The nuclear energy sector is witnessing a significant shift, with small modular reactors (SMRs) emerging as a promising frontier. Lucas Mir, Junior Energy Analyst at the Nuclear Energy Agency (NEA), has delved into recent NEA analysis, revealing a surge in global interest and progress in SMR development. This trend is not merely a technological evolution but a potential game-changer in the quest for deep decarbonisation and energy security.
The NEA’s analysis paints a picture of a truly global endeavour. SMR projects are sprouting in almost every region, from established economies to emerging markets, each with unique applications. The principal hurdles, however, remain the qualification and licensing of new technologies and innovative fuels. Yet, the demand for these technologies is robust, suggesting widespread deployment in the coming years.
The NEA’s ongoing analysis, part of a broader effort to monitor and evaluate SMR progress, has culminated in the third edition of the NEA Small Modular Reactor Dashboard, released in July 2025. This edition, along with a new interactive online tool, the NEA Small Modular Reactor Digital Dashboard, provides a comprehensive overview of 74 SMR designs out of 127 identified globally. These designs were chosen based on the availability of publicly accessible information and the willingness of designers to participate.
Geographically, the SMR landscape is diverse. Seven designs are either operational or under construction, with a strong pipeline of projects progressing toward first-of-a-kind deployment. The analysis reveals that 51 SMR designs are involved in pre-licensing or licensing processes across 15 countries, with approximately 85 active discussions between SMR developers and site owners worldwide.
Financing and supply chain readiness have also seen significant progress. There’s been an 81% rise in SMR designs confirming financing announcements since the previous edition of the Dashboard. This influx of capital, totaling approximately $15.4bn (in 2023 USD), is catalysing progress in supply chain development and early-stage manufacturing capabilities.
Unlike traditional large-scale nuclear power plants, SMRs are attracting particular interest from the private sector. A vibrant startup culture surrounds their development, with large corporations, particularly in technology and heavy industry, exploring SMRs as sources of clean, reliable power and heat. The United States, for instance, is home to the greatest diversity of site owners, reflecting a broad spectrum of stakeholders engaged in SMR deployment.
The technical characteristics of SMRs, including their concepts, configurations, neutron spectrums, sizes, and temperatures, enable them to broaden the traditional market of nuclear energy. Some designs may be particularly suited to provide heat to industrial sectors, while others may be better suited to provide reliable electricity production in remote or offshore locations. Some technologies may also be used specifically for non-power applications, including producing medical isotopes or reducing or recycling radioactive waste.
However, challenges persist. A majority of the SMR designs reviewed require high-assay low-enriched uranium (HALEU), with availability remaining a significant barrier to deployment. Additionally, the novelty and diversity of SMR designs mark a significant departure from established regulatory experience, requiring careful analyses backed by test data and validated codes and simulation tools.
Waste management is another critical enabling condition for SMR deployment. While some advanced SMR designs aim to reuse fuel from traditional nuclear reactors, reducing the volume of high-level nuclear waste, there’s insufficient available information to assess progress in waste management planning and readiness for end-of-life cycle management.
The sheer number and variety of SMR designs being tested and developed worldwide necessitate ongoing analysis. The NEA will continue to gather data and publish analysis as more verifiable information becomes available, feeding into future editions of the NEA SMR Dashboard and the NEA SMR Digital Dashboard on a rolling basis.
This news shapes the development of the nuclear energy sector by highlighting the potential of SMRs to support deep decarbonisation and energy security. It also underscores the need for continued monitoring and analysis to assess the progress made toward actual deployment of these new technologies. The rise of SMRs is not just a technological shift but a potential paradigm shift in how we approach nuclear energy, with implications for policymakers, regulators, investors, and industry professionals alike. The journey towards widespread SMR deployment is complex and fraught with challenges, but the potential rewards are significant, making it a story worth watching closely.