The global threat of climate change is making the need for clean energy more urgent than ever. In the race to reach net-zero emissions and reduce reliance on fossil fuels, nuclear power is gaining increasing support.
Like conventional reactors, the smaller versions use nuclear fission technology, harnessing the thermal energy this produces to generate electricity with about one-third of the processing power of traditional nuclear plants.
The global market for SMRs is expected to be worth up to $300 billion by 2040.
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