New company has big nuclear plans

The recent startup The Nuclear Company announced plans this month to deploy a series of nuclear reactors by the mid-2030s using a "design-once, build-many approach."

The venture-capital-funded firm wants to use proven, licensed technology and target sites that already have some level of licensing approval from the Nuclear Regulatory Commission to build enough reactors to produce 6 gigawatts of electricity across the country.

The company is "working toward solving America's surging energy demand by redefining how large-scale, nuclear infrastructure projects are delivered," said Juliann Edwards, chief development officer for The Nuclear Company. "We recognize the challenges facing our industry, where one-off nuclear projects historically go over budget and run behind schedule."

A closer look: The company points to the 27 nuclear reactors under construction in China, compared with zero under construction in the United States-though numerous near-term proposals await approval from the NRC.

"Our unique approach integrates proven technology with unparalleled collaboration among diverse organizations, ensuring that fleet-scale projects are executed on-time and on-budget," Edwards said.

The Nuclear Company wants to work as project developer and bring together private equity, utilities, independent power producers, and nuclear technology for rapid deployment and to disperse risk among the parties.

"Together, we'll reap the long-term benefits of plentiful, cheap nuclear power during this once-in-a-century opportunity for nuclear power in America," Edwards added.

While no specifics on locations or reactor design plans have been released, the company saiud it already has attracted early investors: CIV, True Ventures, Wonder Ventures, Goldcrest Capital, and MCJ Collective.

Quotable: "The success or failure of the U.S. economy will be determined by our ability to power its innovations," said Patrick Maloney, Nuclear Company's cofounder and chair. "Nuclear power is the cornerstone of that endeavor. The Nuclear Company's business model is designed to solve the problems that have constrained the country's nuclear potential. [We] aim to reposition the U.S. as a paradigm of clean energy advances that will set the standard for the industry."