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(Bloomberg) — Fission startup First American Nuclear Co. is developing a power plant, first using natural gas and then shifting to a reactor expected to run on fuel produced from its own nuclear waste.
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The Indiana-based company expects to start delivering electricity in 2028 using gas, and then deploy its liquid-metal fast reactor by 2032, according to Chief Executive Officer Mike Reinboth. The facility will include a system to reprocess and reuse spent fuel, minimizing the deadly waste produced by reactors, First American said in a statement Tuesday.
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The company is looking to feed power to data centers, which have spawned massive demand for electricity to run artificial intelligence systems. Nuclear energy has gained popularity as a method to provide that electricity, though the industry is unlikely to deliver any new reactors for years.
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First American says its gas-first model means it can start supplying electricity within the next few years while it pursues regulatory approval for its reactor. Other companies are pursuing a similar strategy, and Reinboth said he’s talking to potential data center customers.
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The company is evaluating several sites in Indiana, where the goal is to eventually install six of the systems for about $4.2 billion. Together, the reactors would generate enough energy to power 1.5 million homes.
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“Data centers are driving the demand for power,” he said.
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First American is designing a 240-megawatt liquid metal reactor that uses lead bismuth as a coolant. It’s the only company using this technology in the US, though it’s been used in Russian submarines for years.
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The reprocessing system will be able to convert spent uranium from the plant into new fuel, making the plants cheaper to operate and eliminating the challenge posed by the toxic waste created by conventional reactors.
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“The waste actually gives you energy,” said Bill Stokes, the company’s founder and president.
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