Latest news with #Vogtle
Fast Company
23-06-2025
- Business
- Fast Company
New York announces it will build a new nuclear power plant
New York state will build a new nuclear power plant that will provide at least one gigawatt of electricity—enough to power about a million homes. When announcing the project on Monday, Governor Kathy Hochul said it would bring new jobs, more affordable electricity bills, and help provide around the clock power to support data centers without fossil fuels. The plant would be the first nuclear facility built in New York state since the late 1970s and the first major U.S. plant to break ground in about 15 years. (The last nuclear plants built in the U.S., Vogtle Units 3 and 4 in Georgia, began operation in 2023 and 2024 respectively, but construction on them began in 2009.) The project comes as electricity demand is expected to soar, especially due to the increase of data centers to support AI use. Nuclear power has been seen as a clean source of 24/7 power, which wind and solar cannot provide without adequate battery storage, and also as a power source that is insulated from the volatility of oil and gas prices. But some are still concerned about nuclear's safety. Hochul acknowledged these fears at her announcement for the new nuclear power plant, pointing to the concerns and anxiety that led to the shut down of Indian Point, a nuclear power plant in Westchester County, New York. That facility was retired in 2021, but doing so 'turned off one quarter of New York City's power, [that] was almost all clean energy, overnight without an alternative,' Hochul said. To replace that energy, New York state burned more fossil fuels, leading to a rise in emissions. 'There was no Plan B,' Hochul said, and the increase in emission is not a trade off New York can afford to keep making. 'And this is not your grandparents' nuclear reactor,' she added about the forthcoming project. Safety will be at the forefront of the design, she said, including automatic safety systems and 'rigorous' environmental standards.' The forthcoming nuclear power plant will provide 1,600 jobs during construction, and 1,200 permanent jobs once operational. Nuclear is seeing a surge as the demand for electricity increases and as municipalities look to get off fossil fuels. Three Mile Island, the site of the country's worst nuclear disaster, is set to reopen in Pennsylvania in 2028 to support Microsoft's energy needs. The Trump Administration's support for nuclear as part of the president's 'energy dominance' agenda; Trump recently signed an executive order to expedite the licensing process for nuclear reactors. Hochul has spoken to the president about this New York nuclear project, she said, and is committed to working with the White House to build this plant. 'You want energy dominance, I want energy dominance, this is how we do it,' she said. 'So with their financial planning and hopeful support, we can move as fast as possible.' The average time to construct a nuclear power plant is about seven years, though the process can take longer with regulatory hurdles and financial costs. Hochul said she had suggested Elon Musk and his Department of Government Efficiency work with the Nuclear Regulatory Commission in order to make that process 'more efficient.' There is currently no location selected for the New York nuclear power plant, though Hochul said it will be located in upstate New York. The New York Power Authority will help find a site and determine the nuclear reactor's design. The state is also considering looking for private partners to help finance the plant. The number one focus of the project, Hochul said, will be customers paying their electric bills: 'Ratepayers must know that there's going to be reliability, no cost escalation, and they'll be able to see into the future what their bills will look like.'
Yahoo
10-06-2025
- Business
- Yahoo
America's $75 Billion Nuclear Bet: Westinghouse vs. the Future of Energy
Westinghouse is going all-in on America's nuclear revival. Backed by Brookfield and Cameco, the Pennsylvania-based firm is in active talks with US officials, tech firms, and utilities to build 10 large nuclear reactors under President Trump's new energy directive. The order sets a 2030 deadline to begin construction and aims to quadruple US nuclear output by 2050. That kind of ambition could translate into a $75 billion opportunity, based on Department of Energy cost estimates. Interim CEO Dan Sumner says Westinghouse has the edgeits AP1000 design is approved, the supply chain is intact, and it's already delivered units in the US and China. We believe we can do them all, Sumner told the FT, pointing to hyperscaler interest and government loan programs as signs of momentum. Warning! GuruFocus has detected 2 Warning Sign with AMZN. But it's not a done deal yet. Nuclear still faces stiff economic headwinds in the US. While Washington may be on board, local utilities and regulators still have the final sayand memories of the Vogtle project's ballooning costs still linger. Analysts warn that the current US power market structure doesn't guarantee cost recovery for mega-projects, making investor appetite uncertain. Even so, Sumner argues that lessons from past delays have been baked into the new build model: We're the only ones who've done modular nuclear at scale. And now, the learning's embedded. Meanwhile, SMR developers aren't staying quiet. NuScale is pitching a 12-pack of its 77MW modules to rival traditional plants in capacity, while Holtec's 320MW units could be grouped to matchand beatWestinghouse on cost and complexity. We fully intend to compete with the big plants, Holtec's president said. The big question now: Will deep-pocketed buyersthink Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT)step up to fund these nuclear ambitions, or wait for the small guys to scale first? Either way, the race is on. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-06-2025
- Automotive
- Business Wire
Top Engineer from Microsoft, Tesla Joins The Nuclear Company to Lead Software Division
COLUMBIA, S.C.--(BUSINESS WIRE)-- The Nuclear Company, which is leading fleet-scale deployment of nuclear power across America and pioneering the modernization of nuclear construction, today announced the hiring of Microsoft and Tesla engineering veteran Owen Lloyd as Vice President, Software Engineering. Lloyd spent more than 16 years at Microsoft, where, as Senior Director of Engineering, he oversaw the expansive team of engineers developing software for the heralded Surface line of laptops and tablets. He also worked closely with large suppliers including Intel and Qualcomm, bringing strong experience with complex supply chains like those involved in nuclear construction. Despite the need for nuclear's firm, clean baseload power, the biggest challenges facing the industry, which creates high-paying head-of-household jobs, are that nuclear projects are almost always over budget and behind schedule. Lloyd will lead a team of AI/ML software engineers, data scientists and product specialists to develop a pioneering construction platform that will employ cutting-edge digital technologies, such as AI-driven site selection, real-time construction updates, and integrated supply chain logistics. This approach will pair with advanced construction and manufacturing methods to ensure The Nuclear Company builds on time and on budget, as it deploys its first 6-gigawatt fleet of nuclear reactors across America using proven, already licensed reactor technology and a design-once, build-many methodology. 'The world's largest technology companies rely on nuclear and its firm, clean baseload energy to power their AI data centers,' said The Nuclear Company Chief Nuclear Officer Joe Klecha, who was tasked with taking over the building of Vogtle units 3 and 4 in the midst of the ongoing project. The two reactors are the only ones started and built in America in the past three decades. 'Just as these tech giants need nuclear, the nuclear industry needs to utilize the advanced technology they have developed.' Lloyd also brings leadership experience from Tesla, where his engineering team shipped major in-vehicle software updates bi-weekly. Among his work was helping launch the company's Model 3 vehicle. He also held leadership roles at LG, where he improved software platforms for smart televisions, and Salesforce, where his responsibilities included upgraded sales cloud features for workers in the field. 'I've seen firsthand as a leader at some of the world's largest companies how vital nuclear is to powering economic expansion and technology innovation,' Lloyd said. 'I was drawn to The Nuclear Company because of its technology-first approach, as well as my drive to solve the most complex challenges and building nuclear reactors is among humanity's most impressive feats.' About The Nuclear Company The Nuclear Company is pioneering the modernization of nuclear construction and leading fleet-scale deployment of nuclear power across America. By integrating proven, licensed reactor technologies with digital innovation and its design-once, build-many methodology, the company aims to reduce costs and shorten development timelines. This approach leverages AI-powered real-time construction monitoring and advanced project management to streamline deployment and ensure on-time, on-budget delivery. The Nuclear Company is committed to delivering safe baseload electricity at the lowest cost, while catalyzing the nuclear industry toward rapid development in America and globally. For more information, visit:
Epoch Times
03-05-2025
- Business
- Epoch Times
Small Reactor Innovations Spur Global Interest in Nuclear Energy
Few 'This shift has been long overdue,' said William Magwood, director-general of the 'The numbers have been telling us for years that nuclear was going to play a substantial role if we were going to meet the objective many countries have set for themselves, to reduce CO2 emissions,' he said. Speaking during a Center for Strategic & International Studies' But, he predicted, within five years, 'We're going to see a sort of democratization of nuclear. There's a real strong possibility you're going to see nuclear power plants in Kenya, Philippines, Indonesia, countries that really haven't had this before.' During its COP28 meeting in Dubai, 25 nations signed a pledge to triple nuclear energy capacity by 2050. Related Stories 4/19/2025 4/13/2025 The $300 billion fell shy of the $1 trillion proponents initially sought, a shortfall fostered by a realization many nations are not meeting decarbonization goals or building the grid needed to accommodate increasing electricity demand. During COP29, 'countries were expected to bring plans to show how they've already reached their targets,' Magwood said, 'and many of them discovered they were not able to present plans that were going to reach the targets.' The shortfalls came as 'a bit of a shock for some policy-makers,' he said. 'But behind-the-scenes, when I visit with energy ministers and other officials in different capitals, they would admit to me they had no idea how these targets were going to be met.' The center's Energy Security Senior Fellow Jane Nakano said that, in addition to decarbonization, revived support for nuclear energy is being driven by concerns about energy security and interest in stabilizing power costs to spur economic development. 'The war in Ukraine was a game-changer because it reasserted what many countries today see as their number one objective, assuring energy security,' Magwood agreed. He said that after more than 60 years of globalization, 'Energy security had kind of disappeared from the international discussion. 'But,' Magwood added, 'it's back and it's back with a vengeance.' The shuttered Three Mile Island nuclear power plant stands in the middle of the Susquehanna River near Middletown, Pa., on Oct. 10, Plants Run By Old-Timers There are approximately The United States is the world's largest generator and consumer of nuclear energy, with 94 nuclear reactors in 55 power plants, which the U.S. Energy Information Administration calculates generated However, most reactors were built between 1970 and 1990 and have averaged more than 40 years in service. The only new one to come online in the United States since 2016 is Vogtle's fourth reactor in Georgia, which is $16 billion over budget and six years behind schedule. This is a common scenario worldwide, Magwood and former U.S. International Atomic Energy Agency Representative Laura Holgate said, with many of the world's nuclear plants decades old. Nakano said the 'quite ambitious' goal to triple nuclear energy worldwide would require building up to 50 reactors annually. Not only is that possible, Magwood said, but it's been done. 'In the 70s and 80s, the build [rate] back in those days is just about what you would need right now to achieve a tripling by 2050,' he said, 'so it's certainly within the positive realm of the possible.' The biggest obstacles are industrial rust, Magwood said. 'The challenge is we don't have the same infrastructure we had back in the 70s and 80s,' he said. 'There are not as many companies that are building nuclear plants today. So we don't have supply chains, we don't have the personnel, we don't, in some cases, have the regulatory infrastructure to do this.' All this could be changing. Test engineer Jacob Wilcox pulls his arm out of a glove box used for processing sodium at TerraPower, a company developing and building small nuclear reactors in Everett, Wash., on Jan. 13, 2022. Elaine Thompson/AP Photo 100 Years Of Certitude Advanced reactor designs, including portable small nuclear reactors, are completing demonstrations and prototype deployments and are on the cusp of being commercially available. These new reactors can be mass-produced and 'have internalized the current state of knowledge' to bring greater efficiency at lower costs, Holgate said. 'That's different than the past,' Magwood said. 'Nuclear has always been kind of a one-off. You build one here, and you go away for 10 years. You build one there, you go away for 20 years. That's always kept them very expensive.' But with mass reactor production with standard features, costs will significantly decline and nuclear energy will grow quickly, he said. 'If you really want to see cost come down, have a big market, continuous manufacturing, and then you're really in business,' Magwood said. The Nuclear Energy Agency he leads is a component of the 38-nation Magwood said virtually all utility-scale nuclear power plants built in the next 20 years will use contemporary technologies, noting his agency is tracking more than 90 emerging nuclear technologies. He doubts more than a few will advance to demonstration stages. 'We're going to see Darwin kick into effect here. There will not be 90 technologies when the smoke clears,' he said, not venturing a guess at what 'a relatively manageable number' of feasible technologies would be. Magwood said that with mass-produced, small portable reactors likely in use within decades as plug-in systems that don't require user expertise in homes and businesses, there's concern about ensuring uniform safety and environmental standards. 'We're talking about small modular reactors that you may see in a much, much larger number of facilities than in the past,' he said. 'This is going to change the picture for the inspection community; doesn't necessarily make it technically more difficult, but it just may be a capacity issue.' Holgate said with mass production, inspections can be conducted check-list fast, citing the International Atomic Energy Agency's 'Milestones Process' as its ongoing attempt to streamline reviews, permitting, and licensing. The program is 'a very, very clear step-by-step process about, how do you go from a very limited regulatory and managerial capacity around nuclear, to be able to develop a procurement approach? The human capital? Your supply chain issues?' Magwood said many of the mostly-European members of the Organization for Economic Co-operation and Development have extensive experience in operating nuclear power plants so his agency is offering its consultancy services to 'newcomer' nuclear energy nations. 'What the [International Atomic Energy Agency] does with the 'Milestones Process' is very important,' he said. 'What we're planning to do with countries is work on policies and economic development.' Developing collaborative, innovation-sharing relationships with 'newcomer' nuclear energy nations 'becomes massively important,' Magwood said. 'That's going to be true in the future, too,' he said. 'You're going to see these kinds of relationships [because] whenever a country makes a decision about building nuclear, that partner will be with them, holding their hand, for 100 years. So, who do you want to have this 100-year relationship with?'
