Applied Atomics Licenses mPower SMR Technology Exclusively

Applied Atomics secured an exclusive land-based license for the mPower small modular reactor technology from BWX Technologies, establishing a new commercial SMR licensing arrangement in the US. This is a structural event that activates a dormant SMR technology asset and creates a new commercial pathway for land-based SMR deployment.

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The exclusive licensing of mPower SMR technology by Applied Atomics to BWX Technologies creates a new commercial SMR supply chain entrant with exclusive IP access, structurally advantaging both parties in the accelerating US nuclear buildout. BWX Technologies gains a royalty or licensing revenue stream from mPower while Applied Atomics gains a defined technology base to pursue project development. This adds competitive pressure on other SMR developers such as NuScale and X-energy, which compete for the same utility and data center power customers. The data center power demand wave — driven by AI infrastructure buildout — is the primary demand catalyst that makes this licensing event commercially significant now rather than purely speculative. Nuclear fuel and enrichment suppliers benefit from any incremental SMR capacity that reaches construction.