Elementl Power Signs Preliminary $750 Million Nuclear Development Deal with South Korean Consortium

U.S. nuclear developer Elementl Power has signed a preliminary agreement worth up to $750 million with a consortium led by South Korea's DS Investment Partners to finance pre-construction work on as many as three advanced nuclear projects, the company announced Monday. Samsung C&T's Engineering & Construction Group is participating as a potential strategic investor. The consortium would contribute part of the anticipated funding in exchange for a significant minority ownership stake, with additional investors possible. Macquarie Capital serves as financial adviser. The projects include Elementl's planned 1.5-gigawatt facility in Meigs County, Ohio, along the Ohio River, using GE Vernova Hitachi's BWRX-300 small modular reactor technology. Elementl previously filed an interconnection request with PJM Interconnection for the first 600 megawatts. The agreement remains preliminary and does not constitute a final investment decision. Completion is subject to definitive agreements, regulatory approvals and closing conditions. Elementl signed a separate agreement with Google in May 2025 covering three potential U.S. nuclear sites.