- Westinghouse President Dan Lipman announced collaboration efforts between Japan and the U.S. on a nuclear project involving Japanese manufacturers and Westinghouse.
- The project is part of a second round of bilateral agreements under Japan's $550 billion investment initiative.
- The company had previously filed for Chapter 11 bankruptcy in 2017 due to significant losses related to its AP1000 reactor projects.
The United States and Japan are covertly preparing for a potential nuclear alliance that could include Westinghouse and billions of dollars in reactor investments, as nations scramble to secure reliable energy supplies.
Westinghouse President Dan Lipman revealed that Japan and the United States are set to finalize their respective roles in a potential collaborative nuclear project involving Japanese nuclear equipment manufacturers and Westinghouse, according to Reuters.
The U.S. and Japan are working with Westinghouse to include a nuclear power project as part of a second round of bilateral agreements under Japan's $550 billion investment initiative. The growing momentum for the construction of nuclear power plants is being recognized globally by nations seeking to strengthen their energy security by creating additional domestically available energy resources.
According to Lipman, discussions are ongoing regarding various projects, but none have been agreed upon or committed to at this stage.
“These are very strategic projects that are very critical to Westinghouse and to our Japanese partners,” said Lipman, adding that the projects are not yet ready for deployment.
Westinghouse, owned by uranium producer Cameco (CCJ) and asset manager Brookfield (BAM), is exploring plans to build pressurized water reactors and small modular reactors in projects worth up to $100 billion under President Trump’s nuclear initiative.
In 2017, Westinghouse filed for Chapter 11 bankruptcy after spending billions of dollars on cost overruns tied to its AP1000 nuclear reactor projects in Georgia and South Carolina. This cost Toshiba, the company's parent company at the time, more than $9 billion.
How Are Nuclear Stocks Reacting?
Cameco (CCJ), one of the top 10 uranium producers globally, saw its stock price decline after hours following a major drop during the trading day. On Stocktwits, retail sentiment around CCJ remained in the ‘bullish’ territory, while chatter levels improved from ‘low’ to ‘high’ over the past day.
Brookfield Asset Management (BAM) was up over 2% in after-hours trading. On Stocktwits, retail sentiment around BAM dropped from ‘extremely bullish’ to ‘bullish’ zone, as chatter remained at ‘high’ levels over the past day.
While next-generation reactor developers like Oklo (OKLO) and NuScale Power (SMR) moved largely flat, utility and nuclear infrastructure names like Constellation Energy (CEG) and BWX Technologies (BWXT) showed slight after-hours declines.
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