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Nuclear startups face new competition as energy giant Enel enters the ring

The new endeavor could put additional pressure on small modular reactor (SMR) startups that have struggled to build power plants.

The new Enel-Ansaldo-Leonardo endeavor and the deep pockets of its backers could put additional pressure on other small modular reactor (SMR) startups that have struggled to build power plants. Several are still in the design phase, and those that have emerged from it have run into roadblocks: Oklo had its permit application denied by the Nuclear Regulatory Commission in 2022, NuScale’s first contract was canceled in January, and X-Energy’s reverse merger failed in 2023. Flavio Cattaneo, Enel’s CEO, has said that the company has received between 40 to 50 letters of interest from parties hoping to build data centers in Italy.

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