Kairos Power Raises $643 Million for Tennessee Reactor, Bloomberg Reports

3-line summary

• Next-gen nuclear developer Kairos Power raised $643 million — $368 million in private investment plus $275 million in US Department of Energy financing — per Bloomberg. Investors included Google Ventures and DCVC, with Samsung C&T contributing $70 million as part of a partnership announced last month.
• Most of the funds will build Hermes 2, a 50-megawatt demonstration reactor in Tennessee using molten salt instead of water as coolant, targeted to start operating by 2030; some funds will expand manufacturing capacity at a New Mexico site. Kairos signed a power-purchase deal with the Tennessee Valley Authority last year to supply an Alphabet (Google)-owned data center, and is among the few companies with federal approval to build new nuclear systems.

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