These nuclear companies are leading the race to build advanced small reactors in the U.S.
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The nuclear industry is racing to launch advanced small reactors by the early 2030s, aiming to meet the deep-pocketed technology sector’s growing need for electricity to fuel artificial intelligence.
The world has relied largely on the same pressurized-water reactor technology for the past 70 years, but those plants have proven incredibly expensive to build in the U.S. in the 21st century.
The first new nuclear plant completed in decades, reactors 3 and 4 at Plant Vogtle in Georgia, infamously cost about $18 billion more than expected and opened seven years behind schedule. Each of those reactors can generate 1,114 megawatts of electricity, enough for more than 800,000 homes.
“Doing these new builds with that older, high pressure technology is just unaffordable,” Chris Levesque, CEO of TerraPower, an advanced reactor company co-founded and backed by Bill Gates, told CNBC.
Despite growing interest in restarting closed reactors, such as Palisades in Michigan and Three Mile Island in Pennsylvania, as a quicker and cheaper near-term solution, there remains “a whole lot of hesitation about a brand new plant,” Levesque said.
The advanced reactors under development promise to have smaller, lighter footprints that could make them cheaper and quicker to build when they are fully commercialized. But the industry is crowded with more than 90 different technologies in various stages of development around the world, according to the Nuclear Energy Agency.
The utility and tech sectors need to winnow down the field to five or 10 companies with the right technology, said John Ketchum, CEO of NextEra Energy, the largest power company by market capitalization in the U.S.
“A lot of them are under capitalized,” Ketchum said of the small nuclear startups designing advanced reactors. “So we’ve got to pick out the ones that we really want to get behind and make the bets,” the CEO said at the CERAWeek energy conference in Houston earlier this month.
Ketchum sees the first advanced reactor coming online around 2031 in the U.S., with more units potentially on the way around 2035. Technology companies will serve as a catalyst, with Levesque saying they are a “huge force” that can drive the industry forward due to their immense demand for electricity coupled with their deep pockets. Alphabet, Amazon, Meta and Microsoft together are worth seven times the value of the entire S&P 500 utility sector.
The following are some of the leading players in the U.S. market to revive nuclear power, all three of them private but with significant financial backing — often from tech companies — and customers already lined up.
TerraPower
TerraPower is the first advanced reactor company in the U.S. to move from design to construction, breaking ground on its first plant near a former coal site in Kemmerer, Wyoming in the summer of 2024. The company aims to start dispatching power by the end of 2030 to Warren Buffett’s PacifiCorp.
TerraPower’s Natrium reactor operates at atmospheric temperature, a feature that Levesque says will reduce construction costs.
The U.S. currently relies on reactors that operate at about 300 Celsius (572 degrees Fahrenheit) and are cooled by water. The system operates under high pressure — water boils at 100 degree Celsius — to keep the coolant liquid, and the plants need heavy, expensive components to contain the pressure, Levesque said.
TerraPower uses sodium, rather than water, as a coolant. Liquid sodium boils at 900 Celsius, much higher than the Natrium reactor’s operating temperature of around 500 Celsius. That means the plant does not need to be pressurized, Levesque said.
Using a low-pressure, lighter plant to avoid high pressure systems “reduces tons of steel, tons of concrete, labor hours, numbers of systems,” Levesque said. He estimates that Natrium plants will cost about half as much to build as a traditional nuclear plant, with prices coming down as more are built.
The Natrium reactor has a power capacity of 345 megawatts, enough for more than 250,000 homes. A plant will have the ability to ramp up to 500 megawatts for several hours by storing heat in a thermal battery made of molten salt, Levesque says. The idea is to be able to dispatch power on demand to the grid when renewable solar and wind power fade because the sun isn’t shinning or winds are slack.
TerraPower has the financial backing of its key founder Bill Gates, SK Group, one of South Korea’s largest energy providers, and ArcelorMittal, a steelmaker. Gates and SK Group led TerraPower’s $830 million funding round in 2022. The Wyoming project is backed by $2 billion from the Department of Energy, which TerraPower says it will match dollar for dollar.
TerraPower filed its construction license application with the Nuclear Regulatory Commission in 2024 and expects the regulator will issue a permit in December 2026.
“We’re trying to show folks we’re inevitable,” Levesque said.
X-Energy
Of all the advanced reactor companies, X-Energy is the first to win a direct investment from a tech company, securing hundreds of millions of dollars from Amazon to build its Xe-100 reactor.
“What this sector needs is risk capital to invest in plants because U.S. utilities aren’t doing it today,” X-Energy CEO Clay Sell told CNBC.
X-Energy’s most recent financing round raised $700 million, led by Amazon and with additional capital from Citadel founder Ken Griffin, Ares Management, Segra Capital Management, Jane Street Capital and the University of Michigan, among others.
“One of the largest corporations in America, a company that is in size larger than the entirety of the investor-owned utility sector in the U.S., was stepping forward and saying we want to facilitate the new nuclear future in the United States,” Sell said of Amazon’s investment.
The cash will largely go to completing the reactor design so it’s ready for construction, and finishing the first phase of X-Energy’s fuel facility, Sell said.
The Xe-100 is an 80 megawatt reactor sold in a pack of four units to construct 320 megawatts in total, the CEO said. The multiple units create redundancy and the small size allows the biggest component, the reactor vessel, to ship from a factory via road to the construction site, Sell said.
The reactor uses helium gas as a coolant rather than water. X-Energy has its own proprietary fuel made of graphite pebbles that contain uranium kernels encased in ceramic. Sell said the graphite can’t melt, which makes the plant “intrinsically safe.”
Amazon’s investment will finance four Xe-100 reactors in Washington state that will be built, owned and operated by Energy Northwest, a utility, with plants coming online in the early 2030s. The intent is to scale up to a dozen Xe-100s in Washington, Sell said.
X-Energy is also working with Dow Inc. to deploy four reactors at the chemical company’s manufacturing facility in Seadrift, Texas. The Department of Energy has awarded X-Energy up to $1.2 billion to develop and deploy its technoloy.
X-Energy aims to become the first company to commission an operational advanced reactor in the U.S., Sell said.
Kairos Power
Kairos Power signed a contract with Alphabet’s Google unit last year to deploy multiple, advanced reactors, aiming to supply the YouTube company with 500 megawatts of power. The first reactor is expected to come online in 2030, with additional deployments through 2035.
Financial terms of the deal weren’t disclosed, but the Google contract is “immensely important,” allowing Kairos to “plan the infrastructure not just for one project but for a series of projects,” CEO Mike Laufer told CNBC.
“It allows us to scale our infrastructure, production — our manufacturing capabilities,” Laufer said.
The 75-megawatt Kairos’ reactor will be deployed in pairs to provide 150 megawatts of total power. Similar to TerraPower, Kairos’ reactor operates at near atmospheric pressure using molten fluoride salt instead of water as coolant. Like X-Energy, Kairos uses fuel that encases uranium kernels in ceramic and graphite pebbles that can’t melt in high-temperature reactors, according to the company.
Kairos is building a low-power, demonstration reactor in Oak Ridge, Tennessee to showcase its ability “to deliver clean, safe, and affordable nuclear heat.” Oak Ridge, site of a national laboratory about 25 miles west of Knoxville, was where uranium was enriched as part of the Manhattan Project to build the first atomic bombs.
Today, there will be a “natural thinning” in the number of advance reactor companies, Kairos CEO Laufer said: “It’s going to be driven by who can actually be in a position to execute projects,” he said.
We’ve got good news – EV lease prices look much better than expected, despite the end of the federal tax credit and 25% import tariff being in place. Prices have crept up compared to last month, but several automakers have stepped in to fill the gap by covering the $7,500 credit themselves or adding extra incentives – and the price of one EV even dropped. Here are October’s top EV lease deals, spotted by our friends at CarsDirect.
2025 Hyundai IONIQ 5 lease from $189/month
The updated 2025 Hyundai IONIQ 5 SE RWD Standard Range remains one of the standout EV lease deals this month, holding steady even after the end of the federal EV tax credit and new import tariffs. Through November 3, you can lease one for $189 a month for 36 months (10,000 miles per year) with $3,999 due at signing. That works out to an effective monthly cost of about $300 – just $40 more than September.
The price bump is far smaller than many expected, especially with Hyundai’s $17,000 in lease cash factored in. And if you’re tempted by an upgrade, the SEL RWD trim is just $50 more per month under the same terms. You’ll get a model that’s roughly $7,000 more in value and $18,750 in savings.
The IONIQ 5 SE RWD Standard Range offers an EPA-estimated 245 miles of range, and this particular offer is available in the Los Angeles and greater California metro areas.
Click here to find a local dealer that may have the Hyundai IONIQ 5 in stock. –trusted affiliate link
2025 Hyundai IONIQ 6 lease from $189/month
The 2025 Hyundai IONIQ 6 SE RWD Standard Range is tied with its sibling for the most affordable EV lease deal this month, offering standout value even after the federal EV tax credit ended. In the California metro area, you can lease it for $189 per month for 36 months (10,000 miles per year) with $3,999 due at signing, and Hyundai is sweetening the deal with $13,250 in lease cash.
That brings the effective monthly cost to around $300, which is only $20 more than last month when the tax credit was still active. With an EPA-estimated 240 miles of range, 149 horsepower, fast-charging capabilities, and a sleek, distinctive design, the IONIQ 6 remains a fan favorite. This offer is valid through November 3.
Click here to find a local dealer that may have the Hyundai IONIQ 6 in stock. –trusted affiliate link
2025 Kia Niro lease from $209/month
The 2025 Kia Niro Wind EV returns to our top 5 this month with an impressive regional lease deal. You can lease the Niro Wind EV for $209 per month for 24 months (10,000 miles per year) with $3,999 due at signing. The offer includes $11,800 in lease cash and $14,940 in total savings, bringing the effective monthly cost to about $376. That’s about $80 more per month than September’s tax credit-incentivized deal at $129, but it’s still a solid offer given the policy changes.
This deal is available to California, Colorado, Oregon, and Washington residents through November 3.
Click here to find a local dealer that may have the Kia Niro in stock. –trusted affiliate link
2025 Ford Mustang Mach-E from $219/month
The 2025 Ford Mustang Mach-E Select RWD with Package 100A is offering bigger savings this month, making it an even stronger pick for EV shoppers. Known for its premium design and an EPA-estimated 300 miles of range, the Mach-E remains a favorite among drivers who want style and substance.
You can now lease it for $219 per month for 24 months (10,500 miles per year) with $4,499 due at signing. That’s $20 less per month than September’s advertised deal, though the term is shorter. With an effective monthly cost of about $406, it’s only $45 more than last month, a smaller jump than many expected.
The offer includes $6,750 in lease cash for qualified lessees, plus a free Ford Charging Station Pro with complimentary home installation – a rare perk. If you already have a home charger, you can choose an extra $2,000 in bonus cash instead.
This deal is currently available in California through January 5, 2026. Ford found a clever workaround to extend the tax credit for leases through Ford Credit until December 31, 2025. GM also has a similar program.
Click here to find a local dealer that may have the Ford Mustang Mach-E in stock. –trusted affiliate link
2025 Chevrolet Equinox from $269/month
Through November 3, you can lease the 2025 Chevrolet Equinox EV 2LT for $269 per month for 24 months (10,000 miles per year) with just $679 due at signing – one of the lowest upfront costs we’ve seen lately. That works out to an effective monthly cost of around $297. It’s got a quirk, though – this deal excludes Black Cloth Seats.
This is one of the rare EVs to see a price drop in the post-tax-credit era. Compared to September’s offer of $309 a month with $2,609 due at signing, this Chevy Equinox lease is $121 cheaper in effective monthly cost.
The deal is available nationwide for current Chevrolet lessees or those switching from another brand, and it includes a $2,250 loyalty or conquest bonus on top of $1,750 in lease cash. Want to drive away with the newest model? You can upgrade for just $30 more per month.
With an EPA-estimated 319 miles of range, the 2025 Equinox EV 2LT offers solid value for drivers looking to get into Chevy’s newest electric SUV.
Click here to find a local dealer that may have the Chevrolet Equinox in stock. –trusted affiliate link
Read more: From $0 a month: 5 of the best EV lease deals in September
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Nissan is tossing around the idea of a new Nissan LEAF NISMO again, but this time it will be based the newly upgraded version.
Is Nissan launching a new LEAF NISMO EV?
I know, we’ve all heard this one before. Nissan has been talking about launching a LEAF NISMO for years now. And it has released limited edition versions for select markets, but there’s still no production LEAF NISMO available.
According to Christian Spencer, Nissan’s senior marketing manager, there’s a reason for that. Spencer told Carscoops that “The NISMO brand has a lot of variation across the globe.”
He pointed out that in Japan, “NISMO has a lot deeper roots in some of the electric vehicles,”like the Ariya SUV, which is already on sale in Nissan’s home market.
In the US, the brand tries to “focus a little bit more just because the driving enviroment is different.” While Japan gets the NISMO models, Nissan’s performance cars in the US are mostly Z or GT-R versions.
The streets in Japan are smaller and steeper, “so the meaning for NISMO varies a little bit,” Spencer explained. But, he hinted NISMO could make a comeback in the US, starting with the newly upgrade LEAF.
Spencer said that “If we see that demand from the customer base, we’re going to follow it.” Again, this isn’t the first (or likely last) we’ve heard Nissan is planning to launch a LEAF Nismo, but it is for the newly upgraded model introduced this year.
Nissan said the new 2026 LEAF has “the lowest starting MSRP for any new EV currently on sale in the US” starting at just $29,990.
That’s even cheaper than the OG LEAF, launched in 2011 for $32,780 despite the upgrades. The new LEAF now has a new crossover SUV-like design, over 300 miles driving range, and an NACS port to recharge at Tesla Superchargers.
Will it be next in line for the NISMO treatment? It could make for an affordable performance EV to rival the Hyundai IONIQ 5 N or Tesla Model Y. The question is… will it sell?
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Love it or hate it, the Kia Soul always stood out with its funky, box-like design. Kia is dropping the infamous box car from its lineup at the end of 2025, but promises more exciting vehicles will replace it.
Kia is retiring the Soul box car after the 2025 model year
Who could forget the dancing hamster commercials Kia put out over a decade ago? The Soul was the star in some of Kia’s best marketing ads, but it won’t be offered as a 2026 model year.
Kia is retiring the Soul at the end of the year as it prepares for a new generation of electric and hybrid vehicles., Although Kia’s lineup will be Soul-less next year, the company is promising to replace it with even more exciting cars.
The funky box car was “a cornerstone in Kia gaining a foothold in the United States,” according to Eric Watson, Kia America’s VP of sales.
Kia is on track for its third consecutive sales record in the US and its highest market share ever. Watson said the Soul helped the brand achieve its early success, but is “equally excited for the future of Kia’s expansive and award-winning utility vehicle lineup.”
The Soul was Kia’s most affordable vehicle in the US for the 2025 model year, starting at just $21,935. Next year, the K4 sedan will take its place, starting at a slightly higher price of $23,165.
Kia is also launching the electric version, the EV4, in early 2026. Although prices have yet to be confirmed, the electric sedan is expected to start at around $35,000 to $40,000.
The EV4 will join the updated EV6 and EV9 in Kia’s expanding lineup. Both the EV6 and EV9 are assembled at Kia’s plant in Georgia.
The EV3, Kia’s compact electric SUV, is also expected to launch in the US sometime in 2026. Prices and an official launch date have yet to be confirmed, but the smaller electric SUV will likely start at around $30,000 to $35,000.
Kia’s EV3 is already among the top-selling electric vehicles in the UK, Europe, and other overseas markets. The company also offers some of the top-selling hybrids in the US, including the Niro, Sportage, and Sorento, which will help fill the gap left by the Soul.
Kia plans to end Soul production in October with just a few thousand models remaining at dealers. These will be the last few sold in the US as Kia prepares to revamp its lineup in 2026.
What do you think of the move? Are you sad to see the Soul go? Let us know in the comments.
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