Nuclear startups face new competition as energy giant Enel enters the ring

Italian energy giant Enel is placing a bet on small modular nuclear reactors through a partnership with Ansaldo, another Italian energy company, and Leonardo, a defense contractor. Enel already has a deal with small modular reactor startup Newcleo to develop so-called fourth-generation nuclear reactor technology. The new Enel-Ansaldo-Leonardo endeavor and the deep pockets of its backers could put additional pressure on other small modular reactor (SMR) startups that have struggled to build power plants.