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Investing.com -- Shares of nuclear microreactor companies tumbled after the U.S. Department of Energy (DOE) announced its first selections for testing in a new experimental facility, bypassing several publicly traded firms.
Nuscale Power Corp (NYSE:SMR) stock dropped 7.5%, Nano Nuclear Energy Inc (NASDAQ:NNE) fell 5.5%, and Oklo Inc (NYSE:OKLO) declined 6.7% following news that Westinghouse and Radiant were conditionally selected for the first tests in the Demonstration of Microreactor Experiments (DOME) facility at Idaho National Laboratory.
The DOE announced that DOME will be the world’s first microreactor test bed, designed to fast-track American microreactor technologies. The facility will test fueled reactor experiments that produce up to 20 megawatts of thermal energy, with the first experiment scheduled to begin as early as spring 2026.
Westinghouse will test its eVinci Nuclear Test Reactor, which is designed to produce 5 megawatts of electricity and uses advanced heat pipe technology for passive cooling. Radiant will test its Kaleidos Development Unit, advancing its 1.2 megawatt electric high-temperature gas reactor design.
Both companies were competitively selected in 2023 for potential testing in DOME and are currently working through the multi-phase DOE authorization process. The Department estimates each reactor experiment will operate for up to six months, with testing campaigns self-funded by the applicants.
The DOME facility is currently under construction and expected to receive its first experiment in early 2026. The DOE recently closed its first round of applications for scheduling experiments in DOME, with the next call for applications anticipated in summer 2026.