Nuclear Revival: mPower SMR Gets a Second Act in a Power-Hungry World

LOS ANGELES, CA – June 17, 2026 – In a move that signals both the immense pressures on our energy grid and the shifting fortunes of nuclear power, startup Applied Atomics has secured an exclusive license to commercialize the mPower™ small modular reactor (SMR). The deal with manufacturing giant BWX Technologies, Inc. (BWXT) resurrects a design shelved nearly a decade ago, betting that its time has finally come.

Under the agreement announced today, Applied Atomics gains the rights to develop and deploy land-based mPower facilities across North America and beyond. BWXT, which spent a reported $400 million on the initial design before suspending the program in 2017 amid financial headwinds, retains the intellectual property and, crucially, exclusive rights to manufacture the reactor's components. It’s a classic licensing play that allows the technology originator to capitalize on its R&D investment while offloading the immense risk of commercial deployment to a new, focused entity.

For Applied Atomics, the challenge is clear. "BWXT spent a decade working to design mPower. Our job is to complete its development then design and deploy the first optimized, vertically integrated SMR power plant," said CEO Benjamin Kellie. This task involves not just engineering but navigating a complex regulatory and economic landscape that has become a graveyard for ambitious energy projects. Yet, the market has changed dramatically since mPower was first put on ice, creating an opportunity that Kellie and his team believe is too large to ignore.

The Unquenchable Thirst of the Digital Age

The primary driver behind this nuclear second act is the unprecedented surge in electricity demand, overwhelmingly fueled by the construction of massive data centers. Industry forecasts are staggering. The Electric Power Research Institute (EPRI) estimates data centers could consume as much as 9% of all U.S. electricity by 2030, more than double their 2023 share. Analysts at Goldman Sachs project U.S. data center power demand will soar from 31 gigawatts (GW) to 66 GW by 2027 alone.

This explosive growth, driven by the computational demands of artificial intelligence, is putting immense strain on a grid already struggling with the transition to renewables. Utilities are sounding the alarm, with some projections suggesting the U.S. will need to add over 300 GW of new capacity by 2035 just to keep pace. This is the specific, high-value market Applied Atomics is targeting. The press release explicitly identifies dedicated industrial and technology sector power supply as the primary initial market, citing the mPower's suitability for 'behind-the-meter' configurations that could power data center campuses directly.

The mPower itself is a 195-megawatt electric (MWe) integral pressurized water reactor. Its key design feature is housing all primary components—the reactor core, steam generators, and pressurizer—within a single, factory-built vessel. This integral design aims to eliminate the large primary coolant pipes characteristic of conventional nuclear plants, a feature intended to remove the possibility of a large-break Loss of Coolant Accident (LOCA), one of the most severe potential failure modes. By using standard low-enriched uranium (LEU), the design also sidesteps the supply chain bottlenecks currently facing advanced reactors that require high-assay LEU (HALEU) fuel.

A Crowded and Competitive Field

While the demand is undeniable, Applied Atomics is not entering an empty arena. The SMR space has become a fiercely competitive landscape, with several companies significantly further down the commercialization path. The success or failure of mPower will depend not just on its technical merits, but on its ability to catch up to and out-execute its rivals.

NuScale Power’s 77 MWe design is the only SMR to have received standard design approval from the U.S. Nuclear Regulatory Commission (NRC), and the company is already working on deployments in Romania and with the Tennessee Valley Authority. In Canada, GE Hitachi’s 300 MWe BWRX-300 reactor is already under construction in Darlington, Ontario, with an expected operational date by the end of the decade. Across the Atlantic, Rolls-Royce SMR has secured a lead position in the UK and is expanding into the Czech Republic and Sweden.

Meanwhile, tech and industrial giants are placing their own bets. Bill Gates’ TerraPower broke ground on its Natrium reactor project in Wyoming this month, backed by funding from Meta. Amazon has invested $500 million in X-energy, which is developing its high-temperature gas-cooled reactor to power a Dow chemical facility in Texas. These competitors have government backing, established supply chains, and, in some cases, years of regulatory review already behind them. Applied Atomics is starting from a position of resuscitation, not acceleration.

The Long Road from License to Light-Up

For Applied Atomics, securing the license is merely the first step on a long and arduous journey. The company's immediate task is to re-engage with the NRC to resume the design certification process that BWXT abandoned. This is no small feat. NuScale’s certification took four years and cost hundreds of millions of dollars. While BWXT preserved the engineering archive, the design will likely need updates to meet the latest standards, and the NRC review process is notoriously rigorous.

Beyond regulatory approval lies the challenge of financing and execution. The original mPower program was suspended because its developers couldn't secure the estimated $1.5 billion needed for certification and commercialization. While the market dynamics have improved, the capital requirements remain immense, especially for 'first-of-a-kind' (FOAK) construction, which is often plagued by cost overruns and delays.

Applied Atomics must now prove it has the capital commitment, technical team, and operational discipline to succeed where its predecessor faltered. The company will need to develop site-specific engineering, build out a supply chain in partnership with BWXT, and navigate the complex web of local, state, and federal regulations, all while gaining the public acceptance crucial for any nuclear project. The path from a press release to a producing power plant is measured in years, if not decades, and billions of dollars.