Congratulations to Elementl Power on signing such a monumental agreement with Google. Together, they will produce three new locations for advanced nuclear reactors, moving ahead with sustainable energy solutions. This joint venture aims to generate a minimum of 600 megawatts of energy capacity from each location. That’s the equivalent of 50 new nuclear plants all operating in unison!
Chris Colbert, Elementl Power’s chairman and CEO, expressed the importance of such collaborations in mobilizing capital for new nuclear projects. Colbert’s credentials are extremely strong. He has served as CFO, COO and chief strategy officer for NuScale Power, the world’s recognized leader in developing small modular reactors. Under his leadership, Elementl Power aims to add a total of 10 gigawatts of nuclear power to the grid by 2035.
The deal provides Google the flexibility to buy the produced power when the facilities come online. The long-term partnership is the latest move in Google’s ongoing game of chess to lock in low, dependable clean energy for its data centers. Additional October actions In November 2020, Google joined with Kairos Power, a small modular reactor company. This joint effort serves to underscore Google’s firm commitment to innovative, clean energy solutions.
A key aspect of the new partnership, according to Amanda Peterson Corio, Google’s global head of data center energy, is its collaborative nature.
“Google is committed to catalyzing projects that strengthen the power grids where we operate, and advanced nuclear technology provides reliable, baseload, 24/7 energy.” – Amanda Peterson Corio, global head of data center energy at Google.
Elementl Power expects to raise the money to fund construction of its first advanced reactors. They’ll eventually raise capital from many sources, including infrastructure funds, once the projects get to their final investment stage. This fiscal approach is very important. Power demand is through the roof, in part because of the increasing energy needs for artificial intelligence development. Anthropic co-founder Jack Clark has been known to make some outrageous predictions. He projected that we’ll need 50 gigawatts more new power capacity by 2027 just to fuel AI technologies.
The rapid ascent of AI has raised concerns over its impact on the future energy landscape. Startups like China’s DeepSeek are betting on the idea that improving the efficiency of AI models will lower the data centers’ power appetite. Elementl Power is really engaged with Google’s right now. Their efforts exemplify the relevance and future of nuclear power in the United States.