Can GE Vernova Ride the Momentum on Expanding Global Nuclear Power?

The global push for clean, reliable energy has positioned nuclear power as a critical solution, with currently more than 70 gigawatts (GW) of new nuclear capacity under construction globally, as per the International Energy Agency’s (“IEA”) January 2025 report. GE Vernova Inc. (GEV) stands to gain from this momentum, particularly through its strong forte in producing small module reactors (SMR).

The company's joint venture (JV), named GE Hitachi Nuclear Energy (“GVH”), with Hitachi, boasts 60 years of experience in designing, deploying, servicing and fueling reactors globally. This JV’s 10th-generation Boiling Water Reactor, BWRX-300, is a compact nuclear reactor capable of generating 300-megawatt (MW) power. The first of BWRX-300 SMR is currently scheduled to be commissioned in Canada in 2029, at Ontario Power Generation's Darlington New Nuclear Project site.

As companies worldwide are adopting more nuclear energy as one of their preferred choices of clean energy source, GE Vernova is actively enhancing its nuclear power business through significant deployment of its BWX-300 SMRs via multiple collaborations.

In July 2025, GVH and Fortum entered into an early works agreement to advance the potential deployment of the BWRX-300 SMR in Finland and Sweden. In May 2025, Emirates Nuclear Energy Company and GVH signed an MoU to jointly evaluate the deployment of the BWRX-300 SMR technology internationally. GVH has also signed a series of MOUs with UK firms to enhance the deployment of BWXR-300 SMR in Great Britain.

These initiatives should also boost GEV’s revenue growth from the nuclear power business in the upcoming quarters, once the SMRs are deployed successfully.

Other Stocks Warranting a Look

GEV apart, companies like NuScale Power (SMR) and BWX Technologies (BWXT) also stand to benefit from the expanding integration of nuclear energy in the global clean energy mix.

Notably, NuScale Power is actively developing and pursuing the deployment of small modular reactors, specifically its NuScale Power Module design. The company is currently performing front-end engineering work for RoPower’s 462-MWe power plant in Romania and has 12 power modules in production, which are designed to generate 77 MW of electricity each.

On the other hand, BWX Technologies plays a critical role in the development and deployment of small module reactors and microreactors. In January and July 2025, the company began fabricating the reactor core for the Pele microreactor, which is a 1.5-MW demonstration microreactor for the Department of Defense Strategic Capabilities Office. The technology is expected to begin producing electricity in 2028.

The Zacks Rundown for GEV

Shares of GE Vernova have surged a solid 255.5% in the past year, outperforming the industry’s 67.9% gain.

From a valuation standpoint, GEV is currently trading at a forward 12-month price-to-earnings (P/E) of 58.46X, representing a premium compared to the industry average of 22.03X.

The Zacks Consensus Estimate for GEV’s near-term bottom-line estimate has moved north over the past 60 days.

RTX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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