SmartKem shares surge 18.97% premarket as state backs Carbonium Core's nuclear graphite unit in Tennessee.

SmartKem surged 18.97% in premarket trading following the announcement that its partner, Carbonium Core, received state-level support for a proposed nuclear graphite manufacturing unit in Tennessee. The initiative, which combines SmartKem’s advanced materials expertise with Carbonium Core’s vertically integrated platform, aims to establish a domestic supply chain for reactor-grade graphite used in next-generation nuclear reactors. Tennessee Senator Jessie Seal highlighted the project’s potential to drive job creation and economic growth in the Cumberland Gap region. The development aligns with U.S. energy security goals by reducing reliance on overseas sources and leveraging Tennessee’s industrial infrastructure. While the transaction remains subject to due diligence and approvals, the state endorsement and strategic partnership signaled progress toward securing a critical material for the nuclear energy sector, boosting investor optimism.