After decades of developmental stagnation, nuclear power is making a strong comeback as a reliable clean energy source. Currently the world’s second-largest source of low-carbon electricity, market projections suggest that nuclear power generation in the United States could quadruple by 2050. Against this industry backdrop, several companies are actively expanding their technology and production capacity to gain a market edge. Among them, three U.S. nuclear energy companies are steadily advancing their strategic plans and may each achieve significant breakthroughs by 2026.
As an advanced nuclear company, Oklo (OKLO) is dedicated to developing small, fast-spectrum reactors coupled with fuel recycling technology. Its flagship power plant, “Aurora,” features a unique design that blends the aesthetics of a Nordic cathedral with the compact structure of an eco-friendly cabin. This visually appealing plant is small in size yet capable of generating up to 75 megawatts of electricity—enough to power a standard data center. Furthermore, these plants are designed to use high-assay, low-enriched uranium fuel, a special type of fuel that allows the reactors to run for up to ten years without refueling. Currently, Oklo is still in its pre-profit phase, with its “Aurora” design awaiting regulatory approval, and the company is experiencing significant cash burn. Notably, it is participating in a government program aimed at accelerating approvals and expects to launch its first reactor by mid-2026. This represents a crucial milestone for a startup whose technology has not yet been validated on a commercial scale.
If Oklo’s plants plan to use high-assay, low-enriched uranium fuel, then the source of this fuel becomes a core issue. Centrus Energy (LEU) is the answer to this problem. As the only company currently licensed to produce this fuel in the United States, Centrus is seen as key to resolving domestic supply chain bottlenecks. This is also a significant reason why Oklo and Centrus began their partnership in 2021. Although the majority of the company’s current revenue still comes from low-enriched uranium sales, it has an agreement with the U.S. Department of Energy to complete production of high-assay, low-enriched uranium by June 30, 2026. This contract includes an option for an eight-year extension. If executed successfully, Centrus has the potential to become a solid pillar for the domestic supply of this fuel over the next decade.
Similar to Oklo, NuScale Power (SMR) also focuses on designing small modular reactors. The key difference is that NuScale has already received design approval from the U.S. Nuclear Regulatory Commission, making it the first and currently the only certified small modular reactor of its kind. This first-mover advantage helps accelerate project deployment. Currently, the company is performing Front-End Engineering and Design work for Romania’s RoPower, preparing for the country’s first SMR nuclear power plant. This work is scheduled for completion around mid-2026, after which RoPower will decide whether to fully adopt NuScale’s technology for plant construction. If the project proceeds smoothly, this would mark the first commercial deployment of NuScale’s technology. Of course, like Oklo and Centrus, NuScale’s technology has also not been proven on a commercial scale. Therefore, as it translates its design into actual revenue, its market performance is expected to be accompanied by significant volatility.
