Westinghouse

Westinghouse Electric Company

🇺🇸Cranberry Township, PA, United StatesNuclear power systems

Verified 2026-05-28· Westinghouse Electric Company LLC (subsidiary of Brookfield Asset Management + Cameco Corp)

Founded

1886

Overview

Major commercial nuclear reactor provider (AP1000 large reactors + eVinci microreactors). Won one of three NASA/DOE Fission Surface Power Phase 1 contracts in June 2022 to develop a 40 kW lunar surface reactor. Acquired from Toshiba in 2018 by Brookfield Asset Management; partial ownership transferred to Cameco Corp in 2023.

Moat: Patent portfolio + manufacturing capability across the commercial nuclear stack. eVinci microreactor design is one of the few US-developed micro-reactor concepts with both terrestrial deployment plans (Idaho National Lab demonstration 2026) and space-adapted variants.

Business

Primary customers

Government: NASA / DOE (Fission Surface Power)
Commercial: Commercial nuclear power utilities globally
Defense: US Navy (naval nuclear heritage)

Sectors

Commercial nuclear reactors · Space microreactors · Naval nuclear · Decommissioning

Gallery

Studio render of the Westinghouse eVinci microreactor — a transportable heat-pipe reactor whose scaled-down variant underpins the company's space-power concepts. — Image: The eVinci microreactor (render) — Westinghouse

NASA concept illustration of a Fission Surface Power system on the Moon — the 40-kilowatt-class programme for which Westinghouse's eVinci is a selected design concept. — Image: NASA Fission Surface Power — the programme behind the eVinci-space work — NASA

NASA overview graphic of the Fission Surface Power Project concept for lunar (and later Mars) surface power. — Image: NASA's Fission Surface Power framework — NASA

Key Products

Fission Surface Power Phase 1 designdevelopment
40 kW class lunar surface reactor concept under the $5M NASA/DOE Phase 1 contract. Targets early-2030s lunar surface deployment.
eVinci microreactordevelopment
Terrestrial microreactor (5 MW thermal class). Provides the technology heritage for the space-adapted lunar variant.
AP1000 large pressurized water reactoroperational
Commercial nuclear reactor sold globally — flagship terrestrial product.

Investor Resources

Primary-source documents — straight from Westinghouse Electric Company's investor relations and SEC filings.

Investor Presentations

Near-term Catalysts

2025-2026
NASA Fission Surface Power Phase 2 solicitation
Down-select from 3 Phase 1 teams to a Phase 2 prime — winner gets the actual surface reactor demonstration.
2026
eVinci first criticality at Idaho National Lab
Validates the underlying microreactor technology before space adaptation.

Top Risks

FSP Phase 2 down-select could favor IX (Intuitive Machines + X-Energy) or Lockheed Martin teams.
Reactor delivery for surface use is fundamentally constrained by Artemis crew cadence (early 2030s at earliest).
Westinghouse is privately held; investor access is indirect through Cameco (NYSE: CCJ) or Brookfield Asset Management (NYSE: BAM).

Recent Milestones

2022-06-21
Awarded $5M NASA/DOE Fission Surface Power Phase 1 contract
2024
NASA extends Phase 1 contracts to gather more information before Phase 2 solicitation

From Management

Recent interviews and talks from Westinghouse Electric Company's leadership — hear the strategy in their own words.

Dan Sumner · President & CEOWestinghouse appoints Dan Sumner as CEOWestinghouse · Apr 27, 2026 Richard Rademacher · President, Westinghouse Government ServicesOn the NASA–DOE space-microreactor awardWestinghouse · Jan 7, 2025

What investors should know

Q1How can investors get exposure to Westinghouse?⌄

Indirectly only. Westinghouse is privately held by Brookfield Asset Management (NYSE: BAM) — which holds a majority stake — and Cameco Corporation (NYSE: CCJ), which acquired a partial interest in 2023. There is no direct Westinghouse equity to trade.

Q2What's the Fission Surface Power timeline?⌄

Phase 1 (concept design, $5M each to 3 teams) ran 2022-2024. Phase 2 (actual reactor build) solicitation expected 2025-2026, with surface deployment targeted for the early 2030s. A flight reactor would not arrive on the Moon before Artemis V (2030) at the earliest.

Q3How does Westinghouse compare with IX and Lockheed Martin on the FSP bid?⌄

Three Phase 1 teams: Lockheed Martin (with BWX Technologies + Creare), Westinghouse (leveraging eVinci microreactor heritage), and IX (Intuitive Machines + X-Energy joint venture, with Boeing + Maxar). Westinghouse has the deepest commercial reactor manufacturing experience; IX has the X-Energy TRISO fuel heritage; Lockheed has space-systems integration.

Q4Why does the Moon need nuclear power?⌄

The lunar south pole sees up to 94% annual sunlight at the best 'peaks of eternal light' on Shackleton crater rim, but the remaining 6% shadow time still requires reliable power. Permanently shadowed regions (where water ice is concentrated) require continuous power from a source that does not depend on solar geometry. A 40 kW fission reactor provides 10+ years of continuous power for sustained surface operations.

Q5Is this related to Westinghouse's brand-name appliances?⌄

No. Westinghouse Electric Company (nuclear, this profile) is distinct from Westinghouse Brand Licensing (consumer products like TVs and appliances, owned by a different entity). The shared brand reflects the original Westinghouse conglomerate's split.

Peers

🇺🇸Lockheed Martin

$118.7B

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