Italian energy giant Enel is placing a bet on small modular nuclear reactors through a partnership with Ansaldo, another Italian energy company, and Leonardo, a defense contractor. The new company is expected to be announced in the coming days. Enel already has a deal with small modular reactor startup Newcleo to develop so-called fourth-generation nuclear reactor technology. 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. Enel’s global revenue alone is equivalent to about 4% of Italy’s GDP. A slew of new companies have emerged over the last decade to commercialize smaller reactors. Most of today’s new reactors are large, capable of supplying 1,000 megawatts of electricity, and they take years to build, frequently blowing past their budget estimates. SMR startups, on the other hand, have bet their businesses on mass production and speedy installations. Still, none of those startups have built a commercial-scale reactor. 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.

Full report : Italian energy company, Enel is planning to enter energy technology business with small modular nuclear reactors.