Small Modular Reactors (SMRs) are emerging as a transformative solution for powering data centers with clean, reliable energy. According to BIS Research, the global small modular reactor market (SMRs) in data centers is projected to grow from $38.26 million in 2028 to $278.35 million by 2033. The main driver behind this growth is the increasing need for reliable and secure energy sources in data centers, which demand uninterrupted power for continuous operations.
In this article, we explore the top 10 small modular reactor companies leading the revolution in SMR-powered data centers and how they are shaping the future of energy sustainability.
X-Energy is making major strides in SMR technology with its Xe-100 reactor which generates 80 MW per unit and scales up to 960 MW. Its modular design enables fast and flexible deployment.
In early 2025, it secured $700 million in Series C-1 funding, following a $500 million round in late 2024, to accelerate reactor development and build a TRISO-X fuel facility in Tennessee. The Xe-100 generates 80 MW per unit and can scale up to 960 MW. Its modular design enables faster, more flexible deployment of industrial and clean energy applications.
X-Energy is partnering with Amazon to deliver 5 GW of clean energy by 2039 and is developing North America’s first grid-scale advanced nuclear plant with Dow in Texas. X-Energy is emerging as a key player in the future of compact, low-carbon nuclear power.
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TerraPower, founded by Bill Gates in 2006, is advancing its Natrium small modular reactor (SMR) technology, which uses sodium as a coolant and includes a molten salt-based energy storage system. The Natrium reactor, developed with GE Hitachi Nuclear Energy, has a base capacity of 345 MW but can temporarily boost output to 500 MW for over five hours. Construction of its first demonstration plant began in Kemmerer, Wyoming, at a retired coal power plant site, marking the first coal-to-nuclear project globally. The plant aims to start operations by 2030 and supply power to 400,000 homes. TerraPower has raised $1 billion in private funding and received $2 billion from the U.S. Department of Energy. Despite challenges like uranium fuel sourcing and regulatory approvals, the project represents a significant step toward next-generation nuclear energy and decarbonization goals.
Westinghouse Electric Company is advancing its small modular reactor (SMR) technology with the AP300, a 300-MWe single-loop pressurized water reactor based on its proven AP1000 design. Leveraging existing technology and supply chains, the AP300 offers cost efficiency, enhanced safety features, and a lifecycle of over 80 years. It supports diverse applications, including grid power, hydrogen production, desalination, and district heating. The company plans to deploy the first units by the early 2030s, with projects underway in the U.S. and U.K., including a privately funded initiative in Northeast England. This SMR design aligns with global decarbonization goals and energy security needs.
NuScale Power Corporation is a U.S.-based leader in small modular reactor (SMR) technology, headquartered in Tigard, Oregon. Its innovative NuScale Power Module (NPM) is a scalable, factory-fabricated reactor capable of producing 77 megawatts of electricity (MWe) per unit, with plants housing up to 12 modules for a total output of 924 MWe. NuScale's design emphasizes safety, reliability, and carbon-free energy, making it suitable for diverse applications like grid power, industrial heating, and desalination. It is the first SMR to receive U.S. Nuclear Regulatory Commission design approval and is transitioning from R&D to commercialization, with plans for near-term deployment.
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Oklo has made notable progress in its small modular reactor (SMR) technology, recently expanding its customer pipeline to 2,100MW through agreements with data center operators, including a significant 750MW commitment. The company signed a multi-gigawatt framework agreement with Switch to deploy 12GW of nuclear power by 2044 and is advancing its Aurora reactor design, which utilizes metallic fuel and operates on high-assay low-enriched uranium (HALEU). Regulatory developments include receiving approval for its Aurora Fuel Fabrication Facility and securing environmental permits for its first commercial plant at Idaho National Laboratory, aiming for operational status by 2027. Oklo's innovative approach positions it as a leader in providing sustainable energy solutions for data centers and other energy-intensive industries.
Moltex Energy focuses on developing modular reactors with a strong emphasis on safety and efficiency. Their designs include a variety of SMR concepts that aim to provide reliable and low-cost energy. It is advancing the Stable Salt Reactor (SSR), which uses molten salt as both fuel and coolant. This design enhances safety and efficiency, with the SSR-W variant focusing on waste-burning capabilities to address nuclear waste management. The modular nature of the SSR allows for scalable deployment.
Rolls-Royce, traditionally known for its aerospace engines, is applying its engineering expertise to develop small modular reactors. Rolls-Royce is engineering a 470 MWe SMR, leveraging its expertise in precision engineering. The design emphasizes modular construction, allowing for factory fabrication and reduced on-site assembly time. This approach aims to lower costs and accelerate deployment timelines.
GE Hitachi Nuclear Energy (GEH), based in Wilmington, NC, is a long-standing leader in advanced nuclear technology. Its flagship innovation, the BWRX-300, is a 300 MW small modular boiling water reactor designed for carbon-free energy. Featuring passive cooling and natural circulation, it offers enhanced safety, a simplified design, and rapid deployment within 24–36 months—ideal for replacing coal plants.
The BWRX-300 cuts capital costs by up to 60% compared to traditional SMRs. In January 2024, GEH received a £33.6 million UK government grant to support clean energy expansion. GEH has 67 licensed reactors in 10 countries and holds over 6,600 global patents.
BWXT Technologies is set to build the first advanced nuclear microreactor in the U.S. under the Department of Defense’s Project Pele. Selected in 2022 by the DoD’s Strategic Capabilities Office, BWXT began construction in September 2024. The mobile microreactor is being developed for testing at Idaho National Laboratory (INL), with final assembly starting in February 2025 and delivery expected in 2026. This marks a major milestone in advancing compact, portable nuclear energy solutions for defense and remote applications.
Fusion Fuel is one of the emerging small modular reactor companies that is exploring the integration of fusion and small modular reactors to create a highly efficient and sustainable energy solution. Fusion Fuel is a company dedicated to advancing the green hydrogen revolution by developing innovative technologies that produce affordable, sustainable energy using only water and solar power. Their mission is to make green hydrogen more accessible, providing endless energy without carbon emissions.
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These Top 10 companies are leading the charge in Data center energy with SMR technology, as demand for sustainable, uninterrupted power grows, SMRs offer an innovative pathway to reliable, clean energy solutions.
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