In a world increasingly dependent on clean, reliable, and uninterrupted power, nuclear energy is beginning to reassert itself. Once seen as too slow, too expensive, and too risky, the industry is now gaining renewed momentum. From the revival of shuttered U.S. plants to the global rollout of small modular reactors and long-term energy agreements with some of the world’s largest technology companies, it is clear that nuclear is no longer a niche solution—it is moving steadily into the mainstream.
The shift is not just driven by climate concerns. It is also about scale, security, and the growing realization that intermittent renewables, while essential, cannot meet the full demands of an electrified, AI-driven future.
America’s First Un-Retirement and a Blueprint for What’s Next
In Michigan, Holtec International is making history with the planned restart of the Palisades Nuclear Power Plant. Decommissioned in 2022, Palisades is on track to become the first U.S. nuclear facility ever brought back online, a reversal once thought impossible. The project recently cleared a critical environmental review, with federal regulators finding “no significant impact” from its reactivation¹. Holtec is not just restarting the old plant. It is also preparing to deploy 300 MW of SMRs on site, aiming to create a hybrid model that combines proven base-load generation with next-generation technology.
This single project encapsulates what is changing across the industry. Where nuclear was once sidelined due to perceived risks and costs, it is now viewed as a flexible asset capable of extending the life of existing infrastructure and integrating with newer systems designed to be faster and more affordable to build.
That view is now backed by capital. The state of Texas, for example, recently passed legislation allocating $350 million to support advanced nuclear development. The package includes direct funding for SMRs and workforce training initiatives². With the creation of a dedicated state nuclear office, Texas is signaling its intent to lead on next-generation nuclear. This is a notable shift given the state’s historical reliance on fossil fuels and its recent struggles with grid stability during periods of extreme weather.
Global Commitments and Private-Sector Momentum
This domestic surge is mirrored abroad. Russia’s Rosatom recently signed an agreement to explore construction of a large-scale VVER-1000 plant in Uzbekistan³. For a nation that has never operated nuclear power, the move signals serious ambition and aligns with Kazakhstan’s similar efforts to establish its own nuclear program. With abundant uranium resources and rising power demand, Central Asia is positioning itself to become a major player in the nuclear resurgence.
The United Kingdom is also leaning in. The British government recently selected Rolls-Royce as its preferred SMR partner, part of a multibillion-pound effort to modernize its energy grid and strengthen domestic industrial capacity⁴. Rolls-Royce’s 470 MW modular design is already drawing international attention. With government backing, the first units could be operational in the early 2030s, offering the kind of reliable, always-on power that intermittent renewables still struggle to provide at scale.
Some of the most striking developments are happening in the private sector. In June, Meta signed a 20-year power purchase agreement with Constellation Energy to secure the full output of the Clinton Nuclear Plant in Illinois, totaling over 1.1 gigawatts⁵. For perspective, that is enough energy to power nearly a million homes. This is not about publicity. It is a strategic response to the massive and growing energy demands of artificial intelligence and cloud computing.
Tech companies now recognize that if they want uninterrupted, scalable, and carbon-free energy, nuclear appears to be the only source that can consistently deliver it.
This growing interest from Silicon Valley is matched by legislative urgency in Washington. Bipartisan lawmakers have introduced new bills aimed at expediting nuclear permitting and streamlining development pathways. Nuclear is increasingly viewed not just as a clean energy option, but as a strategic national resource⁶. After years of bureaucratic gridlock, there is now momentum to clear the path forward, especially as utilities, states, and corporations press to bring new projects online.
Perhaps most telling is the shift in public sentiment. For decades, nuclear energy carried a heavy stigma rooted in historical accidents and waste concerns. But recent polling shows that opinion has changed. Seventy-five percent of Americans now support keeping existing nuclear plants online, and a majority favor building new ones⁷. Rising electricity prices, climate awareness, and a better understanding of nuclear’s safety record have all helped change the conversation.
Investing in the Nuclear Renaissance
All of this points to a global realignment. In an energy system long dominated by short-term cost efficiency, nuclear offers something unique: long-term certainty. Once built, nuclear plants operate for decades. They do not depend on weather, do not require backup from fossil fuels, and can generate enormous amounts of electricity with a minimal land footprint.
For investors, this transformation represents an opportunity to gain exposure to what we believe is one of the most promising infrastructure trends of the next decade.
The Range Nuclear Renaissance Index ETF (NYSE: NUKZ) is built to capture the growing investment opportunity in nuclear energy. The fund provides diversified exposure to companies across the nuclear value chain, including advanced reactor developers, component manufacturers, fuel processors, construction and engineering firms, and utilities operating nuclear fleets.
As governments, corporations, and consumers converge around the need for scalable, reliable, and clean energy, nuclear’s long-awaited comeback is no longer theoretical.
It is happening now.
The Range Nuclear Renaissance Index ETF (NUKZ) seeks to allow investors to take part in that resurgence strategically, efficiently, and globally.
Note: As of June 23rd, Constellation made up 8.89% and Rolls-Royce accounted for 2.57% of the ETF.
Holdings subject to change. See www.rangeetfs.com/nukz for a full list of positions.
Sources
1 Utility Dive. "Holtec clears key NRC environmental hurdle to restart Palisades." June 2024. https://www.utilitydive.com/news/nrc-palisades-reactor-restart-environmental-assessment-nuclear/749545/
2 National Law Review. "Texas Legislature Establishes Nuclear Energy Office and Grant Programs." June 2024. https://natlawreview.com/article/texas-energizes-nuclear-energy-strategy-passage-three-key-bills
3 Reuters. "Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan." June 2025. https://www.reuters.com/business/energy/russias-rosatom-explore-construction-high-capacity-nuclear-plant-uzbekistan-2025-06-20/
4 The Times UK. "Rolls-Royce to build UK's first small nuclear power stations." June 2024. https://www.thetimes.co.uk/article/rolls-royce-to-build-uks-first-small-nuclear-power-stations-ff72kpjq0
5 New York Post. "Meta signs 20-year nuclear power plant deal to power AI." June 2025. https://www.pbs.org/newshour/politics/meta-signs-20-year-deal-with-nuclear-plant-signals-ais-growing-energy-needs
6 Wall Street Journal. "To Feed Power-Wolfing AI, Lawmakers Are Embracing Nuclear." June 2025. https://www.wsj.com/articles/to-feed-power-wolfing-ai-lawmakers-are-embracing-nuclear-a461ab7d
7 Business Insider. "Nuclear power is having a renaissance. Here's what consultants say." May 2025. https://www.businessinsider.com/nuclear-power-future-obstacles-2025-5
Risk Disclosures:
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's full or summary prospectus, which may be obtained by visiting www.rangeetfs.com/nukz. Read it carefully before investing or sending money.
Investing involves risk, including possible loss of principal. There is no guarantee the Funds will achieve their stated investment objectives.
Investments in the energy industry are subject to significant volatility due to changes in commodity prices. Additional risks include changes in exchange rates, government regulation, world events, economic and political conditions in the countries where energy companies are located or do business, and risks for environmental damage claims.
The Fund is non-diversified. Its concentration in an industry or sector can increase the impact of, and potential losses associated with, the risks from investing in those industries/sectors.
Nuclear companies may be subject to substantial government regulation and contractual fixed pricing, which may increase the cost of doing business and limit the earnings of these companies. A significant portion of revenues of nuclear companies depends on a relatively small number of customers, including governmental entities and utilities. As a result, governmental budget constraints may have a material adverse effect on the stock prices of companies in this sub-industry.
International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Investments in smaller companies typically exhibit higher volatility.
The Fund may invest in securities denominated in foreign currencies. Because the Fund's NAV is determined in U.S. dollars, the Fund's NAV could decline if currencies of the underlying securities depreciate against the U.S. dollar or if there are delays or limits on repatriation of such currencies. Currency exchange rates can be very volatile and can change quickly and unpredictably.
Because the Fund is new, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation.
The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision. Moreover, investors will not be able to evaluate the Fund against one or more comparable funds on the basis of relative performance until the Funds has established a track record.
Exchange Traded Concepts, LLC serves as the investment advisor of the funds. NUKZ, COAL, and ETFs are distributed by SEI Investments Distribution Co. (SIDCO, 1 Freedom Valley Drive, Oaks, PA 19456), which is not affiliated with Exchange Traded Concepts, LLC, or any of its affiliates.
