Global energy needs are growing, not shrinking.

Plus, with this summer having been the hottest on record, climate changes are dictating BIG decisions from companies around the world.

And these companies are increasingly turning to nuclear energy as a way to provide clean, affordable energy for all.

That’s why SMR technology is about to boom!

What Is SMR?

SMR stands for “small modular reactor.” It refers to a type of nuclear reactor that is smaller than traditional reactors and has a modular design.

SMRs are seen as a potential solution to some of the challenges associated with traditional nuclear reactors.

Let’s go over several reasons this technology is being pursued.

Size

SMRs are designed to be smaller and more compact than traditional nuclear reactors, making them suitable for a wider range of locations, including remote areas and smaller power grids. Their smaller size also allows them to be manufactured in a more manageable fashion and assembled on site.

Modular Design

SMRs’ modular design allows for easier construction and scalability, as additional modules can be added to increase power output as needed.

Safety

SMRs often incorporate advanced safety features, such as passive cooling systems, to enhance their safety profile.

Reduced Capital Costs

Due to their smaller size and modular construction, SMRs may have lower upfront capital costs than traditional reactors.

Potential Uses

SMRs can be used for electricity generation, district heating, desalination and other industrial processes.

YOUR ACTION PLAN

These SMRs have massive potential to provide clean, affordable energy for all, and production could significantly ramp up within the next five years. I’ve been following one company in particular that’s been shortlisted for SMR projects – this under-$3 company has developed a radically different approach to delivering nuclear power, and it could be chosen for production as early as 2024.

To learn more about this front-runner for SMRs, click here.

FUN FACT FRIDAY

The Birth of “Pick and Shovel” Wealth. During the gold rush of the mid-1800s, gold miners in San Francisco reportedly paid $1 apiece for eggs (that’s roughly $90 per egg in today’s dollars). These kinds of super-inflated costs gave birth to the idea that the best way to get rich during a gold rush was selling picks, shovels and other necessary items – rather than actually striking gold. Nobody capitalized on this concept better than German immigrant Levi Strauss, who made a business out of selling tough, rugged pants to gold miners. Today, Levi Strauss (LEVI) trades at a market cap of $5.25 billion.