March 13 - Major companies including Amazon (AMZN, Financial) and Google (GOOG, Financial) have signed a pledge to support tripling global nuclear energy capacity by 2050, according to a Wednesday press release at the CERAWeek conference in Houston.
Other signatories include Occidental (OXY, Financial) and Japanese heavy machinery maker IHI Corp. The pledge is expected to gain additional backing from the maritime, aviation, and oil and gas sectors, the World Nuclear Association said in its statement.
U.S. Energy Secretary Chris Wright remarked, "We are truly at the beginning of a new industry," underscoring nuclear power's role as a clean energy source that currently generates about 9% of the world's electricity from 439 reactors.
Amid record-high uranium oxide prices and constrained global supply, Amazon has already invested over $1 billion in nuclear energy projects and is exploring small modular reactor technologies. As production remains concentrated in Kazakhstan, Canada, and Australia, industry leaders believe this pledge could drive further investments in grid upgrades and renewable infrastructure worldwide.
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