Latest news with #Westinghouse
Forbes
2 days ago
- Business
- Forbes
6 Best Nuclear Power Stocks And ETFs To Buy And Power Your Portfolio Growth
As long as large AI cloud services providers are eager to buy nuclear energy, these investments ... More could enrich your portfolio. As power hungry AI cloud services providers seek ever more energy, nuclear energy is enjoying a revival. While younger people who did not live through the near-meltdowns such as Chernobyl (1986) and Three Mile Island (1979) are bullish, the regulatory and financial barriers to building nuclear power plants remain formidable. Nevertheless, capital providers see these barriers as worth hurdling. With annual investment in nuclear power doubling to $60 billion since 2020, nuclear power could energize your portfolio. For example, Microsoft signed a 20-year agreement to use power from Three Mile Island, and Meta signed a similar deal with another nuclear power facility. To profit from this trend while considering the risks, read on for three publicly-traded stocks and three exchange traded funds which could rise along with demand for nuclear energy. What Is The Current State of Nuclear Power? With concerns about energy security and climate change on the rise, nuclear power is experiencing a resurgence. Roughly 400 reactors are now operating in 31 countries providing about 5% of the world's electricity. What's more, new nuclear reactors are being constructed. Of the 63 nuclear reactors being built, many deploy new technologies such as Small Modular Reactors – which are safer and smaller – and advanced Generation IV reactors, wrote Goldman Sachs. Another positive is the support for nuclear power from younger people who lack a direct memory of previous disasters and recognize nuclear's 'role in decarbonization efforts,' reports Strats Research. Nevertheless, nuclear faces significant challenges, including the following: 3 Top Nuclear Power Stocks To Buy Now 1. Constellation Energy (CEG) Baltimore, Maryland-based Constellation Energy Corporation produces and sells electricity, natural gas, energy-related products and sustainable solutions in the Mid-Atlantic, Midwest, New York, ERCOT and other power regions. Constellation is a top choice because it is the largest operator of nuclear reactors in the United States and a major provider of carbon-free electricity. The company's focus on nuclear power provides a reliable source of baseload electricity and makes it an attractive partner for technology companies needing consistent power for data centers. For instance, Meta recently announced a 20-year nuclear agreement with Constellation. 2. Cameco (CCJ) Saskatoon, Saskatchewan-based Cameco Corporation provides uranium through three segments: Uranium, Fuel Services and Westinghouse. The Uranium segment explores for, mines, mills, purchases and sells uranium concentrate. The Fuel Services segment refines, converts, and fabricates uranium concentrate. The Westinghouse segment makes nuclear reactor technology equipment and provides products and services to commercial utilities and government agencies, reported Yahoo! Finance. As one of the world's largest uranium producers, Cameco is a top choice because it is likely to benefit from increasing nuclear fuel demand. The company has substantial high-grade uranium reserves and long-term contracts with utility companies, providing a degree of stability. Cameco also has an ownership stake in Westinghouse Electric, providing exposure to nuclear reactor construction, according to SeekingAlpha. 3. NuScale Power (SMR) Corvallis, Oregon-based NuScale Power provides a small modular reactor technology system -- the NuScale Power Module. The NPM, a water reactor, can generate 77 megawatts of electricity. Founded in 2007, NuScale operates as a subsidiary of Fluor Enterprises, according to Yahoo! Finance. NuScale is a top choice due to the company's leadership in SMR technology, which offers potential benefits in scalability, safety, and faster deployment compared to traditional large reactors. The company's SMR design is the first to be certified by the U.S. Nuclear Regulatory Commission, giving it a potential first-mover advantage in this emerging technology, according to 24/7 Wall Street. 3 Top Nuclear Power ETFs To Buy Now 1. VanEck Uranium and Nuclear ETF (NLR) One year price change: 48.7% Top five holdings: The VanEck Uranium and Nuclear ETF The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index of equity securities and depositary receipts issued by uranium and nuclear energy companies, according to Yahoo! Finance. The ETF is a top choice because it offers broader exposure to the nuclear energy sector beyond just uranium miners. It includes uranium miners, nuclear power plant builders and maintainers, nuclear electricity producers, and related equipment and technology. The fund's exposure to utilities can make a portfolio more defensive. 2. Range Nuclear Renaissance Index ETF (NUKZ) Business One year price change: 50% Top five holdings: Range Nuclear Renaissance Index ETF normally invests in securities of nuclear fuel and energy – particularly in the areas of advanced reactors; utilities; construction and services; and/or fuel. Under normal circumstances, the fund invests at least 80% of its net assets in securities of nuclear companies. The ETF is a top choice because it tracks a custom index reflecting the nuclear industry broadly. It offers significant exposure to advanced reactor technology, including a large position in Oklo, which makes small modular reactors. NUKZ has shown strong performance and offers exposure to the developing advanced nuclear technology sector, according to TipRanks. 3. Global X Uranium ETF (URA) One year price change: 54.6% Top five holdings: Global X Uranium ETF normally invests at least 80% of its total assets in the securities of the underlying index that tracks the broad based equity market performance of global companies involved in the uranium industry, according to Yahoo! Finance. URA is a top choice because it is the largest and most popular nuclear ETF by assets under management. It provides broad exposure to the uranium and nuclear energy value chain, including uranium producers, nuclear component manufacturers and service providers. This ETF also offers direct exposure to the physical uranium commodity, which is unique among nuclear ETFs. Bottom Line With investment in nuclear power doubling over the last five years, should you invest in companies and ETFs that track its growth? Despite the risks of nuclear power – which include enormous capital requirements, regulatory and political hurdles and the risk of nuclear accidents – the stocks and ETFs highlighted above may offer upside opportunity. As long as large AI cloud services providers are eager to buy nuclear energy, these investments could enrich your portfolio
Euractiv
2 days ago
- Business
- Euractiv
Slovakia taps Westinghouse for major nuclear project, skips tender rules
BRATISLVA – Slovakia has bypassed the public tender process and is moving with plans to build a nuclear plant estimated at €13-15 billion in partnership with US company Westinghouse, marking what would be the largest investment project in the country's history. Westinghouse 'has a product - a nuclear reactor with a power output of 1,250 megawatts - that fits our plans,' Slovak Prime Minister Robert Fico said over the weekend. Economy Minister Denisa Saková confirmed the government would proceed without a tender, citing faster timelines in Poland and Bulgaria compared to Czechia, where a public procurement process took nearly four years and cost 'hundreds of millions of euros.' An intergovernmental deal with the US has already been finalised, Saková added. While it does not technically oblige Slovakia to choose Westinghouse, it anticipates a construction contract in 2027, pending feasibility studies. The European Commission is currently reviewing the compatibility of the draft US-Slovak deal under the Euratom Treaty, with a decision expected by the end of July, a source familiar with the file told EURACTIV Slovakia. A separate assessment will follow once the actual investment project is formally agreed, alongside additional reviews on state aid, procurement rules, and environmental compliance. The opposition has criticised the decision to proceed without expert public consultation or debate in the National Council. Financing also remains unclear, though the government has launched a tender to select a financial advisor for the project. (de)
Yahoo
4 days ago
- Business
- Yahoo
Canadian reactor group taps into Donald Trump's nuclear renaissance
Canada's AtkinsRéalis Group plans to deploy its nuclear reactor technology in the US to compete against Westinghouse, as a growing number Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Gulf Today
5 days ago
- Business
- Gulf Today
ENEC and Westinghouse ink deal to accelerate nuclear energy solutions
The Emirates Nuclear Energy Company (ENEC) and Westinghouse Electric Company signed a Memorandum of Understanding (MoU) exploring collaboration opportunities for the deployment of advanced nuclear energy solutions in the United States. Signed in Washington DC, the agreement is aligned with US priorities to quadruple the nation's nuclear generation by 2050 to meet rising power demand, including from the expansion of AI and the technology sector. The collaboration will leverage ENEC's world-class expertise in large-scale nuclear development and operations and Westinghouse's industry leading nuclear technologies. Under the MoU, the companies will explore ways to accelerate the deployment of the fully licensed, construction-ready AP1000 reactor in the US. In addition, ENEC and Westinghouse will look at ways to collaborate across a broad range of opportunities, including new build and restart projects in the US, development of commercial and operational deployment models for AP1000 reactors, and fuel supply chains, operations and maintenance services. Mohamed Al Hammadi, Managing Director and Chief Executive Officer of ENEC, said, 'The world is turning to nuclear energy as a necessity for delivering clean and reliable baseload electricity to meet power demand in parallel with protecting the grid. With ENEC's proven track record in developing one of the world's most advanced nuclear energy programmes, our collaboration with Westinghouse brings together two leaders in our fields. This marks a significant step in supporting the United States' bold ambitions to rapidly expand its nuclear fleet, reinforcing the deep and long-standing energy partnership between the UAE and the United States.' Dan Sumner, Interim CEO of Westinghouse, said, 'The US has a bold vision to have 10 large-scale nuclear reactors under construction by 2030, and Westinghouse is working closely with industry partners to make this a reality. Our AP1000 technology is the only fully licensed, construction-ready large modular reactor available today to deliver this goal. In addition to driving billions of dollars of direct economic impact for the nation, an AP1000 fleet deployment will create tens of thousands of good paying manufacturing, engineering, and construction jobs. We believe that ENEC's expertise in large-scale nuclear deployment will help us achieve this objective.' The partnership aligns with ENEC's broader strategy to pursue opportunities for investment, collaboration and deployment of nuclear technologies internationally, to support the rapid delivery of civil nuclear energy to boost energy security and sustainability. By sharing the expertise and insights gained from the successful delivery and operation of the Barakah Nuclear Energy Plant, ENEC is supporting other countries and organisations seeking to integrate nuclear energy into their clean energy strategies, accelerating responsible nuclear energy growth to meet rising global power demands while strengthening power grids. Meanwhile in November 2024, the Emirates Nuclear Energy Company (ENEC) announced it has signed a Strategic Collaboration Agreement (SCA) with Adnoc to research and explore developing innovative energy solutions to enhance energy efficiency in support of the UAE's energy diversification strategy. This agreement involves a comprehensive technical and economic assessment to identify the best-fit nuclear reactor technologies for Adnoc by leveraging ENEC's expertise in assessing technological performance in pilot projects as well as future technologies under development. The agreement also includes a joint effort to explore the use of excess heat from the Barakah Nuclear Energy Plant in Abu Dhabi, by conducting feasibility studies to assess excess heat usage opportunities, with recommendations for advanced technologies that can be demonstrated through existing or upcoming pilot projects. Ahmed Al Mazrouei, Nuclear Research and Development Vice President at ENEC, said, 'This strategic collaboration with Adnoc marks a significant step forward in our ongoing commitment to advancing new technologies and driving R&D in the UAE's energy sector. By focusing on cutting-edge nuclear innovations and exploring new methods to harness excess heat for industrial applications, we are strengthening the UAE's green economy. Together with Adnoc, we will leverage our combined technical capabilities and expertise to identify and develop nuclear solutions that enhance energy security and sustainability in parallel.' Ali Al Rawahi, Senior Vice President for Technology and Innovation at Adnoc, stated, 'In collaborating with ENEC, we will explore the deployment of small modular nuclear reactors as we develop innovative energy solutions to enhance our operational efficiency. Our partnership underscores our mutual commitment to scaling a reliable and clean energy source, as well as developing pioneering advancements in lower-carbon energy and technological innovation.' WAM
Gulf Business
5 days ago
- Business
- Gulf Business
ENEC, Westinghouse ink MoU to accelerate nuclear energy deployment in US
Image: Supplied The Emirates Nuclear Energy Company (ENEC) and US-based Westinghouse Electric Company have signed a memorandum of understanding (MoU) to explore the deployment of advanced nuclear technologies in the United States, the companies said. The agreement, signed in Washington, DC, aims to support the expansion of nuclear power in the US, in line with federal ambitions to quadruple the country's nuclear capacity by 2050. It comes as the US seeks to meet growing electricity demand driven by emerging technologies such as artificial intelligence and data center expansion. Supporting US plans to quadruple nuclear capacity Under the terms of the MoU, ENEC and Westinghouse will explore opportunities to accelerate the rollout of Westinghouse's AP1000 reactors. The companies also plan to collaborate on US nuclear new build and restart projects, reactor deployment models, fuel supply chain cooperation, and operations and maintenance. ENEC touts Barakah experience as model 'This marks a significant step in supporting the United States' bold ambitions to rapidly expand its nuclear fleet,' said Mohamed Al Hammadi, CEO of ENEC. 'With The AP1000 is currently the only large modular reactor design fully licensed and ready for construction in the U.S., according to Westinghouse. Interim CEO Dan Sumner said the company is working with partners to meet a federal target of having 10 new large-scale reactors under construction by 2030. 'A fleet of AP1000 reactors would generate billions in direct economic impact and create tens of thousands of skilled jobs,' Sumner said. 'ENEC's expertise in nuclear deployment is a valuable asset to this goal.' The partnership also aligns with ENEC's international strategy to export nuclear development expertise gained from the Barakah Nuclear Energy Plant in the UAE, which is now fully operational and supplies approximately 25 per cent of the country's ENEC is pursuing global opportunities through its ADVANCE programme, which includes an interest in small modular and advanced reactor technologies. Westinghouse, which built the world's first commercial pressurized water reactor in 1957, is involved in about half of the world's operating nuclear plants. Financial details of the agreement were not disclosed.
