Last Week in ConTech - 16 June 2025
Why the World Is Betting on Nuclear Again
Deep Insight: Why the World Is Betting on Nuclear Again
This week the World Bank lifted its ban on funding nuclear energy projects.
It’s significant as they are the world’s largest and most influential development bank, providing loans and financial or technical assistance to developing countries for infrastructure and development initiatives.
Due to opposition from Berlin and concerns about nuclear proliferation, the World Bank has not backed a nuclear project since 1959.
That’s now changing. Germany, under a new government led by Chancellor Friedrich Merz, dropped its opposition to nuclear power signaling a major European policy shift with France continuing to push for nuclear power to be treated on par with renewable energy in EU legislation.
The global tone is also shifting:
The Trump Administration is aiming to quadruple nuclear energy by 2050.
India plans to expand its nuclear capacity tenfold to 100GW by 2047.
China aims to build 150 nuclear reactors between 2020 and 2035.
And 23 more countries (such as Canada, Ghana, South Korea) pledged to triple nuclear capacity from 2020 levels by 2050.
Nuclear is experiencing a renaissance increasingly seen as a source of reliable, emissions-free baseload power that can complement intermittent solar and wind sources to meet peak demand.
Many developing countries are open to nuclear power but face financing barriers. The World Bank can help overcome these by backstopping projects with guarantees and equity.
The Bank has also signaled support for the development of small modular reactors (SMRs), a new class of compact, factory-built reactors designed to reduce both construction costs and timelines.
There’s a host of startups in this sector, seeking to commercialize SMRs and this policy shift expands their market size (number of customers).
Given the stringent U.S. export controls on nuclear technology, the first SMR startup able to successfully navigate licensing, international approvals, and deployment partnerships could unlock a significant first-mover advantage in global markets.
In this issue there are:
7 Startup Fundings
14 Policy and Regulatory Changes
7 New National Infrastructure Projects & Priorities
0 New investment funds
0 Acquisitions
5 News articles
14 new jobs posted - view here
Reading time: 12 mins
LinkedIn 101 for Construction Tech – Free Webinar
A couple of months ago, I hosted a LinkedIn 101 session for the Formwork Labs cohort to help ConTech founders build their personal brands.
Now, in collaboration with AEC Tech Jobs, Allister Lewis, Stefanie Reichman, and I are hosting a free webinar open to the wider construction community.
If you want to improve your LinkedIn presence, grow your network, or better position your company this webinar is for you.
Date: Tuesday, 1st July
Time: 12:30pm – 1:30pm
To attend, just fill in the form: Linkedin 101 for Construction Tech
Startup Funding
Bid Management
Altura, a Dutch startup, raised €8m in Series A funding. They are developing a bid management platform which centralizes the proposal process for construction and infrastructure companies by automating time consuming tasks like identifying tenders, surfacing insights to guide bid/no-bid decisions and coordinating input between seperate teams like legal, compliance and technical throughout the bid management lifecycle. More here.
Permits
Shovels, a Californian startup, raised $5m in Seed funding. They use AI technology to extract and collate building permit data from local jurisdictions across the US and provide this to customers via web app, cloud feed or API service. More here.
Notes:
Building permit data is notoriously hard to track as it is scattered across over 20,000 local jurisdictions in the US.
This information is valuable for contractors as it can provide lists of qualified customers.
For example, a solar panel installer could track roof permits as if you are placing a new roof, that’s a great time to install the solar panels.
Additionally, shovels maintain profiles on 3 million contractors via their permit applications.
Autonomous Equipment
AIM Intelligent Machines, a Washington State startup, raised $50m in funding from investors including Ironspring Ventures. They retrofit heavy construction equipment to operate autonomously by attaching sensors which build a real time 3D map of the equipment's surroundings and deploying an edge compute system which takes over the controls. More here.
Procurement
Remarcable, an Ohio startup, raised $15m in funding. They are building construction material management software which unifies material purchasing, inventory management, tool management, and field operations. It does so by integrating with material suppliers to provide pricing visibility and product availability streamlining purchasing and payment workflows. More here.
Notes:
Remarcable has gone to market by focusing initially on the electrical contractor segment.
It still surprises me when I talk to site engineers that they often have to call suppliers for product availability and pricing.
Instead of comparing quotes, often they purchase from the supplier which is easiest to reach or recommended by a teammate due to time constraints.
Direct product comparison can also be tricky, as designers sometimes specify brand names.
For example, a pavement expansion joint might be labelled as ‘Ableflex or approved equivalent’.
Ableflex is a brand name and refers to expansion joint filler foam.
A less experienced engineer will often just buy Ableflex, because it’s easier and they’re under time pressure, even if cheaper alternatives exist.
For material suppliers, the ability to surface their products to the right engineer at the right time in a project is incredibly valuable.
In the future, I wouldn’t be surprised if B2B marketplaces enable real-time bidding allowing suppliers to push their products to the top for relevant keywords.
Koncrete, a French startup, raised €1m in Seed funding. They are developing a procurement platform for construction which provides real time quotes, compares supplier pricing and allows engineers to coordinate logistics via a unified interface. More here.
Inspections
Gecko Robotics, a Pennsylvania startup, raised $125m in Series D funding. They build robots which can climb, crawl, swim and fly to assess the safety and condition of physical infrastructure. More here.
Other
Bolo AI, a Californian startup, raised $8.1m in Seed funding. They are building AI Agents for the energy industry allowing teams to surface historical information like decades of well-logs, monitor real time operations, find relevant manuals and logs for field crews, consolidate design specs and plan maintenance based on spare parts inventories. More here.
Notes:
This solution is interesting as it appears to use existing foundational models, contextualized to energy or company-specific use cases.
For example, users can ask questions about specific products and receive an answer with a direct link to the relevant user manual.
It’s very similar to how Google’s NotebookLM works.
What’s valuable about these solutions is:
They contextualize the foundational model to the industry use case.
They own the user interface, creating a consistent experience.
People become trained on how the interface works and the system can select the most relevant model for each query (e.g. Claude for one, ChatGPT for another).
This means the user always gets the best possible output.
For people exploring this approach, Agentsy is one platform that lets you access multiple models through a single chat interface for the price of one (great for personal use).
Note: As a modification on AUAR's funding announcement last week, they raised £5.1m in funding (not £2.6m in a Seed round).
Policy and Regulatory Changes
US
Trump’s Proposed Cut Would Deal Serious Setback to California High-Speed Rail
The Trump administration plans to terminate $4 billion in grants to California’s bullet train project.
The project is to link Los Angeles and San Francisco with a high-speed train that could make the trip in two hours and 40 minutes.
This could delay the start of even limited passenger operations on the nation’s largest infrastructure project by a decade.
Interior Slashes Outdated Energy Regulations to Boost Economic Growth on Public Lands
The Department of Interior formally rescinded 18 Bureau of Land Management regulations related to geothermal energy and exploring for and digging up minerals on public lands including wilderness areas.
A number of the rules are aimed at removing red tape holding back geothermal production.
It follows Secretary’s Order 3421, “Achieving Prosperity Through Deregulation.”
This directed Interior agencies to systematically identify and eliminate rules that are outdated, duplicative, or excessively burdensome.
The Department aims to accelerate geothermal projects that address urgent national security and energy needs while maintaining environmental stewardship.
At least three geothermal projects will be impacted by this change.
The Bureau of Land Management will complete its environmental assessments within a 14-day timeframe.
Chris Wright shares views on reconciliation, renewables
Energy Secretary Chris Wright said that Republicans must work to keep Inflation Reduction Act tax credits for certain emerging, Republican-favored energy sources.
He stated that he advocated nuclear, geothermal and fusion as three emerging sources to get tax credit treatment.
The House recently passed a tax, energy and border spending megabill that would roll back incentives for renewable energy and hydrogen.
$5.4B in federal funds available for bridge construction, repair, maintenance
Nearly $4.9 billion in funding will be available from the Bridge Investment Program for projects with total eligible costs greater than $100 million.
A further $500 million will be available to eligible states under the Competitive Highway Bridge Program.
The Department of Transportation stripped out climate change, environmental justice and equity requirements from the grant documents.
USDOT Approves 529 Infrastructure Grants Totaling $2.9B Across Multiple Sectors
The announcement brings the total number of projects approved under the current administration to 1,065, representing approximately $10 billion in federal investment.
These approvals mark a significant step toward reducing an inherited backlog of over 3,200 infrastructure grants that had not yet been obligated.
Lawmakers move to protect low-income HVAC program
The ‘Low-Income Home Energy Assistance Program’ (LIHEAP) is a $4 billion program that helps ~6 million U.S. households a year pay for heating and cooling bills and weatherization projects.
Introduced by bipartisan congressmen the proposed legislation establishes a minimum staffing threshold, requiring that at least 20 people work on LIHEAP.
It comes as the Trump administration in April laid off the program’s entire staff, leaving $400 million undisbursed from its current budget.
Trump Signs Orders Intended to Jolt U.S. Drone Manufacturing
President Trump on Friday signed executive orders aimed at bolstering the U.S. drone industry.
The orders sought to expand opportunities for commercial and recreational drone use.
The order also directed the commerce secretary to promote exports of U.S.-made drones.
It also instructed federal agencies to prioritize purchases of them.
Notes:
The rising tension with China over supply chain independence can impact the construction drone industry.
For large government infrastructure projects, there may be a preference for reality capture providers with locally sourced components.
Maryland issues construction permit for US Wind
The Maryland Department of the Environment issued its final permit for US Wind to build more than 100 offshore wind turbines.
Notes:
Trump recently stated that his administration would not approve wind energy except in cases of emergency.
It remains to be seen if this project will be affected.
China
China taps pool of funds worth 10.9 trillion yuan (US$1.5t) to prop up housing market
The housing provident fund, a government savings programme used to help people buy homes, is giving out loans.
It hit 8.1 trillion yuan in outstanding mortgages last year, outpaced banks in giving out loans.
This is important as China’s housing market looks to recover.
China’s top 100 developers are expected to see contracted sales decline at least 10 per cent this year.
Notes:
Slowing construction in China has an impact on global construction as these firms look to expand overseas.
An example is how Chinese construction machinery manufacturers are increasingly selling to foreign markets.
China arms itself for more export control battles
China dominates the supply chain for key minerals and its commerce ministry started requiring licenses for exports of rare earths and related magnets in early April.
It's given Beijing leverage over the US after Donald Trump’s sweeping “liberation day” tariffs.
Notes:
As written in the article, the threat of being cut off from Chinese-made rare earths and magnets is strengthening resolve to reduce dependence on China’s industrial supply chain.
This may result in the investment in and expedition in approvals for new mines (which require related infrastructure construction) and factory construction.
UK
Reforms to bolster flood protection for communities across the country
A simpler, transparent process will be implemented for applying for funding.
It will make it easier for authorities, including councils, to bid for central government funding.
This is to accelerate the construction of flood schemes and protect areas from the risks of flooding.
Poland
Government adopts draft amendment on Construction Law; notifications instead of permits
A new proposal aims to simplify and accelerate building procedures by reducing red tape.
Under this, certain structures like freestanding home shelters (up to 35 m²), covered terraces (up to 50 m²), sports fields, and small public-use buildings can be built without a building permit, requiring only a simple notification.
Chile
Chile issues new guidelines for implementing the law on streamlining construction permits
Chile’s Ministry of Housing and Urban Development issued a Circular Ord. No. 212, DDU 525 aimed at streamlining construction permits.
Some key provisions include:
Municipalities are now required to publish on their websites a resolution which must include a full list of permits and authorizations granted in the previous month.
A special 60-day deadline for the DOM to respond to construction permit requests for projects with an occupancy load of 1,000 people or more.
The law introduces a new administrative appeal process before SEREMI MINVU (a government office) for urban planning illegality claims.
National Infrastructure Projects & Priorities
Global
World surpasses 40% clean power as renewables see record rise
Solar is the main driver of renewables growth, with generation doubling in three years.
Share of global electricity generation (%):
Solar - 7%
Wind - 8%
Hydro - 14%
Nuclear - 9%
Other renewables - 3%
US
Westinghouse targets $75bn US nuclear expansion after Donald Trump order
Westinghouse is in talks with US officials and industry partners about deploying 10 large nuclear reactors to meet Trump’s Executive orders.
The orders, published on May 23, set targets for quadrupling nuclear energy capacity in the US by 2050, starting work on 10 large reactors by 2030 and accelerating regulatory approvals.
Based on estimates from the Department of Energy, building 10 large nuclear reactors in the US could cost $75bn.
Amazon to spend $20B on data centers in Pennsylvania, including one next to a nuclear power plant
Amazon said Monday that it will spend $20 billion on two data center complexes in Pennsylvania.
Since 2010, Amazon has invested more than $26 billion in the state.
Related:
UK
British Government to Spend $19 Billion on New Nuclear Plant
The British government said it would spend as much as 14.2 billion pounds, or about $19 billion, on constructing a nuclear power station.
The project is to help power six million homes.
The decision likely means that the giant plant called Sizewell C, whose site on the east coast of England was first identified by the government in 2009, will receive a go-ahead.
The British government also said it had chosen Rolls-Royce SMR to build so-called small modular nuclear reactors.
The government said it was planning to spend 2.5 billion pounds on these smaller power plants.
Africa
Climate adaptation to cost Africa over $100bn yearly – SEC
The Director-General of the Securities and Exchange Commission, Emomotimi Agama, says Africa requires over $100bn annually to address the financing gap for climate adaptation.
Notes:
This includes adapting infrastructure for climate related risks.
Indonesia
Indonesia Plans to Start Building $80-Billion Giant Sea Wall
The sea wall is estimated to cost $80 billion and take about 20 years to build.
It will span at least 500 kilometers from the island’s westernmost city of Banten to the Gresik regency in East Java.
The sea wall is intended to protect cities from floods and land subsidence.
India
Coal India to restart 32 mines to meet power needs as clean energy stalls
State-run Coal India Ltd is reopening 32 defunct mines and preparing to launch up to five new greenfield projects this year.
It comes as India’s energy needs outpace the current capabilities of its renewable infrastructure.
News
Looking upstream: A path to unlocking low-carbon, circular materials (McKinsey)
Texas ICE raids: 25 arrested at construction sites in Brownsville, South Padre Island
World’s largest 3D printed construction project commences in Qatar
Gas Stations Are Adding E.V. Chargers and Reasons to Wait Around
Gas station operators are turning their stores into shopping centers where people can spend time and money while they wait for cars to charge.
If I missed anything this week, please reply and let me know! I’ll make sure to include it next week.