GE Vernova targets more than $2 billion in annual revenue from its small reactor business by the mid-2030s. The company envisions deploying up to 57 small modular reactors across the U.S., Canada, the UK, and Europe to meet rising electricity demand and cut carbon dioxide emissions.
GE Vernova's small modular reactor, BWRX-300 , could play a role in developing more nuclear power over the next decade.
GE Vernova is the spinoff of General Electric's former energy business. The company's stock has more than doubled since listing on the New York Stock Exchange last April, with investors seeing the Cambridge, Mass.-based company playing a key role in the future of the power industry through a portfolio of divisions that span nuclear, natural gas, wind and carbon capture.by 2050 to shore up an electric grid that is under growing pressure from surging power demand.
GE Vernova is targeting more than $2 billion in annual revenue from its small reactor business by the mid-2030s. That compares with total company revenue of $33.2 billion last year. GE Vernova sees demand for as many as 57 small reactors in total across its target markets in the U.S., Canada, the United Kingdom and Europe by 2035.
"We are in conversations with a lot of the big tech companies," Holmes said."I see a ton of interest from them in in new nuclear, and what it could do to meet some of their energy demands."in March 2023 with Ontario Power Generation, Tennessee Valley Authority and Synthos Green Energy in Poland to invest $500 million to kick start the BWRX-300 and launch the reactor at a commercial scale.
The reactor is scheduled to come online in 2029 in Darlington on Lake Ontario about 60 miles east of Toronto. Ontario Power eventually plans to
GE Vernova BWRX-300 Small Modular Reactors Nuclear Power Energy Demand Carbon Emissions
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