** Shares of uranium producers and nuclear power companies jump after Amazon.com signs three agreements on developing nuclear power technology called small modular reactors $(SMR)$
** While no U.S. SMRs exist yet, Amazon will have the right to purchase electricity from four modules
** Earlier this year, Amazon purchased a nuclear-powered data center from Talen Energy
** "AMZNs announcement continues a string of positive events starting with the passing of the ADVANCE Act ... Nano Nuclear Energy is developing 1-2MW SMRs and has secured capital and rapidly putting in place a strong team to lead its efforts" — Michael Legg, managing director of emerging growth equity research at The Benchmark Company
** NNE jumps 28.5%
** Nuclear energy-backed utilities Talen Energy Corp
, Vistra Corp , Dominion Energy jump about 8%
** U.S. uranium miners Uranium Energy Corp and Energy Fuels Inc rise 7% to 15%; Canada's Cameco Corp
gains about 7.6%
(Reporting by Khusbu Jena in Bengaluru)
((Khusbu.Jena@thomsonreuters.com))
Comments