NuScale Power vs. Nano Nuclear Energy: Comparing Commercial Progress in Next-Gen Nuclear
Key Points
NuScale Power and Nano Nuclear Energy are young companies trying to ride the nuclear wave with advanced, small reactors.
Both are pre-revenue companies, but are trying hard to advance their commercialization timelines.
Investors should monitor their commercial progress, but also understand the risks before investing.
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NuScale Power: Navigating Volatile Revenue
NuScale Power (NYSE:SMR) primarily generates revenue by developing small modular reactors (SMR) to supply energy for electrical generation, district heating, hydrogen production, and desalination.
One of the recent meaningful developments includes its exclusive commercialization partner, ENTRA1 Energy, signing a landmark deal with the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts of NuScale’s SMRs in the power plants it will operate for TVA.
Nano Nuclear Energy: Awaiting Initial Revenue
Nano Nuclear Energy (NASDAQ:NNE) operates as a microreactor technology company developing solid-core battery and low-pressure coolant reactors alongside high-assay low-enriched uranium fuel transportation businesses.
It signed a memorandum of understanding to explore the deployment of advanced microreactors in the United Arab Emirates.
Why Revenue Matters for Retail Investors
Revenue represents the total amount of money a business brings in from its normal commercial operations, serving as a fundamental financial indicator of its overall scale, customer demand, and historical market traction.
Quarterly Revenue for NuScale Power and Nano Nuclear Energy
| Quarter (Period End) | NuScale Power Revenue | Nano Nuclear Energy Revenue |
|---|---|---|
| Q2 2024 (June 2024) | $967.0K | $0.00 |
| Q3 2024 (Sept. 2024) | $475.0K | $0.00 |
| Q4 2024 (Dec. 2024) | $34.2 million | $0.00 |
| Q1 2025 (March 2025) | $13.4 million | $0.00 |
| Q2 2025 (June 2025) | $8.1 million | $0.00 |
| Q3 2025 (Sept. 2025) | $8.2 million | $0.00 |
| Q4 2025 (Dec. 2025) | $1.8 million | $0.00 |
| Q1 2026 | $0.57 million (period ended March 2026) | $0.00 |
Data source: Company filings. Data as of May 10, 2026.
Foolish Take
Nuclear energy is a massive theme right now, thanks to the unprecedented surge in power demand from artificial intelligence data centers and electrification. Comparing the revenues of NuScale Power and Nano Nuclear Energy, however, highlights the reality of the next-generation nuclear sector: these are start-ups, currently valued on their tech potential and future promises rather than their sales growth.
Any investment decision now, therefore, remains speculative and boils down to what NuScale Power and Nano Nuclear have achieved so far and how close they are to commercialization.
NuScale Power is the only company in the U.S. to have received design approval for its SMRs from the U.S. Nuclear Regulatory Commission (NRC). SMRs are modular nuclear-fission reactors that can be quickly deployed in compact locations that are not feasible for traditional reactors and generate scalable power. NuScale’s partnership with ENTRA1 Energy is making progress, but it recently faced investor scrutiny over milestone payments made without any revenue guarantee.
Nano Nuclear is designing a variety of microreactors that are significantly smaller but also portable, unlike NuScale Power’s reactors, and can be deployed anywhere from the most remote locations, such as islands, mining, oil, and gas operations, to larger data centers and industrial establishments.
Just days ago, in May, Nano Nuclear submitted its microreactor construction permit application to the NRC, aiming to begin campus testing around late 2027 if the application is approved. However, it doesn’t expect to launch its first reactor before 2030. Nano Nuclear completed a private placement last year and has the cash to fund research and development.
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Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
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