Next-Gen Nuclear and the Rise of SMRs with Carlos Torres Diaz and Natura Resources' Douglass Robison

Why It Matters

SMRs could provide the low‑carbon baseload needed to meet soaring electricity demand, especially for data‑intensive industries, while offering a faster, potentially cheaper alternative to traditional nuclear builds.

Key Takeaways

• SMRs aim to provide firm, carbon‑free power for growing demand.
• Nura Resources building U.S.’s first liquid‑fuel molten‑salt reactor in Texas.
• NRC has issued only two construction permits for SMRs to date.
• Global SMR pipeline shows ~1.3 GW ready, 7 GW near‑term, 16 GW speculative.
• Texas legislature earmarks $470 million for nuclear, SMR and gas projects.

Summary

The episode of "Let’s Talk Energy" spotlights the accelerating push for small modular reactors (SMRs) as a potential source of firm, carbon‑free electricity. Host Noah Brener interviews Doug Robinson, CEO of Nura Resources, about the company’s plan to build the United States’ first liquid‑fuel molten‑salt SMR in Abilene, Texas, and Carlos Torres Diaz of Rystad Energy, who frames SMRs within a global surge in electricity demand and the need for reliable baseload capacity.

Robinson explains that Nura’s Gen 4 molten‑salt reactor, based on technology demonstrated at Oak Ridge in the 1960s, received a rare NRC construction permit in September 2024 and is slated for criticality by late 2025 or early 2026, pending fuel delivery from Idaho National Lab. He notes substantial state support—$120 million for the demonstration unit and a $350 million Texas Nuclear Fund—aimed at meeting Texas’s projected grid expansion from 90 GW to over 225 GW by 2030, driven largely by data‑center and AI loads. Torres Diaz adds a macro view, projecting global electricity demand to rise from 30,000 TWh today to 56,000 TWh by 2050, requiring roughly 400 GW of new nuclear capacity, of which SMRs could supply a significant share.

Key examples underscore the race: the U.S. has issued only two SMR construction permits, while globally more than 100 projects are at various stages, with about 1.3 GW deemed ready for near‑term deployment, 7 GW in a “likely” category, and 16 GW still speculative. Torres highlights mature projects in Russia and China that are already testing units, and U.S. initiatives such as the TVA‑backed Clinch River project and Holtec‑Vernova collaborations receiving federal funding. Robinson stresses the strategic advantage of SMRs in Texas—localized generation near metropolitan loads, reduced transmission costs, and ancillary benefits like high‑temperature process heat and medical isotope production.

The discussion signals that SMRs are moving from concept to commercial reality, with policy incentives, financing pipelines, and technology validation converging to address both regional grid reliability and global decarbonization goals. Companies that secure proven reactor designs, fuel supply chains, and regulatory approvals by the early 2030s are poised to capture a growing share of the baseload market, potentially reshaping the energy mix and influencing future investment in renewables, gas, and traditional nuclear.

Original Description

Let’s Talk Energy and explore the rapidly advancing efforts to develop small modular nuclear reactors, or SMRs. Nuclear has captured the imagination of the private sector and policymakers alike for its ability to generate firm power – unlike variable renewable sources – with no emissions – unlike natural gas or coal. SMRs are being pitched as a way to overcome the cost and schedule overruns seen in conventional nuclear development in the West and help meet the growing needs of power grids and behind-the-grid users such as data centers. But – to date – SMRs have generated a lot of high hopes and hot air, with only a small handful of experimental facilities currently online anywhere in the world..

+ Can SMRs really compete with renewables and fossil fuels to meet growing global power demand?

+ Will SMR developers solve the cost overruns and project delays that plague conventional nuclear projects in the West and deliver low-cost electrons on time and on budget?

+ Which countries are poised to win the SMR race and develop this new source of power as global competition for energy and digital dominance grows?

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Related Analysis :

- Expectations and realities: 12 predictions for the year ahead in energy (accessible for non-clients): https://www.rystadenergy.com/news/12-predictions-for-2026-in-energy

- Small-reactor technology helps kindle Nordic interest in new nuclear generation (clients only): https://portal.rystadenergy.com/article-detail/626311?qid=1f35f96108c8d7c3169f47585abe8897&oid=doc_626311

- Maturing technologies boost interest in small modular reactors (clients only): https://portal.rystadenergy.com/article-detail/626963?qid=1f35f96108c8d7c3169f47585abe8897&oid=doc_626963

- Can nuclear and geothermal supply clean, firm power for data center demand boom? (clients only): https://portal.rystadenergy.com/article-detail/644937?qid=1f35f96108c8d7c3169f47585abe8897&oid=doc_644937

- Ready, set, wait: US nuclear power's revival lags energy demand boom (clients only): https://portal.rystadenergy.com/article-detail/626823?qid=1f35f96108c8d7c3169f47585abe8897&oid=doc_626823

- Costs at the core: Technology is key for nuclear power capex efficiency (clients only): https://portal.rystadenergy.com/article-detail/619323?qid=1f35f96108c8d7c3169f47585abe8897&oid=doc_619323

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Related Episodes

- A glimpse into energy in 2026, with Jarand Rystad: https://www.rystadenergy.com/podcasts/a-glimpse-into-energy-in-2026-with-jarand-rystad

- Dawning of the next era of energy: https://www.rystadenergy.com/podcasts/dawning-of-the-next-era-of-energy

- Shell’s Peter Wood on AI, future energy scenarios and trade turning points: https://www.rystadenergy.com/podcasts/peter-wood-AI-future-energy-scenarios

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🎙️Let’s Talk Energy is a Rystad Energy Production.

Produced by: Laura Rodriguez Skaug & Både Og.

Executive producers: Noah Brenner, Elliot Busby, Evodie Fleury-Greaker & Erik Means.

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