning and context. A Troubleshooting assistant is in development. The platform was piloted across the industry for six months, with early adopters including Constellation Energy, which operates 21 reactors across 12 plants.

Russian President Vladimir Putin has announced goals for Russia's nuclear energy sector. Included in this plan is the proposed commissioning of approximately 30 gigawatts of additional domestic capacity, expanding into the Arctic, Siberia, and the Far East, and growing international reactor exports to roughly 50 potential units across agreements with more than 20 countries. Rosatom Director General Alexei Likhachev reported that Russia currently has 18 power units under construction domestically, including large-scale, medium-sized VVER-600, and small modular reactor designs, with nuclear's share of power generation targeted to rise from 20% to 25% by 2045. Internationally, 28 units are under construction across nine countries with 17 signed agreements signed over six additional countries. Putin framed Russia's position as unique in possessing expertise across the entire nuclear energy chain, describing it as a competitive advantage driving export growth. He also called for ensuring adequate uranium supply through expanded geological exploration and the widespread adoption of a closed nuclear fuel cycle.