Elementl and Google agree on site-first approach to three nuclear projects

Google plans to provide “early-stage capital” to help Elementl prepare three potential U.S. nuclear reactor projects, each with “at least 600 MW” of capacity. While the locations have not been announced, they are likely to be where Google wants more baseload power for data centers. The agreement gives Google the option for commercial off-take once the projects are complete, as part of “continued work to source 24/7 baseload energy to support our operations and strengthen power grids,” Google said.

Technology TBD: In addition to disclosing no specific sites, the two companies have not announced a preferred reactor technology. Elementl is not marketing an advanced reactor design of its own. Instead, it is positioning itself as a developer that can work between utilities or power producers and a technology supplier chosen to meet specific power needs.

Elementl was “formed to break the stalemate in advanced nuclear power deployment by providing turnkey development, financing, and ownership solutions for customers that want access to clean baseload power but may not want to own or operate nuclear power assets,” according to the announcement.

Mobilized: Elementl plans to evaluate potential technology; engineering, procurement, and construction (EPC) as well as other project partners while prioritizing specific sites for accelerated development.

"Google is committed to catalyzing projects that strengthen the power grids where we operate, and advanced nuclear technology provides reliable, baseload, 24/7 energy," said Amanda Peterson Corio, Google’s global head of data center energy. "Our collaboration with Elementl Power enhances our ability to move at the speed required to meet this moment of AI and American innovation."

“Innovative partnerships like this are necessary to mobilize 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," said Elementl Power chair and CEO Chris Colbert. "We look forward to working with Google to execute these projects and bring safe, carbon-free, baseload electricity to the grid."

Elementl GAIN: In fiscal year 2022, Elementl won a GAIN (Gateway for Accelerated Innovation in Nuclear) award to partner with Oak Ridge National Laboratory subject-matter experts and use the Oak Ridge Siting Analysis for power Generation Expansion (OR-SAGE) tool to identify potential advanced nuclear development locations across specific regions in the United States.

According to the award abstract, Elementl “identifies, acquires, and prepares locations throughout the U.S. to accommodate the deployment of advanced reactors.”

At the time of the GAIN award, Elementl was “evaluating dozens of locations in the U.S. for siting suitability of advanced reactor technologies,” using siting criteria from the Nuclear Regulatory Commission and the Electric Power Research Institute. The data analysis capabilities of the national lab–developed OR-SAGE offered the company the potential to further reduce project risk.

Project management: Elementl is looking for customers among utilities and independent power producers that want to add new nuclear capacity while avoiding project management or financial risks. For them, Elementl markets the “option to acquire the project only once it’s fully operational and risk-mitigated.”

The company is approaching the nuclear industry as a service provider, offering project management services, long-term operating services agreements, or site feasibility analyses.

Elementl’s backing: Founded in 2022 in Greer, S.C., Elementl Power now operates out of Washington, D.C. The company is owned by Breakwater North, a nuclear- and critical infrastructure–focused investment firm, and Energy Impact Partners, a global technology investor committed to innovating the energy industry.