Elementl Power announced Oct. 26 that it signed a preliminary agreement with a consortium led by DS Investment Partners for proposed funding of up to $750 million to develop advanced nuclear projects in the United States. Samsung C&T Engineering & Construction Group is participating as a potential strategic investor. The proposed partnership would support as many as three Elementl nuclear projects through activities needed before a final investment decision, including permitting, grid interconnection and procurement of long-lead equipment.
What it means
The agreement includes Elementl’s 1.5-gigawatt Ohio project, which is being developed around GE Vernova Hitachi Nuclear Energy’s BWRX-300 small modular reactor technology. Elementl said the proposed funding is intended to move projects toward final investment decisions.
The parties have not made a final investment decision for any project. The agreement requires definitive documents, regulatory approvals and customary closing conditions before completion.
Key facts
- The proposed partnership has a maximum funding level of $750 million.
- Elementl Power and a DS Investment Partners-led consortium signed a preliminary agreement on Oct. 26, 2026.
- Samsung C&T Engineering & Construction Group is a potential strategic investor.
- Funding could support up to three advanced nuclear projects toward final investment decision.
- Elementl’s Ohio project has planned capacity of 1.5 gigawatts.
- The Ohio project is planned to use GE Vernova Hitachi Nuclear Energy BWRX-300 reactors.
- Elementl engaged Macquarie Capital as financial adviser.
Source: Elementl Power news release (PR Newswire)