OKLOAurora+15MW.SMRSMRVOYGR+77MW.NuScaleNNENano Nuclear+Micro.ReactorLTBRLightbridge+Fuel.TechLEUCentrus+HALEU.ProdCCJCameco+Uranium.SupplyUECUranium Energy+U3O8.MiningCEGConstellation+TMI.RestartGEVGE Vernova+BWRX-300BWXBWXT+TRISO.FuelFUND.YTD2025-26$2.5B+.Raised
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REGULATORY INTELLIGENCE // NRC LICENSING PIPELINE

SMR NRC Approval Tracker: Every Reactor in the Pipeline

As of March 2026, NuScale Power remains the only SMR with full NRC design certification (77 MWe US460, SDA May 2025). TerraPower's Natrium is the most advanced new-build in NRC review, with a Construction Permit application under active review for the 345 MWe Kemmerer, Wyoming demonstration plant. Kairos Power received a construction permit for its Hermes test reactor in Oak Ridge, Tennessee. The BWRX-300 is under construction in Canada under CNSC regulation and is expected to pursue US NRC licensing for subsequent deployments. This tracker covers every SMR design in the NRC pipeline, from pre-application engagement through certified designs.

31 Reactors Tracked
2 Certified/Approved
8 Under Construction
21 In Licensing/Review
Last updated: March 2026 · Regulatory Intelligence →

NRC LICENSING PIPELINE

REACTORDEVELOPERMWETYPENRC/REGULATORY STATUSTARGET OPERATIONPHASE
VOYGRNuScale Power77 MWepwrNRC SDA Approved (77 MWe, May 2025)2030Certified/Approved
KaleidosRadiant Industries1 MWemicroreactorDOE DARK Approved2028Certified/Approved
BWRX-300GE Hitachi / GE Vernova300 MWebwrCNSC Licence to Construct (April 2025); NRC CP application under review (TVA Clinch River)2029Construction
NatriumTerraPower345 MWesfrNRC Construction Permit Received (March 2026)2030Construction
HermesKairos Power0 MWefhrNRC Construction Permit (Dec 2024), Nuclear Construction Started2027Construction
Aalo-X (XMR)Aalo Atomics10 MWepwrDOE Reactor Pilot Program (not NRC commercial license)2026In Licensing
Ward 250Valar Atomics MWehtgrDOE Reactor Pilot Program — Ground broken Sept 20252026In Licensing
Antares R1Antares Nuclear1 MWehtgrDOE Reactor Pilot Program — Ground brokenJul 2026In Licensing
Gravity ReactorDeep Fission15 MWepwrDOE Reactor Pilot Program — Drilling underwayJul 2026In Licensing
MSR-1Natura Resources0 MWemsrNRC Construction Permit Received (Sept 2024)2026Construction
SMR-300Holtec International300 MWepwrNRC CP Application Submitted (Dec 2025)2032Under Review
AP300Westinghouse Electric330 MWepwrNRC Pre-Application2033In Licensing
KP-FHRKairos Power75 MWefhrPre-Application2030In Licensing
IMSRTerrestrial Energy195 MWemsrCNSC Phase 2 VDR Completed / NRC Pre-Application2032In Licensing
Xe-100X-energy80 MWehtgrNRC CP Application Under Review2030Under Review
Westinghouse LFRWestinghouse Electric450 MWelfrUK AMR Phase 2 / NRC Pre-ApplicationIn Licensing
Aurora PowerhouseOklo Inc.15 MWesfrGround Broken at INL (Sept 2025)2028In Licensing
Micro Modular Reactor (MMR)Ultra Safe Nuclear5 MWehtgrCNSC Pre-Licensing2030In Licensing
eVinciWestinghouse Electric5 MWemicroreactorNRC Pre-Licensing2028In Licensing
KRONOSNano Nuclear Energy1 MWehtgrPre-Licensing (US and Canada)In Licensing
PWR-20Last Energy20 MWepwrNRC Early Site Permit In Preparation2030In Licensing
ThorCon MSRThorCon250 MWemsrEarly DevelopmentIn Licensing
MCSFRElysium Industries MWemsrEarly DevelopmentIn Licensing
BANRBWX Technologies MWemicroreactorDOD Development (Project Pele)In Licensing
PWR-5Last Energy5 MWepwrDOE Reactor Pilot Program2028In Licensing
Aalo PodAalo Atomics50 MWepwrIn Development2027In Licensing
NovaValar Atomics MWehtgrCold criticality achieved Nov 17, 20252025In Licensing
MSR-100Natura Resources100 MWemsrIn Development2030sIn Licensing
Project PeleBWX Technologies5 MWehtgrDOD Development — Core Delivered Dec 20252028In Licensing
EM2General Atomics265 MWegcfrIn DevelopmentIn Licensing
Standard Nuclear Fuel FabricationStandard Nuclear MWefuel-facilityProducing since Jan 20262026In Licensing

LICENSING DETAILS BY REACTOR

VOYGR by NuScale Power
77 MWeTarget: 2030
NRC SDA Approved (77 MWe, May 2025)

The only SMR with NRC design certification. Uprated 77 MWe US460 design received Standard Design Approval May 2025. Deployments planned in Romania (RoPower 462 MWe) and Poland.

Kaleidos by Radiant Industries
1 MWeTarget: 2028
DOE DARK Approved

1 MWe portable microreactor. DOE DARK safety documentation approved Feb 2026. Criticality target July 4, 2026 at INL DOME test bed. R-50 factory in Oak Ridge: 50 units/year. Customers: Equinix (20 reactors), US Air Force.

BWRX-300 by GE Hitachi / GE Vernova
300 MWeTarget: 2029
CNSC Licence to Construct (April 2025); NRC CP application under review (TVA Clinch River)

Simplified boiling water reactor with natural circulation. Lead project under construction at OPG Darlington, Ontario, Canada — first SMR construction in North America (May 2025). Also far advanced in US NRC licensing for TVA Clinch River site.

Natrium by TerraPower
345 MWeTarget: 2030
NRC Construction Permit Received (March 2026)

Founded by Bill Gates. 345 MWe baseload with 500 MWe peak via molten salt energy storage. Lead project in Kemmerer, Wyoming — first utility-scale advanced nuclear plant in US. DOE cost-share up to $2B of $4B total. Meta deal for up to 8 plants (2.8 GW).

Hermes by Kairos Power
0 MWeTarget: 2027
NRC Construction Permit (Dec 2024), Nuclear Construction Started

Non-power demonstration reactor. First advanced reactor to receive NRC construction permit (Dec 2023). Nuclear construction began May 2025 at Oak Ridge, Tennessee.

Aalo-X (XMR) by Aalo Atomics
10 MWeTarget: 2026
DOE Reactor Pilot Program (not NRC commercial license)

NON-COMMERCIAL 10 MWe experimental microreactor at DOE's Idaho National Laboratory — built under DOE authorization, not a commercial NRC license. Ground broken Sept 2025. Final Design Review completed Jan 2026. Targeting criticality July 4, 2026. This is a test/demonstration unit at a DOE facility, distinct from commercially licensed reactors.

Ward 250 by Valar Atomics
MWeTarget: 2026
DOE Reactor Pilot Program — Ground broken Sept 2025

Helium-cooled TRISO-fueled high-temperature gas test reactor at Utah San Rafael Energy Research Center. Valar became the first startup to achieve cold criticality (Nov 2025). Targeting operation by July 4, 2026.

Antares R1 by Antares Nuclear
1 MWeTarget: Jul 2026
DOE Reactor Pilot Program — Ground broken

HTGR microreactor (0.1-1 MWe). Authorized under DOE Reactor Pilot Program. Ground broken, targeting criticality July 2026. $96M Series B raised December 2025.

Gravity Reactor by Deep Fission
15 MWeTarget: Jul 2026
DOE Reactor Pilot Program — Drilling underway

15 MWe underground borehole PWR, scalable to 1.5 GWe. Authorized under DOE Reactor Pilot Program. Wells being drilled, targeting criticality July 2026.

MSR-1 by Natura Resources
0 MWeTarget: 2026
NRC Construction Permit Received (Sept 2024)

1 MWt demonstration MSR — first molten salt reactor ever licensed by the NRC (construction permit received September 2024). Targeting criticality 2026. Commercial MSR-100 (100 MWe) to follow.

SMR-300 by Holtec International
300 MWeTarget: 2032
NRC CP Application Submitted (Dec 2025)

Uprated from SMR-160. Twin units planned at Palisades site with DOE $400M First Mover Award. NRC partial construction permit application accepted for docketing Feb 2026. Partner: Hyundai E&C.

AP300 by Westinghouse Electric
330 MWeTarget: 2033
NRC Pre-Application

Scaled-down version of the licensed and operating AP1000 design. Leverages proven technology and existing supply chain. Design certification anticipated 2027.

KP-FHR by Kairos Power
75 MWeTarget: 2030
Pre-Application

Commercial-scale fluoride salt-cooled high-temperature reactor. Google 500 MW fleet PPA — first-ever US corporate SMR deal. First reactor targeted 2030.

IMSR by Terrestrial Energy
195 MWeTarget: 2032
CNSC Phase 2 VDR Completed / NRC Pre-Application

Integral Molten Salt Reactor with fuel dissolved in salt coolant. Completed CNSC Phase 2 Vendor Design Review with no fundamental barriers. First NRC safety evaluation of a commercial MSR design.

Xe-100 by X-energy
80 MWeTarget: 2030
NRC CP Application Under Review

80 MWe per module, 4-pack configuration yields 320 MWe. TRISO-X fuel facility (TX-1) NRC licensed Feb 2026. Dow Seadrift project: 4 units. Amazon/Energy Northwest: up to 12 units at Cascade facility. DOE ARDP award up to $1.2B.

UK AMR Phase 2 / NRC Pre-Application

Atmospheric pressure lead-cooled reactor with air-cooled power conversion. 8 test facilities operational in UK since 2023 under UK AMR Phase 2 program. Lead boiling point >1700C eliminates need for pressurization.

Aurora Powerhouse by Oklo Inc.
15 MWeTarget: 2028
Ground Broken at INL (Sept 2025)

15 MWe initial, scaling to 50-75 MWe commercial. Broke ground at INL September 2025. DOE approved fuel fabrication facility. Meta deal for 1.2 GW power campus in Pike County, OH. Largest SMR company by market cap (~$12.9B).

CNSC Pre-Licensing

Fully Ceramic Microencapsulated (FCM) TRISO fuel for enhanced safety. Deployment target at Chalk River, Ontario, Canada. 5 MWe output suitable for remote communities and industrial applications.

eVinci by Westinghouse Electric
5 MWeTarget: 2028
NRC Pre-Licensing

Solid core heat pipe microreactor. 1/5 scale test at NRIC DOME as early as 2026. Penn State University partnership for prototyping and educational deployment.

KRONOS by Nano Nuclear Energy
1 MWeTarget:
Pre-Licensing (US and Canada)

First publicly listed US nuclear microreactor company. Advancing toward formal licensing in US and Canada. MoU with EHC Investment (Abu Dhabi) for Gulf deployment. Cash position: $577.5M.

PWR-20 by Last Energy
20 MWeTarget: 2030
NRC Early Site Permit In Preparation

20 MWe mass-manufactured plug-and-play microreactor. 80+ commercial agreements in Europe, half for data centers. 30 microreactors in Haskell County, Texas for data centers. UK: 4 units in South Wales.

ThorCon MSR by ThorCon
250 MWeTarget:
Early Development

Shipyard-built molten salt reactor targeting Indonesia market. Early development stage with regulatory engagement with Indonesian authorities.

MCSFR by Elysium Industries
MWeTarget:
Early Development

Molten Chloride Salt Fast Reactor. Chloride salt coolant enables fast spectrum without solid fuel. Early-stage development.

BANR by BWX Technologies
MWeTarget:
DOD Development (Project Pele)

BWXT Advanced Nuclear Reactor for military and defense applications. Active DOD contracts for mobile military microreactors under Project Pele. Also involved in NASA space nuclear applications.

PWR-5 by Last Energy
5 MWeTarget: 2028
DOE Reactor Pilot Program

5 MWe pilot reactor for demonstration at Texas A&M RELLIS campus. Joined DOE Reactor Pilot Program August 2025 via OTA. Stepping stone to PWR-20 commercial deployment.

Aalo Pod by Aalo Atomics
50 MWeTarget: 2027
In Development

50 MWe factory-manufactured commercial modular reactor purpose-built for behind-the-meter AI data center power. First nuclear-powered AI data center targeted 2027 in INL area.

Nova by Valar Atomics
MWeTarget: 2025
Cold criticality achieved Nov 17, 2025

First-ever startup to achieve nuclear criticality. Nova went critical November 17, 2025 — a historic milestone for the advanced reactor industry.

MSR-100 by Natura Resources
100 MWeTarget: 2030s
In Development

100 MWe commercial-scale MSR following MSR-1 demonstration. Leverages NRC-licensed MSR technology from Natura Resources.

Project Pele by BWX Technologies
5 MWeTarget: 2028
DOD Development — Core Delivered Dec 2025

1-5 MWe military transportable microreactor. TRISO fuel core delivered to INL December 2025. Electricity generation targeted 2028. US Department of Defense strategic capability.

EM2 by General Atomics
265 MWeTarget:
In Development

265 MWe gas-cooled fast reactor with 30-year core life. Burns spent fuel and depleted uranium, converting waste into energy. Energy Multiplier Module design.

Producing since Jan 2026

TRISO and HALEU fuel fabrication company. $186.5M in funding. Producing fuel since January 2026. Critical fuel supply infrastructure for advanced reactor fleet.

BOTTOM LINE

The NRC licensing pipeline is the single biggest bottleneck and enabler for US SMR deployment. NuScale proved the full certification pathway is viable but at a 7-year timeline and significant cost. TerraPower and Kairos Power are the next in line with the most advanced NRC engagement. The critical question for the industry is whether NRC review timelines can be compressed for subsequent applications, especially given the 10 CFR Part 53 rulemaking for technology-inclusive licensing. Light-water designs (NuScale, BWRX-300, Holtec) have a regulatory advantage because the NRC has decades of experience with the technology. Non-light-water designs (Natrium SFR, Xe-100 HTGR, Aurora SFR) face longer review timelines but may benefit from Part 53 once finalized. The pipeline is real, but patience is required: expect the first wave of new-build US SMRs to reach operation in the 2029-2032 timeframe.

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