FOR IMMEDIATE RELEASE
KAIROS POWER JOINS WITH BRUCE POWER, CONSTELLATION, SOUTHERN COMPANY AND TVA TO FORM ADVANCED NUCLEAR DEVELOPMENT CONSORTIUM
ALAMEDA, Calif. – April 20, 2022 – Kairos Power has assembled leading North American utilities and generating companies to launch an advanced nuclear development consortium named Kairos Power Operations, Manufacturing and Development Alliance (Kairos Power-OMADA) to advance the development of the company’s advanced fluoride salt-cooled high-temperature reactor (KP-FHR) technology. Current member corporations include:
- Bruce Power, Canada’s only private sector nuclear generator, producing 30% of Ontario’s power and employing more than 4,000 people.
- Constellation, the nation’s leading provider of carbon-free energy. Headquartered in Baltimore, Md., its generation fleet powers more than 20 million homes and businesses.
- Southern Company, a leading U.S. energy company serving 9 million customers through its subsidiaries with headquarters in Atlanta, Ga.
- Tennessee Valley Authority (TVA), the largest federally owned utility corporation in the U.S., providing electricity for 153 local power companies serving 10 million people in Tennessee and six surrounding states.
The purpose of KP-OMADA is to bring together best-in-class nuclear owners and operators to advise on the development of KP-FHR technology, licensing, manufacturing, construction, and commercialization. By collaborating, the alliance will pool knowledge regarding the siting and development of Kairos Power’s User Facility (U-Facility) – a full-scale, non-nuclear demonstration reactor and operations/maintenance training facility – and the siting and development of Kairos Power’s KP-X – a first-of-its-kind, 140 MWe/unit commercial reactor operating at grid scale.
KP-OMADA members believe nuclear power is necessary to drive decarbonization and we must deliver a clean energy solution with robust safety at an affordable cost. With input from this alliance, Kairos Power will pave a successful pathway to commercialization for the KP-FHR advanced reactor technology while fulfilling its mission to enable the world’s transition to clean energy, improve quality of life, and protect the environment.
Mike Laufer, Kairos Power CEO and co-founder
“In partnering with an incredible team of nuclear owners and operators, Kairos Power is taking a significant step forward to lay the groundwork for our first commercial offering. In order for advanced nuclear reactors to play a significant role in the fight against climate change, we are focused on the delivery of a safe and affordable technology through iterative hardware demonstrations. By aligning with industry leaders, we will gain confidence through these iterations that our advanced reactor technology will meet the evolving operational needs of our customers in the years to come.”
Mike Rencheck, President and CEO of Bruce Power
“As a leading producer of clean, reliable and affordable nuclear energy, Bruce Power is pleased to partner with Kairos Power and our industry peers and apply our extensive expertise and experience as a nuclear operator to this exciting and innovative consortium. Bruce Power is committed to its role in the fight against climate change. There is no Net Zero future without nuclear power and advanced nuclear technology is part of the long-term solution.”
Joseph Dominguez, Constellation CEO
“Collaboration is critical as we face the climate crisis. Creating a consortium of industry experts to consult on the salt-cooled reactor project is the right way to advance the next generation of nuclear technology,” Constellation CEO Joseph Dominguez said. “As the operator of the nation’s largest zero-carbon nuclear fleet, we will bring our deep knowledge accrued from operating Constellation’s 21 reactors to help inform this important next step toward achieving a low-carbon future.”
Dr. Mark S. Berry, Vice President of Research and Development, Southern Company
“Southern Company leads a robust research program to evaluate and accelerate next-generation nuclear technologies with high potential to provide reliable, resilient and dispatchable production of clean, carbon-free electricity in a net-zero future. We look forward to furthering our view of the advanced nuclear landscape by participating in the Kairos Power-OMADA consortium.”
Jeff Lyash, President and CEO of TVA
“We believe advanced nuclear technologies will play a critical role in our nation’s drive toward a clean energy future and look forward to working with Kairos Power and all consortium members as we pursue the shared goals of safe, low-cost carbon-free energy. By joining this collaborative effort, we will build upon TVA’s leadership in carbon reduction across our seven-state region and have the opportunity to share best practices and partner as the industry continues to innovate.”
About Kairos Power
Kairos Power is a mission-driven nuclear technology, engineering and manufacturing company singularly focused on commercializing the fluoride salt-cooled, high-temperature reactor (KP-FHR) – a clean source of carbon-free energy that can be deployed with robust safety at an affordable cost. Founded in 2016, the company is unique in applying a rapid iterative development approach supported by a vertical integration strategy to bring advanced reactor technology to market. Following extensive pre-application engagement with the Nuclear Regulatory Commission, Kairos Power’s Construction Permit Application for the Hermes low-power demonstration reactor is currently under formal review. Kairos Power’s 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. Learn more at kairospower.com.
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario and Canada’s only private-sector nuclear generator. The company produces 30% of Ontario’s power and employs more than 4,000 people. Bruce Power delivers clean, reliable, low-cost nuclear power to families and businesses across the province and is committed to protecting the environment and supporting local communities. Learn more at www.brucepower.com.
Constellation (NYSE: CEG) is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, Md., its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90% carbon-free. Constellation has set a goal to eliminate 100% of its greenhouse gas emissions by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation’s largest carbon-free nuclear fleet. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Learn more at www.constellation.com.
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. Learn more at tva.com.