Will develop a pressurized water reactor
Snow Lake Energy, a uranium development firm, and US-based nuclear engineering company Exodys Energy have launched a joint venture to develop a small modular reactor (SMR) for the US data center market.
The joint venture will use an SMR design based on pressurized water reactor (PWR) technology. In using the already established technology, the company said it will be able to fast-track development and navigate regulatory hurdles more efficiently.
“This is a natural and strategic progression in our mission to power the AI-driven future with clean, reliable energy,” said Frank Wheatley, CEO of Snow Lake Energy. He added that Snow Lake’s recent acquisitions and investments mark the company’s shift toward becoming “one of the few vertically integrated companies in the nuclear industry – from uranium supply through to enrichment and to reactor development and deployment.”
The move expands Snow Lake’s role in the nuclear energy space, following uranium acquisitions in Wyoming and a strategic stake in Global Uranium and Enrichment Limited.
Snow Lake will lead commercial execution for the joint venture, integrating its uranium assets and market presence, while Exodys will offer technical guidance on reactor design and fuel cycle strategy.
Carl Perez, CEO of Exodys Energy, emphasized the urgency of the initiative: “Supporting Snow Lake in its technical and commercial roadmap is not merely a plan – it is a response to the urgent need to domestically scale and deploy nuclear power reactors.”
The announcement follows the signing of four executive orders by President Trump earlier this month to support the growth of the US nuclear sector. The orders aim to expedite the process of nuclear reactor approvals, increase domestic production of uranium, and support the rollout of ‘next generation’ reactor technologies.
“The ongoing US nuclear resurgence... creates an extraordinary and timely opportunity,” Perez noted.
Leadership appointments for the new company are expected to be announced within weeks. The exact timeframe for the SMR’s deployment was not shared.
The joint venture is the latest in a series of SMR firms seeking to target the data center market as a crucial offtaker for the new technology. Several major data center operators have already signed long-term contracts with SMR developers to deliver power upon the technology's commercialization. For example, Amazon Web Services, Google, and Data4 have all signed deals within the last 12 months.
