Google Partners With Elementl Power To Develop 3 Advanced Nuclear Projects For Data Center Energy

Elementl’s CEO, Chris Colbert, said that once the projects reach a final investment stage, Elementl will raise capital from other sources—for example, infrastructure funds—to actually build them.

Google, a subsidiary of Alphabet (GOOGL) (GOOG), announced on Wednesday that it has entered into a strategic partnership with Elementl Power, a developer of advanced nuclear reactors, to secure clean and reliable energy for its data centers. 

The tech giant will provide early-stage capital to support the development of three U.S.-based nuclear projects, each targeting a minimum of 600 megawatts (MW) of power capacity.

The agreement is the latest in a broader trend of technology companies increasingly seeking nuclear solutions to meet the growing energy demands of their data centers. 

Google’s involvement in nuclear energy follows its October 2023 partnership with Kairos Power to support small modular reactors (SMRs).

Elementl Power, founded in 2022, has yet to develop nuclear sites but plans to use Google’s funding for early-stage tasks such as permitting and securing transmission rights. 

Although the exact terms of the deal remain private, Google will have the option to purchase power once the reactors are operational.

The agreement aligns with Google’s ongoing efforts to strengthen the power grids that support its data centers. 

“Advanced nuclear technology provides reliable, 24/7 baseload energy, which is critical to our operations,” said Amanda Peterson Corio, Google’s global head of data center energy.

Elementl’s CEO, Chris Colbert, noted that partnerships like this are essential for financing nuclear projects, which he says are key to providing affordable and clean energy. 

Colbert added that once the projects reach a final investment stage, Elementl will raise capital from other sources—for example, infrastructure funds—to actually build them, according to a report by CNBC. The company’s goal is to add 10 gigawatts (GW) of nuclear capacity to the U.S. grid by 2035.

In October, Google teamed up with small modular reactor company Kairos Power, pledging to buy power from its fleet of reactors. At the time, Google said the first reactor would enter service by 2030, with more coming online through 2035.

Alphabet’s stock traded flat in pre-market trade on Wednesday. The company’s Class C shares are down 13% year-to-date, with a loss of around 2% over the past 12 months. 

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