Environment

How GE Vernova plans to deploy small nuclear reactors across the developed world

Published

1 year ago

November 30, 2024

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GE Hitachi Nuclear Energy’s BWRX-300 small modular reactor incorporates proven components.

Courtesy: GE Verona

GE Vernova is aiming to deploy small nuclear reactors across the developed world over the next decade, staking out a leadership position in a budding technology that could play a central role in meeting surging electricity demand and reducing carbon dioxide emissions.

The company’s small modular reactor, or SMR, is designed to reduce the cost of building new nuclear plants, said Nicole Holmes, chief commercial officer at GE Vernova’s nuclear unit GE Hitachi.

GE Vernova is the spinoff of General Electric’s former energy business. The company’s stock has more than doubled since listing on the New York Stock Exchange last April, with investors seeing the Cambridge, Mass.-based company playing a key role in the future of the power industry through a portfolio of divisions that span nuclear, natural gas, wind and carbon capture.

The U.S. government wants to triple nuclear power by 2050 to shore up an electric grid that is under growing pressure from surging power demand. But large nuclear projects, in the U.S. at least, are notoriously plagued by multi-billion dollar budgets, cost overruns, delayed construction timelines and, sometimes, cancellations.

“Affordability has been the real challenge for nuclear through the many years,” Holmes told CNBC. “We’re beginning to crack that at this point.”

Simpler design

GE Vernova’s SMR, the BWRX-300, has a simpler design with fewer components and less concrete and steel compared to a larger nuclear plant, Holmes said. The reactor might cost somewhere in the range of $2 billion to $4 billion to build compared to $10 billion to $15 billion for a large nuclear plant, Holmes said.

The plant generates 300 megawatts of electricity, enough to power more than 200,000 U.S. households. The average reactor in the U.S. fleet has about 1,000 megawatts of power, enough for more than 700,000 homes. The smaller size offers more flexibility in terms of location, she said.

“You could put four of these on a site and get the same output as you would from a single large reactor,” the executive said. “You can have one started, deploying energy, making money while you build out others. It gives you a lot of optionality,” she said.

GE Vernova is targeting more than $2 billion in annual revenue from its small reactor business by the mid-2030s. That compares with total company revenue of $33.2 billion last year. GE Vernova sees demand for as many as 57 small reactors in total across its target markets in the U.S., Canada, the United Kingdom and Europe by 2035.

To hit that revenue target, GE Vernova would need to ship between three to four reactors per year, according to an October research note from Bank of America. The company could capture a 33% market share in its target markets, according to the bank.

“We’re underway building a strong order book in those target markets,” Holmes said. “A lot of the buyers in these early stages will be utilities.”

GE Vernova is also talking to major tech companies, which Holmes declined to name, that are showing a growing interest in nuclear power to meet electricity demand from their artificial intelligence data centers.

“We are in conversations with a lot of the big tech companies,” Holmes said. “I see a ton of interest from them in in new nuclear, and what it could do to meet some of their energy demands.”

North America deployments

GE Vernova signed a collaboration agreement in March 2023 with Ontario Power Generation, Tennessee Valley Authority and Synthos Green Energy in Poland to invest $500 million to kick start the BWRX-300 and launch the reactor at a commercial scale.

The goal is to create a standardized reactor design that can be deployed across GE Vernova’s target markets rather than building different nuclear plants at each site, Holmes said.

“We’re working on a plant that can be deployed in many, many places across many, many regulatory regimes and still be the same fundamental plant,” Holmes said. “They’re helping us with those requirements to make it the same,” she said of the collaboration partners.

GE Vernova is also seeing growing interest in expanding capacity at existing nuclear plants by adding small modular reactors, said Chief Financial Officer Kenneth Parks on the company’s Oct. 23 earnings call.

GE Vernova won the first commercial contract in North America to deploy a small modular reactor for Ontario Power in January 2023. Holmes described the project as the first commercial deployment of an SMR not only in North America, but also in the developed world.

The reactor is scheduled to come online in 2029 in Darlington on Lake Ontario about 60 miles east of Toronto. Ontario Power eventually plans to deploy three more BWRX-300 reactors at Darlington.

In the U.S., the Tennessee Valley Authority (TVA) is considering building a BWRX-300 at its Clinch River site a few miles from Oak Ridge National Laboratory.

TVA received the first early site permit in the nation from the Nuclear Regulatory Commission in 2019 for a small modular reactor at Clinch River. The power company has approved $350 million for the project so far, though its board has not made a final decision yet on whether to build a reactor.

TVA is pursuing small reactors because there is less financial risk tied to them compared to large 1,000 megawatt, or 1 gigawatt, size reactors, said Scott Hunnewell, vice president of TVA’s new nuclear program.

“If you have a gigawatt scale plant where your construction timeline starts at eight years and then gets longer, your interest expenses really start to accrue and really drive your cost up,” Hunnewell told CNBC. “The SMR just overall, it’s a smaller bite at the apple, a lot less risk associated with it.”

And TVA is already familiar with the boiling water technology of the BWRX-300, Hunnewell said. The power company operates three large GE boiling water reactors at its Browns Ferry site that use the same fuel that would power the BWRX-300.

“GE Hitachi is a known quantity,” Hunnewell said.

GE Vernova, Ontario Power, TVA and Synthos Green Energy will share lessons learned as they deploy reactors to further streamline the construction process, Holmes said.

The collaboration will also potentially benefit companies that are not part of the team. TVA plans to share information with any utility that is interested in learning from the power company’s experience as it seeks to deploy small reactors, Hunnewell said.

Tech sector interest

While the primary customers for the BWRX-300 are utilities, the tech sector is playing an increasingly influential role in reviving nuclear power after a long period of reactor shutdowns in the U.S. due to poor economics in the face of cheap and plentiful natural gas.

Microsoft signed 20-year power purchase agreement with Constellation Energy, which will provide long-term financial support to revive the Three Mile Island nuclear plant outside Harrisburg, Pennsylvania. Amazon and Alphabet’s Google made investments in small nuclear reactors in October.

Holmes doesn’t see the tech companies actually building and operating their own nuclear plants, but instead supporting the deployment of new reactors by purchasing dedicated power from utilities.

“As utilities think about deploying additional capacity, these large tech companies could be an off taker and agree to power purchase prices that support deployment of these early units and early technologies,” Holmes said.

The growing power needs of tech companies’ artificial intelligence data centers will be a “tremendous demand driver” for small nuclear reactors, the executive added.

Environment

Chinese Buick Electra EV may be coming to the US after all

Published

1 hour ago

December 13, 2025

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Chinese Buick Electra EV may be coming to the US after all

The Next Buick Grand National Should Be This Wicked Dual Motor EV

File this under “wishful thinking” if you want, but a fresh trademark filing for the Buick Electra name could mean that the storied nameplate is set for a return to US shores.

GM Authority reports that Buick parent company General Motors has renewed its trademark for the Buick Electra name in the US in a filing from 09DEC2025 with the United States Patent and Trademark Office (USPTO), and received an assigned serial number 99538079. The application carries a Goods and Services of, “Motor land vehicles, namely, automobiles.”

Electra a nameplate that holds a long history with the near-luxe Buick brand and has generally been believed to be one that’s especially relevant to Buick’s electrification strategy in the US. That’s a notion that seems especially true when you consider the following two facts:

the Buick Electra nameplate is already featured on a number of hugely successful GM products being sold in the ultra-competitive Chinese market
2027 is the fortieth anniversary of the Buick Grand National, and GM’s marketers are way too smart to let that moment slide

It’s worth noting, of course, that this most recent renewal for the Buick Electra trademark is a long, long way from a confirmation of a new all-electric Buick for the US market and even further from a confirmation that we’re getting the hot, sexy Electra GM sells in China. If anything, it’s likely just a matter of course legal thing that GM needs to protect its IP in China while, at the same time, preventing some kind of disastrous Sierra Mist scenario from playing out at home (which– yeah, I get that it’s not true, but you got the idea).

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That said, I want to believe.

Electrek’s Take

I’m a huge fan of GM, GM’s EVs, and the way Mary Barra has managed the General over the past several years. I also think a big, sexy sedan is sorely missing from GM’s lineup, and the fast, flashy electric sedan formula might play better at the Buick store than at the Cadillac brand.

Combine that with an overwhelming desire to see a new-age Buick Grand National parked in my garage next Christmas and you can see that I’m not to be trusted. So, what say you? Head on down to the comments and let us know what you think of an American Electra revival just in time for the 2027 model year.

SOURCE | IMAGES: GM Authority; GM.

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Environment

Vale, Caterpillar set to expand autonomous mining operation

Published

2 hours ago

December 13, 2025

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Vale, Caterpillar set to expand autonomous mining operation

Vale, Caterpillar & Sotreq sign agreement to expand fleet of autonomous trucks in the Northern System, in Pará

Heavy equipment giants Caterpillar have signed an agreement with Vale that will see the company dramatically expand its fleet of autonomous haul trucks deployed at iron ore operations in the Carajás region of Brazil over the next three years.

Vale’s Northern System mining operation currently has 14 CAT, 320-ton autonomous haul trucks in service. With this new deal, sold by Caterpillar’s Brazilian dealer, Sotreq, the autonomous haul truck fleet will expand to some ninety (!) of the massive, self-driving trucks by 2028. The big yellow trucks will be operated by CAT®, MineStar™ Command for hauling, and ship with a payload capacity of between 240 to an almost unimaginable 400 (!!) tons.

“We’re proud to introduce Cat Command for hauling at Vale’s Carajás site,” says Marc Cameron, Senior Vice President at Caterpillar. “By equipping Vale’s haul trucks with our autonomous technology, we will be delivering scalable solutions that meet their needs across a mixed fleet.”

CAT says this new deal represents, “a transformational leap,” citing the fact that autonomous trucks remove workers from hazardous areas and enable safer and more inclusive environments for mine employees – and more efficient operations for Vale.

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That fact is backed by results from other Vale operations that have deployed large numbers of autonomous vehicles, which saw gains of up to 15% in operational performance and a 7.5% reduction in fuel use (more with electric drive), contributing to the reduction of the company’s carbon emissions. And, because this is ~~end-stage capitalism~~ 2025, they’re crediting AI for discovering those efficiencies.

“By integrating autonomous systems, artificial intelligence, and advanced data analysis, we are modernizing our mining operations in the Northern Corridor, becoming a global benchmark in smart mining, promoting the transformation of the industry, and connecting us to international best practices,” says Rafael Bittar, Vale Vice President, Technical.

The trucks will be delivered over the next three years, and are expected to be in full operation and up to speed by 2030.

Electrek’s Take

Caterpillar and Luck Stone celebrate one million tons hauled autonomously at Bull Run Quarry — 240 electric haul truck; via Caterpillar.

As I’ve said before, EVs and mining to together like peanut butter and jelly. In confined spaces, the carbon emissions and ear-splitting noise made by conventional, ICE-powered mining equipment can create dangerous circumstances that can lead to serious injuries (or worse), and that’s just going to make it even harder for a mining operation to keep people working and minerals coming out of the ground.

By working with companies like Caterpillar to prove that forward-looking electric equipment can do the job as well as well as (if not better than) their internal combustion counterparts, Vale will go a long way towards converting what’s left of the ICE faithful.

SOURCE | IMAGES: Vale, Caterpillar.

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Environment

Motiv, Workhorse merge to take on the ICE establishment

Published

3 hours ago

December 13, 2025

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Motiv, Workhorse merge to take on the ICE establishment

Workhorse Group and Motiv Electric Trucks announce merger agreement

Electric medium-duty startups Motive and Workhorse have logged millions of miles across their customer fleets — and by joining forces, they’re out to prove, once and for all, that electric vehicles can get the job done.

Following shareholder votes last month, Ohio-based Workhorse and San Francisco-based Motive are merging to form one of the largest commercial electric vehicle and last-mile delivery telematics solutions companies in the industry.

The all-stock transaction, announced last week, values the combined company at approximately $105 million and is expected to close in the fourth quarter of 2025, subject to Workhorse shareholder approval.

Under the terms of the agreement, Motiv’s controlling investor will become the majority owner with approximately 62.5% of the combined company, while Workhorse shareholders will maintain a significant equity stake of approximately 26.5%.

FREIGHTWAVES

The move is intended to combine Workhorse’ manufacturing capabilities and nationwide dealer network with Motiv’s proven product portfolio and existing fleet relationships to serve the growing $23 billion medium-duty truck segment with a full range of Class 4-6 electric vehicles that plays to the strengths of both companies while, at the same time, proving them with economies of scale they’ll need to survive the next wave of fake “the EV market is dead” headlines.

“Bringing together two leading OEMs in the medium-duty space strengthens our ability to reduce the cost of electric trucks and make the total cost of ownership even more compelling,” said Scott Griffith, CEO of Motiv, who will lead the combined company. “We believe this is a coming-of-age moment — not just for Motiv and Workhorse, but for the industry as a whole.”

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The companies anticipate a minimum of $20 million in cost synergies by the end of 2026 through reductions in redundant R&D, G&A, and facility costs (and, of course, the associated layoffs).

Workhorse’s Union City facility has the capacity to eventually produce up to 5,000 trucks per year — a significant manufacturing scale for the merged operation and light years ahead of what Motiv’s existing facilities can crank out.

“This transaction represents a significant milestone for Workhorse, our customers, our stakeholders and our shareholders,” Rick Dauch, CEO of Workhorse and advisor to the new, combined company told FreightWaves. “We believe Motiv is the right partner to support the advancement of our combined product roadmap and capture new growth opportunities.”

The new, combined electric box van company will being life with 10 of the largest medium-duty fleets in North America as existing customers, and hopes to expand their line of offerings into the electric bus and RV markets in the years to come.

Electrek’s Take

FedEx Places First Order for 15 Workhorse W56 Step Vans to Grow Zero-Tailpipe Emission Fleet — Workhorse van deployed by FedEx; via Workhorse.

Workhorse and Motive can spin this merger however they like — but this move is as much about survival in the new, incentive-lite era of Trump 2 than it is about anything else. That doesn’t mean it’s not a smart move, as each of the parts of this new whole has eliminated a very strong competitor while, at the same time, gaining ~~all~~ at least some of their best features.

As cynical as I am about corporate consolidation and layoffs (especially during the holidays), I can’t help but think this could be a winning move.

SOURCE | IMAGES: Workhorse; via FreightWaves.

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