The Zhitong Finance App learned that on Wednesday local time, the US Senate Environmental and Public Works Committee (EPW) voted to pass a comprehensive bill that would speed up the deployment of a new batch of advanced nuclear reactors. Boosted by this, uranium stocks soared on Thursday.

According to the data, NexGen Energy (NXE.US) closed up 11.66% on Thursday, Uranium Energy (UEC.US) rose 11.58%, Fission Uranium (FCUUF.US) rose 9.76%, Cameco (CCJ.US) rose 8.84%, Ur Energy (URG.US) rose 7.95%, Energy Efficiency (UUUU.US) rose 7.48%, and Denison Mining (DNN.US) rose 7.41%. NuScale Power (SMR.US) rose 1.20%.

In terms of ETFs, the Global X Uranium ETF (URA.US) closed up 6.08%, and the nuclear energy index ETF-Market Vectors (NLR.US) rose 4.23%.

If the bill becomes law, it will guide the US Nuclear Regulatory Commission (NRC) to review its nuclear power plant licensing process and study whether guidelines can be modified to quickly approve advanced nuclear reactors. The Act places special emphasis on speeding up approval of next-generation reactors to be built on former industrial or commercial facilities.

Additionally, the bill will guide the NRC to coordinate efforts between the US and other countries seeking to develop nuclear energy, and help train foreign nuclear safety regulators.

Senator Shelley Moore Capito, a senior EPW member who proposed the bill, said the bill would initiate the deployment of new, safe and reliable nuclear technology. The United States can and should play a leading role in nuclear energy.