Alligator Energy (AGE) JMM & Tribeca Nuclear Energy Forum 2026 summary

Global nuclear energy outlook and investment trends

• Energy security is now a top priority for governments, corporates, and consumers, driving renewed focus on nuclear power as a reliable, long-term solution.

• Nuclear capacity is set to triple globally, with 38 countries and major banks pledging support, and over 70 reactors under construction to 2030.

• AI and data center growth are accelerating electricity demand, prompting tech giants to secure nuclear power for long-term reliability.

• Supply chain bottlenecks in uranium, conversion, and enrichment are being addressed, but uranium supply remains the critical constraint.

• China and India are aggressively contracting uranium supply, while Western utilities risk being caught off guard by slow contracting and underinvestment.

Market dynamics and fund strategy

• Uranium prices have reached decade highs, but current levels are not incentivizing new supply, with forward curves projecting higher prices by 2030.

• Cost inflation and geopolitical risks, especially from the Middle East, are impacting mining economics and supply timelines.

• The Tribeca Nuclear Energy Opportunities Strategy fund has delivered strong returns, actively managing across the nuclear value chain and leveraging volatility for value.

• The fund is increasing exposure to nuclear innovation, including small modular reactors and advanced technologies, now comprising over a third of the portfolio.

• Active management, jurisdictional flexibility, and deep sector relationships are key differentiators from passive ETF strategies.

Company presentations: Peninsula Energy

• Peninsula Energy operates the largest uranium resource in Wyoming, with a fully licensed facility and significant exploration upside.

• Production ramp-up targets 400,000–600,000 lbs annually by 2027, with potential to expand capacity to 3 million lbs per year.

• The company is resetting operations, focusing on reliable delivery and leveraging uncontracted production to benefit from rising spot prices.

• U.S. domestic supply is critical, with only five producers meeting a fraction of national demand, and government interest in supporting local production.

• Exploration at the Dagger project and ongoing improvements in wellfield design are expected to drive future growth.