Snow Lake and Exodys form SMR Venture

Snow Lake Energy, a uranium development firm, and US-based nuclear engineering company Exodys Energy have launched a joint venture to develop a small modular reactor (SMR) for the US data center market. This venture will use an SMR design based on pressurized water reactor (PWR) technology and will be able to fast-track development and navigate regulatory hurdles more efficiently.

“This is a natural and strategic progression in our mission to power the AI-driven future with clean, reliable energy,” said Frank Wheatley, CEO of Snow Lake Energy. He added that Snow Lake’s recent acquisitions and investments mark the company’s shift toward becoming “one of the few vertically integrated companies in the nuclear industry – from uranium supply through to enrichment and to reactor development and deployment.”

Snow Lake will lead commercial execution for the joint venture, integrating its uranium assets and market presence, while Exodys will offer technical guidance on reactor design and fuel cycle strategy.

Carl Perez, CEO of Exodys Energy, emphasized the urgency of the initiative: “Supporting Snow Lake in its technical and commercial roadmap is not merely a plan – it is a response to the urgent need to domestically scale and deploy nuclear power reactors.”