Google Agrees To Fund Three Nuclear Energy Sites

Artificial intelligence (AI), online ad serving, media buying, and search require a substantial amount of energy that companies have been trying to determine how to support. Google on Wednesday announced an agreement with nuclear developer Elementl Power to develop three project sites for advanced reactors.

In the latest example of partnerships and commitments data-center energy, Google has committed early-stage development capital for the three projects. Each will generate at least 600 megawatts.

Ryan Mills, co-founder and president of Elementl Power, stated that the company was founded in 2022 to solve a "critical industry need and serve as a catalyst for private capital formation in advanced nuclear projects."The company has not yet built any sites. 

This agreement is part of Google's "continued work to source 24/7 baseload energy to support our operations and strengthen power grids. It also helps Elementl advance its goal of bringing significant nuclear capacity online by 2035," Google wrote on a blog post.

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The approach links capital investment directly with the growing demand for clean baseload power. Google having the option for commercial offtake once projects are complete, which means the company agrees to purchase a specific amount from the supplier.

In addition to Google, several major technology companies such as Amazon, Meta and Microsoft have invested in nuclear power to address the growing energy demands for data centers and artificial intelligence initiatives. 

Small modular reactors (SMRs) are gaining traction due to the small size, modular design, and potential for efficient and cost-effective energy production. 

TerraPower, the energy project founded by Microsoft co-founder Bill Gates, will build 20 nuclear reactors through partnerships in several countries. He made the announcement during a meeting with President Prabowo Subianto at the Merdeka Palace today. He explained the energy project stems from the need for low-cost electricity to support developing countries. 

Gate's company also is preparing to begin supplying electricity directly to the grid by 2030.

But Wyoming is also exploring off-grid applications to meet the high energy demands of industries that require reliable, clean energy, but don’t get it from the system that distributes energy to other users across the region.

 
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