Wall Street Jedi
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Wall Street Jedi
No Result
View All Result
Home Investing

Amazon commits over $500 million to nuclear energy innovation

by
December 2, 2024
in Investing
0
Amazon commits over $500 million to nuclear energy innovation
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

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 aligns with the company’s Climate Pledge to achieve net-zero carbon emissions by 2040.

The e-commerce giant is venturing into nuclear power as a reliable and carbon-free energy source to meet its expansive energy requirements and support local communities. Amazon’s initial SMR project is in collaboration with Energy Northwest in Washington State, and a potential second project is being explored with Dominion Energy (NYSE:D) in Virginia. These reactors are designed to be more compact and can be constructed closer to power grids, offering quicker build times than traditional nuclear reactors.

In Pennsylvania, Amazon has partnered with Talen Energy to station a data center campus adjacent to the Susquehanna nuclear facility. This strategic move ensures the plant’s operational funding, which will help cover necessary repairs and relicensing fees without burdening local energy consumers. The project is also expected to yield economic benefits, including job creation and tax revenue.

Amazon’s investments are projected to generate significant employment opportunities. The Washington SMR project could create up to 1,000 construction jobs and over 100 permanent positions, while the Pennsylvania data center initiative is anticipated to foster construction employment and enhance local utility infrastructure.

Furthering its commitment to future nuclear technologies, Amazon has invested in X-energy, a developer of next-generation SMRs and fuel, through its Climate Pledge Fund. This funding is intended to support the development of over five gigawatts of new nuclear energy projects within the next 15 years.

The company is also engaging with utilities and government leaders to promote nuclear energy solutions. Collaborations in Washington State with Energy Northwest and in Virginia with Dominion Energy aim to address the increasing power demands in these regions.

Supporting research into the future of nuclear energy, Amazon Web Services (AWS) backed a study by the Clean Air Task Force (CATF) at COP29. The research highlights how AI can expedite the advancement of nuclear fusion as a new carbon-free energy source.

Amazon’s foray into nuclear energy reflects its willingness to explore new technologies and address the challenges associated with them. The company’s investment in nuclear energy is a strategic step towards fulfilling its Climate Pledge while contributing to a sustainable energy transition. This information is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
Previous Post

US retailers aim to cash in on Cyber Monday with steep online discounts

Next Post

Cloudflare, Tesla and Gap higher premarket; Stellantis lower after CEO departs

Next Post
Cloudflare, Tesla and Gap higher premarket; Stellantis lower after CEO departs

Cloudflare, Tesla and Gap higher premarket; Stellantis lower after CEO departs

  • Trending
  • Comments
  • Latest
American creating deepfakes targeting Harris works with Russian intel, documents show

American creating deepfakes targeting Harris works with Russian intel, documents show

October 23, 2024
Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers

Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers

October 28, 2024
Earnings call: Microsoft sees soaring cloud and AI growth in Q1 FY2025

Earnings call: Microsoft sees soaring cloud and AI growth in Q1 FY2025

October 31, 2024
Israel stocks lower at close of trade; TA 35 down 0.23%

Israel stocks lower at close of trade; TA 35 down 0.23%

October 6, 2024
Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

0
Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike

Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike

0
PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

0
East and Gulf coast ports shut down as thousands of workers go on strike

East and Gulf coast ports shut down as thousands of workers go on strike

0
Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

July 4, 2025
Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

July 3, 2025
Microsoft laying off about 9,000 employees in latest round of cuts

Microsoft laying off about 9,000 employees in latest round of cuts

July 3, 2025
Apple sues former Vision Pro employee for allegedly stealing ‘thousands of documents’ before joining Snap

Apple sues former Vision Pro employee for allegedly stealing ‘thousands of documents’ before joining Snap

July 2, 2025

Recent News

Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

July 4, 2025
Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

July 3, 2025
Microsoft laying off about 9,000 employees in latest round of cuts

Microsoft laying off about 9,000 employees in latest round of cuts

July 3, 2025
Apple sues former Vision Pro employee for allegedly stealing ‘thousands of documents’ before joining Snap

Apple sues former Vision Pro employee for allegedly stealing ‘thousands of documents’ before joining Snap

July 2, 2025

Disclaimer: WallStreetJedi.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.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 wallstreetjedi.com | All Rights Reserved

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 wallstreetjedi.com | All Rights Reserved