1、ab23 September 2025Global ResearchNorth America Alternative EnergyU.S.Nuclear UpdateU.S.-U.K.Nuclear PartnershipOn 15-Sep-2025,the U.S.and U.K.governments announced the signing of the Atlantic Partnership for Advanced Nuclear Energy.Key takeaways from the partnership agreement include:A reduction in

2、 licensing timelines for new reactor applications in both the U.S.and U.K.A reduction in duplicate regulatory work through shared site licensing and safety evaluations for new reactor designs between U.S.and U.K.regulatorsGreater access to U.S.and U.K.markets for U.S.and U.K.nuclear companiesWe view

3、 the partnership agreement as a significant positive for the build-out of U.S.nuclear infrastructure broadly.However,we remain cautiously optimistic as we await further commercialization progress from individual reactor projects and companies.The first small modular reactor(SMR)design that achieves

4、commercialization is likely to capture a significant portion of the market,in our view.Widespread adoption of SMR technology requires industry consolidation around standard designs to drive production efficiencies and lower regulatory,site-specific,and supply chain costs,in our view.More nuclear dea

5、ls announcedThe partnership agreement also aims to increase access to the market for both U.K.and U.S.companies.Several deals were announced alongside the partnership agreement.X-Energy and Centrica plan to build up to 6GW of new nuclear generation capacity.Holtec International,EDF Energy,and Tritax

6、 plan to develop advanced data centers powered by SMRs in a project valued at$15bn.Urenco and Radiant announced a$5mn deal to supply high-assay low enriched uranium(HALEU)fuel to the U.S.market.Urenco is building an Advanced Fuels Facility in the U.K.and is exploring building a similar facility in t