Nuclear

Nuclear Power Startup Plans 6-GW Fleet of U.S. Plants

A Kentucky-based group has announced plans to build a 6-GW fleet of nuclear power stations in the U.S., looking to take advantage of bipartisan support for nuclear technology and the need to build more baseload, zero-carbon sources of energy.

The Nuclear Company, headquartered in Lexington, said its business model would lean on “proven, licensed technology and a design-once, build-many approach.” The company in a July 18 news release said it would develop “standardized processes and scheduling in order to sequence work and minimize delays, including moving construction expertise from one site to the next immediately to improve efficiency.”

“The Nuclear Company is working towards solving America’s surging energy demand by redefining how large-scale, nuclear infrastructure projects are delivered,” said Juliann Edwards, chief development officer for The Nuclear Company and chair of U.S. Women in Nuclear. “We recognize the challenges facing our industry, where one-off nuclear projects historically go over budget and run behind schedule.”

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Said Edwards, “Our unique approach integrates proven technology with unparalleled collaboration among diverse organizations, ensuring that fleet-scale projects are executed on-time and on-budget. The time is now given a sea change in public opinion that’s overwhelmingly supportive of nuclear power, recent bipartisan legislative action, and our business model that drives down upfront costs. Together, we’ll reap the long-term benefits of plentiful, cheap nuclear power during this once-in-a-century opportunity for nuclear power in America.”

Increased Demand for Electricity

The group noted that the International Energy Agency projects global electricity demand will increase nearly 30% by the end of the decade, driven by increased electrification and the rise of artificial intelligence. Those factors, along with more U.S. manufacturing as companies build new factories, in part due to incentives from the Inflation Reduction Act, have utilities and other power generators looking for ways to increase electricity output.

The Vogtle Electric Generating Plant is one of Georgia Power's two nuclear facilities and is one of three nuclear facilities in the Southern Company system. Plant Vogtle is co-owned between Georgia Power, Oglethorpe Power Corporation, Municipal Electric Authority of Georgia and Dalton Utilities. Unit 1 began commercial operation in 1987 and Unit 2 in 1989. The company recently achieved commercial operation on Vogtle Units 3&4, historically making Plant Vogtle the largest generator of clean energy in the U.S. Unit 3 entered commercial operation on July 31, 2023, and Unit 4 entered commercial operation on April 29, 2024. Courtesy: Southern Nuclear — The Vogtle nuclear plant in Georgia now has four units, after a two-unit expansion was completed earlier this year. Units 3 and 4 at Vogtle, which entered commercial operation in July 2023 and April of this year, respectively, were the first new utility-scale nuclear reactors to be built in the U.S. in decades. The two-unit expansion received POWER’s Plant of the Year award. Courtesy: Southern Nuclear

The Nuclear Company is embarking on what it calls The Nuclear Frontier bus tour, with stops planned in six states as well as Washington D.C. The first stop was this week at the U.S. Women in Nuclear Conference in Pittsburgh, Pennsylvania. The company said it wants to engage with government and industry leaders, along with establishing a nuclear power workforce. The company said it has the support of a consortium of utilities and independent power producers, hyperscalers, nuclear technology suppliers, and private equity, which will “help mitigate risk and make nuclear power an attractive investment.”

“The success or failure of the U.S. economy will be determined by our ability to power its innovations. Nuclear power is the cornerstone of that endeavor,” said Patrick Maloney, The Nuclear Company co-founder and chair who works with investment firm CIV. “The Nuclear Company’s business model is designed to solve the problems that have constrained the country’s nuclear potential. The Nuclear Company aims to reposition the U.S. as a paradigm of clean energy advances that will set the standard for the industry.”

Along with CIV, which supports and develops energy and industrial companies, other investors include True Ventures, Wonder Ventures, Goldcrest Capital, and MCJ Collective. Jonathan Webb, who founded indoor-farming group AppHarvest in 2018 (the company later went bankrupt), is a co-founder and CEO of The Nuclear Company.

—Darrell Proctor is senior associate editor for POWER (@POWERmagazine).