Bill Gates is betting on the future of nuclear energy as his next generation nuclear power plant, TerraPower, started construction last week.

While his company is privately held, exchange-traded fund investors can gain exposure to nuclear energy’s growth potential with uranium ETFs.

Nuclear power plants use controlled nuclear fission of enriched uranium to generate heat that boils water to create steam and spin turbines for electricity.

Gates’ next generation nuclear power plant uses liquid sodium, which has a boiling point eight times higher than water’s. So, according to Gates, “it can absorb all the extra heat generated in the nuclear core,” limiting temperatures that might cause a meltdown.

After last week’s groundbreaking event in Kemmerer, Wyo., Gates remarked in his blog that he expects the site “will soon be the bedrock of America’s energy future” and that the move represents “the biggest step yet toward safe, abundant, zero-carbon energy.”

Why Is Nuclear Energy Trending?

Nuclear energy is trending amid escalating climate change concerns and geopolitical tensions, highlighting the need to shift toward clean energy resources and energy independence.

Nuclear Energy and Uranium ETFs

There are several nuclear energy ETFs available to investors. These funds invest in companies involved in the entire nuclear energy industry, from uranium mining to nuclear power plant construction and operation. Here are a few examples:

VanEck Uranium & Nuclear ETF

The VanEck Uranium & Nuclear ETF (NLR) tracks the MVIS Global Uranium & Nuclear Energy Index, which includes companies involved in uranium mining, nuclear facility construction and maintenance, and nuclear electricity generation.

Global X Uranium ETF

The Global X Uranium ETF (URA) primarily focuses on uranium mining companies but also includes some companies involved in other parts of the nuclear energy sector.

Sprott Uranium Miners ETF

The Sprott Uranium Miners ETF (URNM) focuses on companies that mine uranium, with some investment in uranium exploration and development companies.

Bottom Line on Investing in Uranium ETFs

Investors can potentially benefit from uranium ETFs through an increase in the underlying share prices of companies involved in the nuclear energy industry, driven by factors like rising uranium prices or growing demand for nuclear power.