Nuclear energy stocks moved higher on Thursday following the release of a new U.S. policy aimed at deploying nuclear reactors in space, including in Earth orbit and on the Moon.
Shares of Oklo (NYSE:OKLO) and NuScale (NYSE:SMR) rose sharply in premarket trading, gaining nearly 8% and 10% respectively as of 05:38 ET. Nano Nuclear Energy (NASDAQ:NNE) also advanced 7.3%, while Cameco (NYSE:CCJ) added 1.6% and Uranium Energy (AMEX:UEC) climbed 2.1%.
The gains followed a memorandum issued on April 14 by the White House Office of Science and Technology Policy, formally launching the National Initiative for American Space Nuclear Power. The program targets the deployment of reactors in orbit as early as 2028 and on the Moon by 2030.
The directive represents the first comprehensive framework covering both civilian and military uses of nuclear technology in space, reflecting the view that existing solar and chemical propulsion systems may not meet the demands of future missions.
Under the initiative, responsibilities are divided among NASA, the Department of Defense, and the Department of Energy.
NASA has been tasked with developing a mid-power space reactor, including a lunar version ready for launch by 2030. Meanwhile, the Pentagon is expected to advance an orbital reactor program by 2031, with a competitive process involving at least two vendors progressing through design and testing stages.
The first demonstration mission, known as SR-1 Freedom, will involve a 20-kilowatt reactor designed to support both surface power generation and propulsion for interplanetary missions.
Nuclear reactors generate energy through fission, splitting atomic nuclei to release heat, and are considered critical for sustained lunar operations, where long periods of darkness make solar power unreliable.
The policy follows recent comments from Jared Isaacman, head of NASA, who outlined plans to integrate nuclear power into future missions, including potential journeys to Mars.