Europe’s cutting-edge nuclear start-ups are preparing to switch operations to the US as they seek deeper financing and stronger government support, warning they are losing out to well-resourced rivals in the race to develop the technology.
President Donald Trump’s enthusiasm for the sector, and the potential of a new generation of small modular reactors (SMRs), has galvanised US investors’ interest in the possibilities for technology they hope can power the expected AI boom.
This has helped fuel eye-popping valuations for some US nuclear developers, and helped others to raise hundreds of millions of dollars, far exceeding the sums available in Europe, where some start-ups have struggled with liquidity.
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