Applied Atomics

Applied Atomics is a full-stack nuclear energy company based in Anchorage, Alaska, that develops, builds, and operates medium modular nuclear fission power plants ranging from 100 MW to 1 GW at customer sites. The company targets the industries shaping the next century - AI datacenters, re-shored manufacturing, utilities, and remote industrial operations - offering a single power purchase agreement with zero operations burden on the customer. Rather than designing a novel reactor from scratch, Applied Atomics took a pragmatic approach: in June 2026, it secured an exclusive land-based commercial license from BWX Technologies (BWXT) for the mPower™ Small Modular Reactor - a 195 MW Generation III+ pressurized light water reactor whose entire nuclear steam supply system is integrated into a single pressure vessel (75 ft tall, 15 ft diameter) shippable by standard rail flatcar. The mPower design has already benefited from over $500 million in prior engineering investment, extensive NRC pre-application engagement, and validation testing - bypassing years of development that most startups cannot shortcut. BWXT, the sole manufacturer of all U.S. Navy submarine and carrier reactors for 70 years, remains the exclusive manufacturer of all mPower components under the arrangement.

What makes Applied Atomics distinctive is its founding team's pedigree and its vertically integrated execution model. The founders spent formative years at SpaceX building launch sites, landing barges, and mission-critical infrastructure, then led technical efforts at Virgin Orbit, Relativity Space, and Radiant Nuclear (the world's first portable microreactor program). They are applying SpaceX's vertical integration philosophy - owning the full stack from design to operations - to nuclear deployment for the first time. The mPower's integrated vessel design physically eliminates the most serious failure mode of conventional pressurized water reactors (primary coolant pipe rupture), while standard commercial fuel and minimal water usage (~1% of conventional plants with cooling towers) make it highly deployable in non-coastal, non-riverine locations. The company is targeting 2030 for its first commercial operation date.

Applied Atomics represents a critical node in the U.S. nuclear energy supply chain, uniquely bridging America's proven naval nuclear manufacturing infrastructure (BWXT) with commercial terrestrial deployment for the first time. As the U.S. faces surging power demand from AI, data centers, and industrial reshoring, Applied Atomics' model - leveraging existing IP, existing supply chains, and existing regulatory groundwork - offers a faster and lower-risk path to firm, clean baseload power than greenfield reactor development. Its exclusive license covering the U.S., Canada, and comparable nuclear liability jurisdictions positions it as one of the most strategically significant SMR companies in North America, backed by decades of validated engineering rather than speculative physics.