Small Modular Nuclear: VC-Backed Developer Targets 800 Sites in Europe

Bret Kugelmass, CEO of Last Energy, reveals how his team is cutting nuclear build costs, landing contracts in the UK, Poland & Romania, and scaling a $200M-per-unit model to decarbonize global power.My guest today is Bret Kugelmass, Founder and CEO of Last Energy.In addition, Bret is…The podcast host at Titans of NuclearManaging Director at The Energy Impact CenterFormer CEO of Airphrame, a drone company that he sold to a Fortune 500 buyerA graduate of the Stanford School of EngineeringLast Energy is a VC-backed full-service developer of small modular nuclear power projects with the goal of transforming the nuclear power industry by dramatically reducing the time and cost of construction. Their mission is to decarbonize global energy production and increase access to clean, affordable power. They are targeting 2025 for its first units, which require around $200 million to build, and they are investigating 800 other potential sites to deploy the units across Europe.In this episode, we talked about:The three most common misperceptions about nuclear energyWhat he learned from 800 interviews with nuclear energy expertsCommon mistakes made by 50 next-gen nuclear startupsThe outsized role that construction finance plans in the overall cost of nuclear powerLast Energy’s initial contracts to build small modular nuclear reactors in the UK, Poland, and RomaniaWhat he means by this quote: “We’re innovative in the way that we are not trying to be overly innovative. We don't reinvent the reactor core, the physics, the chemistry, the materials.”How to avoid multiplying risksThe role of business model vs. tech innovation to get clean energy to marketThe distinction between corporate and project finance for their go-to-market strategyAnd lots moreHope you enjoy it!And give Bret and Last Energy a shout-out on LinkedIn, Slack, or Twitter by sharing this podcast with your people.---Entrepreneurs for Impact is on a mission to help climate innovators grow faster with new investment capital, share best practices among peers, expand their networks, and reach their full potential.Here's our weekly newsletter — A 3-minute summary of climate tech startups, better habits, and deep work trends: https://entrepreneursforimpact.substack.comOur main program is a Climate CEO Mastermind peer group community: https://entrepreneursforimpact.comOur invite-only cohorts of 12 executives catalyze personal development and business growth via monthly meetings, annual retreats, and 1:1 coaching and strategy calls. Today’s highly curated Mastermind members represent over $8B in market cap or assets under management.Programs are led by Dr. Chris Wedding — 4x founder, $1B of investment experience, and Duke University and UNC-Chapel Hill professor, with 70,000+ professional students taught, 25 years of meditation, an obsession with constant improvement, and far too many mistakes to keep to himself.

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