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Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. An estimated 70% of the world’s internet traffic travels through Data Center Alley each day. “Small modular nuclear reactors will play a critical role in positioning Virginia as a leading nuclear innovation hub,” said Virginia Gov. “Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell.

Persons: It’s, there’s, ”, Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Organizations: Amazon, Services, Washington State, AWS, Amazon’s, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion’s, SMRs, ” Virginia, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen

☆ Amazon goes nuclear, to invest more than $500 million to develop small module reactors
▼ + stars: | 2024-10-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +5 min

Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. "Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace," said X-energy CEO J. Clay Sell. Last spring, AWS invested in a nuclear energy project with Talen Energy , signing an agreement to purchase nuclear power from the company's existing Susquehanna Steam Electric Station, a nuclear power station in Salem Township, Pennsylvania. AWS also purchased the adjacent, nuclear-powered data center campus from Talen for $650 million.

Persons: It's, there's, Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Sell Organizations: Amazon, Services, Washington State, AWS, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion's, SMRs, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen

☆ Google inks deal with nuclear company as data center power demand surges
▼ + stars: | 2024-10-14 | by ( Pippa Stevens | ) www.cnbc.com time to read: +3 min

Google said Monday that it will purchase power from small modular reactor developer Kairos Power, as tech companies increasingly turn to nuclear power as a way to fulfill the growing energy demands from data centers. Monday's announcement is another example of the growing partnership between tech companies and nuclear power. Data centers need 24/7 reliable power, and right now nuclear is the only source of emissions-free baseload power. Many hyperscalers have ambitious emissions-reduction targets, which is why they're turning to nuclear power. Constellation Energy is restarting Three Mile Island to power Microsoft data centers, while Amazon bought a data center from Talen Energy that's powered by the Susquehanna nuclear power plant.

Persons: Kairos Power, Michael Terrell, SMRs, Bill Gates, Sam Altman, Jeff Bezos, Terrell Organizations: Google, Kairos, U.S, Department of Energy, —, Constellation Energy, Microsoft, Amazon, Talen Energy, Susquehanna Locations: Mountain View , California, Oak Ridge , Tennessee

☆ Using options to trade the AI-driven power generation buildout
▼ + stars: | 2024-09-23 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Power generation has emerged as a crucial investment theme in the context of artificial intelligence (AI) energy demand due to the significant electricity requirements of AI technologies. Several factors make power generation a vital AI-adjacent investment theme: Data centers, the backbone of AI operations, are among the largest electricity consumers. Investing in power generation becomes vital to support this expanding infrastructure. Fluor offers a wide range of services in the nuclear power sector, including project management, engineering, procurement, construction, and maintenance. The company has experience developing new nuclear power plants and maintaining, refurbishing, and decommissioning existing ones.

Persons: Fluor's, FLR, I've Organizations: Bechtel, KBR, Fluor Corporation, Corporation, Fluor, NuScale, CNBC, NBC UNIVERSAL Locations: Irving , Texas, Fluor

☆ How a shuttered power plant in Michigan could pave the way for more nuclear energy
▼ + stars: | 2024-08-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +7 min

The Palisades Nuclear Generating Station in Covert, Mich. John Madill | The Herald-Palladium | APThe Palisades Power Plant on the shores of Lake Michigan had become a piece of history, a relic of an era when nuclear energy was viewed as the future. The new technology, which could become the first of its kind on the U.S. grid, promises to speed deployment of nuclear plants in the future. The U.S. and a coalition of more than 20 other countries pledged in December to triple nuclear energy by 2050. But building new nuclear plants is slow and expensive. SMRs are viewed as an important path to expand nuclear power because they promise to reduce capital costs, a major hurdle to building new plants.

Persons: John Madill, Kelly Trice, Holtec, Gretchen Whitmer, Whitmer, Trice, Jennifer Granholm, Kristen Norman, Chris Womack, " Trice, We've Organizations: Herald, Palladium, Palisades Power, Holtec, Department of Energy, Nuclear Regulatory Commission, Michigan, Training, Bloomberg, Getty, Rystad Energy, Energy Information Administration, Southern Company, Big Tech, Holtec's SMR Locations: Covert, Mich, Lake Michigan, Covert , Michigan, Grand Rapids, U.S, Michigan, Palisades, Pennsylvania, Florida, Turkey

☆ Electricity demand from data centers, AI and crypto could double in 2 years. How to play it
▼ + stars: | 2024-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

The firm pointed to recent data from the International Energy Agency, which forecasted that electricity consumption from data centers, artificial intelligence and the cryptocurrency sector could double by 2026. "The latest IEA electricity forecasts paint an even more alarming outlook for data center consumption," analyst Hiral Patel wrote in a Monday note. Barclays said it is looking at three investment areas that are a key part of the trend: data center operators, data center suppliers and data center grid infrastructure builders. After successfully using lithium-ion batteries at a Dublin data center , Microsoft wants to expand grid-interactive battery storage in other areas. That includes nine data centers in Ireland, which is a data center hotspot in Europe that's also under increased risk given its soaring electricity consumption, Barclays said.

Persons: Hiral Patel, Morgan Stanley's, Europe that's, Stifel Nicolaus, Eaton Organizations: Barclays, International Energy Agency, CNBC, Microsoft, Electricity, Constellation, Digital Realty Trust, Digital, European Union, Blackstone, Digital Realty, Devices, AMD, Tech Locations: Japan, U.S, Dublin, Ireland, Europe, European, Frankfurt, Paris, Virginia

☆ The US, Russia and China are in a race to dominate new-wave nuclear energy — and win global influence
▼ + stars: | 2024-02-01 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +12 min

Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.

Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, ”, Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, “, ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, “, MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates

☆ Sweden plans new nuclear reactors by 2035, will share costs
▼ + stars: | 2023-11-16 | by ( Simon Johnson | ) www.reuters.com time to read: +2 min

By 2045 the government wants to have the equivalent of 10 new reactors, some of which are likely to be small modular reactors (SMRs), smaller than conventional reactors. Energy Minister Ebba Busch said the government was planning a "massive build out" of new nuclear power by 2045. "It's decisive for the green transition, for Swedish jobs and at heart for the welfare of our citizens," she told reporters. Countries like Poland, the Czech Republic, and Britain are looking at expanding nuclear power as societies transition to a fossil-fuel free future. Sweden voted to get rid of nuclear power in 1980, and has only six of an original 12 reactors still in production.

Persons: Tom Little, Ebba Busch, Elisabeth Svantesson, Busch, Finland's, Germany's Uniper, Simon Johnson, Chizu Nomiyama, Elaine Hardcastle Organizations: Rights, Energy, EDF, Thomson Locations: Swedish, Stockholm, Sweden, Rights STOCKHOLM, Poland, Czech Republic, Britain

Nov 8 (Reuters) - NuScale Power (SMR.N) said on Wednesday it has agreed with a power group in Utah to terminate the company's small modular reactor project, dealing a blow to U.S. ambitions for a wave of nuclear energy to fight climate change and sending NuScale's shares down 20%. In 2020, the Department of Energy approved $1.35 billion over 10 years for the plant, known as the Carbon Free Power Project, subject to congressional appropriations. NuScale's Utah plant was expected to be the first SMR to win a license from the U.S. Nuclear Regulatory Commission for construction. An Energy Department spokesperson said it was unfortunate news, but added, "We believe the work accomplished to date on CFPP will be valuable for future nuclear energy projects. So far, only NuScale's SMR design has been approved by the NRC.

Persons: NuScale, John Hopkins, Critics, Biden, Manas Mishra, Timothy Gardner, Shounak Dasgupta, Krishna Chandra Eluri, Leslie Adler Organizations: Department of Energy, Carbon, Power, Utah Associated Municipal Power Systems, SMR, U.S . Nuclear Regulatory Commission, Energy Department, DOE, NRC, Thomson Locations: Utah, Romania, Kazakhstan, Poland, Ukraine, NuScale's Utah, U.S, Bengaluru, Washington

Summary U.S. regulators are ready to review and license the next generation of nuclear reactors while staying committed to safety, the Nuclear Regulatory Commission (NRC) says. The NRC is under pressure to show it can move fast on a new generation of nuclear technology, including small modular reactors (SMRs) and other previously untested designs, as many in the industry call for deep reforms at the regulator. NuScale’s VOYGR 50-MW SMR power plant became the first SMR design certified by the NRC in January. Earlier this month, the NRC accepted NuScale's uprated VOYGR-6 plant design for a Standard Design Approval (SDA) application. “We are yielding timelier and more cost-effective reviews without compromising on safety,” Taylor says.

Persons: ”, Judi Greenwald, “, Steven Arndt, NRC Robert Taylor, NuScale’s VOYGR, ” Taylor, “ We're, Taylor, Kairos, they're, it's, –, bro, Allison Macfarlane, Macfarlane skewered, ” Macfarlane Organizations: Nuclear Regulatory Commission, NRC, Nuclear Innovation Alliance, Department of Energy, DOE, American Nuclear Society, New Reactors, ” Tech bros, Institute of Art, Thomson Locations: United States

☆ New CEO of UK's Rolls-Royce brings in new CFO, makes leadership changes
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: +2 min

Shares in Rolls-Royce have surged 60% since the start of the year, lifted by optimism about a recovery in air travel and Erginbilgic's turnaround plans. The company on Friday named McCabe, a BP executive, as its new chief financial officer, to join later this year. New finance chief McCabe is currently senior vice president, finance for the customer and products division of BP. The previous civil aerospace boss Chris Cholerton was named group president, taking on responsibility for Rolls-Royce's nuclear operations, including temporarily as interim CEO of its small modular reactors (SMR) unit. Rolls-Royce said the previous SMR boss, Tom Samson, would leave with immediate effect.

☆ U.S. approves design for NuScale small modular nuclear reactor
▼ + stars: | 2023-01-20 | by ( Timothy Gardner | ) www.reuters.com time to read: +2 min

Companies Nuscale Power Corp FollowWASHINGTON, Jan 20 (Reuters) - The U.S. nuclear power regulator has certified the design for the NuScale Power Corp's (SMR.N) small modular reactor, the first such approval in the country for the next generation technology. The Nuclear Regulatory Commission's approval, published in the Federal Register late on Thursday, clears a hurdle for NuScale. The company plans to build a demonstration small modular reactor (SMR) power plant at the Idaho National Laboratory. The U.S. Department of Energy has provided more than $600 million since 2014 to support the design, licensing and siting of NuScale's power plant and other small modular reactors. "SMRs are no longer an abstract concept," said Kathryn Huff, assistant secretary for nuclear energy at the Energy Department.

☆ Rolls-Royce seeks to progress mini nuclear plants by site visits
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

Companies Rolls-Royce Holdings PLC FollowLONDON, Jan 13 (Reuters) - British engineering company Rolls-Royce (RR.L) has begun to assess potential sites for mini nuclear reactors it aims to connect to the country's power grid by the end of the decade. Britain also needs to replace ageing nuclear plants as all but one of its nuclear sites, which generate around 13% of the country's electricity, are scheduled to close by 2030. The power plants will be about the size of two soccer fields and power one million homes. Rolls-Royce has short-listed three sites for the factory to make the SMRs, two in the northeast of England and one in north Wales. Reporting by Sarah Young Editing by David Goodman and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Canada backs nuclear power project with C$970 mln financing
▼ + stars: | 2022-10-25 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The nuclear power project, which is being developed by utility Ontario Power Generation (OPG) in Darlington, will be the first commercial grid-scale SMR in the Group of Seven wealthy nations (G7), according to the minister's spokesperson. read more"We are doing this because nuclear energy – as a non-emitting source of energy – is critical to the achievement of Canada's and the world's climate goals," Wilkinson will say. "Nuclear power is one source that can help in reaching our climate targets while addressing growing future demand." About 15% of Canada's electricity comes from nuclear power, according to the World Nuclear Association. The reactors are designed by GE-Hitachi Nuclear Energy, an alliance between General Electric Co (GE.N) and Japan's Hitachi Ltd , and could power about 300,000 homes after completion, OPG says.

Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.

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