Cycle on Jun 29, 2026

I will begin by listing the threads for this topic to check for any open research questions, watches, or specific directives from prior cycles.

I will fetch the market views for the core companies mentioned in the brief to establish their current financial standing, stock performance, and any recent corporate updates. This includes Cameco (CCJ) for uranium supply; NuScale Power (SMR), Oklo (OKLO), and Nano Nuclear Energy (NNE) for small modular reactors; and Constellation Energy (CEG) and Vistra (VST) on the utility side.

I will now pull the market view for NuScale Power (SMR).

I will fetch the market view for Oklo Inc. (OKLO) to understand its current standing.

I will fetch the market view for Nano Nuclear Energy (NNE) to understand its current standing.

I will fetch the market view for Constellation Energy (CEG) to see its current standing.

I will fetch the market view for Vistra Corp (VST) as well.

I will pull the sector view for Metals & Mining, which should give context on uranium mining companies, and look up Southern Company (SO) since it is one of the core utility companies mentioned in the brief. Let's first get Southern Company (SO)'s market view.

I will search the web for the latest developments regarding: 1. The Walmart and Constellation Energy nuclear PPA (from Dresden Clean Energy Center). 2. The U.S. NRC formal review of Nano Nuclear's KRONOS MMR construction permit application. 3. The DOE Reactor Pilot Program July 4, 2026 criticality deadline (which is coming up in a few days). Let's see if there are updates on other companies achieving criticality. 4. Recent uranium spot and long-term contract pricing trends. Let's run a web search for the Walmart and Constellation Energy PPA first.

I will fetch the official announcement from Constellation Energy's website to get the precise details and quotes regarding the Walmart nuclear PPA.

I will now search for details regarding the NRC's formal review of Nano Nuclear Energy's KRONOS construction permit application. Let's see what the latest news says about this, including the termination of Dr. Florent Heidet (the CTO) and the review start.

Let's fetch the news from Nano Nuclear Energy's website or Yahoo Finance about the NRC accepting the application and the CTO termination. First, let's fetch the page from Nano Nuclear Energy's website or Yahoo Finance. Let's do a search specifically on the CTO termination to see why Florent Heidet was terminated and who is the interim head.

Let's fetch the SEC 8-K filing or the StockTitan page regarding the termination of Dr. Florent Heidet to get the official details of this sudden leadership change. This is very important as NNE is a core company and has had a massive management change. Let's fetch `https://www.sec.gov/Archives/edgar/data/1923891/000149315226030000/form8-k.htm` if possible, or another site like StockTitan. Let's try StockTitan first.

Now, let's look up the NRC review of Nano Nuclear's KRONOS construction permit application. Let's fetch the news release from their website or Globenewswire to get the specifics. Let's do `web_fetch` for `https://nanonuclearenergy.com/nano-nuclears-kronos-mmr-and-the-university-of-illinois-urbana-champaign-advance-to-next-regulatory-milestone-as-u-s-nrc-formally-accepts-construction-permit-application-for-review/` or the Globenewswire link if it is cached. Let's try fetching the Nano Nuclear URL.

The article notes that the CPA was accepted by the NRC for review. However, wait, there is a news release from late June 2026. Let's look at the news in the market view for NNE: "NANO Nuclear Energy (NASDAQ: NNE) has announced that the U.S. Nuclear Regulatory Commission (NRC) has formally commenced its review of the Construction Permit Application for the company's KRONOS MMR™ microreactor project..." Wait, let's search for "NANO Nuclear Energy" NRC formal review June 2026 to see if there is a more recent milestone or if it's related to the start of review activities. Let's do a search.

Let's fetch the June 25, 2026 press release from Nano Nuclear's website to see the details of this announcement and the specific quotes. This is a very recent and important update that directly addresses the watch "NRC rules on Nano Nuclear's KRONOS Construction Permit Application" or at least shows its progression. Note that the watch is on the safety & environmental evaluation approval (CPA approval), which is expected by 2027, but this is the initiation of formal review. Let's fetch the page: `https://nanonuclearenergy.com/nano-nuclears-kronos-mmr-program-advances-as-us-nrc-initiates-formal-review-activities-with-university-of-illinois-urbana-champaign-and-nano-nuclear-energy/`.

This is a major update for Nano Nuclear (NNE) and its KRONOS MMR project. The NRC has officially kicked off its formal review of the Construction Permit Application (CPA), with the environmental assessment expected in Spring 2027 and the safety evaluation in early Fall 2027, which aligns with NANO Nuclear's expectation of starting construction in H2 2027. Now, let's search for updates on the DOE Reactor Pilot Program's July 4, 2026 criticality deadline. Let's see if any other companies have achieved or are about to achieve criticality at Idaho National Laboratory (INL). Let's run a search.

Let's search for any recent announcements (say, in the last week or two) about other companies achieving criticality under the Reactor Pilot Program or INL, given that the criticality deadline is July 4, 2026, which is in 5 days (today is June 29, 2026). Let's search with `freshness="month"` or `freshness="week"` to see if there are any new announcements.

Let's fetch the Idaho Statesman article from June 26 or so, or the Reuters article "US initiative opens up sites for advanced reactor roll-out" from June 24, 2026. This seems to be a very interesting regulatory/policy development regarding advanced reactors. Let's do a search on "US initiative opens up sites for advanced reactor roll-out" or fetch the article. Let's fetch the Reuters URL: `https://www.reuters.com/business/energy/us-initiative-opens-up-sites-advanced-reactor-roll-out--reeii-2026-06-24/`. Wait, the URL has double hyphens or a typo in the search result. Let's search for "US initiative opens up sites for advanced reactor roll-out" to get the exact URL or a clean copy.

Ah! Let's search for "At Idaho National Lab, reactor success and Trump’s nuclear program celebrated" or "Energy Secretary Chris Wright visited INL" from June 25 or 26, 2026. This is a very fresh article about the Reactor Pilot Program and Chris Wright visiting INL. Let's search for it.

Let's fetch the East Idaho News article: `https://www.eastidahonews.com/2026/06/inl-idaho-leaders-and-u-s-energy-secretary-launch-golden-age-of-nuclear-power/` to find out what was said, whether other startups have hit criticality, and the general progress of the Reactor Pilot Program towards the July 4, 2026 deadline. This is highly relevant to the watch `DOE Reactor Pilot Program July 4, 2026 Criticality Deadline`. Let's fetch it.

Ah, the page came back empty due to a skip to content or empty layout. Let's try searching for the text of that article or fetch another URL. Let's do a search for `"eastidahonews.com/2026/06/inl-idaho-leaders-and-u-s-energy-secretary-launch-golden-age-of-nuclear-power"` to see if we can exclude or find an alternative source, or let's search specifically for `"Valar Atomics" "criticality"` or other companies mentioned in that summary like `"Antares"` and `"Valar Atomics"`. Let's run a search.

Excellent! Let's examine the PowerMag article: `Valar Atomic's Ward 250 Becomes Second Reactor to Go Critical Under DOE Pilot Program` or the DOE announcement: `Department of Energy Celebrates Second Advanced Reactor Achieving Criticality`. Let's search for "Department of Energy Celebrates Second Advanced Reactor Achieving Criticality" or fetch the article from `https://www.energy.gov/articles/department-energy-celebrates-second-advanced-reactor-achieving-criticality`. Let's fetch it.

That's a fantastic finding! Valar Atomics' Ward 250 became the second advanced reactor to achieve criticality under the DOE's Reactor Pilot Program on June 18, 2026. This is a crucial development in the race to the July 4, 2026 criticality deadline. Let's see if there is a third reactor that has gone critical, or is about to go critical. Let's do a search for `"Reactor Pilot Program"` or `"criticality"` with `freshness="week"` or `sort="recent"` to see if there is any other company, or let's search for "third reactor" or other participants like "Aalo Atomics" or "Atomic Alchemy" or "Deep Fission" achieving criticality. Let's run a search.

The web search budget is spent, which is perfectly fine because we have already found highly valuable, fresh, and concrete evidence on multiple fronts: 1. **Constellation Energy & Walmart's Landmark Nuclear PPA (June 23, 2026):** - Walmart signed its first-ever long-term nuclear Power Purchase Agreement (PPA) with Constellation Energy (CEG). - The agreement secures approximately 176 MW of wholesale supply from Constellation's Dresden Clean Energy Center in Illinois, including 30 MW of expanded generating capacity (via planned uprates). - Two 15-year terms starting in 2029 and 2030 will power a high-tech perishable distribution center in Belvidere, IL, and support local grids. - This represents a key expansion of corporate nuclear PPAs beyond tech/hyperscalers into massive retail and supply-chain players. We will update the existing PPA finding or create a new one. Wait, let's look at the existing findings: - `meta-vistra-nuclear-ppa-2026` is about Meta and Vistra. - `uranium-pricing-supply-constraints-2026` is about uranium. - Let's write a new finding or update/expand a relevant one. Let's create a finding with a stable slug `corporate-nuclear-power-purchase-agreements-2026` or reuse/expand `meta-vistra-nuclear-ppa-2026`? The instructions say "Name a slug for the DURABLE SUBJECT it tracks: the throughline, entity, or running debate... never the transient story-of-the-day." A stable slug like `corporate-nuclear-power-purchase-agreements` can track all the corporate/tech PPAs, or we can update `meta-vistra-nuclear-ppa-2026` by expanding its scope to general corporate nuclear PPAs or create a fresh one like `corporate-nuclear-power-purchase-agreements` to track both Meta and Walmart. Let's create a durable slug `corporate-nuclear-power-purchase-agreements` to consolidate these corporate/retail/tech nuclear PPAs. 2. **Nano Nuclear Energy (NNE) Leadership Shakeup & NRC KRONOS Review (June 2026):** - On June 22, 2026, Nano Nuclear Energy terminated its Chief Technology Officer and Head of Reactor Development, Dr. Florent Heidet. CEO James Walker was appointed as the Interim Head of Reactor Development. This was disclosed in an 8-K filing on June 24, 2026. - Meanwhile, on June 25, 2026, NNE announced that the U.S. NRC formally initiated its review of the Construction Permit Application (CPA) for the KRONOS MMR™ microreactor at the University of Illinois Urbana-Champaign (review kickoff meeting occurred on June 23, 2026). - The NRC's schedule indicates the environmental assessment will be completed in Spring 2027 and the safety evaluation in early Fall 2027, aligning with NNE's goal to begin construction in H2 2027. - We will update the existing note `nano-nuclear-energy-nrc-milestone-2026` using its stable slug. 3. **DOE Reactor Pilot Program Criticality Race (June 2026):** - On June 18, 2026, Valar Atomics' Ward 250 became the second advanced reactor to achieve zero-power fueled criticality under the DOE's Reactor Pilot Program. - The experiment took place at the Utah San Rafael Energy Lab in Emery County, Utah, making it the first DOE-authorized reactor built outside of a national laboratory. - This follows Antares Nuclear's Mark-0 reactor achieving criticality on June 4, 2026, at Idaho National Laboratory. - The Trump administration's Reactor Pilot Program set a deadline of July 4, 2026, for startups to achieve criticality. - We will update the existing note `doe-reactor-pilot-program-criticality-race-2026` using its stable slug. Let's read the current notes first using `read_notes` to see how they are structured so we can update them accurately.

Let's look at the open threads to see if we can resolve any of them. The list of threads includes: 1. `019eca5b-10bd-7303-bcb6-37ca0053617b` — "Cameco and Orano Close Cigar Lake Buyout from TEPCO" (dated catalyst: Sept 30, 2026). 2. `019eca5b-06dc-71df-91ff-8bc240502596` — "DOE Reactor Pilot Program July 4, 2026 Criticality Deadline" (dated catalyst: July 4, 2026). 3. `019ea648-6b84-7910-aa5b-6d1378599bba` — "NRC rules on Nano Nuclear's KRONOS Construction Permit Application" (dated catalyst: Dec 31, 2027). Let's record events on these watches if they have fired. Wait, did the "DOE Reactor Pilot Program July 4, 2026 Criticality Deadline" fire? The description says: "originally called for at least three companies to meet the deadline. Antares Nuclear achieved zero-power criticality in early June, and Energy Secretary Chris Wright testified that two more are expected to achieve criticality before July 4, 2026. Monitor for announcements of other advanced nuclear companies (such as Oklo or other participants) achieving criticality at INL by the July 4, 2026 deadline." We have a major event! On June 18, 2026, Valar Atomics' Ward 250 became the second advanced reactor to achieve criticality under the program. It was built outside of a national lab (at the Utah San Rafael Energy Lab in Emery County, Utah). Wait, the deadline is July 4, 2026, which is in 5 days, so the watch is still ongoing or we can record a progress event on it. Since the deadline is July 4, 2026, and we are on June 29, 2026, we can record an event for Valar Atomics' criticality, but keep the watch open since there might be a third company achieving criticality by July 4, 2026. Yes! Let's call `record_event` with `resolves: false` since the deadline has not passed yet, and there might be more announcements before or on July 4. Let's do that. First, let's write or update the notes. Let's prepare the updates for: 1. `doe-reactor-pilot-program-criticality-race-2026` to include Valar Atomics' criticality on June 18, 2026. 2. `nano-nuclear-energy-nrc-milestone-2026` to include the June 22, 2026 termination of Dr. Florent Heidet (CTO) and appointment of CEO James Walker as Interim Head of Reactor Development, as well as the June 25, 2026 announcement of the NRC initiating formal review of the KRONOS construction permit application (review kickoff meeting on June 23, 2026). 3. Create a new note or update `meta-vistra-nuclear-ppa-2026`? Wait, the instructions say: "Name a slug for the DURABLE SUBJECT it tracks: the throughline, entity, or running debate ... never the transient story-of-the-day ... When this cycle advances a subject you already have a finding for, call write_note with that SAME slug to revise it in place — an upsert that snapshots a new revision. Mint a fresh slug ONLY for a genuinely new subject." Wait, can we update `meta-vistra-nuclear-ppa-2026`? The title of `meta-vistra-nuclear-ppa-2026` is "Meta Secures Landmark 2.6 GW Nuclear PPA with Vistra to Power AI Data Centers". If we rename the title of this note to something more durable like "Corporate Nuclear Power Purchase Agreements Accelerate Across Tech and Retail Sectors" and reuse the slug `meta-vistra-nuclear-ppa-2026`, or is it better to keep `meta-vistra-nuclear-ppa-2026` and mint a new slug? Wait, "corporate-nuclear-power-purchase-agreements" is a much more durable slug that can track all corporate nuclear PPAs (both Meta-Vistra, Walmart-Constellation, and any future ones). Let's see if we can consolidate or keep them. Let's check `meta-vistra-nuclear-ppa-2026` to see what is already there. Let's fetch the note using `read_notes`? Wait, we only have the preview. Let's write a new note with a more durable slug like `corporate-nuclear-power-purchase-agreements` and we can cite the Walmart-Constellation PPA, and also mention the Meta-Vistra and other PPAs. But wait! The instructions say: "reusing a slug updates the existing note and snapshots the prior content into note_revisions. ... Before you write, scan your prior findings (the injected block + read_notes) for the slug that already owns this subject and reuse it; if you find yourself coining a near-synonym of an existing slug, stop and reuse the existing one." Ah! Is `meta-vistra-nuclear-ppa-2026` a near-synonym of a corporate nuclear PPA note? Yes, it is a corporate nuclear PPA. But wait, we also have `meta-oklo-smr-power-campus-2026` which is also a PPA. Let's see if we can reuse `meta-vistra-nuclear-ppa-2026` or if we should keep it separate. Let's keep `meta-vistra-nuclear-ppa-2026` as the Vistra/Meta specific one, or let's create a new note with the slug `corporate-nuclear-power-purchase-agreements` to track the general trend of corporate nuclear PPAs, including the new Walmart-Constellation PPA. Actually, let's create a specific note for the Walmart-Constellation PPA with a durable slug like `utility-corporate-nuclear-power-purchase-agreements` or just reuse `meta-vistra-nuclear-ppa-2026` if we want to expand it to "Corporate Nuclear Power Purchase Agreements" generally. Let's look at `meta-vistra-nuclear-ppa-2026` and see what's in it. Wait, we can't read the note body directly unless we write it, but we can write a note with the slug `corporate-nuclear-power-purchase-agreements` to track the wider retail and corporate utility-level adoption, which is a major theme in the brief ("Track corporate power purchase agreements, especially tech companies contracting directly with nuclear operators for data center power..."). Let's write a note for the Walmart-Constellation PPA. Let's use the slug `corporate-nuclear-power-purchase-agreements` to track this broader trend. Let's first write the note for the DOE Reactor Pilot Program. The existing note is `doe-reactor-pilot-program-criticality-race-2026`. Let's update it. We will describe both Antares Nuclear's Mark-0 criticality on June 4, 2026, and Valar Atomics' Ward-250 criticality on June 18, 2026, as part of the race to the July 4, 2026 deadline. Let's call `write_note` for `doe-reactor-pilot-program-criticality-race-2026`. We need to name the sources and carry 1-2 verbatim quotes. Our sources for this are: 1. DOE Announcement on Valar Atomics (June 18, 2026): `https://www.energy.gov/articles/department-energy-celebrates-second-advanced-reactor-achieving-criticality` 2. Fox News or other sources for Antares Nuclear (June 4, 2026): `https://www.foxnews.com/tech/antares-reaches-reactor-criticality-trump-pilot-program-marking-major-nuclear-milestone` (already in the system or we can cite it). Let's write this note.

Now, let's update the Nano Nuclear Energy note. The existing note is `nano-nuclear-energy-nrc-milestone-2026`. We will update it to include: 1. The June 22, 2026 termination of Dr. Florent Heidet as CTO and Head of Reactor Development, with CEO James Walker taking over as Interim Head of Reactor Development. 2. The June 25, 2026 announcement that the NRC has formally kicked off its review of the Construction Permit Application (CPA) for the KRONOS MMR™ microreactor at the University of Illinois Urbana-Champaign (U. of I.). 3. The NRC's projected schedule: environmental assessment in Spring 2027, safety evaluation in early Fall 2027, and NNE's target of starting construction in H2 2027. Let's call `write_note` for `nano-nuclear-energy-nrc-milestone-2026`. We will cite: 1. NNE SEC 8-K filing on CTO termination: `https://www.stocktitan.net/sec-filings/NNE/8-k-nano-nuclear-energy-inc-reports-material-event-d957f7c724c9.html` 2. NNE Press Release on NRC Review (June 25, 2026): `https://nanonuclearenergy.com/nano-nuclears-kronos-mmr-program-advances-as-us-nrc-initiates-formal-review-activities-with-university-of-illinois-urbana-champaign-and-nano-nuclear-energy/` 3. NNE Press Release on CPA acceptance (May 20, 2026): `https://nanonuclearenergy.com/nano-nuclears-kronos-mmr-and-the-university-of-illinois-urbana-champaign-advance-to-next-regulatory-milestone-as-u-s-nrc-formally-accepts-construction-permit-application-for-review/` Let's do this write.

Now let's write a note for the Walmart and Constellation Energy nuclear PPA. Wait, let's look at the existing notes again. We have `meta-vistra-nuclear-ppa-2026` which is "Meta Secures Landmark 2.6 GW Nuclear PPA with Vistra to Power AI Data Centers". Let's see if we should create a new note with a slug like `corporate-nuclear-power-purchase-agreements` to capture the broader trend of corporate nuclear PPAs, or if we should write a specific note for the Walmart-Constellation deal. Wait, the instructions say: "Name a slug for the DURABLE SUBJECT it tracks: the throughline, entity, or running debate ... never the transient story-of-the-day ... Mint a fresh slug ONLY for a genuinely new subject. Before you write, scan your prior findings (the injected block + read_notes) for the slug that already owns this subject and reuse it; if you find yourself coining a near-synonym of an existing slug, stop and reuse the existing one." Wait, can we use a durable slug like `corporate-nuclear-power-purchase-agreements`? Yes, "corporate-nuclear-power-purchase-agreements" is a highly durable subject that tracks the throughline of corporate power purchase agreements (which is explicitly mentioned in the brief: "Track corporate power purchase agreements, especially tech companies contracting directly with nuclear operators for data center power..."). Let's write a note with the slug `corporate-nuclear-power-purchase-agreements`. Inside this note, we will discuss: 1. Walmart's landmark 15-year nuclear PPA with Constellation Energy (CEG) announced on June 23, 2026. 2. How this marks Walmart's first nuclear PPA and one of the first of its kind between a major retailer and a nuclear facility, signaling that the nuclear resurgence is expanding beyond tech/hyperscalers into traditional retail and supply-chain giants. 3. The details of the Walmart-Constellation deal: 176 MW of wholesale supply from the Dresden Clean Energy Center in Illinois (including 30 MW of expanded generating capacity via planned uprates/efficiency upgrades), starting in 2029 and 2030. 4. We can also reference the existing `[[meta-vistra-nuclear-ppa-2026]]` PPA (using the wikilink syntax) to show the broader context of tech hyperscalers contracting directly with nuclear operators. This perfectly links the findings together! Let's do this write. Our sources are: 1. Constellation Energy Press Release (June 23, 2026): `https://www.constellationenergy.com/news/2026/06/constellation-and-walmart-announce-long-term-agreement-to-support-reliable-emissions-free-nuclear-energy-in-illinois.html` 2. Market view for Constellation Energy (CEG): `/markets/CEG/2026/06/29` Let's call `write_note`.

Excellent! Let's record an event on the open thread/watch for the July 4, 2026 criticality deadline. The thread ID is `019eca5b-06dc-71df-91ff-8bc240502596`. The watch is "DOE Reactor Pilot Program July 4, 2026 Criticality Deadline". Let's call `record_event` to note that Valar Atomics' Ward 250 became the second reactor to achieve criticality on June 18, 2026. Since the deadline is July 4, 2026, and there might still be a third reactor achieving criticality (or there might be a final report on July 4), we should set `resolves: false` (keep it open) so that the next cycle can check the final status on/after July 4. Let's do that!

Awesome! Let's check if there are other threads we should record or resolve. First, wait, we have a watch: `019ea648-6b84-7910-aa5b-6d1378599bba` — "NRC rules on Nano Nuclear's KRONOS Construction Permit Application" (dated catalyst: Dec 31, 2027). Since the NRC has formally initiated the review, we can record a progress event on this watch too! This is a great practice to show that the watch is active and progressing. Let's record an event on it. The thread ID is `019ea648-6b84-7910-aa5b-6d1378599bba`. Let's call `record_event` with `resolves: false`.

Excellent. Now let's check if we should record any new watches or threads. Wait! The termination of Dr. Florent Heidet as CTO of Nano Nuclear Energy (NNE) is a major event. It would be good to watch for the appointment of a permanent CTO or Head of Reactor Development. This is a crucial forward-looking development for NNE as a key player in SMRs, especially as they enter the detailed NRC safety evaluation in 2027. Let's register a watch for this: - Title: "Nano Nuclear Energy Appoints Permanent CTO" - Watch type: `tripwire` or `live_process` - Cardinality: `one_shot` - Description: "Monitor for Nano Nuclear Energy (NNE) appointing a permanent Chief Technology Officer or Head of Reactor Development to replace Florent Heidet." Let's do this. This is a very professional addition.

Ah! I missed `watch_type`. Let me check the declaration: `watch_type` is an enum of `[dated_catalyst, scheduled_release, metric_threshold, live_process, tripwire, thesis_breaker]`. Let's use `live_process` or `tripwire`. Let's use `live_process`. Let's call it again.

Perfect! The watch has been registered. Let's see if there are other watches we should register. What about the Walmart-Constellation PPA? The terms begin in 2029 and 2030, which is long-term, so we don't need a specific watch for the close/start of the PPA yet, but it's good to keep tracking utility-level PPAs. Wait, are there any other open threads that can be resolved or recorded? Let's check `list_threads` again: 1. `019eca5b-10bd-7303-bcb6-37ca0053617b` — "Cameco and Orano Close Cigar Lake Buyout from TEPCO" (expected close Q3 2026). This is still forward-looking since we are in late June 2026 (Q2). We will keep it open. 2. `019eca5b-06dc-71df-91ff-8bc240502596` — "DOE Reactor Pilot Program July 4, 2026 Criticality Deadline". We recorded an event for Valar Atomics' criticality but kept it open. 3. `019ea648-6b84-7910-aa5b-6d1378599bba` — "NRC rules on Nano Nuclear's KRONOS Construction Permit Application". We recorded an event for the formal review initiation but kept it open. So all existing threads/watches have been addressed and updated with fresh events, and we've registered a new watch for NNE's permanent CTO search. I am ready to call `finish_cycle`. Let's do that!

I have completed the research cycle for this topic. Here is a summary of the findings and updates made: ### 1. Corporate Nuclear PPAs Expand to Retail: Walmart & Constellation Energy * **What Happened:** On June 23, 2026, **Walmart (WMT)** and **Constellation Energy (CEG)** announced a landmark 15-year nuclear Power Purchase Agreement (PPA) for emissions-free electricity from the Dresden Clean Energy Center in Illinois. * **Significance:** This is Walmart's first-ever nuclear PPA and one of the first major agreements between a large retailer and a nuclear operator in the U.S. It signals that the nuclear energy resurgence is expanding beyond tech hyperscalers (like Meta's PPA with Vistra) into traditional retail and supply-chain giants. * **Details:** The agreement covers **176 MW of wholesale supply**, including 30 MW of expanded generating capacity facilitated through planned "uprates" (efficiency upgrades) at the Dresden plant. This power will support Walmart's high-tech perishable distribution center in Belvidere, IL, starting in 2029 and 2030. * **Living Document Update:** Created a new durable note tracking this trend: `[[corporate-nuclear-power-purchase-agreements]]`. ### 2. Nano Nuclear Energy (NNE): NRC Review Commences Amid CTO Ouster * **What Happened:** Nano Nuclear Energy announced on June 25, 2026, that the **U.S. NRC has formally initiated its review** of the Construction Permit Application (CPA) for the KRONOS MMR™ microreactor at the University of Illinois Urbana-Champaign. * **Timeline:** The NRC's projected schedule targets the completion of the environmental assessment in Spring 2027 and the safety evaluation in early Fall 2027, aligning with NNE's goal of starting construction in H2 2027. * **Leadership Shakeup:** This regulatory progress coincided with the abrupt termination of Chief Technology Officer **Dr. Florent Heidet** on June 22, 2026. CEO James Walker has stepped in as the Interim Head of Reactor Development. The sudden loss of core technical leadership caused NNE shares to tumble nearly 11% to **$19.87** (a 30.6% decline over the past month). * **Living Document Update:** Updated `[[nano-nuclear-energy-nrc-milestone-2026]]` to reflect these major changes. * **New Watch Registered:** Registered a new watch tracking NNE's appointment of a permanent CTO to lead KRONOS reactor development. ### 3. DOE Reactor Pilot Program: Valar Atomics Achieves Criticality * **What Happened:** On June 18, 2026, **Valar Atomics' Ward 250** successfully completed a zero-power fueled criticality demonstration at the Utah San Rafael Energy Lab in Emery County, Utah. * **Significance:** Ward 250 is the second advanced reactor to achieve criticality under the DOE's Reactor Pilot Program ahead of the July 4, 2026 deadline, following **Antares Nuclear's Mark-0** on June 4, 2026. This is also the first DOE-authorized reactor built and operated outside of a national laboratory. * **Living Document Update:** Updated `[[doe-reactor-pilot-program-criticality-race-2026]]` to capture this historic milestone. * **Watch Event Recorded:** Recorded a progress event on the "DOE Reactor Pilot Program July 4, 2026 Criticality Deadline" watch, keeping it open to monitor for any third reactor announcements before the fast-approaching deadline.