Name: Going Nuclear With GE Vernova
Uploaded: 2026-02-06T22:33:00Z
Duration: 6 min 31 s
Description: Scott Strazik, CEO of GE Vernova, tells Barron’s Andy Serwer about upcoming products, including nuclear plants in Canada and the United States. This conversation was filmed on Jan. 21, 2026 at the World Economic Forum in Davos, Switzerland.

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Scott Strazik, CEO of GE Vernova, tells Barron’s Andy Serwer about upcoming products, including nuclear plants in Canada and the United States. This conversation was filmed on Jan. 21, 2026 at the World Economic Forum in Davos, Switzerland.

https://m.wsj.net/video/20260206/921fb3ca-431a-42dc-b9ae-3fc0dd9547f6/1/hls/manifest-hd-wifi.m3u8

Going Nuclear With GE Vernova

What are the latest products that you have that you're most keen on, Scott?

Probably the one that's emerging the fastest is our small modular reactor. And that is moving quickly. So think to yourself in the size of a European football field, we put-

Is that bigger or smaller than an American football field?

It's about the same. It's rounding. I'm just doing it 'cause we're in Europe, you know?

Andy: Football field.

But fair enough. Football field.

Andy: Either hemisphere, any hemisphere.

Exactly.

Andy: Any football field, anywhere. Okay, go.

Exactly. We can build a small modular reactor that creates 300 megawatts.

Andy: This is a nuclear reactor?

Nuclear reactor. That nuclear combustion happens underground and all the electrical equipment is in a turbine building on the ground. That 300 megawatts, to just make that real, that'll power every day about 300,000 homes, that's 300,000 homes in the US. Frankly in Europe, it's even more. That's important because we don't talk a lot about power density or how much electricity can you create using the least amount of space, but that's gonna become a theme over time. So it's a very attractive product because it's power dense and it's zero carbon. And we're in construction on the first one right now in Ontario, outside of Toronto. In November, we signed an MOU with both the US and Japanese government for up to 100 billion dollars of financing of new small modular reactors, which would be 40 in our case. And we see a lot of interest. A lot of our conversations this week are with countries that are looking at where the US is going and working to draft in that same direction. So we're incredibly excited about where small modular reactors are going. Do you have good leads in the United States or are we really gonna build a new nuclear power plant in the United States?

We have our first application into the NRC, the Nuclear Regulatory Commission. We would expect to get approval by summertime from them to start construction on the first plant. The first plant-

Can you tell us where it is?

In Tennessee.

Okay.

Yeah. So this is happening and I would-

Andy: And who are you doing that for?

In that case it's with Tennessee Valley Authority.

Andy: Oh, yeah. Old school power producer.

Yes, but at the same time, I'm highly confident we'll come out of this year with offtake agreements with at least one hyperscaler and other counterparties. So this is happening. Now, it doesn't happen tomorrow. From when we start construction, and we will be in construction by '27 on the first one. It takes four years until the electrons are available. So in the US we're talking about new nuclear electrons and directionally 2031, and that can feel like a while. But while we're building that, we also have the ability in the US to uprate our existing nuclear. So for context, we see a pathway to about five gigawatts. So that would be, you know, 5 million homes in the US of incremental power, just uprating existing plants. And that will happen between now and the small modular reactor being commissioned.

Yeah, I mean it goes by quick. It's like your kid's grown up.

Exactly.

Right? So how does the size, when you're talking about this football field, compare to a traditional nuclear reactor site?

Well, it is directionally probably takes up a landmass about half to a third per megawatt. So, but what's really important with it is traditional nuclear plants were much, much bigger. And they were a gigawatt plus instead of 300 megawatts. And then the challenge with traditional nuclear is every time they were built, they were all a little different. And because they were all a little different, they very rarely were on budget or on schedule. By getting to a smaller size that you can really confidently deliver in a smaller footprint, we have a higher degree of confidence we're gonna be able to come down the cost curve because we're gonna make the same thing over and over again. And that's part of where, in this regard, the administration has been incredibly supportive of us with this trade deal with Japan because they see that if they enable 40 to get built, they understand we will come down that cost curve. And if we build 40 of these in the next decade, we're gonna like the affordability dynamics. It doesn't mean the first one's cheap because it's not gonna be, but what we need to do is continually invest in new businesses and products that we have confidence we can get there over time. So what is the price tag? We're working our way through that. The reality with the first one we're building is we're very fortunate because Canada already has a very high zero carbon footprint. Ontario specifically because they have a lot of nuclear, but they also have a lot of hydro. And they wanna finish their decarbonization journey. So the first one we're building right now is more of a cost plus model. We're building it, we're learning. And the Canadian government is enabling it. The fixed price to start building these, we're figuring out right now.

So there's like 20 billion, 100 billion, 1 billion? Am I close to 1 billion or 100 billion?

The way I would think about it, a different way to contextualize it is if you think about gas power today, because we have a very big gas power business. It's directionally for an equivalent amount of electricity, it probably costs twice as much. So there's that premium, but it's a zero carbon solution. But it is twice as expensive today as building a gas plant.

Alright, so we're all gonna look up and see what a gas plant costs. I'm not, okay. Can you tell us what a gas plant costs?

So if we put the numbers-

Andy: I gotta get there.

A gigawatt, a gigawatt sized plant. People would tell you that costs two and a half to $3 billion today to build. So think to yourself an equivalent sized small amount of the reactor. 5 billion, just double it.

Right, right. And you guys are building the turbines specifically, or the whole thing? Or what piece is that?

We do the whole power island. So, you know, everything that is creating the electricity, we do.

Andy: The power train.

The power train. Very good.

Right.