Elementl Power is a privately held advanced-nuclear project developer founded in 2022 and based in Greer, South Carolina. It describes itself as a technology-agnostic developer that manages the full project lifecycle: site selection, financing, licensing, construction, and commercial operation. The company also intends to own and operate completed plants as an independent power producer (IPP), selling output under long-term contracts.
Its place in the nuclear supply chain differs from the parties it works alongside. It is not a reactor vendor like GE Vernova Hitachi Nuclear Energy, NuScale Power, or X-energy, which design and license the reactors themselves. It is not a regulated utility that recovers costs through customer rates. Elementl is the developer that assembles the four pieces a new nuclear plant needs: a site, capital, a reactor technology, and a buyer for the power. Its stated value is doing the integration work that has slowed advanced nuclear in the United States, where projects routinely stall on siting, licensing, interconnection, or financing before construction begins.
Elementl is backed by Energy Impact Partners (EIP), an energy-focused technology investor, and Breakwater North, a nuclear and critical-infrastructure investment firm co-founded by several of Elementl's own founders. The company has not disclosed how much capital it has raised. EIP's reported $4B+ figure is the firm's own assets under management, not money committed to Elementl.
Elementl does not commit to a single reactor design at the company level. It plans to select the most mature, proven design available at the point each project reaches construction. The logic is risk reduction: advanced reactor designs sit at different stages of regulatory approval and first deployment, and a developer locked to one vendor inherits that vendor's licensing delays, supply constraints, and cost overruns. By keeping the choice open until a project is ready to build, Elementl can match each site to whatever design is furthest along at that moment. That flexibility narrows once a project commits. The Ohio project shows the limit: there, the company has selected the GE Vernova Hitachi BWRX-300.
Elementl describes using build-transfer and joint-development structures so partners can participate with reduced execution and capital exposure. Under these arrangements, Elementl carries early development work and can transfer a project to a long-term owner, or co-develop it with a partner who takes on a defined share. The company has not disclosed the unit economics: how revenue splits between development fees, retained equity, and power-sales margin is not public. The company calls the model capital-efficient. It has no operating projects yet to demonstrate returns.
Beyond developing projects for others, Elementl intends to own and operate plants itself as an independent power producer, earning revenue from selling electricity under long-term power purchase agreements (PPAs). This dual role lets it keep upside on projects it chooses to hold rather than transfer. As with the other structures, the balance between fee-based development income and owned-asset cash flow is not disclosed, and no plant has yet reached operation.
On May 7, 2025, Elementl and Google signed an agreement to develop three advanced-nuclear sites in the United States, each at least 600 megawatts (MW), for a combined minimum of roughly 1.8 gigawatts (GW). Google committed early-stage development capital to fund site permitting, grid interconnection rights, and contract negotiation, and it holds an option to purchase the power once the projects reach commercial operation.
Several terms are not public. The agreement does not disclose the dollar amount of Google's funding, the PPA price, the site locations, the reactor technology, or the commercial operation dates. The companies described the partnership as early-stage development work rather than firm construction commitments.
The deal sits within a broader move by large data-center operators to contract directly for 24/7 low-carbon baseload power. Microsoft and Constellation Energy agreed in 2024 to restart a unit at Three Mile Island under a long-term PPA. Amazon and Meta have separately signed nuclear supply agreements with other generators. Those deals are context for the demand environment Elementl is developing into. None of them involve Elementl.
Read the structure carefully. This is a development agreement with an option to buy, not 1.8 GW of contracted or built capacity. Google funds the early work and can walk away from offtake. The projects still have to clear siting, licensing, interconnection, and a final investment decision (FID) before any reactor is built.
On June 18, 2026, Elementl announced its most concrete development to date: a plant of up to 1.5 GW in Letart Township, Meigs County, in southeast Ohio. The site is a nearly 700-acre parcel along the Ohio River, about 100 miles southeast of Columbus, that Elementl has agreed to purchase from American Municipal Power (AMP), a nonprofit wholesale power supplier owned by member municipalities.
The project has a chosen reactor technology. Elementl signed an Early Works Agreement with GE Vernova Hitachi Nuclear Energy to deploy BWRX-300 small modular reactors (SMRs) at the site. The press release does not state a unit count. Trade reporting indicates roughly five BWRX-300 units would be needed to reach 1.5 GW.
Elementl has filed an interconnection request with PJM Interconnection (PJM) for the first 600 MW of output, with a response expected later in 2026. The company states the project is privately financed and will not be funded through electric customer rates. It still requires approval from the U.S. Nuclear Regulatory Commission (NRC) and the Ohio Power Siting Board. Elementl is targeting construction start around 2030 and completion of the first unit around 2034, both subject to a final investment decision the company has not yet made.
Two points on scope. The Ohio announcement does not mention Google, EIP, or the company's 10 GW and 100 GW targets. And no public source links the Ohio site to any of the three Google sites, so the two should not be treated as the same projects.
Elementl is led by Chairman and Chief Executive Officer Chris Colbert, who previously held the CFO, COO, and Chief Strategy Officer roles at NuScale Power, an SMR developer he helped take public, and earlier was a senior vice president at UniStar Nuclear Energy. He began his career as an engineer at GE Aircraft Engines.
The co-founders combine U.S. Navy nuclear backgrounds with energy-finance experience: Ryan Mills (Chief Strategy Officer and co-founder, former Goldman Sachs vice president, former Navy surface warfare officer); David Faherty (Chief Commercial Officer and co-founder, former Simmons Energy banker, former Navy submarine officer); and Dan Faherty (Chief Financial Officer and co-founder, former Jefferies and Goldman Sachs banker, former Navy submarine officer).
Mirela Gavrilas joined as Senior Vice President, Licensing and Regulatory Affairs, after a roughly two-decade career at the NRC, where she most recently served as Executive Director for Operations. The board includes two EIP figures, Sam Bursten and Shayle Kann, and Sheldon Kimber, founder and CEO of solar and storage developer Intersect Power.
Elementl's sequencing is to prove its development model on the Google sites and the Ohio project first, then scale toward its stated goal of more than 10 GW online in the United States by 2035. The thesis is straightforward: hyperscale data-center operators need round-the-clock zero-carbon baseload power, advanced nuclear can supply it, and the binding constraint has been finding a developer that can navigate siting, licensing, interconnection, and financing end to end. The company positions itself as filling that gap.
The 10 GW-by-2035 figure is a company goal, not contracted capacity. A larger figure of more than 100 GW by 2050 appears as a company aspiration on Elementl's own website and is not tied to any specific project pipeline. Against those targets, firm scope today consists of the roughly 1.8 GW optioned under the Google agreement and the up-to-1.5 GW Ohio project, which remains pre-FID.
The distance between aspiration and committed capacity is the central thing to understand about Elementl. The 10 GW and 100 GW figures are goals the company has set for itself. Capacity under any contract today is the roughly 1.8 GW of Google sites, which Google has an option but no obligation to buy from, plus the up-to-1.5 GW Ohio project, which has not reached a final investment decision. No Elementl plant is under construction, and none is operating.
The technology carries first-of-a-kind risk. The BWRX-300 is early in its global deployment, with first units still being built. New reactor designs have a history of cost and schedule overruns on their initial deployments, and Elementl's Ohio cost, schedule, and completion targets all sit ahead of a final investment decision it has not made. The project also depends on sequential approvals that remain open: NRC licensing, a position in the PJM interconnection queue, and Ohio Power Siting Board approval. Each is a gate that can delay or stop the project.
The company itself is the largest uncertainty. Elementl is a private, early-stage developer with no operating plants and no disclosed balance sheet, so its ability to finance and execute multi-billion-dollar nuclear projects is unproven. Its technology-agnostic premise narrows in practice once a vendor is locked. The Ohio project shows how: flexibility at the company level becomes a fixed BWRX-300 commitment at the project level, and that project is then exposed to GE Vernova Hitachi's licensing and supply timeline. Execution and financing are the core questions for a developer at this stage.
This profile was compiled from publicly available information including:
Elementl Power & Google strategic agreement — PR Newswire (May 7, 2025); corroborated by CNBC (May 7, 2025) and World Nuclear News.
Elementl Power developing utility-scale project in southeast Ohio — PR Newswire (June 18, 2026); Power Magazine and World Nuclear News Ohio coverage.
Elementl Power corporate website — company overview, business model, leadership and board (team page), and stated 2035 and 2050 targets.
Mirela Gavrilas appointment — PR Newswire (July 30, 2025).
This profile is for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security.