To the Moon: Nuclear Energy’s New Frontier

The investment thesis for nuclear energy is often confined to meeting growing electricity demand. However, a new frontier is emerging that could redefine the sector’s growth trajectory: space exploration. 

NASA recently announced the successful completion of a cold-flow test campaign for a flight reactor engineering development unit, the first such milestone since the 1960s. Nuclear propulsion has multiple benefits, including shortened travel times and expanded mission capabilities, which means this technology will lay the foundation to explore further into the solar system than ever before, according to the statement.

BWX Technologies (BWXT), a holding in the Range Nuclear Renaissance Index ETF (NUKZ), led the fabrication of the 44-inch by 72-inch unit used in these tests. The federal government’s commitment to this advancement is further solidified by the renewed NASA and Department of Energy (DOE) partnership to deploy a fission surface power system on the Moon by 2030.

Diversified Applications for Nuclear

While propulsion captures headlines, the nuclear renaissance extends into infrastructure and medicine. The lunar mission specifically targets 40-to-100 kilowatt reactors capable of operating for 10 years in the lunar night. 

Key players in this sub-sector include:

• Lockheed Martin (LMT): Providing the digital backbone and vehicle integration for SNP and the Orion spacecraft.
• Nano Nuclear Energy (NNE): Actively soliciting commercial partnerships for its “LOKI” micro-modular reactor for extraterrestrial use.
• Mirion Technologies (MIR): Highlighting the versatility of the sector, Mirion utilizes nuclear technology for medical isotopes and radiation safety, proving that the industry’s value proposition isn’t limited to the power grid.

As of February 9, NUKZ maintains exposure to these companies, with LMT in its top-three holdings. NUKZ remains a primary vehicle for investors seeking access to the ongoing advancements in the nuclear space. 

For investors interested in the broader space opportunity, LMT is also a holding of the Procure Space ETF (UFO).

To stay current on developments in this sector, be sure to join our upcoming 30-minute discussion “Nuclear Power is on the Rise. Is Your Portfolio Ready?” on Thursday, March 19, 2026 at 12:30 pm ET. Follow the link here to register.

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For more news, information, and analysis, visit the Nuclear Energy Content Hub.

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