FOR IMMEDIATE RELEASE
KAIROS POWER CONTACT:
KAIROS POWER AND TVA TO COLLABORATE ON LOW-POWER DEMONSTRATION REACTOR
OAK RIDGE, Tenn. – May 6, 2021 – Kairos Power and the Tennessee Valley Authority (TVA) have announced plans to collaborate on deploying a low-power demonstration reactor at the East Tennessee Technology Park (ETTP) in Oak Ridge, Tennessee.
As part of this agreement, TVA will provide engineering, operations, and licensing support to help Kairos Power deploy its low-power demonstration reactor, named Hermes.
“Teamwork is the hallmark of the nuclear industry, and through this partnership with Kairos Power we can share TVA’s safety and innovation insights to advance nuclear technology while gaining experience with licensing for advanced reactors,” said TVA President and CEO Jeff Lyash. “Nuclear power is the key to fueling our economy with reliable, affordable, and clean electricity, and it is critical to our national security.”
TVA generates more than 40% of its electricity from nuclear power, and is recognized as a national leader in nuclear power with the third largest nuclear fleet in the U.S.
“We look forward to collaborating with TVA, and drawing upon the well-versed knowledge and expertise of their team,” said Mike Laufer, Co-Founder and CEO of Kairos Power. “Kairos Power and TVA have a shared commitment to improving people’s quality of life and pursuing innovation through advanced nuclear that provides reliable, clean energy for the future.”
Kairos Power’s singular objective for deploying the Hermes Reactor is to demonstrate the capability to deliver an advanced reactor at the costs necessary to make nuclear power the most affordable source of dispatchable electricity in the United States.
About Tennessee Valley Authority
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.
TVA holds the nation’s first Early Site Permit for a small modular reactor from the U.S. Nuclear Regulatory Commission and is currently evaluating the potential environmental impacts associated with deployment of more than one reactor and more than one design at the Clinch River Nuclear Site.
About Kairos Power
Kairos Power is a nuclear energy technology and engineering company whose mission is to enable the world’s transition to clean energy with the ultimate goal of dramatically improving people’s quality of life while protecting the environment. This goal will be accomplished through the commercialization of the Kairos Power fluoride salt-cooled, high-temperature reactor (KP-FHR) that can be deployed with robust safety and at affordable cost.