US-UK Nuclear Deal and Hydrogen Stock Boom Lift Alternative Energy ETFs 

Nuclear and hydrogen are increasingly at the core of the global energy transition. Governments view nuclear power as a reliable, low-carbon solution for both baseload electricity and energy-hungry data centers.  

The World Nuclear Association projects uranium demand for power generation to rise by 28% by 2030, a reflection of energy security concerns and the AI-driven boom in electricity consumption.  

Hydrogen, meanwhile, is carving out its role as a versatile clean fuel, with global market value expected to grow from $153 billion in 2023 to $250 billion by 2035. Its potential in hard-to-abate sectors such as heavy industry and long-haul transport makes it a critical piece of decarbonization roadmaps. 

Why Are Nuclear Energy Stocks Up this Week? 

In the nuclear space, uranium futures have climbed above $76 per pound as supply tightened.  

Canada’s Cameco cut production guidance due to mine delays, while Kazakhstan’s Kazatomprom, the world’s top producer, announced a 10% output cut for next year.  

These constraints come just as the US and UK signed the Atlantic Partnership for Advanced Nuclear Energy, a multibillion-pound programme to roll out small modular reactors and extend the life of existing plants.  

Why Are Hydrogen Stocks Up this Week? 

On the hydrogen side, recent rallies have been fueled by corporate momentum: Plug Power surged more than 40% in a week after securing a major supply deal, while Bloom Energy gained on strong demand for fuel-cell technology.  

Despite cost and infrastructure challenges, the International Energy Agency still expects low-emissions hydrogen capacity to multiply fivefold by 2030. 

How did Nuclear and Hydrogen ETFs perform last week? 

European-listed nuclear ETFs have mirrored the strength in uranium markets, supported by tightening supply and rising demand forecasts. 

• VanEck Uranium and Nuclear Technologies UCITS ETF (NUKL): +14.1% last week, now +62% year-to-date. 
• Global X Uranium UCITS ETF (URNG): +18.4% weekly surge, one of the top movers in the segment. 
• WisdomTree Uranium and Nuclear Energy UCITS ETF (NCLR): nearly +88% year-to-date, among the strongest clean energy performers overall. 

Hydrogen ETFs also rallied, showing how sector-specific funds can capture momentum despite IEA warnings of project delays. 

• Global X Hydrogen UCITS ETF (HYCN): +16.9% weekly jump. 
• L&G Hydrogen Economy UCITS ETF (HTWO): +7.7% last week. 
• VanEck Hydrogen Economy UCITS ETF (HDR0): +13.2% gain over the week. 

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Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.