It’s been an encouraging week for nuclear energy fans. Amazon announced investments in three “Innovative nuclear energy projects“, along with Citadel’s Ken Griffin, which should deliver five gigawatts of carbon-free power over the next 15 years. Google announced a partnership with Kairos Power, which it described as ” The first institutional agreement in the world To purchase nuclear energy from several small modular reactors.”
And that’s just this week. Last month, Microsoft announced a partnership with energy company Constellation Reopening a nuclear reactor On Three Mile Island – Yes, Which Three Mile Island– It will come online in 2028.
Why the sudden nuclear renaissance? The energy needed to run AI data centers is one reason. The need to reduce carbon emissions amid climate change is another matter. Public support for nuclear energy It has increased in recent years. Although nuclear energy is clean, Nuclear fissionIts production process uses radioactive materials that can cause lethal levels of radiation if released into the environment in an accident.
I recently spoke with Patty Pope, CEO of Pacific Gas & Electric (PG&E) in California Next drive Podcast sponsored by Deloitte, which also supports this newsletter. Poppe has focused on improving the company’s operations, safety record and culture, after PG&E’s liability in the 2018 Camp wildfires led to the company’s bankruptcy. Bob believes the Diablo Canyon Nuclear Power Plant is “an important part of the mix.”
“The conversation has changed globally, and here in the United States,” says Bobby. I think the nation has realized that we can operate nuclear units safely, yes, it was scary in the 1970s, but that was a long time ago. And we realized that there are ways, just like with wildfire prevention, where we have a risk mitigation system in our nuclear power plant where we can fail safely.
What is different is the advent of small modular reactors, or SMRs. Although versions have been around for years, the US government and private companies have begun making serious investments in their development over the past decade. Thanks to its smaller and more flexible size, it can be quickly scaled up and adapted to a range of needs.
Bob Nardelli, the former CEO of Chrysler and Home Depot, understands the landscape from his days at GE Energy. Through his private equity investment firm, X-LR8, Nardelli now invests in BWX Technologies (BWXT), which makes a range of nuclear components and services. “I think this is the solution for the future,” Nardelli says. “You don’t get blind surges (sudden voltage drops), distribution losses, fires from lightning striking electrical lines, and the cycle life is extraordinary.”
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Diane Brady
diane.brady@fortune.com
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