Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Flashback: Top five wildest moments from Elon Musk’s...
Less than half of DOGE-terminated contracts can be...
Jill Biden should have to answer for ‘cover...
DOGE staffing shakeup as Elon Musk hangs up...
State Dept says DOGE’s changes will be permanent...
President Trump teases ‘last day, but not really’...
Trump denounces court’s ‘political’ tariff decision, calls on...
I’m a physician and I’m worried that our...
Inside the late-night drama that led to Trump’s...
Alleged attempt to impersonate White House chief of...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Amazon Eyes Nuclear Energy Future with Two New SMR Project Partnerships

by admin October 18, 2024
October 18, 2024
Amazon Eyes Nuclear Energy Future with Two New SMR Project Partnerships

Amazon Web Services (AWS), a subsidiary of Amazon (NASDAQ:AMZN), is betting big on nuclear power as it partners with Dominion Energy (NYSE:D) and Energy Northwest to meet its data centers’ energy needs.

The agreements with Dominion and Energy Northwest, valued over US$500 million, are aimed at developing advanced small modular reactors (SMRs), a flexible and scalable form of nuclear technology, across various regions.

The move addresses increasing power demand driven by artificial intelligence and cloud computing, as well as the company’s commitment to achieving net-zero carbon emissions by 2040.

In Virginia, AWS is partnering with Dominion to explore the development of an SMR near Dominion’s North Anna nuclear power station. The collaboration is expected to bring at least 300 megawatts of power to the Virginia area, where Dominion is projecting an 85 percent increase in power demand over the next decade and a half.

In Washington, AWS is forging ties with Energy Northwest to fund the development and construction of four SMRs. The projects will use technology developed by X-energy, a leader in SMR design and nuclear fuel production.

Once operational, these reactors are expected to generate approximately 320 megawatts in the initial phase, with the potential to expand to 960 megawatts — enough to power over 770,000 homes.

Amazon will have the option to purchase power from these SMRs to support its operations in the Pacific Northwest.

AWS’ two investments form only part of its broader strategy to transition to sustainable energy sources.

In addition to its projects in Virginia and Washington, AWS has entered into an agreement with Talen Energy to purchase nuclear power from the Susquehanna Steam Electric Station in Pennsylvania.

“One of the fastest ways to address climate change is by transitioning our society to carbon-free energy sources, and nuclear energy is both carbon-free and able to scale — which is why it’s an important area of investment for Amazon,” AWS CEO Matthew Garman said in a Wednesday (October 16) press release. “Our agreements will encourage the construction of new nuclear technologies that will generate energy for decades to come.”

The development of SMRs is also expected to provide an economic boost to the regions involved.

Both the Washington and Pennsylvania SMRs are expected to generate a combined 1,000 temporary jobs during the building phase and another 1,000 permanent jobs once operations commence.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Kincora Copper Expands Fleet Space Partnership for Exploration at Wongarbon Project
next post
‘Rot and decay’: Rep Hank Johnson argues SCOTUS term limits are path forward for removing ‘corrupt’ justices

You may also like

Strong Momentum Continuing at Flicka Lake Gold and...

December 2, 2024

Scoping Study Fieldwork Testing Complete

March 5, 2025

More High-grade Drill Results at Alta Mesa Uranium...

October 16, 2024

Riverside Resources Provides Updates on H1 2025 Exploration...

February 27, 2025

Investing in Graphene Companies

January 8, 2025

BHP and Toyota Australia to Test Electric HiLux...

November 2, 2024

Pilot Plant Downstream Process Produces Lithium Carbonate with...

January 14, 2025

Top 5 Canadian Mining Stocks This Week: American...

October 12, 2024

Presenting on Emerging Growth Conference 81 Day 1...

April 15, 2025

Forum Drilling Extends Uranium Mineralization at the Tatiggaq...

November 26, 2024

Recent Posts

  • Flashback: Top five wildest moments from Elon Musk’s DOGE tenure as it comes to an end
  • Less than half of DOGE-terminated contracts can be publicly tracked, only about a quarter of grants: watchdog
  • Jill Biden should have to answer for ‘cover up’ of former president’s decline, White House says
  • DOGE staffing shakeup as Elon Musk hangs up his hat, White House confirms
  • State Dept says DOGE’s changes will be permanent amid Musk’s departure

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (751)
    • Investing (2,211)
    • Politics (2,729)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.