Trump, Starmer To Sign US-UK Nuclear Deal To Expedite Small Reactor Deployments

The U.S. and UK are set to sign a deal that will bolster the deployment of new nuclear power stations, the British government said.

The agreement is expected to be signed by British Prime Minister Keir Starmer and U.S. President Donald Trump during the latter's two-day visit to the UK beginning Tuesday. Among other things, the deal will simplify the process for obtaining a license for a nuclear project, expediting the timeline from about three to four years to two years.

“Together with the U.S., we're building a golden age of nuclear that puts both countries at the forefront of global innovation and investment,” Starmer said in a statement.

Among major tie-ups, U.S.-based X-Energy and Britain's Centrica are planning to build up to 12 advanced modular reactors in Hartlepool, in the northeast of England. The companies projected that the Hartlepool project will generate enough power for up to 1.5 million homes and deliver an economic value of at least 40 billion pounds ($54.2 billion).

“Together, we aim to build a fleet that will reliably deliver clean power, strengthen energy security, and grow the trans-Atlantic economy for decades to come,” J. Clay Sell, CEO of X-Energy said.

Separately, U.S. firm Holtec International, France's EDF and real estate firm Tritax, plan to develop advanced data centres powered by small modular reactors at the former Cottam coal-fired power station in Nottinghamshire. Holtec estimated that the project is valued at 11 billion pounds and will create thousands of construction jobs.

The U.S. and UK are also exploring a ramp-up of the production of high-assay low-enriched uranium (HALEU) to reduce their reliance on Russia.  

Bill Gates-backed TerraPower and U.S.-based engineering firm KBR also plan to conduct studies and evaluate sites in the UK for the deployment of the Natrium advanced reactor technology.

Retail sentiment on Stocktwits about KBR was in the 'neutral' territory at the time of writing, while traders were bullish about the VanEck Uranium Nuclear Energy ETF.

The renewed push in nuclear comes amid a surge in global electricity demand, driven by AI data centers. In November last year, the UK and 30 other countries agreed to triple their nuclear capacity by 2050.

Power equipment maker GE Vernova also welcomed the development and noted that regulatory simplification and harmonisation will help to reduce costs and speed up the construction of the“first wave of SMR plants.”

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