Kairos Power gets up to $100M from Samsung group to build nuclear reactor for Google
Future Google supplier Kairos Power inked a deal with Samsung C&T to help build its first 50 megawatt nuclear power plant.
Kairos Power has secured a potential investment of up to $100 million from Samsung C&T to construct a 50 megawatt demonstration nuclear reactor for Google. The deal, announced on Monday, includes an equity investment of $70 million and "in-kind" engineering services valued at $30 million. Samsung C&T, which has experience in building nuclear reactors globally, will contribute its expertise to the project.
Google approached Kairos in fall 2024, seeking the company to develop nuclear reactors capable of generating half a gigawatt of electricity by 2035. Currently, Kairos is building two reactors in Oak Ridge, Tennessee: Hermes 1, a low-power demonstrator, and Hermes 2, a commercial-scale reactor. Hermes 2 is expected to begin operation in 2030, in line with the original agreement with Google.
The startup received regulatory approval to build the reactors in November 2024. Hermes 2 will utilize a fluoride salt-cooled high-temperature reactor design and TRISO fuel, a novel nuclear fuel that aims to prevent meltdowns. With five years to build its first power plant, Kairos faces an accelerated timeline but sees it as manageable in the nuclear industry. The startup's progress will need to accelerate further to fulfill its commitment to Google.
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