What Elementl Power does

Elementl Power is an advanced nuclear project developer that takes next-generation nuclear power plants from site identification through licensing, financing, construction oversight, and long-term asset ownership. The company is technology-agnostic and has selected the GE Vernova Hitachi BWRX-300 small modular reactor (a 300 MW boiling water reactor design with passive safety systems) for its flagship Meigs County, Ohio project, with an Early Works Agreement in place. A proprietary data-driven siting framework co-developed with Oak Ridge National Laboratory is used to evaluate sites on grid stability, cooling access, permitting pathways, workforce availability, and infrastructure readiness. The company targets utility-scale baseload generation to serve hyperscale data centers, utilities, large energy buyers, and host communities, with announced projects including three Google-backed sites (each ≥600 MW), the up-to-1.5 GW Meigs County project (first 600 MW PJM interconnection filed), and a partnership with the Tennessee Valley Authority at the Clinch River Nuclear site supported by $400 million in DOE funding.

The business model combines development fees, project structuring fees, and long-term asset ownership, with capital-efficient build-transfer and joint-development structures designed to reduce partner capital and execution exposure. Revenue mechanics today are anchored on early-stage development capital from hyperscalers (notably Google) and partnerships with utilities (TVA, AMP) and large industrial energy buyers; long-term economics will be driven by power purchase agreements and asset ownership once projects reach commercial operation. Go-to-market is enterprise field sales targeting a small set of hyperscalers, regulated utilities, and large energy buyers rather than a distributed or volume-based motion.

The company was founded in 2023 by U.S. Navy nuclear engineers and energy finance professionals (Ryan Mills, David Faherty, Dan Faherty), is led by CEO Chris Colbert (former NuScale Power CFO/COO/CSO), and is backed by Energy Impact Partners. The team includes former NRC Executive Director for Operations Dr. Mirela Gavrilas as SVP Licensing and Regulatory Affairs, multiple executives with NuScale, TVA, Goldman Sachs, Jefferies, and Latham & Watkins pedigrees, and is credited with $65B+ in energy transactions, 40 GW of nuclear project experience, and 125 years of combined nuclear licensing experience.

Name

Elementl Power

Legal name

Elementl Power Inc.

Website

https://elementlpower.io/

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Elementl Power is an energy company that specializes in nuclear development services with a focus on clean energy infrastructure.

Ownership category

akta.pro rank

Product category

Advanced Nuclear Power Development

NAICS

Nuclear Electric Power Generation (221113)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Project & Program Management (PMO), Controls & Reporting (EUAKAAAC)

akta.pro secondary industries

Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB)

Keywords

• Nuclear project development
• Advanced nuclear energy
• Small modular reactor
• Clean energy infrastructure
• Baseload power generation

Headquarters

HQ city

Annapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Project Development Services: Elementl develops, finances, and delivers next-generation nuclear power projects, taking responsibility for the most complex phases including siting, licensing, financing, construction oversight, and commercial operation. Revenue is generated through development fees, project structuring fees, and long-term asset ownership.
2. Power Purchase Agreements (PPAs): Long-term power purchase agreements with hyperscalers (e.g., Google) and utilities for clean, reliable baseload electricity. Each site expected to generate at least 600 MW with options for commercial offtake upon completion.
3. Early-Stage Development Capital from Partners: Hyperscalers like Google provide early-stage development capital to accelerate site readiness, which reduces Elementl's capital burden during initial project phases.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Elementl Power is an advanced nuclear project developer that develops, finances, and delivers next-generation nuclear power plants. The company provides end-to-end project development services encompassing site identification and feasibility analysis, technology-agnostic reactor selection (including GE Vernova Hitachi BWRX-300 SMRs), project financing and capital structuring, regulatory strategy and NRC licensing execution, EPC coordination, and long-term asset ownership. Projects deliver 600 MW to 1.5 GW of clean baseload electricity for hyperscale data centers, utilities, and large energy buyers.

Product overview

Elementl Power is an advanced nuclear project developer offering a comprehensive platform for next-generation nuclear power plant development and delivery. The company's offerings span the full development lifecycle: turnkey site identification and feasibility analysis, technology-agnostic reactor selection (including GE Vernova Hitachi's BWRX-300 small modular reactor), project financing and capital structuring, regulatory strategy and licensing execution with federal and state agencies, EPC coordination and construction oversight, and long-term asset ownership. Elementl serves multiple customer segments—data centers (particularly hyperscalers like Google requiring 600+ MW per site), utilities (through build-transfer and joint-development structures), large energy buyers seeking 24/7 baseload power, and host communities. The company leverages a proprietary data-driven siting framework developed with Oak Ridge National Laboratory and structures projects for capital efficiency, enabling partners to participate with reduced execution and capital exposure.

Differentiator

Problem solved

Functional benefit

Products and services

• Nuclear Power Plant Development Services Full lifecycle development of next-generation nuclear power plants, encompassing site identification, screening, feasibility analysis, technology evaluation and selection, financing, regulatory licensing, construction oversight, and long-term asset ownership. Delivered for utilities, hyperscalers, and large energy buyers.
• Data Center Power Solutions Advanced nuclear project development providing stable, carbon-free baseload energy for hyperscale data center campuses, with strategic site selection optimized for large-load facilities and flexible ownership options including commercial offtake upon completion. Targets hyperscale operators needing 600+ MW per site of 24/7 carbon-free power.
• Utility Partnership Services Build-transfer and joint-development structures enabling utilities to participate in advanced nuclear projects while maintaining balance-sheet discipline, fiduciary oversight, and governance requirements. Includes development services and execution planning tailored for utility participation in advanced nuclear capacity additions.
• Large Energy Buyer Solutions Long-term domestic baseload power solutions enabling large industrial and commercial energy consumers to secure energy abundance, reduce exposure to supply constraints and price volatility, and obtain 24/7 carbon-free electricity at scale.
• Regulatory Strategy and Licensing Services Nuclear licensing and permitting execution across federal (NRC), state, and local frameworks, including environmental assessment, construction permits, and safety evaluations for advanced reactor technologies. Provided to project partners and internal project teams.
• Meigs County Ohio Nuclear Project Flagship utility-scale advanced nuclear power project located on a nearly 700-acre site along the Ohio River in Letart Township, Meigs County, Ohio. Will deploy GE Vernova Hitachi BWRX-300 small modular reactors with up to 1.5 GW total capacity; first 600 MW to be connected via PJM Interconnection. Funded entirely through private capital.

Quantifiable outcome

• Targeting 100+ GW of new clean electricity in the U.S. by 2050
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered flagship, core and key.

• GoogleflagshipStrategic or Co-development Partner · 7 May 2025Elementl entered into a strategic partnership with Google in 2025 to advance three next-generation nuclear project sites. Each site is expected to generate at least 600 MW of clean, firm baseload power. Google's early-stage capital commitment enables Elementl to mobilize institutional financing and accelerate full-scale deployment, establishing a new model for public-private collaboration.
• GE Vernova Hitachi Nuclear EnergycoreTechnology or IntegrationElementl has signed an Early Works Agreement with GE Vernova Hitachi Nuclear Energy to utilize the BWRX-300 small modular reactor (SMR) technology for the Meigs County project. The BWRX-300 uses proven boiling water reactor experience with passive safety systems and simpler design relying on natural circulation.
• American Municipal PowercoreStrategic or Co-development PartnerElementl has an agreement with American Municipal Power (AMP) to purchase the approximately 700-acre site in Letart Township, Meigs County, Ohio. The site is located along the Ohio River approximately 100 miles southeast of Columbus.
• Tennessee Valley AuthoritycoreStrategic or Co-development PartnerElementl is part of TVA's initiative to advance nuclear energy in the southeastern United States. TVA was selected for DOE funding to advance deployment of a GE Vernova Hitachi BWRX-300 reactor at the Clinch River Nuclear site in Tennessee with Elementl as a partner.
• Oak Ridge National LaboratorykeyStrategic or Co-development PartnerElementl partnered with DOE's Oak Ridge National Laboratory to develop a proprietary, data-driven siting framework that quickly evaluates potential nuclear project locations across the U.S. The framework considers grid stability, cooling access, permitting pathways, workforce availability, and infrastructure readiness.
• PJM InterconnectionkeyStrategic or Co-development PartnerElementl filed a transmission interconnection request with PJM Interconnection in April 2026 for the first 600 MW of the Meigs County project's potential output to connect to the regional transmission network.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• TerraPower: Bill Gates-backed advanced nuclear project developer building the Natrium sodium-cooled fast reactor. Directly comparable as a next-generation nuclear developer pursuing hyperscaler and utility offtake for grid-scale advanced reactor projects.
• X-energy: Developer of the Xe-100 high-temperature gas-cooled SMR with anchor commercial partnerships (e.g., Dow) and DOE Advanced Reactor Demonstration Program funding. Competes with Elementl in the same advanced reactor project development space targeting industrial and hyperscaler customers.
• Kairos Power: Fluoride salt-cooled high-temperature reactor developer with active NRC licensing interactions and a test reactor (Hermes) under construction in Oak Ridge. Comparable as a venture-backed advanced nuclear developer pursuing similar hyperscaler/utility customers and DOE demonstration pathways.
• Last Energy: Microreactor project developer pursuing private-financed, behind-the-meter nuclear projects for industrial and data center customers in Europe and the U.S. Comparable to Elementl as a smaller-scale nuclear developer using a project-financed, capital-efficient development model for non-utility offtake.
• NuScale Power: Designer of the VOYGR small modular reactor (SMR) and Elementl CEO Chris Colbert's former employer. Pursues utility and data center offtake for its light-water SMR technology and competes with Elementl for advanced reactor project development mandates.

Broad incumbents

• Westinghouse Electric Company: Established large nuclear technology company offering AP1000 large reactors and the eVinci microreactor. Overlaps with Elementl in advanced reactor project development but operates a much broader nuclear portfolio spanning fuel, services, and new build.
• BWX Technologies (BWXT): U.S. nuclear components manufacturer and developer of the BWXT Advanced Microreactor. A broader incumbent that overlaps with Elementl on advanced reactor project development while also supplying naval nuclear propulsion components.
• GE Vernova Hitachi Nuclear Energy: Designer of the BWRX-300 SMR — Elementl's chosen reactor technology — and a joint venture between GE Vernova and Hitachi. Functions both as Elementl's technology partner and a broader incumbent nuclear OEM competing for similar advanced reactor project mandates.
• Holtec International: Developer of the SMR-160 small modular reactor and a major player in used nuclear fuel and decommissioning. Comparable to Elementl as a nuclear technology and project development company pursuing utility and industrial customers for advanced reactor deployment.

Emerging players

• Ultra Safe Nuclear Corporation: Developer of Micro-Modular Reactor (MMR) and high-temperature gas-cooled reactor technologies for remote and industrial applications. An emerging player with partial overlap to Elementl's advanced reactor development focus, particularly for distributed industrial and data center customers.

Market position

Strengths5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ElementlPower
• LinkedInlinkedin.com/company/elementl-power

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elementl Power