The US small modular reactor industry crossed a psychological threshold this year. No SMR has entered commercial operation domestically, but 2026 is shaping up as the year the first construction permits and criticality milestones actually land — and the trigger isn’t climate policy, it’s AI data-center power demand.

The Federal Push

The Department of Energy’s Gen III+ SMR Pathway to Deployment Program has become the primary vehicle for de-risking early builds. DOE issued a $900 million solicitation in March 2025, followed by $800 million in Tier 1 awards in December 2025 to the Tennessee Valley Authority and Holtec Government Services. In May 2026, DOE added a further $94 million across eight companies under Tier 2, targeting licensing, supply chain, and site preparation gaps that have historically stalled domestic nuclear projects.