Energy Transition Podcast Series – Nuclear Power
Insight by Marc Bianchi, CFA
We’re launching a new chapter of Cowen’s Energy Transition Podcast Series, now focusing on nuclear power as opposed to carbon capture and specifically on small modular and advanced reactors. We believe these technologies will play a critical role in achieving the dual goals of reliable energy for all and decarbonization. Through our line-up of guests, we intend to cover the various technologies being developed, the regulatory environment, path to commerciality, and fuel supply among other topics.
- Episode 1: Nuclear Power With DOE Loan Director Jigar Shah: Jigar Shah, Director of the DOE’s Loan Programs Office (LPO), joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss LPOs vetting process, expanded authorization, and what it will take to get small modular and advanced nuclear reactors to commerciality.
- Episode 2: Advanced Nuclear Reactors With X-Energy: Clay Sell, CEO of X-Energy, joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss X-Energy’s high-temperature gas-cooled nuclear reactor and TRISO-X fuel designs. The discussion covers X-energy’s history, the path to demonstration, commerciality, government support, and the HALEU supply chain.
- Episode 3: Nuclear Supply Chain With BWXT: John MacQuarrie, President of BWXT’s Commercial Operations, and Joseph Miller, President of BWXT Advanced Technologies, join Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss BWXT’s participation in nuclear power. The discussion covers everything from nuclear fuel to SMR and advanced reactor supply chains and BWXT’s participation in the Department of Defense microreactor Project Pele.
- Episode 4: Nuclear Regulatory and Policy Issues With Hogan Lovells’ Amy Roma: Amy Roma, Partner and Global Energy Practice Leader at Hogan Lovells, joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss the prospects for new nuclear power investments in the US and abroad, government support, including the Inflation Reduction Act, and the NRC’s licensing process as it stands today and in the future.
- Episode 5: Load Following Advanced Nuclear With TerraPower: Chris Levesque, CEO of TerraPower, discusses the company’s nuclear development, including their first Natrium reactor, which is targeting commercial operation before the end of 2028. The Natrium reactor is safe, uses a molten salt energy storage system enabling a high degree of load following, and carries the promise for a lower cost.
- Episode 6: Nuclear Perception and Prospects With The Nuclear Energy Institute: Maria Korsnick, President and CEO of the Nuclear Energy Institute (NEI), joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment analyst Marc Bianchi to discuss the changing perception around nuclear, hurdles & opportunities for growth, domestically & abroad, and the evolving policy landscape in Washington DC.
- Episode 7: Small Modular Reactors with NuScale Power: Chris Colbert, Chief Financial Officer of NuScale Power, joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment analyst Marc Bianchi to discuss NuScale’s small modular reactor technology.
- Episode 8: Nuclear Power with GE-Hitachi: Jon Ball, Executive Vice President of Market Development for GE-Hitachi and Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment analyst discuss GE-Hitachi’s BWRX-300 Small Modular Reactor (SMR) technology and its timeline to commercialization and customer prospects.
- Episode 9: Nuclear Power and SMRs in Canada: John Gorman, President & CEO of the Canadian Nuclear Association joins Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst to discuss Canada’s outlook for nuclear power, including significant life extension programs for existing reactors and efforts to support the deployment of small modular reactor (SMR) designs.
- Episode 10: A Unique Approach To Small Modular Nuclear Reactors: Dr. Kris Singh, Founder and CEO of Holtec International, joins Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst to discuss Holtec’s small modular reactor, the SMR-160, and their unique approach including integrated manufacturing and efforts to utilize decommissioned nuclear sites in the U.S.
- Episode 11: Uranium Enrichment With Centrus: Dan Poneman, CEO of Centrus Energy, joins Marc Bianchi, Industrial Gas and Equipment and Energy Oilfield Services and Equipment Analyst. They discuss uranium enrichment, U.S. dependency on Russian supplies, and how Centrus is positioned to grow U.S. enrichment capabilities, including producing HALEU for advanced reactors.
- Episode 12: Nuclear Liftoff With LPO: Julie Kozeracki, Senior Advisor at the U.S. Department of Energy’s Loan Programs Office, joins Marc Bianchi, Industrial Gas and Equipment and Energy Oilfield Services and Equipment Analyst. Julie oversees the nuclear vertical and was one of the lead authors of their liftoff series report on advanced nuclear, which gives an overview of advanced nuclear and discusses what’s needed for commercial success.
- Episode 13: Digging into CFPP With NuScale: CEO John Hopkins, and CFO Ramsey Hamady of NuScale Power, join Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst. They discuss the termination of the Carbon Free Power Project, their takeaways from COP28, and using small modular reactors to power data centers.
Episode 1: Nuclear Power With DOE Loan Director Jigar Shah
Jigar Shah, Director of the DOE’s Loan Programs Office (LPO), joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss LPOs vetting process, expanded authorization, and what it will take to get small modular and advanced nuclear reactors to commerciality.
Read the full transcript here
Episode 2: Advanced Nuclear Reactors With X-Energy
In the latest episode of Cowen’s Energy Transition Podcast Series, Clay Sell, CEO of X-Energy, joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss X-Energy’s high-temperature gas-cooled nuclear reactor and TRISO-X fuel designs. The discussion covers X-energy’s history, the path to demonstration, commerciality, government support, and the HALEU supply chain.
Read the full transcript here
Episode 3: Nuclear Supply Chain With BWXT
John MacQuarrie, President of BWXT’s Commercial Operations, and Joseph Miller, President of BWXT Advanced Technologies, join Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi to discuss BWXT’s participation in nuclear power. The discussion covers everything from nuclear fuel to SMR and advanced reactor supply chains and BWXT’s participation in the Department of Defense microreactor Project Pele.
For the full transcript click here
Episode 4: Nuclear Regulatory and Policy Issues With Hogan Lovells’ Amy Roma
Amy Roma, Partner and Global Energy Practice Leader at Hogan Lovells, joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst Marc Bianchi. Together they discuss the prospects for new nuclear power investments in the US and abroad, government support, including the Inflation Reduction Act, and the NRC’s licensing process as it stands today and in the future.
For the full transcript click here
Episode 5: Load Following Advanced Nuclear With TerraPower
Chris Levesque, CEO of TerraPower, discusses the company’s nuclear development, including their first Natrium reactor, which is targeting commercial operation before the end of 2028. The Natrium reactor is safe, uses a molten salt energy storage system enabling a high degree of load following, and carries the promise for a lower cost.
For the full transcript click here
Episode 6: Nuclear Perception and Prospects With The Nuclear Energy Institute
Maria Korsnick, President and CEO of the Nuclear Energy Institute (NEI), joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment analyst Marc Bianchi. Together they discuss the changing perception around nuclear, hurdles & opportunities for growth, domestically & abroad, and the evolving policy landscape in Washington DC.
For the full transcript click here.
Episode 7: Small Modular Reactors with NuScale Power
Chris Colbert, Chief Financial Officer of NuScale Power, joins Industrial Gas & Equipment and Energy Oilfield Services & Equipment analyst Marc Bianchi to discuss NuScale’s small modular reactor technology.
For the full transcript click here
Episode 8: Nuclear Power with GE-Hitachi
Jon Ball, Executive Vice President of Market Development for GE-Hitachi and Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment analyst discuss GE-Hitachi’s BWRX-300 Small Modular Reactor (SMR) technology and its timeline to commercialization and customer prospects.
For the full transcript click here
Episode 9: Nuclear Power and SMRs in Canada
John Gorman, President & CEO of the Canadian Nuclear Association joins Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst. They discuss Canada’s outlook for nuclear power, including significant life extension programs for existing reactors and efforts to support the deployment of small modular reactor (SMR) designs.
For the full transcript click here
Episode 10: A Unique Approach To Small Modular Nuclear Reactors
Dr. Kris Singh, Founder and CEO of Holtec International, joins Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst. They discuss Holtec’s small modular reactor, the SMR-160, and their unique approach including integrated manufacturing and efforts to utilize decommissioned nuclear sites in the U.S.
For the full transcript click here
Episode 11: Uranium Enrichment With Centrus
Dan Poneman, CEO of Centrus Energy, joins Marc Bianchi, Industrial Gas and Equipment and Energy Oilfield Services and Equipment Analyst. They discuss uranium enrichment, U.S. dependency on Russian supplies, and how Centrus is positioned to grow U.S. enrichment capabilities, including producing HALEU for advanced reactors.
For the full transcript click here
Episode 12: Nuclear Liftoff With LPO
Julie Kozeracki, Senior Advisor at the U.S. Department of Energy’s Loan Programs Office, joins Marc Bianchi, Industrial Gas and Equipment and Energy Oilfield Services and Equipment Analyst. Julie oversees the nuclear vertical and was one of the lead authors of their liftoff series report on advanced nuclear, which gives an overview of advanced nuclear and discusses what’s needed for commercial success.
For the full transcript click here
Episode 13: Digging into CFPP With NuScale
CEO John Hopkins, and CFO Ramsey Hamady of NuScale Power, join Marc Bianchi, Industrial Gas & Equipment and Energy Oilfield Services & Equipment Analyst. They discuss the termination of the Carbon Free Power Project, their takeaways from COP28, and using small modular reactors to power data centers.
For the full transcript click here