The nuclear energy revolution is just getting started.

First, we learned Microsoft is working on a major project to finance so-called small modular nuclear reactors to power AI and data centres. 

This week, we learned that NuScale Power has signed a deal with advanced data processing provider Standard Power, to build reactors at two locations in Pennsylvania and Ohio.

NuScale SMRs are so far the only designs approved by US authorities. 

The development saw NuScale stock surge some 23% Friday on the NYSE  ($SMR).

Standard Power will partner with NTRA1 Energy, an independent global energy development and production company, to build the NuScale reactors.

The deal sees NuScale providing 24 units of 77-MWe modules for a combined capacity of 1,848 MWe.

“We see a lot of legacy baseload grid capacity going offline with a lack of new sustainable baseload generation options on the market especially as power demand for artificial intelligence (AI)-computing and data centers is growing. We look forward to working with ENTRA1 and NuScale to deploy NuScale’s proven SMR technology to deliver carbon-free, baseload energy to address this large gap in the generation market,” said Maxim Serezhin, Standard Power Founder and Chief Executive Officer.

“By bringing together ENTRA1’s superior strengths in project development and investment with NuScale’s proven SMR technology, consumers can reduce their emissions footprint and help meet decarbonization goals while delivering the reliable 24/7 service to energy consumers.”

“ENTRA1 Energy has a strong global pipeline of energy production projects of multiple gigawatts of power generation with NuScale’s proven technology,” Clayton Scott, Chief Commercial Officer for NuScale, said in a statement.

“Together, we can more effectively meet the growing demands for renewable, carbon-free energy solutions. With power demand growing in the semiconductor, AI, data, and other tech sectors, ENTRA1 and NuScale are uniquely positioned to supply baseload and reliable power.”