Company’s unique approach will help America meet surging energy demand with clean reliable power
The Nuclear Company, a fleet-scale nuclear development company based in America’s heartland, today announced plans to construct a series of nuclear power plants in the U.S.
The company’s fleet-scale model combines using proven, licensed technology and a design-once, build-many approach with developing coalitions across communities, regulators and financial stakeholders. The Nuclear Company is committed to delivering safe and reliable electricity at the lowest cost. This is accomplished by developing 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 launch comes as America faces an unprecedented surge in energy demand driven by AI data computing, onshoring manufacturing, and the electrification of everything. The International Energy Agency projects global electricity demand will increase nearly 30 percent by 2030 — the equivalent of adding the energy requirements of another United States and European Union combined. Despite the need for nuclear’s zero-carbon power, the biggest challenge facing the industry is that one-off nuclear projects almost always are over budget and behind schedule. The Nuclear Company’s model avoids these pitfalls.
“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. 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.”
Building on its work developing coalitions in support of fleet-scale nuclear, The Nuclear Company is embarking on The Nuclear Frontier bus tour with stops in six states and Washington D.C. The tour aims to engage with government and industry leaders, as well as the skilled tradespeople who will rebuild America’s nuclear leadership. The Nuclear Company’s consortium of utilities and independent power producers, hyperscalers, nuclear technology suppliers, and private equity help mitigate risk and make nuclear power an attractive investment.
The Nuclear Company’s plans also will help rebuild America’s leadership in clean baseload energy. While China has 27 nuclear reactors under construction to provide stable, clean power for decades to come, America has zero commercial reactors under construction. The U.S. has also committed to net-zero greenhouse gas emissions by 2050, pledging at COP28 alongside more than 20 countries to triple nuclear capacity by that time. The Nuclear Company’s work will be vital to the U.S. hitting that goal.
“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 The Nuclear Company Co-founder and Chair Patrick Maloney. “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.”
Early investors in the company include CIV, an investment firm that backs and builds companies at the vanguard of energy and industry; True Ventures, Wonder Ventures, Goldcrest Capital, and MCJ Collective.
About The Nuclear Company
The Nuclear Company is a fleet-scale nuclear development company using proven technology to construct a series of nuclear power plants across America. Through its design-once, build-many approach and coalition building across communities, regulators, and financial stakeholders, The Nuclear Company is committed to delivering safe and reliable electricity at the lowest cost, while catalyzing the nuclear industry toward rapid development in America and globally. For more information, visit: www.thenuclearcompany.com
About The Nuclear Frontier
The Nuclear Frontier is an annual bus tour launched by The Nuclear Company. The tour events will bring together industry leaders and honor the tradespeople who have been the backbone of building America’s legacy as the world’s nuclear leader. The tour starts in Pittsburgh at U.S. Women in Nuclear’s annual conference, which attracts nearly 1,000 attendees, and concludes in Washington D.C. at a capstone event hosted by The Hill. To follow the company on tour, visit: www.thenuclearfrontier.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240718106745/en/
Contacts
The Nuclear Company Media Relations- info@thenuclearcompany.com
