The nuclear energy sector reached a pivotal regulatory milestone last week. The results could redefine the timeline for advanced reactor deployment in the U.S. The U.S. Nuclear Regulatory Commission (NRC) voted on March 4 to issue a construction permit to TerraPower for its Natrium advanced reactor project in Kemmerer, Wyoming. This marks the first time in more than 40 years that a non-light-water reactor has received such approval. It also signals a significant shift toward the commercialization of nuclear technology.
For investors looking to capture this opportunity, the Range Nuclear Renaissance Index ETF (NUKZ) offers a way to get exposure to the complex supply chain required to bring these next-generation plants to life. NUKZ’s approach provides exposure to the specialized engineering and industrial firms actually contracted to build the Natrium facility.
Nuclear Investment Exposure Beyond TerraPower
The Natrium plant design is a 345-megawatt (MW) sodium-cooled fast reactor. It utilizes a molten salt-based energy storage system that can boost output to 500 MW when needed. This complexity necessitates a highly specialized group of contractors, many of which are key holdings within the NUKZ portfolio.
GE Vernova (GEV) stands as a primary partner in the reactor’s core technology development, while Curtiss-Wright (CW) has secured pivotal contracts to develop the plant’s training simulators and distributed control systems.
Further down the supply chain, BWX Technologies (BWXT) provides the high-spec engineering and component manufacturing necessary for the reactor’s unique sodium-cooled design. The fuel cycle itself represents a specialized niche, with Centrus Energy (LEU) and ASP Isotopes (ASPI) serving as essential links in the domestic HALEU fuel supply chain. Rounding out the operational safety requirements, Mirion Technologies (MIR) has been awarded contracts for the facility’s radiation monitoring and sensing systems.
Market Performance and Flows
The regulatory green light comes as nuclear energy remains a standout performer in 2026. NUKZ has climbed approximately 9.9% year-to-date through March 9, significantly outperforming the S&P 500’s 0.5% decline. The fund currently manages approximately $818 million in assets, supported by net inflows of $35 million since the start of the year.
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