October 14, 2024
October 14, 2024
USNIC Key Mover Update
GOOGLE AND KAIROS POWER PARTNER TO DEPLOY 500 MW OF CLEAN ELECTRICITY GENERATION
The deal represents the first corporate agreement for multiple deployments of a single advanced reactor design in the United States.
Alameda, CA – October 14, 2024 – Kairos Power and Google have signed a Master Plant Development Agreement, creating a path to deploy a U.S. fleet of advanced nuclear power projects totaling 500 MW by 2035.
Under the agreement, Kairos Power will develop, construct, and operate a series of advanced reactor plants and sell energy, ancillary services, and environmental attributes to Google under Power Purchase Agreements (PPAs). Plants will be sited in relevant service territories to supply clean electricity to Google data centers, with the first deployment by 2030 to support Google’s 24/7 carbon-free energy and net zero goals.
The innovative, multi-plant agreement will support technology development by extending Kairos Power’s iterative demonstration strategy through its first commercial deployments. Building on progress from the early iterations, each new plant will enable continued learning and optimization to support accelerated commercialization. Along the way, milestone-based accountability baked into the agreement will establish confidence in Kairos Power’s ability to deliver throughout the long-term partnership.
“Our partnership with Google will enable Kairos Power to quickly advance down the learning curve as we drive toward cost and schedule certainty for our commercial product,” said Mike Laufer, Kairos Power CEO and co-founder. “By coming alongside in the development phase, Google is more than just a customer. They are a partner who deeply understands our innovative approach and the potential it can deliver.”
“Having an agreement for multiple deployments is important to accelerate the commercialization of advanced nuclear energy by demonstrating the technical and market viability of a solution critical to decarbonizing power grids while delivering much-needed energy generation and capacity,” said Jeff Olson, Kairos Power Vice President, Business Development & Finance. “This early commitment from Google provides a strong customer demand signal, which reinforces Kairos Power’s continued investment in our iterative development approach and commercial production scale-up.”
Google’s deep commitment to decarbonization makes them a leader in clean energy development. Since 2010, the company has signed more than 115 agreements totaling over 14 GW of clean energy generation capacity. The additional generation that will be developed under this multi-plant agreement with Kairos Power will complement Google’s existing use of variable renewables, like solar and wind, and help them reach their ambitious 24/7 carbon-free energy and net zero goals.
“This landmark announcement will accelerate the transition to clean energy as Google and Kairos Power look to add 500 MW of new 24/7 carbon-free power to U.S. electricity grids,” said Michael Terrell, Google Senior Director of Energy and Climate. “This agreement is a key part of our effort to commercialize and scale the advanced energy technologies we need to reach our net zero and 24/7 carbon-free energy goals and ensure that more communities benefit from clean and affordable power in the future.”
Kairos Power applauds Google for its continued leadership as a first mover, helping to bring advanced reactor technology to market, as they have done with other clean energy technologies. Google’s commitment will catalyze new nuclear development, support U.S. decarbonization goals, and expand access to safe, clean, and affordable nuclear energy aligned with Kairos Power’s mission: 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.
Source: Google and Kairos Power Partner to Deploy 500 MW of Clean Electricity Generation - Kairos Power
