CASPER (WNE) — President Biden on Wednesday signed a seminal bill that sets the stage for a new era of American nuclear energy, and Wyoming is poised to benefit if a nuclear renaissance takes hold.

The bipartisan Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act aims to speed the development of novel nuclear technology while grounding a full-cycle nuclear fuel supply chain in America.

The bill is years in the making and was shepherded with the help of Wyoming’s nuclear proponents, including Sen. Barrasso.

It greases the wheels through investments in research, the creation of marketplace incentives, and a major overhaul of the Nuclear Regulatory Commission.

Under the bill, the NRC is required to streamline licensing for microreactors and nuclear facilities at brownfield and retired fossil-fuel energy generation sites, a move anticipated in Wyoming with last months groundbreaking of TerraPower’s Natrium plant in Kemmerer at the site of the Naughton coal power plant that’s scheduled for retirement in the coming years.

In addition to process overhaul designed to accelerate licensing, the NRC is charged with creating a “prize” for private enterprises to incentivize next-generation reactor technologies. It will also focus on fuel by building out its administrative and testing capacity to speed the production of “accident-tolerant fuels” for increased safety and economic competitiveness.

The bill aims to place the U.S. at the center of what’s expected to be a large export market for nuclear technology. It directs the Department of Energy to ready an approval process for exporting American nuclear technology to international markets while maintaining strong standards for nuclear non-proliferation.

Wyoming is poised to be a major player in the up-and-coming nuclear energy market, given its vast uranium reserves, robust energy infrastructure and pro-nuclear leadership in both the statehouse and Congress.