Amazon Invests Over $500 Million in Nuclear Energy Innovation
SEATTLE - Amazon (NASDAQ:AMZN) Inc. has announced a series of investments exceeding $500 million aimed at advancing nuclear energy technologies, including the development of Small Modular Reactors (SMRs) and the maintenance of existing nuclear power facilities. This move is in line with the company's Climate Pledge to achieve net-zero carbon emissions by 2040.
The e-commerce giant is turning to nuclear energy as a reliable and carbon-free energy source to meet its extensive energy needs and support local communities. Amazon's first SMR project is being conducted in partnership with Energy Northwest in Washington State, with a potential second project being explored with Dominion Energy in Virginia. These reactors are designed to be more compact and can be built faster than traditional nuclear reactors, allowing them to be located closer to energy grids.
In Pennsylvania, Amazon has partnered with Talen Energy to establish a data center campus adjacent to the Susquehanna nuclear facility. This strategic move is expected to help fund necessary repairs and licensing fees without burdening local energy consumers, while also providing operational financing for the facility. The project is also anticipated to generate economic benefits, including job creation and tax revenue.
Amazon's investments are projected to create significant employment opportunities. The Washington SMR project could generate up to 1,000 construction jobs and over 100 permanent positions, while the Pennsylvania data center initiative is expected to create construction employment and improve local infrastructure.
Reinforcing its commitment to future nuclear technologies, Amazon has invested in X-energy, which develops next-generation SMRs and fuels, through the Climate Pledge Fund. This funding aims to support the development of over 5 gigawatts of new nuclear energy projects within the next 15 years.
The company is also collaborating with utility providers and government leaders to promote nuclear energy solutions. The partnerships with Energy Northwest in Washington State and Dominion Energy in Virginia target meeting the rising energy demand in these regions.
Supporting research into the future of nuclear energy, Amazon Web Services (AWS) has backed a study conducted by the Clean Air Task Force (CATF) at COP29. The research highlights how artificial intelligence could accelerate the development of nuclear fusion as a new carbon-free energy source.
Amazon's entry into nuclear energy reflects its willingness to explore new technologies and address associated challenges. The company's investments in nuclear energy represent a strategic step toward fulfilling its Climate Pledge while contributing to a sustainable energy transition.