Estimated reading time: 2 minutes
Core Power launched a feasibility study on Monday to evaluate BWX Technologies’ mPower small modular reactor for integration into floating nuclear power plants built in commercial shipyards, accelerating a push to deliver nuclear-generated electricity to markets where conventional grid infrastructure cannot meet rising demand.
The self-funded study covers systems engineering, marine integration, concept development, regulatory pathway assessment, and techno-economic analysis. Core Power said the findings will guide future engineering decisions, regulatory engagement, and commercial planning for a fully modular floating nuclear plant design.
Technology and Power Output
The mPower reactor is a Generation III+ integral pressurized water reactor producing 195 megawatts of electricity and 575 megawatts of thermal output per unit. Core Power has positioned the design as a more established alternative to next-generation reactor concepts that the company says remain unproven at commercial scale.
Chief Executive Mikal Bøe said electricity demand is outpacing supply in key markets and that customers requiring reliable power cannot wait for conventional infrastructure timelines. Bøe has publicly described net-zero as a “false dawn,” arguing that the industry must engage proven nuclear technology rather than waiting for undemonstrated solutions.
The company previously received a 2022 grant from the U.S. Department of Energy in partnership with MIT to study floating nuclear power stations, establishing an early research foundation for the current work.
Parallel Licensing Activity Signals Wider Interest
One day after Core Power announced its study, Applied Atomics entered a separate licensing agreement with BWX Technologies for exclusive rights to deploy mPower in land-based nuclear facilities across the United States, Canada, and other markets. Applied Atomics said it will re-engage the U.S. Nuclear Regulatory Commission to resume mPower design certification activities, which were suspended in 2017.
The concurrent announcements indicate renewed commercial interest in the mPower platform across both marine and land-based applications, potentially strengthening the regulatory and supply chain infrastructure that a floating plant program would require.
Stakeholder and Commercial Implications
Floating nuclear power plants are positioned to serve offshore energy platforms, remote industrial operations, island markets, and coastal industrial zones where land constraints, permitting barriers, or grid instability limit conventional power options. Shipyard construction would allow serial production and modular delivery, reducing site-specific costs compared to land-built nuclear infrastructure.
Insurers, port authorities, and regulators in prospective host markets have not yet issued public guidance on floating nuclear plant approvals. Regulatory pathway assessment is listed as a core component of the Core Power study.
