NuScale Power has experienced a surge in interest in its small modular reactor technology from data centres and manufacturers, driven by the Advance Act and Department of Energy funding for SMR deployment, chief executive officer John Hopkins said during a second quarter earnings call.

The rapid growth of data centres in support of artificial intelligence is the “most exciting source of new demand” for clean, firm electricity, Hopkins said.

He cited a May projection by the US Electric Power Research Institute that data centres could account for up to 9.1% of US electricity demand by 2030 from an estimated 4% today.

Onshoring of heavy manufacturing operations is also expected to drive demand for 24/7, emissions-free power, Hopkins said.