Tennessee is set to become a pivotal player in the future of nuclear energy, following a significant announcement by Governor Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter, and officials from Type One Energy Group, Inc. The company has unveiled plans to invest $223.5 million to set up its headquarters and expand its research and development (R&D) operations within the state.
This strategic move will see Type One Energy creating 330 new jobs by situating its headquarters in the Greater Knoxville area and bolstering fusion R&D efforts in Clinton. The company is poised to leverage the facilities at the Tennessee Valley Authority’s Bull Run Fossil Plant in Clinton for its stellarator fusion prototype machine, Infinity One. The commencement of construction is pending the completion of necessary environmental reviews, partnership agreements, permits, and operating licenses.
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As the inaugural beneficiary of funding through Tennessee’s $50 million Nuclear Energy Fund, Type One Energy is at the forefront of the state’s nuclear energy initiative. The fund, a brainchild of Governor Bill Lee and sanctioned by the Tennessee General Assembly in the 2023-2024 budget, aims to support the state’s nuclear development and manufacturing ecosystem. It encourages nuclear power-related businesses to either relocate to or expand within Tennessee.
The establishment of Type One Energy’s headquarters and expansion of its operations in Tennessee marks a significant milestone in the state’s effort to become a leader in energy independence. Governor Lee expressed pride in this partnership, highlighting it as a step towards securing Tennessee’s position as the premier state for energy independence, bringing high-quality jobs and more reliable energy to its residents.
Commissioner McWhorter lauded the project for strengthening Tennessee’s R&D footprint and further developing its nuclear sector, made possible by the foresight of the state’s leadership in creating the Nuclear Energy Fund. Chris Mowry, CEO of Type One Energy, emphasized the importance of the partnership with TVA and ORNL, and the state’s support through the Nuclear Energy Fund, in making this project possible.
Local leaders and economic development officials have also expressed excitement and gratitude for the project’s potential to repurpose the Bull Run Fossil Plant site, enhance the region’s technological innovation hub, and contribute to national energy independence through nuclear energy. This project is not only a testament to Tennessee’s growing economic and technological prowess but also to its commitment to sustainable and reliable energy solutions for the future.
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