Google has agreed to fund at least three new nuclear power projects with Elementl Power, a South Carolina-based nuclear project developer, as the tech giant moves to secure reliable, carbon-free energy to power its expanding network of data centers.
The deal, announced by the Alphabet Inc (NASDAQ:GOOG) company on Wednesday, marks the latest push by a major technology company to tap advanced nuclear power in support of artificial intelligence (AI) infrastructure, which is increasingly energy-intensive.
Each project is expected to have a generation capacity of 600 megawatts, and will contribute to Elementl’s goal of bringing more than 10 gigawatts of nuclear capacity online by 2035.
Exact financial terms of the agreement were not disclosed, nor were the locations of the proposed plants.
Elementl said Google's investment will help fund site permitting, interconnection rights, and other early-stage development activities.
The announcement shows how energy companies and tech giants are increasingly teaming up as they look for ways to hit climate goals and keep up with the soaring energy demands of AI.
"Innovative partnerships like this are necessary to mobilize the capital required to build new nuclear projects," said Chris Colbert, Elementl Power's CEO.
Elementl, founded in 2022, has not yet built any nuclear facilities and has not committed to a specific reactor design. The company said it will select a technology that is furthest along in development when it is ready to begin construction.
The deal adds to Google’s growing interest in small modular reactors (SMRs) as a potential energy source. Last year, the company announced a partnership with SMR developer Kairos Power, with plans to procure energy from its reactors, including a first project slated to come online by 2030.
"Google is committed to catalyzing projects that strengthen the power grids where we operate, and advanced nuclear technology provides reliable, baseload, 24/7 energy," said Amanda Peterson Corio, global head of data center energy at Google.
The deal also gives Google an option to purchase electricity from the projects once they are operational.