Top Small Modular Reactor Companies

The global shift toward decarbonization and sustainable energy is a major driver of the Small Modular Reactor (SMR) market. Increasing concerns over climate change and strict emission reduction targets are prompting governments and corporations to seek alternatives to fossil fuels. SMRs offer a low-carbon, reliable, and continuous power supply, addressing the intermittency challenges of renewable energy sources like solar and wind. This demand creates strong policy support, subsidies, and investments in nuclear infrastructure. Consequently, the need for clean, stable electricity directly accelerates the research, development, and deployment of SMR technologies worldwide, driving market growth.

Industry Overview

According to SkyQuest Technology “Global Small Modular Reactor Market” By Reactor Type (Heavy Water Reactors, Light Water Reactors), By Location (Onshore, Offshore), By Capacity, By Deployment, By Region - Industry Forecast 2025-2032,” Global small modular reactor market is projected to grow at a CAGR of over 8.9% by 2032, on account of urgent need for automating quantified data. Technological innovation in SMR design is a critical factor shaping the market. Advances such as passive safety systems, compact modular construction, and enhanced cooling mechanisms reduce operational risks and construction costs.

Top 10 Global Small Modular Reactor Companies

1. NuScale Power Corporation

NuScale Power Corporation is a global leader in small modular reactor (SMR) technology, dedicated to providing safe, scalable, and low-carbon nuclear energy solutions. Founded in 2007 and headquartered in Tigard, Oregon, the company has emerged as a pioneer in advanced nuclear power. Its core offerings include the NuScale Power Module™, the first SMR design approved by the U.S. Nuclear Regulatory Commission in 2020. Recently, NuScale has achieved NRC approval for its 77 MW module design, reinforcing its mission to transform the nuclear energy sector and support the global clean energy transition.

2. Holtec International

Holtec International is a global leader in nuclear energy technology, specializing in spent fuel storage, small modular reactors (SMRs), and nuclear plant decommissioning. Founded in 1986 by Dr. Kris Singh, the company is headquartered in Camden, New Jersey. Holtec manufactures advanced nuclear equipment, including the SMR-160 and SMR-300 reactor designs, and operates fabrication facilities in Camden, Pittsburgh, and Orrville. In 2025, Holtec received approval from the U.S. Nuclear Regulatory Commission to restart the Palisades Nuclear Generating Station in Michigan, marking a significant milestone in its mission to advance clean energy solutions.

3. GE Hitachi Nuclear Energy

GE Hitachi Nuclear Energy (GEH) is a global leader in nuclear technology and services, dedicated to advancing safe, efficient, and low-carbon energy solutions. Founded in 2007 and headquartered in Wilmington, North Carolina, the company is a joint venture between General Electric and Hitachi. Its core offerings include advanced reactor designs, small modular reactors (SMRs) such as the BWRX-300, reactor upgrades, fuel supply, and plant life extension services. Recently, GEH announced plans to expand its Wilmington operations, supporting the deployment of modular nuclear technology and strengthening the clean energy transition.

4. Rosatom State Atomic Energy Corporation

Rosatom State Atomic Energy Corporation is a global leader in nuclear energy and technology, dedicated to providing safe, efficient, and low-carbon power solutions worldwide. Founded in 2007 and headquartered in Moscow, Russia, the company operates in uranium mining, nuclear fuel production, reactor design, construction, and nuclear medicine. Its core offerings include domestic and international nuclear power plant projects, advanced reactor technologies, and renewable energy initiatives. Recently, Rosatom has expanded its global footprint with projects in over 12 countries, reinforcing its mission to drive the nuclear energy sector and support sustainable energy development.

5. Westinghouse Electric Company

Westinghouse Electric Company is a global leader in nuclear technology and services, dedicated to providing safe, reliable, and low-carbon energy solutions. Founded in 1886 and headquartered in Cranberry Township, Pennsylvania, the company specializes in nuclear fuel, plant design, instrumentation, control systems, and maintenance services. Its core offerings include advanced reactors such as the AP1000, reactor upgrades, and plant life cycle management. Recently, Westinghouse resolved key international disputes and strengthened partnerships, reinforcing its position in the global nuclear energy market and supporting the worldwide transition toward sustainable and clean power generation.

6. TerraPower

TerraPower is a global leader in advanced nuclear technology, dedicated to delivering safe, efficient, and low-carbon energy solutions. Founded in 2006 by Bill Gates and headquartered in Bellevue, Washington, the company develops innovative nuclear reactors to address climate and energy challenges. Its core offerings include the Natrium reactor, a sodium-cooled fast reactor integrated with molten salt energy storage, providing flexible, dispatchable power. Recently, TerraPower broke ground on the Natrium demonstration project in Kemmerer, Wyoming, marking a major milestone in the commercial deployment of next-generation nuclear energy technologies.

7. General Atomics

General Atomics is a global leader in nuclear energy and advanced technology, dedicated to developing safe, efficient, and innovative energy solutions. Founded in 1955 and headquartered in San Diego, California, the company specializes in nuclear reactors, electromagnetic systems, and advanced electronics. Its core offerings include TRIGA® research reactors, the Energy Multiplier Module (EM2), and the Gas Turbine Modular Helium Reactor (GT-MHR). Recently, General Atomics has expanded its nuclear technology initiatives for civilian and defense applications, reinforcing its mission to drive innovation in nuclear energy and contribute to sustainable, low-carbon power solutions worldwide.

8. X-energy

X-energy is a pioneering American nuclear technology company specializing in advanced small modular reactors (SMRs) and high-assay low-enriched uranium (HALEU) fuel. Founded in 2009 and headquartered in Rockville, Maryland, X-energy develops the Generation IV Xe-100 reactor—a helium-cooled, pebble-bed design utilizing TRISO-X fuel for enhanced safety and efficiency. The company is actively deploying its technology through projects such as the Long Mott Generating Station in Texas, developed in partnership with Dow Inc., and a proposed 12-unit facility in Washington State with Energy Northwest.

9. Rolls-Royce SMR

Rolls-Royce SMR is a UK-based company specializing in the development of Small Modular Reactors (SMRs) to provide scalable, low-carbon energy solutions. Founded in 2021 and headquartered in Manchester, England, the company is a subsidiary of Rolls-Royce Holdings plc. Its flagship product is a 470 MWe pressurized water reactor designed for factory fabrication and modular deployment, capable of powering approximately one million homes for over 60 years. In 2025, Rolls-Royce SMR was selected by the UK government to lead the country's SMR program, aiming to enhance energy security and meet net-zero targets.

10. China National Nuclear Corporation (CNNC)

China National Nuclear Corporation (CNNC) is a state-owned enterprise and the cornerstone of China’s nuclear industry, responsible for both civilian and military nuclear programs. Founded in 1955 and headquartered in Beijing, CNNC manages the full nuclear fuel cycle—from uranium exploration and mining to reactor design, construction, and waste management. The company develops advanced reactor technologies, including small modular reactors (SMRs) and Generation IV designs, supporting China’s energy diversification and carbon neutrality goals.

Other Leading Global Small Modular Reactor Companies

• Korea Atomic Energy Research Institute (KAERI)
• Canadian Nuclear Laboratories (CNL)
• Oklo Inc.
• Ultra Safe Nuclear Corporation (USNC)
• Idaho National Laboratory (INL)
• Moltex Energy
• U-Battery Developments Ltd.
• Seaborg Technologies
• ThorCon Power
• Kairos Power

Conclusion

The global Small Modular Reactor (SMR) market is rapidly emerging as a pivotal force in the clean energy transition, driven by the convergence of technological innovation and global decarbonization goals. SMRs offer a sustainable, safe, and efficient alternative to traditional power sources, addressing energy security concerns while supporting net-zero commitments. Leading companies such as NuScale Power, Holtec International, and TerraPower are pioneering advanced modular designs, improving cost efficiency and scalability. With government support, strong R&D investments, and rising collaborations across regions, SMRs are positioned to revolutionize the global energy mix by providing reliable, low-carbon electricity for future generations.