Following Georgia Power Plant Vogtle Unit 4’s completion and coming online earlier this year, there aren’t any outstanding large nuclear reactors under construction in the United States. But that could change soon.
A new startup, The Nuclear Company, plans to build new nuclear reactors in the U.S. What sets them apart from other companies developing reactors is their focus on building large reactors. While other companies working on new nuclear plants are focused on small modular reactor designs or new advanced non-light water reactors, The Nuclear Company plans to pursue more traditional large reactors.
The company has identified a weakness in the U.S. nuclear industry: iteration.
The first time a company builds a particular reactor design it tends to be incredibly expensive, and recently, companies have stopped after the first or second reactor and failed to realize the monetary benefits of iteration which allows for economies of scale. As you build more of the same design, costs per unit should decrease—making the overall operation more profitable.
The Nuclear Company will focus on a “design-once, build many approach,” because according to its chief development officer, Juliann Edwards, “You can’t do a one-off project. You have to do things at fleet scale.”
To reap these economies of scale, the company will build several reactors of the same type. They intend to start with a 6-gigawatt (GW) facility which they plan to open by the middle of the next decade.
They also plan to utilize sites already approved by the NRC for reactor siting, which should ease the regulatory burden. It currently takes four years (or longer) to receive an early site permit from the Nuclear Regulatory Commission (NRC), so using pre-approved sites will save significant time.
The company’s timing is good given the projected increases in electricity demand in the coming years from Artificial Intelligence, data centers, and the push for the electrification of households and vehicles. This new technology will come with a need for lots of reliable power—and a high willingness to pay for it. That opens new avenues for nuclear power which has the most reliable output of any power source. Although nuclear is fairly capital-intensive to build, as power demand increases, reliability matters more—making the upfront costs feel more worthwhile.
Regardless of whether this endeavor is ultimately successful, it’s encouraging to see an emerging private firm that wants to build large reactors at this scale.