According to the Bank of America’s latest report, nuclear energy could be the answer to growing global power shortages as demand for electricity continues to rise, driven by the rapid expansion of data centres, the AI revolution, industrial growth and wider electrification. To meet this demand, global nuclear capacity would need to triple by 2050, requiring investment of more than $3 trillion over the next 25 years.
Industry experts suggest that small modular reactors (SMRs) are likely to play a central role in this transformation. These compact, lower-cost reactors can be built faster than traditional plants and scaled to meet the needs of emerging markets such as shipping, heavy industry and high-demand digital infrastructure.
The report highlights strong momentum behind nuclear power, with supportive government policies, renewed public confidence and accelerating investment across the supply chain. From uranium mining and enrichment to advanced reactor development, companies are experiencing renewed growth, reflecting what many analysts are calling a “rediscovery” of nuclear energy.
Bank of America concludes that nuclear is one of the most consequential energy technologies of the next quarter century, offering reliable, safe and clean power as the world works to reduce emissions and build resilient energy systems.
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| New nuclear in the news |
| New nuclear on the agenda Catch the CORE POWER team at these upcoming events: |
| NAOME Careers Fair 2025 Learning and Development Director, Dr. Rory Megginson, will be there to connect with next generation of maritime professionals while highlighting the exciting career pathways at CORE POWER. Hosted by the University of Strathclyde’s Department of Naval Architecture, Ocean and Marine Engineering, the fair brings together leading companies and top student talent for a half-day of networking, career exploration and knowledge sharing.  The Ramshorn, The University of Strathclyde, Glasgow 8th October 2025 |
| Westminster Energy, Environment & Transport Forum Our CEO, Mikal Bøe, will be joining the panel discussion at the online conference Next steps for maritime decarbonisation in the UK. This conference will focus on the implementation of the Government’s Maritime Decarbonisation Strategy, exploring regulatory coordination, infrastructure readiness, workforce needs and the role of economic drivers in reaching net zero. Key sessions will consider the impact of new measures such as the expansion of the UK Emissions Trading Scheme to domestic maritime, international penalties under the IMO’s emissions agreement, and the latest innovation funding for clean shipping. The event brings together industry leaders and policymakers to examine how the sector can deliver sustained emissions reductions and support the commercial deployment of clean vessels across the UK fleet. Online23rd October 2025 |
| Resource hub Take a look at this week’s latest additions: |
| We are excited to announce that the next batch of the panel videos from the New Nuclear for Maritime European Summit 2025 are now available our YouTube channel. |
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| Technical deep dive – the eVinci reactor | Westinghouse’s Leah Crider introduces the eVinci microreactor, a compact power source designed for simplicity, reliability and long-term operation. Using innovative heat pipe technology, eVinci can deliver dependable energy for up to eight years without refuelling, making it a strong candidate for Floating Nuclear Power Plants (FNPPs). Watch the session to learn how this transportable and cost-competitive solution could transform clean energy at sea. |
| International alignment in nuclear standards | International cooperation is essential to building the regulatory and policy frameworks needed for safe and effective deployment of nuclear technologies at sea. In this panel discussion, Charlotte Vere joins Rt Hon Anne-Marie Trevelyan, Anna Bradford Division Director at International Atomic Energy Agency (IAEA), Sama Bilbao y Leon Director General of World Nuclear Association, and Admiral John Richardson to examine how shared standards and joint action can accelerate maritime nuclear progress. Watch the session to hear global leaders’ perspectives on shaping the future of nuclear for maritime. |
