Global electricity demand is surging, set to rise at a rate of around 4% annually according to the International Energy Agency (IEA).
In sectors where reliability is imperative, current battery technology is struggling to handle the variable outputs from renewable resources such as wind and solar.
Nuclear power could be the answer, according to Amazon, Google, Meta and Dow among other businesses.
A cross-industry coalition has come together under the guidance of the World Nuclear Association.
These companies have committed to a pledge that aims to at least triple global nuclear capacity by the year 2050.
“The unprecedented support announced today by some of the world’s most influential companies to at least triple global nuclear capacity by 2050 sends a clear signal to accelerate policy, finance and regulatory changes that enable the rapid expansion of nuclear power,” said Sama Bilbao y Leon, Director General of the World Nuclear Association.