The US Nuclear Regulatory Commission has approved Tennessee Valley Authority's application to construct a 300-megawatt BWRX-300 reactor from GE Vernova at its Clinch River site in Tennessee. This marks the first commercial small modular reactor the NRC has cleared for construction. The approval came after a 14-month review, four months ahead of schedule. Ontario Power Generation also received a licence to construct the first BWRX-300 in Canada in April 2025, with construction now underway. Meanwhile, NuScale Power, which holds the only NRC design certification for a small modular reactor, has no firm customer commitments yet. Its shares have fallen approximately 86% from a year ago. NuScale's revenue dropped from $8.1 million in Q2 2025 to just $75,000 in Q2 2026, whilst operating losses grew to $64 million.

Centrus Energy has announced a planned joint venture with small modular reactor developer Oklo to support growing demand for specialised nuclear fuel. Centrus supplies High-Assay, Low-Enriched Uranium (HALEU), required for most US reactors to achieve smaller designs. Its Piketon, Ohio facility was the first in the country licensed to produce HALEU. The company reported $176.1 million revenue in Q2, up 14% year-over-year, and $16.8 million net income. It ended the quarter with a $4.5 billion future revenue backlog extending through 2040, including $3 billion of HALEU and Low-Enriched Uranium. Recent deals include a $900 million HALEU enrichment award with the US Department of Energy and supply agreements with Antares Nuclear, Radiant, and X-energy.

As part of a demonstration of continued Japanese interest in NuScale Power, IHI will support future deployments of NuScale SMRs.