Elementl Power announced a preliminary agreement on October 26, 2026, for a proposed nuclear-development partnership of up to $750 million with a consortium led by South Korea’s DS Investment Partners (DSIP). Samsung C&T is participating as a potential strategic investor. The announcement concerns early-stage financing, not a completed investment or an approved nuclear plant.

Key Takeaways

• The proposed partnership is valued at up to $750 million, but its financing has not been finalized.
• The funding could help advance as many as three U.S. nuclear projects toward final investment decisions.
• One identified project is Elementl’s proposed 1.5 GW small modular reactor development in southeastern Ohio.

What the Agreement Actually Funds

According to Elementl’s October 26 announcement, the parties signed a letter of intent and term sheet. The DSIP-led consortium would supply part of the proposed capital and take a significant minority stake. Elementl has asked Macquarie Capital to evaluate additional strategic and financial investors.

The money would support work before construction, including permitting, grid interconnection studies and procurement of equipment with long lead times. Such steps are important because a proposed gigawatt-scale plant cannot supply the grid until financing, licensing and physical construction are complete.

Ohio Project Could Reach 1.5 GW

One potential beneficiary is Elementl’s Meigs County, Ohio, project, planned around GE Vernova Hitachi’s BWRX-300 small modular reactors. The developer announced capacity of up to 1,500 MW and a request to connect the initial 600 MW to PJM’s transmission system. It targets the first construction start in 2030 and completion in 2034, conditional on approvals and a final investment decision.

Why Google and Data Centers Matter

In a separate May 2025 agreement, Google committed early development capital for three prospective Elementl nuclear sites, each targeting at least 600 MW. The companies have not established that the three sites in this new financing proposal are identical to Google’s three prospects.

BitcoinVersus.Tech previously covered Google’s earlier Elementl partnership, explored whether SMRs are commercially available, and reported on AEP and X-energy’s Indiana plans. These efforts reflect demand for reliable electricity, especially from large computing facilities.

The central distinction is development funding versus operating power. Elementl says the proposed partnership still needs definitive agreements, regulatory approvals and customary closing conditions. No final investment decision has been made for these projects.

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