Welcome to Nuclear Update, the newsletter with more energy than a supercritical reactor.

This is what I've got for you this week:

• 🇨🇦 Canada Launches a National Nuclear Strategy (and backs it with cash)

• 🇧🇪 Belgium Is Buying Back Its Nuclear Plants

• ⚖️ The NRC Proposes a Dedicated Licensing Lane for Microreactors

• 🔌 A Fusion Company Just Applied to Plug Into the Grid

But first, this week’s trivia question:

Last week, I asked: 

What does the “fast” in “fast neutron reactor” actually refer to?

You said:

🟥⬜️⬜️⬜️⬜️⬜️ How quickly the reactor produces electricity (4.2%)

🟩🟩🟩🟩⬜️⬜️ The speed of the neutrons causing fission (65.3%)

🟥⬜️⬜️⬜️⬜️⬜️ How fast the fuel gets used up (2.4%)

🟥🟥⬜️⬜️⬜️⬜️ The rate of the chain reaction (28.1%)

My apologies option D sounded very similar to the correct answer B. Was not my intention to mislead you. Will do better.

Now, let’s dive into the good stuff! 💥

🇨🇦 Canada Launches a National Nuclear Strategy (and backs it with cash)

Canada has a reputation for being polite and quiet.

But this week it was loud.

At the Canadian Nuclear Association conference on April 29^th, Natural Resources Minister Tim Hodgson announced a new national nuclear strategy.

1. New builds

2. New exports

3. Uranium chain expansion

4. Fission plus fusion innovation

Watch the announcement below.

The Department of National Defence is putting up $40 million for a Canadian controlled military microreactor for Arctic bases.

Remote radar stations and forward operating posts currently running on diesel convoys through some of the world's most unforgiving terrain.

A reactor that runs for years without a fuel resupply changes the logistics math entirely.

The strategy also puts Canada's uranium sector front and center.

Canada is one of the world's largest uranium producers, and a national strategy built on new builds, exports, and fuel cycle expansion is a direct signal to that industry.

The timing makes sense.

Global nuclear capacity additions are accelerating, new reactor contracts are being signed across Europe and Asia, and demand for uranium and nuclear fuel services is building.

Canada is positioning to be a supplier and builder.

The full strategy lands before year end but the Arctic microreactor money is already committed.

[Want to know how to position around uranium demand before the rest of the market figures it out? That's exactly what we cover every week in Nuclear Update Premium]

Join Premium today.

🇧🇪 Belgium Is Buying Back Its Nuclear Plants

Belgium passed a nuclear phaseout law in 2003, mandating all of their seven reactors be shut down by 2025.

Five of them have since been closed down in recent years.

But in 2022, the energy crisis forced the government to extend the two remaining plants by 10 years.

And now the governement has decided they want the whole fleet back.

Last week, on April 30^th, the government announced it's in talks with Engie (the company that owns the seven reactors) to take over all of its nuclear assets.

This includes plants that were actively being decommissioned.

Full due diligence runs through October. Financial terms haven't been disclosed, though the ageing reactors are reportedly considered to have limited market value.

Belgium might be getting them cheap.

Belgian Prime Minister Bart De Wever put it simply, "The government is making the choice of having a secure, affordable and long-lasting source of energy."

Germany reversed its phaseout. Japan restarted its fleet. California kept Diablo Canyon open.

Turns out nuclear doesn’t really do retirement.

⚖️ The NRC Just Gave Microreactors Their Own Lane

U.S. nuclear licensing rules are organized into numbered parts.

Part 50 was written for large traditional reactors.

Part 53, which went into effect last week, covers advanced reactors broadly.

And on April 27^th, the NRC proposed Part 57. The first framework built specifically for microreactors.

The two biggest changes:

Factory-build licenses.

Microreactor companies want to build reactors in a factory like a product and then ship them wherever they're needed. Under the old rules, you'd need a separate license for every single location.

Part 57 lets you license the design once at the factory level, then handle the site paperwork separately when you ship it somewhere.

Fleet licensing.

Build ten identical reactors, get them approved as a group. Same reactor, same engineering. You shouldn't have to prove it to the NRC ten separate times.

This DOE video provides a good introduction to microreactors.

The NRC projects $3.76 to $11.84 billion industry savings and timelines cut by 6 to 12 months.

Federal Register publication is slated for May 6^th.

🔌 A Fusion Company Just Applied to Plug Into the Grid

Commonwealth Fusion Systems, which is backed by Google, just submitted a grid interconnection application to PJM Interconnection.

They’re the largest competitive wholesale electricity market in the U.S., covering 13 states and 65 million customers.

Their ARC fusion plant is planned for Virginia. Google has a 200 MW offtake agreement (basically a promise to buy power before the plant even exists) in place.

Google is saying to Commonwealth Fusion, "when your fusion plant turns on, we'll buy 200 MW of electricity from it."

An interconnection application kicks off engineering studies that take four to six years to process. A bit of a wait but if that timeline holds, we should have fusion power in Virginia by the early 2030s.

⚡ Quick Hits

⚗️ ARPA-E offers $50M to turn weapons plutonium into reactor fuel. Surplus defense-grade plutonium, meet advanced reactor. [Read more]

⚡ Fusion startup Zap Energy adds a fission reactor. First company to formally pursue both. 10 MW sodium-cooled microreactor, early 2030s target. [Read more]

🚀 DOE's Nuclear Energy Launch Pad picks its first 4 companies. Deployable Energy, General Matter, NuCube Energy, and Radiant get sandbox access at Idaho National Laboratory. No government cash, developers fund themselves. Second round open, deadline July 8. [Read More]

🇮🇱 Israeli firms sign fusion-for-water deal. nT-Tao and national water company Mekorot signed an MOU to power desalination plants with compact 20 MW fusion systems. Feasibility work starts in 2026. [Read more]

💪Review of the Week

DISCLAIMER: The content in this article is for informational and educational purposes only and is not financial advice. It should not be interpreted as a recommendation or solicitation to buy or sell any securities. Markets move quickly, opinions can change, and outcomes are uncertain. Always consult a licensed professional before making any investment decisions. Nuclear Update and its authors are not responsible for any gains or losses arising from the use of this information.