There is a relatively new type of nuclear power that is starting to gain popularity, albeit at a very slow pace. Thorium nuclear power may be the next major source of green power.
Many green investors and socially responsible investors have several issues with uranium generated nuclear power, including the potential for meltdowns and the hazardous waste that is generated along with the disposal. But with thorium, it only creates a small amount of the hazardous waste generated by uranium reactors. Thorium won't produce runaway chain reactions, unlike uranium. Thorium is even more plentiful than uranium.
Spent fuel produces a much lower amount of waste, which is less radioactive than uranium. All in all, thorium power is safer and cheaper than uranium.
For investors, there is Fortum Corp. (FOJCF.PK), a Finnish based utility, which is in partnership with Statkraft in Norway, Scatec which is also in Norway, and Vattenfall in Sweden, to create a thorium nuclear plant.
There is also the very low cap Thorium Power, Ltd. (THPW.OB), which produces and sells nuclear fuel designs, including thorium/uranium nuclear fuel for power plants. The company has generated negative earnings for the latest reported quarter, and operating income is negative. However, they are debt free with $4.9 million in cash. Because the stock has a very low capitalization, it should be considered very speculative.
Punj Lloyd Limited (PUNJLLOYD.NS), which trades on the National Stock Exchange of India, is in a 50/50 joint venture with Thorium Power to use thorium in a nuclear power plant.
Since thorium isn't usable to make a bomb, is more abundant and produces far more energy than uranium, and produces far less waste, the story isn't just a green story but a financial story, and worth looking at for the long term.
Author does not own any of the above.