The U.S. Department of Transportation's Maritime Administration (MARAD) and CORE POWER (US) Inc. signed an agreement to accelerate the commercial, industrial, and regulatory pathways for U.S.-flagged nuclear-powered commercial ships.
Fueled by small modular reactor (SMR) technology, this first-of-its-kind partnership will advance the President Trump's agenda to strengthen American shipping and secure energy dominance.
"President Trump has made it clear that American energy dominance and maritime strength go hand in hand," said Maritime Administrator Stephen M. Carmel. "This framework ensures that the United States leads the world with a secure U.S.-flagged fleet. Nuclear propulsion is a serious commercial opportunity, but it must be approached as a complete system - safe, secure, licensable, and investable.”
"China is already moving toward nuclear-powered commercial shipping. That should focus minds in Washington," said Mikal Bøe, Founder and CEO of CORE POWER. "America does not regain maritime strength by building a slightly better version of yesterday's ship. This is a new dawn for American shipping: not catching up using an old model, but making American shipping relevant again by leading the next one.”
Under the Memorandum of Cooperation, MARAD and CORE POWER will establish a collaborative framework to navigate SMR regulatory acceptance, port operations, workforce credentialing, fuel and lifecycle services, insurance, and finance. The announcement comes ahead of the International Atomic Energy Agency's ATLAS launch forum on nuclear applications at sea.