Ambitious Plans for Nuclear Energy Deployment by The Nuclear Company
Aug/06/2024
The Nuclear Company, a newly unveiled venture capital–funded firm, announced an ambitious plan to deploy a 6-gigawatt nuclear-fission reactor fleet by the mid-2030s. This capacity would surpass the U.S.'s nuclear deployment in the last decade, with only three new reactors commissioned since 2016 and none currently under construction. The U.S., along with over 20 other countries, pledged at COP28 to triple its nuclear capacity by 2050, a goal requiring significant operational changes within the industry. The Nuclear Company aims to achieve this through a “design-once, build-many” strategy, utilizing proven, licensed technology for multiple reactor constructions across the U.S. The firm, co-founded by Jonathan Webb and Patrick Maloney, employs fewer than 50 people and has secured undisclosed funding from several investment firms. Despite the consistent demand for nuclear power, recent U.S. nuclear projects have been plagued by delays and budget overruns. The Nuclear Company seeks to leverage economies of scale and learning curve efficiencies to address these challenges. As the U.S. faces growing electricity demand driven by AI, manufacturing, and electrification, The Nuclear Company advocates for giga-scale reactors over small modular reactors (SMRs) to meet this rising demand. The chart below shows the number of U.S. trademarks related to nuclear energy published between 2020 and 2023.
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