Market - Traction Uranium

MARKET

Global Uranium Market

Nuclear energy provides about 10% of the world's electricity from about 440 power reactors
Nuclear provides an estimated one-quarter of the world’s low-carbon electricity.
Nuclear is the world's second largest source of low-carbon power (26% of the total in 2020)
Over 50 countries use nuclear energy in ~220 research reactors
As of mid-2025, there are ~416 commercial nuclear reactors operating worldwide supplying about 376 GW of capacity, with ~62–70 reactors currently under construction, reflecting ongoing global nuclear development

Source: World Nuclear Association, IAEA PRIS

Small Modular Reactors (SMRS)

The global market for SMR technology is about $400 to $600 billion, according to Stantec.
In late 2025 the U.S. Department of Energy awarded $800 million in federal grants to the Tennessee Valley Authority and Holtec to advance deployment of advanced light-water SMRs, signaling growing government backing for domestic nuclear capacity and a long-term market for uranium fuel.
In November 2025, the Government of Canada announced up to C$2.5 billion in funding under the Net Zero Accelerator to support deployment of small modular reactors (SMRs) and associated nuclear fuel infrastructure, signaling long-term policy commitment to domestic energy security and the nuclear fuel supply chain.
Traction Uranium’s Aurora project has the potential to supply a steady stream of uranium, which is essential for fueling Small Modular Reactors (SMRs). SMRs require consistent and reliable fuel sources to maintain uninterrupted power generation.

Source: Government of Canada: SMR Action Plan

RBC: Canada’s Big Plans for Small Modular Nuclear Reactors
World Nuclear News

World Nuclear Association, IAEA PRIS

SMRs and Artificial Intelligence (AI)

Energy provided through the use of uranium has pervasive uses in the Artificial Intelligence domain and operations as well. SMRs can help sustain the exponentially increasing AI operations demand by providing reliable, clean and scalable power sources:

Reliable and Consistent Energy Supply

AI systems, especially those involved in data centers, machine learning, and high-performance computing, require a stable and continuous energy supply. SMRs can provide a consistent power source, reducing reliance on intermittent energy sources like wind or solar. This is crucial for data centers that operate 24/7, as power fluctuations can disrupt operations and affect performance.

Scalable Power for Growing AI

SMRs offer a scalable solution for power generation, where additional reactors can be added incrementally to meet growing energy needs. This modular approach is particularly useful for adapting to the expanding energy demands of AI without overcommitting resources upfront.

Reduced Carbon Footprint

AI operations, especially data centers, are energy-intensive and contribute significantly to carbon emissions. SMRs produce low-carbon or carbon-free energy, which can help AI companies meet their sustainability goals and reduce their overall environmental impact. This is becoming increasingly important as organizations strive to align with global zero emissions targets.

Energy Independence for Remote AI Applications

For remote or off-grid AI applications, such as those in isolated research stations, autonomous vehicles, or satellite ground stations, SMRs can provide a localized and independent power supply. This capability is valuable in areas where traditional power infrastructure is unavailable or unreliable.

Global Uranium Size & Forecast

Athabasca Basin Region

Canada's uranium reserves are concentrated primarily in northern Saskatchewan's Athabasca Basin, which is renowned for containing some of the world's richest uranium deposits. The uranium ore found here often has grades 10 to 100 times higher than the global average, making it one of the most significant sources for high-grade uranium globally.
The Athabasca Basin is estimated to supply approximately 20% of global uranium production, underscoring its strategic importance to the global nuclear fuel supply chain.
Saskatchewan ranks as the top mining jurisdiction in Canada and is seventh globally according to the Fraser Institute's 2024 Annual Mining Survey. This position highlights its high attractiveness for investment in the mining sector due to strong geological potential and favorable policy conditions.
Due to the Athabasca Basin, Canada is the second-largest producer of uranium globally. Ore grades can exceed 20% U₃O₈, more than 100x the global average grade of approximately 0.1–0.2%.

Source: Government of Saskatchewan: Saskatchewan Third in the World for Mining Investment Attractiveness National Resources, Canada Visual Capitalist: Athabasca Basin, The World’s Highest Grade Uranium District

World Nuclear Association, 2025