Nuclear company sets up Pittsburgh HQ
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The CEO of an Italian nuclear company that established its headquarters in Pittsburgh says the region is perfectly positioned to help expand nuclear energy use.
Why it matters: There's a race to build as much nuclear energy as fast as possible to feed the nation's growing energy demand.
Context: Terra Innovatum developed a microreactor called SOLO — capable of generating 1 megawatt of electricity — and CEO Alessandro Petruzzi says they can be placed anywhere because there's no risk of fallout thanks to the reactor's use of low-enriched uranium and its ability to shut down automatically.
What they're saying: Petruzzi said the company has been fine-tuning its microreactor plan for eight years and trying to find a place in the U.S. to anchor its sales operation for the last year.
- "We looked at proximity to national labs, federal agencies, manufacturing hubs, and nuclear talent pools. Pittsburgh won on every dimension that matters for execution."
Zoom in: Each SOLO generates enough electricity to power about 1,000 homes, and Petruzzi said they would also be able to power hospitals and small-scale — and less disruptive — data centers.
- Petruzzi says SOLO stands out compared to other microreactors since it is built from off-the-shelf components, making them highly scalable.
- The company constructs the microreactors in Italy and finishes them at a factory in Rock City, Illinois. They should be ready for sale by 2027, says Petruzzi.
Zoom out: Other companies are also pushing for nuclear microreactors, including Radiant Industries in Colorado, BWX Technologies in Virginia, and Westinghouse in Cranberry.
Between the lines: Terra Innovatum COO Cesare Frepoli is from Pittsburgh and previously worked at Westinghouse.
- Terra Innovatum chief business development officer Giordano Morichi says Pittsburgh's nuclear power knowledge and connections make it ideal for the company's U.S. headquarters. "There is a lot of nuclear talent here."
Follow the money: A SOLO costs $17.5 million and lasts 15 years without refueling, says Petruzzi.
- It can be refilled twice for a total life of 45 years.
- Over its 45 years, it will produce electricity costing 7 cents per kilowatt hour, says Petruzzi.
- The national average for electricity costs about 20 cents per kilowatt hour, according to Energy Sage.
- Morichi says the company expects to produce and sell 400 microreactors by 2030, with 200 already under agreement.
The bottom line: Petruzzi says Terra Innovatum came to Pittsburgh to prove that advanced nuclear can be deployed on an industrial scale." He believes "Pittsburgh is one of the best cities in America, positioned to make that happen at the speed the grid demands."