The U.S. wants to get in on the nuclear renaissance — and Canada’s happy to bring the blueprints.
Driving the news: Montreal-based AtkinsRéalis Group (formerly SNC-Lavalin Group) has begun talks with the U.S. Nuclear Regulatory Commission to build nuclear reactors in the country, laying the groundwork to enter a relatively untapped American market.
- The company’s nuclear business is already scoring big, partnering with French nuclear company Électricité de France and growing revenue from its nuclear division.
- The U.S. only has one nuclear technology company, Westinghouse, which doesn’t have the capacity to meet the U.S. government’s goals. That leaves space for international players like AtkinsRéalis.
Catch-up: Nuclear is in the midst of a comeback. The energy source fell from a high of 18% of world energy generation in the mid-1980s to 9% today, but now, countries like the U.K., France, and Japan are all expanding their nuclear capacity.
- In May, President Trump signed a directive to quadruple the country’s atomic energy capacity by 2050, also requiring the Nuclear Regulatory Commission to approve new reactors within 18 months.
Why it matters: The demand for nuclear energy is expected to increase 2.5 times by 2050, not to mention increased demand for energy-intensive AI data centres. With their specialized Candu reactors, which are perceived as less expensive to operate, Canada is well-positioned to take advantage of nuclear’s comeback.—GS