Innovation Zero 2024, set for April 30-May 1, is the largest net zero conference in the United Kingdom, a nation that has opted to keep nuclear energy in its “green” portfolio. The government-sponsored event “provides a meeting place for announcements, partnerships, deal-making, and collaborations for those who develop, produce, deploy, and fund low-carbon solutions.”

Just two of the 40 speakers at the Innovation Zero 2024 Energy Forum will represent the nuclear energy industry – Michael Hewitt, CEO of Allied Nuclear Partners, and James Walker, CEO of NANO Nuclear Technology, which is also a cosponsor. Both the UK and the U.S. are bullish on nuclear energy as part of their decarbonization programs.

In a very positive review of the nuclear industry, National Public Radio quoted Tennessee Valley Authority President and CEO Jeff Lyash, “You can’t significantly reduce carbon emissions without nuclear power.”  

Likewise, Columbia Climate School dean Jason Bordoff questioned California’s plans to abandon nuclear energy. In his view, “We have to incorporate nuclear energy in a way that acknowledges it’s not risk-free” while admitting that “the risks of falling short of our climate goals exceed the risks of including nuclear energy.”

Today, there are no small or even micro nuclear reactors in operation in the U.S. or Europe even though these two technologies are the supposed “wave of the future.”

Walker admits that public sentiment for nuclear energy is the highest in decades. People should know, he said, that  “nuclear” combines zero carbon emissions with 24/7/365 reliability. Nuclear leads all energy sources in fewest deaths per trillion kilowatt-hours of generation. Moreover, nuclear is the only large-scale energy producing technology required to take full responsibility for all its waste and that fully includes waste management in its costs of operation.

A year ago, Casey Crownheart posed the question, “We were promised smaller nuclear reactors; where are they?” Crownheart said small modular reactors (SMRs), both cheaper and safer than full-sized reactors, could solve some major challenges of traditional nuclear power. NuScale in early 2023 was the first to receive final federal approval for its SMR design, but operational SMRs are still years from deployment.

In the UK, Rolls Royce is developing large-sized SMRs to supply the national grid, cities, towns, and possibly massive industrial processing facilities (chemical plants, for example) that require huge amounts of power. Microreactors are designed to serve a largely different clientele, such that SMRs are a complimentary, rather than a competing, technology.

Even more than SMRs, microreactors are fast becoming the rage among those seeking to decarbonize energy generation. Microreactor designs allow them to operate as part of the electric grid, independently of the grid, or as part of a microgrid to generate up to 20 megawatts thermal energy for both electricity generation and heat for industrial applications.

Walker was effusive about the “huge potential” for microreactors, starting with the “tens of thousands of mining operations running on diesel fuel.” Microreactors are 100 to 1,000 times smaller than conventional nuclear reactors and considerably smaller than SMRs. Most are designed to be portable, and many can be hauled from site to site in a semi-tractor-trailer.

This combination of reliability and operational flexibility makes microreactors an attractive choice at many, especially remote, locations that today rely on diesel generators.  Pursuant to a contract awarded in 2022, BWX Technologies, Inc., is scheduled to deliver the first advanced, transportable, nuclear microreactor prototype in the U.S. later this year for testing at the Idaho National Laboratory.

The potential customer base for these tiny reactors includes deployable mobile reactors, remote industrial and manufacturing projects, current and previously uneconomic mining sites, oil and gas projects, military bases, remote towns and communities, and small islands. Another valuable application is supplying emergency power following catastrophic events (tsunamis, earthquakes, hurricanes).

Walker noted that returning uneconomic mines to viability using inexpensive, clean energy creates the potential to free up huge deposits of mineral wealth. This is especially true for African nations whose huge mineral wealth is concentrated at locations inaccessible to existing electricity grids. Moreover, microreactors do not need daily supplies of diesel fuel.

Market research, said Walker, has identified over 100 remote settlements in Canada that today run exclusively on diesel fuel. Similarly, many countries – the Philippines, Indonesia, and Thailand, among others – have numerous small islands that rely on diesel fuel.  Microreactors can also service electric vehicle charging stations.

Another major area for potential growth is the shipping industry. The U.S. Navy has for decades powered aircraft carriers and submarines with nuclear fuel without incident and without carbon emissions. Yet oil tankers, shipping container vessels, and other large ships all use high-polluting bunker fuel. If the Navy can rely on nuclear energy, so can these ships.

The resurgence of interest in nuclear energy has prompted funding opportunities from both the federal government and private industry, but there are disconnects. The Department of Energy, says Walker, has allocated over a billion dollars this year toward rebuilding the U.S. nuclear infrastructure, with a primary strategy favoring supply-chain continuity.

The recent DOE enrichment RFP required bidders to have established relationships stretching from mining (or sourcing) of the uranium ore through conversion to enrichment; but this requirement alone excludes most nuclear energy system developers.

On the industry side, mining companies, tech companies, and large industrial processing companies are all examining and investing in nuclear solutions to power their operations with nuclear energy – but none are investing in early-stage prospective technologies. Instead, significant existing development supported by an established company with a strong technical workforce is a precondition for prospective partnerships.

On the positive side, said Walker, cryptocurrency miners have begun looking at nuclear energy to generate the massive power for mining economic quantities of cryptocurrencies. AI and data center companies are also looking at nuclear energy to power their operations, especially at remote locations. No prominent nuclear energy company has funded its development with cryptocurrencies, but this may soon change.

Walker says that NANO’s microreactors are expected to begin demonstration and physical test work this year. The hope is that working prototypes will be ready by 2027, with full licensing process by 2030. Manufacturing facilities would be constructed during the licensing phase to enable prompt deployment upon approval.

The best scenario would be that the regulators issue a general permit for the reactor design, so that multiple reactors could be deployed, moved to new locations, and piggybacked as needed without additional regulatory delays.

The best business model, says Walker, keeps the manufacturer as owner and operator of the reactors, selling power to customers. Dozens of microreactors can be operated from a central control room, employing only a few onsite personnel. This keeps operating and power costs low and ensures that the manufacturer retains responsibility for operation and maintenance, decommissioning, and liability insurance.

In sum, as development of microreactors continues, the primary hurdle may not be on the manufacturing end. Adapting the nuclear regulatory framework to accommodate microreactors, perhaps with a general permit structure, could be the key to revolutionizing electricity generation for industry, remote communities, and other applications without straining the electric grid or building massive new transmission infrastructure.

And that, said Walker, is what makes microreactors ideal for a green future.

This piece originally appeared at RealClearEnergy.org