Italian company Newcleo, specialised in Small Modular Reactors (SMRs), is reassessing its deployment strategy. It is considering transferring to the United States a programme initially planned in the United Kingdom, estimated at €16bn ($19bn). The project involves the construction of 20 reactors, each representing a unit investment of €800mn, according to Newcleo Chief Executive Officer Stefano Buono, speaking on the sidelines of the World Nuclear Exhibition (WNE) in Paris.
The decision, still under evaluation, reflects a shifting dynamic between the two continents. In the United States, an executive order signed in May by President Donald Trump aims to accelerate domestic nuclear development by simplifying regulations and expediting permitting. By contrast, the deployment of nuclear infrastructure in Europe faces longer administrative timelines, viewed as excessive by industry stakeholders.
The United States draws European nuclear players
The favourable US regulatory environment is also attracting other players in the sector. Franco-Dutch firm Thorizon, active in the SMR segment, is also exploring a US-based setup to reduce commissioning timeframes. International competition is intensifying, as China has already built its first SMR and Canada is advancing prototypes at the Pickering nuclear plant.
The strategic reorientation is not limited to reactor manufacturers. European nuclear fuel producers such as French group Orano and multinational Urenco have both announced expansion plans in the United States. This move comes in response to growing demand, driven by the renewed interest in nuclear power as part of long-term procurement strategies by American firms.
Heavy investments to capture US demand
Urenco, already operating a facility in New Mexico with an annual output of 4.3 million tonnes of uranium, plans to add another 700,000 tonnes by 2027. The company says it could scale capacity to 6.3 million tonnes based on future demand. Chief Executive Officer Boris Schucht noted that Urenco is backed by long-term contracts with US clients, supporting the development of this programme.
Orano, for its part, plans to invest between $4bn and $5bn in its first overseas enrichment facility, to be located in Tennessee. The plant is scheduled for commissioning in 2031, pending the approval of federal subsidies. Chief Executive Officer Nicolas Maes indicated that the US market could surpass France in terms of business volume for the company.
