Successful Scaling of Small Modular Reactors Requires the Right Business Model

Abstract

The criticism of Small Modular Reactors (SMRs) abounds, ranging from fuel safety, technical performance, cost levels, construction time, and more. However, there are more than 80 designs currently pursued by developers, which means that much of this criticism is generic in nature and most frequently based on the idea that SMRs are just small light water reactors. Sure, most concepts under development will probably fail for various reasons, but some will not, which is a phenomenon witnessed in all industries where there are many innovations. However, what is truly missing in this criticism is a clear understanding of the business model of SMRs and why this must also change to ensure successful scaling. This paper will demonstrate that with a correct business model, SMRs will become far more competitive than critics think. Furthermore, it will be shown why the maritime industry is good place to start.