Kairos Power To Expand New Mexico Operations Including A New Space At Los Alamos National Laboratory
EDD News:
ALBUQUERQUE — Kairos Power LLC, a mission-driven clean energy technology, engineering, and manufacturing company, is expanding its operations in New Mexico to build three facilities and create 100 jobs.
Kairos Power is headquartered in Alameda, Calif. and initially expanded to Albuquerque's Mesa del Sol community in 2019 for its research and development engineering center to support the commercialization of its advanced reactor technology.
The company also has locations in Oak Ridge, Tenn. and Charlotte, N.C.
Kairos Power plans to construct a salt production facility to produce high-purity molten salt coolant for advanced reactors at the company's Albuquerque campus alongside a TRISO Development Lab, where it will optimize fuel manufacturing techniques to be implemented in a new space the company is building at Los Alamos National Laboratory's Low-Enriched Fuel Fabrication Facility.
The salt coolant and TRISO fuel produced in these facilities will go into the Hermes demonstration reactor currently under construction in Tennessee. At no time will any special nuclear material be on-site at Kairos Power's Albuquerque facility.
The project will generate an estimated total economic impact of up to $4.2 billion to New Mexico over the next 10 years based on the state's analysis. The company plans to hire technicians, operators, fabricators, machinists, engineers, and more with an average salary of more than $100,000. Additionally, the company has a robust internship program that works with UNM and CNM to successfully convert interns into full-time employees.
"Kairos Power is pleased to continue growing our presence in New Mexico and contribute to the local ecosystem of clean energy innovation," Kairos Power CEO and co-founder Mike Laufer said. "The infrastructure and capabilities we are investing in here are critically important to our long-term commercial strategy and will enable the delivery of a safe, reliable, and affordable technology, starting with the Hermes demonstration reactor. We thank the City of Albuquerque and the State of New Mexico for their continued support as we work to bring value to the region while advancing our clean energy mission."
"The New Mexico Economic Development Department is proud to support this innovative company so that we can bring more high-wage jobs to the state. Additionally, this type of technology greatly reduces water consumption and is wonderful for arid regions looking for clean energy," NM Economic Development Department Secretary Rob Black said. "Since 2019, Kairos Power has invested in NM, and we're thrilled for their continued growth."
The New Mexico Economic Development Department has committed $3 million in Local Economic Development Act (LEDA) funding for the project. Kairos Power will also be eligible for New Mexico's High Wage Jobs Tax Credit and Manufacturing Investment Tax Credit. Additionally, the project will receive $1.8 million in Job Training Incentive Program (JTIP) funding to train 100 new employees, most of which are high-wage jobs.
"For decades we dreamed of Albuquerque being at the center of the renewable economy, that dream is more and more becoming reality," Mayor Tim Keller said. "We have the right workforce and the right location to be the home of the clean energy manufacturing, and Kairos brings more good-paying jobs for Albuquerque families."
"Kairos Power's expansion is a big win for Albuquerque," said City of Albuquerque Economic Development Director Max Gruner. "This project is a prime example of how public-private collaboration can fuel economic growth and innovation."
The City of Albuquerque Economic Development Department has committed $500,000 through its LEDA fund and will serve as the fiscal agent for the state's funding. Kairos Power has applied for an Industrial Revenue Bond (IRB), which will result in a company investment of more than $269 million in building and equipment purchases. All incentives are pending approval by the Albuquerque City Council.
