Mentioned:
Constellation Energy is making a bet on something new: small modular reactors being built in America.
What’s happening:
- Constellation Energy’s (NASDAQ: CEG) venture capital arm has made a strategic equity investment into small modular reactor development company Blue Energy
Why it matters:
- This is the first time ever that Constellation Energy has made an investment into an American company developing small modular reactors
Going deeper:
- Blue Energy was founded by a team from the Nuclear Science and Engineering Department of the Massachusetts Institute of Technology and is developing prefabricated nuclear plants built around GE Vernova’s (NYSE: GEV) BWRX-300 small modular reactor
- Constellation Energy just recently made major waves on Wall Street when they struck a nuclear power purchase agreement with Walmart (NASDAQ: WMT) to provide them with roughly 176 megawatts of wholesale power supply
The fine print:
- The exact size of Constellation Energy’s investment into Blue Energy has not yet been publicly disclosed
