Trump to help spark a nuclear energy ‘renaissance,’ investor says
Nuclear energy is set for a "renaissance" that will be accelerated by backing from U.S. President Donald Trump's administration.
That's according to Yuri Khodjamirian, chief information officer at Tema ETFs, who noted that the Trump administration is "very, very interested in backing this technology.' However, he also warned investors that developing this energy source is "going to take time."
New nuclear technology approvals take "10 years to get done," Khodjamirian said, but added that the nuclear re-emergence will likely be accelerated under the new Trump administration.
Speaking to CNBC's Silvia Amaro on Tuesday's "Squawk Box Europe," Khodjamirian said his investment fund has its eyes on firms with a history of developing nuclear technology, such as U.S.-based BWX Technologies, which builds nuclear reactors for military carriers and submarines.
Khodjamirian said Tema is being "very selective in a new technology called small scale modular reactors."
Small scale modular reactors (SMRs) are advanced nuclear reactors with the ability to provide around one-third of the generating capacity of traditional nuclear power reactors, according to the International Atomic Energy Agency.
SMRs take up less physical space compared to conventional reactors and produce a large amount of low-carbon electricity.
"There's a lot of excitement there, and equally, a lot of loss-making companies that have unproven technologies, and we're going for companies that have projects that are approved," Khodjamirian said.
The nuclear energy renaissance is partly driven by a wave of people that are "realizing that it's a stable, clean source of energy," the chief investment officer said, adding that he believes that "there is a need for extra investment" in