Statement from SVP for Climate and Energy Josh Freed on Transformative New Nuclear Deployment

WASHINGTON – Third Way Senior Vice President for Climate and Energy Josh Freed released the following statement in response to major commitments to support advanced nuclear from Google and Kairos Power and from Amazon and X-energy:

“October 2024 marks the launch of a new era for advanced nuclear power in the United States. The announcement by Amazon of a $500 million investment in X-energy on October 16, and Google’s power purchase agreement with Kairos Power on October 14, signal an enormous commitment to clean, always-available electricity by two of the most valuable companies in the world. It is also a vote of confidence to everyone involved in the development of advanced nuclear power in the United States.

“This is transformative. Between these two deals, Dow’s existing partnership with X-energy, and Terrapower’s development of its Natrium reactor in Wyoming, we now have an order book of as many as 19 advanced nuclear reactors in the US with private sector investment and end-users. That’s a pivotal development to ensure that new nuclear plants can be developed, deployed, and commercialized here in the US. It also puts Third Way’s longstanding call to build 20 new reactors by 2035 within reach.

“Third Way has long worked with all of the companies involved and a bipartisan set of NGO and policymaker partners to restore America’s nuclear leadership. Over the past decade, our efforts and those of our partners have ensured historic progress, resulting in new legislation to support advanced nuclear, develop domestic fuel supplies, and provide clean, firm power for future generations. Today, those efforts come to fruition, and a fundamentally American industry is reborn and revitalized.

“There’s a lot more work ahead: we must ensure enough advanced nuclear fuel is produced in the US to meet demand, guarantee the NRC can quickly review and license these designs, secure sufficient capital to get these and other projects over the finish line, and ensure nimble problem solving for the numerous other unknown challenges that lie ahead.

“These, however, are welcome challenges. They mean that America has finally entered the new nuclear era we’ve been striving for. These are wins for American advanced nuclear – and for the US economy, its national security, and American climate leadership.”