U.S. nuclear developer Elementl Power has signed a preliminary agreement to establish a development partnership worth up to $750 million with a consortium led by South Korea’s DS Investment Partners, as the company seeks to accelerate the construction of new nuclear power capacity in the United States.

Samsung C&T’s Engineering & Construction Group is participating as a potential strategic investor, bringing international nuclear construction expertise to the proposed partnership.

The agreement, announced Monday, outlines plans to finance pre-construction activities for as many as three advanced nuclear projects, including regulatory permitting, grid interconnection and procurement of equipment with long manufacturing lead times.

The South Korean-led consortium would contribute part of the partnership’s anticipated funding in exchange for a significant minority ownership stake. Additional financial and strategic investors could also participate.

One of the projects covered by the proposed partnership is Elementl’s planned 1.5-gigawatt nuclear power facility in southeastern Ohio, which will use GE Vernova Hitachi Nuclear Energy’s BWRX-300 small modular reactor technology.

The project, announced in June 2026, is being developed in Meigs County along the Ohio River. Elementl previously submitted an interconnection request to PJM Interconnection for the first 600 megawatts of the proposed facility’s capacity.

The Ohio development forms part of a broader effort to deploy advanced nuclear reactors to meet rising U.S. electricity consumption, particularly as artificial intelligence infrastructure and data centers drive demand for reliable round-the-clock power.

Elementl has already attracted interest from major technology companies. In May 2025, the developer signed an agreement with Google to advance three potential U.S. nuclear sites, each targeting at least 600 megawatts of generating capacity. Google agreed to provide early-stage development capital under that arrangement.

The proposed South Korean partnership represents another step in Elementl’s strategy of securing development financing before projects reach final investment decision, when substantially larger construction funding commitments would be required.

Samsung C&T could also provide access to established nuclear engineering and construction capabilities. The South Korean company has participated in major international nuclear developments, including the 5.6-gigawatt Barakah Nuclear Power Plant in the United Arab Emirates.

Elementl CEO Chris Colbert said the proposed partnership would strengthen the company’s access to development capital while creating opportunities to draw on South Korea’s nuclear supply chain and engineering expertise.

Elementl has appointed Macquarie Capital as financial adviser to explore participation by additional institutional and strategic investors.

The agreement remains preliminary and does not represent a final investment decision for any of the planned nuclear projects. Completion is subject to definitive agreements, regulatory approvals and other closing conditions.

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