Sustainability

TD Cowen 10th Annual Nuclear Conference Highlights

Nov. 04, 2025

The overall sentiment at our 10th Annual Nuclear Fuel Cycle conference was bullish. Interest in the nuclear space continues to broaden as more generalists focus on the growth outlook from Artificial Intelligence (AI) and Small Modular Reactors (SMRs).

We have three key takeaways:

Investor perception of nuclear is improving as more generalists focus on the sector
Multiple catalysts are expected to drive industry growth
Higher uranium prices are anticipated as demand remains understated and supply overstated

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Marc Bianchi

Managing Director, Sustainability & Energy Transition – Industrial Gas & Equipment and Energy – Oilfield Services & Equipment Research Analyst, TD Cowen

Marc Bianchi
Managing Director, Sustainability & Energy Transition – Industrial Gas & Equipment and Energy – Oilfield Services & Equipment Research Analyst, TD Cowen

Biography

Marc Bianchi currently serves as a senior energy analyst following energy transition, industrial gas and hydrogen, electric grid services, oilfield services and nuclear power. Prior to joining TD Cowen in 2013, he was an analyst and portfolio manager at Turner Investments in Berwyn, Pennsylvania, following oilfield services globally. He was also a key contributor to the Turner Global Resources strategy. Previously, Mr. Bianchi was a generalist following companies in the energy and materials sector. He received a BA in economics with a minor in mathematics from Rollins College and an MBA from the Crummer Graduate School of Business. Mr. Bianchi is a CFA charterholder.

Michael Tupholme

Director, Equity Research, TD Cowen

Michael Tupholme
Director, Equity Research, TD Cowen

Biography

Industrial Products, Infrastructure Services, Chemicals & Fertilizers.
Michael Tupholme is a senior analyst covering diversified industrials and chemicals & fertilizers. Prior to joining TD Securities in 2005, Michael spent over four years at an independent Canadian investment dealer as a member of the firm’s investment banking group. Michael holds a Bachelor of Commerce degree from Queen’s University and is a CFA charterholder.

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TD Cowen 10th Annual Nuclear Conference Highlights

Disclaimer

Biography

Biography

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