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General Matter provides domestic uranium enrichment services to power plants and government entities, producing LEU and HALEU for nuclear reactors. It handles the full fuel cycle—from uranium extraction through conversion and enrichment—to deliver fuel that supports energy production and national energy security. The company differentiates itself with a focus on domestic production and a leadership team from nuclear, technology, and finance to improve reliability and urgency, reducing dependence on international sources. Its goal is to support the United States’ nuclear power capacity by supplying secure, affordable enriched uranium for reactors and aligned with national energy objectives.
Industries
Industrial & Manufacturing
Government & Public Sector
Energy
Company Size
11-50
Company Stage
Debt Financing
Total Funding
$950M
Headquarters
California, Kentucky
Founded
2024
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Total Funding
$950M
Above
Industry Average
Funded Over
2 Rounds
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Paducah site receives $100 billion investment to add data center campus. Louisville Courier Journal July 29, 2026 Updated July 30, 2026, 10:05 a.m. ET (This story has been updated with new information.) The U.S. Department of Energy announced July 29 it would use more than $100 billion in privately-funded investments to redevelop portions of the Paducah Gaseous Diffusion Plant in West Paducah into a data center campus. The project is part of a partnership between the DOE and Brookfield, NextEra Energy, Big Rivers Electric Corporation, Jackson Purchase Energy Cooperative and Paducah Power System. The redevelopment, which will also be coupled with other "new affordable energy infrastructure," is expected to create roughly 8,000 temporary construction jobs and 600 permanent jobs, DOE officials confirmed. The West Paducah site was built in 1952 to produce enriched uranium to fuel the U.S. nuclear weapons program, but later came to support commercial power plants before its closure in 2013. The DOE now owns the site and is overseeing its environmental cleanup activities. Among the several companies selected for roles in the project, the DOE chose Brookfield to develop and operate the data center campus, while NextEra Energy will construct and own the energy infrastructure that will power the site, pending Kentucky Public Service Commission approval. In line with President Donald Trump's Ratepayer Protection Pledge, DOE officials said the project's generation and storage capacity would exceed the campus' needs, allowing excess electricity to be transferred to the regional grid and reduce energy costs for residents and businesses. "Thanks to President Trump, the U.S. government is leveraging its assets - like our federal lands - to add power generation, create jobs and ensure the United States wins the AI race," U.S. Secretary of Energy Chris Wright said in a statement. "The President's Ratepayer Protection Pledge ensures America can build the energy infrastructure needed to power the AI revolution while lowering electricity costs for American families and businesses. By transforming former DOE sites into engines of innovation and economic growth, we can revitalize communities with increased tax revenue and thousands of jobs, while also strengthening America's energy security." The project also falls within the DOE's American Energy Hubs initiative, which pushes to transform former DOE sites into "engines of affordable energy production, advanced manufacturing, technological innovation and economic growth," according to a release. Within the last year, developers have hinted at their renewed interest in the Paducah site as a spot where uranium enrichment facilities, nuclear power plants and data centers could converge. In March, Global Laser Enrichment, the "exclusive worldwide licensee" of the laser technology for uranium enrichment, invested $1.76 billion in the site and, months beforehand, General Matter announced a $1.5 billion uranium enrichment project for the same area. The decision also comes at the heels of a slew of protests in Louisville following conversations about data center development. Jefferson County's first hyperscale data center is set to be built in southwest Louisville at 6001 Camp Ground Road, with the initial phase expected to begin in late 2026. The Louisville Metro Planning Commission voted March 5 to approve a revised plan to allow Louisville-based Poe Companies and Virginia-based PowerHouse Data Centers to move ahead with development. The DOE said the Paducah site is "uniquely positioned" to support AI infrastructure and private investment while still allowing for the site to continue its long-term redevelopment and environmental cleanup. "We are intently focused on finding ways to put federal land back to productive use for the American people," DOE Assistant Secretary for Environmental Management Tim Walsh added in a release. U.S. Congressman and Republican Senate candidate Andy Barr called the investment in a new data center "historic." "I'm grateful to Secretary Wright for his leadership and partnership in securing a long-term commitment from the federal government to back this project. After speaking with local and state officials who were strongly supportive of this investment, I personally advocated with the Secretary to help make the project happen," Barr said. "Together with our private sector partners, this investment will create jobs, strengthen our energy security, and deliver lasting economic growth for Paducah and the Commonwealth for decades to come." Construction of the new infrastructure and data center campus expected to be completed in 2031, officials said. Reporters Olivia Evans, Connor Giffin and Lillian Metzmeier contributed. Last-minute offer: Up to 50% offNow's your chance to book your next beach getaway. Take advantage of this last-minute offer with up to 50% off through Palladium Rewards using the promo code PROMO!Palladium Hotel Group | Ad Deal of the Day Recommendations are independently chosen by its editors. Purchases you make through its links may earn The Oak Ridger, LLC a commission. More Local Stories
General Matter, co-founded by Scott Nolan, has secured $900 million from the US Department of Energy to produce high-assay low-enriched uranium (HALEU) domestically. The funding aims to reduce American reliance on Russia and China, currently the only countries manufacturing HALEU commercially. HALEU is essential fuel for next-generation advanced reactors, including small modular reactors. General Matter will build a commercial enrichment facility in Paducah, Kentucky, on the site of a former gaseous diffusion plant. Construction began in August, with the company targeting supply of all domestic HALEU demand by the early 2030s. The contract forms part of a $2.7 billion government programme to strengthen domestic nuclear fuel production, addressing both energy security and national sovereignty concerns.
Faster project approval is focus at Operation Gigawatt nuclear power summit. Published May 25, 2026 at 2:42 PM MDT Leaders said at a nuclear power conference in Wasatch County May 22 that developing Utah as a nuclear powerhouse will require faster approvals and fewer "impediments." Hundreds of people, including many state, federal and industry leaders, filled the Grand Hyatt Deer Valley Friday, May 22, to talk about the future of nuclear energy. The summit's name, Operation Gigawatt, was a nod to Utah Gov. Spencer Cox's plan to double the state's energy production within 10 years and lead the nation in energy development. Speakers emphasized approving projects faster is key to realizing that vision. Nuclear Regulatory Commission Chair Ho K. Nieh told the crowd public opinion toward nuclear energy is shifting. "I still remember Three Mile Island, and I still remember Chernobyl, and I think as the generation is shifting, they don't carry that baggage," he said. He said his commission will not be "an impediment" to deploying nuclear power in the U.S. The National Environmental Policy Act (NEPA) is one area Nieh sees room for "working smarter, not harder." "We've been overachieving with NEPA for a very long time," he said. "It's like we're assigning ourselves more homework that nobody's ever going to grade." Cox applauded the federal government's current approach to permitting. "When we have to deal with the federal government, it usually means incredible delays, and it - you know, I had so much hair before I started - and here we are, and so this is refreshing," he said. Under President Donald Trump's leadership, energy projects are receiving accelerated environmental reviews because of what the administration calls a "national energy emergency." The Velvet-Wood uranium mine in southeastern Utah received its permits within 11 days last May; the Associated Press reports the process would ordinarily take months or years. Nearby residents have protested the mining plans. In the background of Friday's conference was the Military Installation Development Authority, the state entity whose presence in Utah has grown in recent years, including with the Utah National Guard and Stratos project areas. The Grand Hyatt Deer Valley is itself a MIDA project, created to replace a seven-room military lodge at Snowbasin. Salt Lake City resident Jackie Baker sat outside the hotel beginning at 7:30 a.m. with a mountain bike and a sign protesting MIDA's growing influence. "My sign says 'Men Intentionally Defrauding Americans, no Stratos,'" she said. She's opposed to MIDA's role in the state's push toward nuclear energy and artificial intelligence data centers. MIDA is partnering with nuclear power startup General Matter to bring an energy project to Camp Williams in Bluffdale, including potentially enriching uranium. It's also involved in plans to create a nuclear hub in Brigham City. MIDA's Stratos project, which will construct a hyperscale data center in Box Elder County, has drawn significant backlash. "It feels like the wrong thing to do at this point in time, especially considering that yesterday Gov. Cox declared a drought emergency," Baker said. "I think that we could be smarter about how we are working technology into not only our lives but our environment, and so I think that it's worth being a body to tell people to slow down a little bit, think a little bit more." Joel Ferry leads Utah's Department of Natural Resources. He told KPCW although state permitting might happen faster, the process will still be safe and thorough. "I can tell you, we as the state of Utah are not cutting corners," he said. "We're not trying to just cram something through. We want to do things the right way, and we'll take the time necessary to do things in the right way." In the case of the Stratos data center project, Ferry said that process will include many opportunities for public input. At Friday's conference, Cox signed an agreement to sync Utah's permitting timelines with federal environmental reviews, a move intended to advance energy projects more quickly.
Three companies awarded $2.7 billion in uranium enrichment orders, DOE says. The Department of Energy said Monday it was awarding $2.7 billion total in task orders to three companies with the goal of strengthening domestic uranium enrichment over the next ten years. American Centrifuge Operating, a Centrus company, and General Matter are both receiving $900 million to create a domestic high-assay low-enriched uranium (HALEU) enrichment capacity. Orano Federal Services is receiving $900 million to expand the U.S. domestic low-enriched uranium (LEU) capacity. DOE signed HALEU and LEU contracts with six total companies late in 2024. DOE's Monday press release said developing domestic production capacity for both will ensure an adequate fuel supply for the nation's 94 commercial reactors and future deployments of advanced nuclear reactors. The Donald Trump administration has issued a number of executive orders aimed at strengthening the domestic nuclear fuel cycle, including uranium enrichment and conversion as well as domestic uranium production. Secretary of Energy Chris Wright emphasized the importance of domestic uranium production in a hearing in June, mourning that there is "no American-owned enrichment based in the United States of America" today, and that he strives to build "commercial enrichment in the United States." The Joe Biden administration has also worked to increase American domestic uranium enrichment capabilities with a ban on Russian-imported uranium that will begin in 2028.
The US Department of Energy has awarded $2.7 billion to three companies to strengthen domestic uranium enrichment capabilities. General Matter, a nuclear startup backed by Peter Thiel, will receive $900 million, alongside equal amounts for American Centrifuge Operating and Orano Federal Services. The funding, distributed over 10 years through milestone-based task orders, aims to reduce dependence on Russian fuel supplies, which currently control 44% of global uranium enrichment capacity and provide 35% of US nuclear fuel imports. The awards will also support domestic production of high-assay low-enriched uranium for advanced reactors. The initiative addresses surging electricity demand from AI data centres, as tech giants including Microsoft, Google and Meta expand their infrastructure. The funding was allocated in a 2024 government bill during the Biden-Harris administration.
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Industries
Industrial & Manufacturing
Government & Public Sector
Energy
Company Size
11-50
Company Stage
Debt Financing
Total Funding
$950M
Headquarters
California, Kentucky
Founded
2024
Find jobs on Simplify and start your career today