Meta Seals Nuclear Agreements with TerraPower and Oklo, Marking Industry Shift
Chris Levesque, the CEO of TerraPower, has witnessed a significant evolution in the nuclear industry over the past decade. Once dominated by traditional practices and slow advancements, the sector is now on the brink of a transformative phase. With the convergence of new small modular reactors (SMRs) and increasing energy demands from technology giants, the landscape of nuclear energy is shifting.
Meta Partners with TerraPower and Oklo for Nuclear Projects
In January, Meta, the tech conglomerate led by Mark Zuckerberg, announced a collaboration with TerraPower and Oklo. The partnership aims to develop approximately 4 gigawatts of combined SMR capacity. This initiative is projected to power nearly 3 million homes, aligning with Meta’s plans to support its Prometheus AI mega campus in Ohio.
A New Era for Nuclear Energy
The U.S. nuclear industry has seen minimal expansion in recent decades, primarily due to safety concerns and financial overruns. The Vogtle project in Georgia, for example, faced a 15-year delay and costs exceeding $35 billion. However, the shift towards SMRs, which can be built in about three years, promises greater flexibility and lower costs. These smaller reactors can be deployed incrementally, addressing the rising energy needs from major data centers.
Analysts Expect More Big Tech Involvement
Industry observers, such as Dan Ives from Wedbush Securities, believe Meta’s initiative signals the beginning of broader involvement from technology companies in nuclear energy. Analysts anticipate that by 2026, many major tech firms will pursue partnerships or direct investments in nuclear projects.
Addressing Rising Energy Demands
- Electricity demand in the U.S. is projected to surge by 50-80% between 2023 and 2050.
- Natural gas currently provides over 40% of the U.S. power grid, but prices are rising.
- Nuclear power, contributing less than 20% of the grid, is emerging as a cleaner alternative.
TerraPower’s Initiatives
TerraPower is actively working on its first SMR plant, the Kemmerer Power Station in Wyoming, with plans to generate 345 megawatts by 2030. Meta’s agreement includes the option for additional modular reactors, potentially supporting operations with a total output of 2.8 gigawatts.
Oklo’s Construction Plans
Founded in 2013 by Jacob and Caroline DeWitte, Oklo is set to begin constructing its initial nuclear reactors in Ohio this year. The project aims for operation by 2030, scaling up to 1.2 gigawatts by 2034.
Innovations in Nuclear Technology
- TerraPower and Oklo are using sodium-cooled reactors, reducing costs and improving efficiency.
- Oklo is developing a $1.7 billion nuclear fuel recycling facility in Tennessee, expected to commence operations by 2030.
Nuclear innovations such as liquid metal cooling systems improve safety and reduce overall costs associated with construction and materials. The combination of new technologies and a renewed focus on clean energy could herald a new age for nuclear power in the U.S.
Concerns and Regulatory Changes
Although the push towards nuclear energy expansion has garnered support, it has not been without criticisms. Some experts express concerns over safety regulations being softened to favor rapid development. The U.S. government aims to increase nuclear capacity from about 100 gigawatts to 400 gigawatts by 2050.
Despite challenges, other companies are also advancing their nuclear projects. Companies like Antares Nuclear and Natura Resources are developing new reactors, alongside significant investments from major tech firms.
The potential revival of the nuclear industry demonstrates a transformative approach to energy solutions, driven by innovation and the pressing need for sustainable power sources. With giants like Meta, TerraPower, and Oklo leading the charge, the nuclear renaissance is both timely and essential as the energy landscape continues to evolve.
