Google signs three-site nuclear deal with Elementl Power

Nuclear project developer and independent power producer Elementl Power has signed a strategic agreement with Google to pre-position three project sites for advanced nuclear energy.

As part of the agreement, Google will commit early-stage development capital to advance the development of three projects.

Each project would generate at least 600MW of power capacity, with the option for commercial off-take once complete. Together with Google, Elementl Power will work collaboratively with utility and regulated power partners to identify and advance new projects.

Elementl Power will continue the evaluation of potential technology, engineering, procurement and construction, and other project partners, while prioritising specific sites for accelerated development.

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Elementl Power chairman and chief executive officer Chris Colbert, commented on the agreement: "Innovative partnerships like this are necessary to mobilise the capital required to build new nuclear projects, which are critical to deliver safe, affordable and clean baseload power and help companies advance their long-term net zero goals."

Amanda Peterson Corio, global head of Data Center Energy at Google said the company "is committed to catalysing projects that strengthen the power grids where we operate, and advanced nuclear technology provides reliable, baseload energy".

"Our collaboration with Elementl Power enhances our ability to move at the speed required to meet this moment of AI and American innovation."

Elementl Power was founded in 2022 as a technology agnostic advanced nuclear project developer. It's a portfolio company of Breakwater North, a nuclear and critical infrastructure focused investment firm, and Energy Impact Partners, a global technology investor.