Deep Fission secures Kansas power purchase agreement amid short-seller scrutiny

Reactor developer Deep Fission has entered into a master energy purchase agreement with the Great Plains Development Authority in Kansas, the company announced last week. The agreement represents a concrete commercial step for the Department of Energy-backed start-up, which has been working to establish its position in the emerging small reactor market.

The signing comes at a notable moment for the company. A recent report published by a short-seller firm accused Deep Fission of exaggerating its commercial viability, casting doubt on the start-up's market standing. The Kansas agreement provides a tangible counterpoint to those claims, though the scope, pricing terms, and timeline of the power purchase arrangement were not detailed in available reporting.

Master energy purchase agreements are framework contracts that establish the terms under which energy will be bought and sold between parties over time. For a reactor developer at an early commercial stage, such an agreement with a regional development authority can signal offtake interest and help underpin project financing discussions, though it does not necessarily indicate that construction or regulatory approvals are imminent.

The Great Plains Development Authority, based in Kansas, serves as the counterparty in the deal. Kansas has seen growing interest in advanced nuclear technologies as utilities and regional bodies seek to diversify long-term power supply options. The state's energy landscape, historically shaped by wind generation and conventional thermal capacity, is increasingly being evaluated as a potential host for next-generation reactor projects.

Deep Fission has received backing from the Department of Energy, positioning it among a cohort of federally supported advanced reactor developers competing for commercial contracts and project sites across the United States. The short-seller report targeting the company reflects broader market scrutiny that several nuclear start-ups have faced as investor enthusiasm for the sector is tested against the long development timelines and capital requirements typical of nuclear projects.

Supply-chain professionals tracking the advanced reactor segment will note that a master energy purchase agreement, while commercially meaningful, represents an early-stage commitment. Translating such agreements into firm orders for components, engineering services, and fuel supply typically requires subsequent project development milestones, including site selection, licensing progress, and financial close. The terms and conditions governing the Kansas agreement, including any contingencies or exclusivity provisions, have not been publicly disclosed.

The announcement adds to a series of offtake and partnership deals across the advanced nuclear sector, as developers seek to demonstrate demand ahead of seeking construction financing and regulatory approvals.

Key facts

  • Deep Fission signed a master energy purchase agreement with the Great Plains Development Authority in Kansas.
  • The company is backed by the Department of Energy.
  • A short-seller firm recently published a report accusing Deep Fission of overstating its commercial viability.
  • Financial terms, project timelines, and capacity details were not disclosed in available reporting.

DOE Issues Conditional Loan Commitment to Constellation for Nuclear Uprates Across Nine Plants

Federal Financing Framework

The US Department of Energy launched its Utility Power Reactor Incremental Scaling Effort, known as UPRISE, in March of this year with a target of adding 5 GW of nuclear generating capacity by 2029. The programme focuses on power uprates, life extensions, and facility restarts as the most cost-effective near-term routes to capacity growth, with an interim milestone of 2.5 GW by the end of next year and a further 2.5 GW within three years after that.

Under UPRISE, the DOE's Office of Energy Dominance Financing holds more than USD 289 billion in available loan authority and is authorised to cover up to 80% of eligible project costs for qualifying uprate work at attractive interest rates. The office is also tasked with facilitating collaborative agreements between plant owners and end users.

Scope of the Conditional Commitment

Constellation has received a conditional loan commitment under UPRISE covering planned uprate investments at nine facilities: Braidwood, Byron, Clinton, Dresden, LaSalle, and Quad Cities in Illinois; Calvert Cliffs in Maryland; and Limerick in Pennsylvania. The combined capacity addition across these sites is nearly 1.1 GWe.

The commitment also includes an option to finance future uprate projects at additional Constellation facilities beyond those currently identified. However, the arrangement remains subject to completion of due diligence, negotiation of definitive financing documents, and satisfaction of applicable conditions. It does not constitute a final decision to proceed at every facility under consideration.

Private-Sector Demand as a Catalyst

Constellation noted that the federal commitment builds on substantial private investment already in place. Separate 20-year power agreements with Google and Amazon have underpinned a commitment by Constellation to invest more than USD 7 billion to add approximately 1,080 MW of nuclear capacity. An agreement with Meta, announced last year, supports a 30 MW expansion specifically at the Clinton Clean Energy Center in Illinois.

The company stated that these long-term offtake arrangements demonstrate how large energy consumers can enable new reliable generation that feeds into regional grids and benefits a broader customer base. The conditional DOE loan is expected to lower financing costs and allow Constellation to advance projects at greater scale and pace than private capital alone would support.

Conditions and Next Steps

If the loan commitment is finalised, Constellation has indicated it will continue engagement with the DOE, customers, regulators, and local stakeholders to advance individual uprate projects. The conditional nature of the commitment means each facility will require separate project-level decisions before work proceeds.

The United States has a stated national goal, announced by President Donald Trump, of expanding the country's nuclear generating capacity from 100 GW to 400 GW by 2050. The UPRISE initiative and this commitment to Constellation represent early steps toward that longer-term objective.

Ethiopia targets two 1200 MWe reactors as Russia agreement advances

Programme scope confirmed

Ethiopia's prime minister has publicly confirmed that the country intends to build two nuclear reactors, each rated at 1200 MWe, as part of a national energy programme formally launched last year with the establishment of the Ethiopia Nuclear Energy Commission. Speaking during a visit to the Commission's facilities, the prime minister acknowledged the timeline would require at least ten years to realise.

The rationale given for pursuing nuclear centres on its ability to deliver reliable, consistent baseload output without the seasonal variability that can affect hydroelectric and solar generation. The prime minister framed nuclear energy as a strategic enabler of industrialisation, manufacturing, digital infrastructure, and economic transformation, while also citing potential contributions to healthcare, agriculture, and environmental protection.

Site selection under way

Three candidate locations have been shortlisted from an initial pool of more than 30 assessed sites. Before any technology-provider agreement can be concluded, the prime minister stated that the viability and suitability of these sites must be confirmed by external institutions. No timeline for that validation process was given.

Workforce development identified as critical requirement

The prime minister emphasised that nuclear development is not a straightforward procurement exercise. Building a skilled domestic workforce, advancing scientific research, and establishing knowledge-transfer mechanisms for future generations were described as essential prerequisites for developing nuclear energy safely, responsibly, and sustainably. The Ethiopia Nuclear Energy Commission is tasked with laying the institutional and technical foundations for the programme.

Russia cooperation deepens

Ethiopia and Russia have maintained a formal nuclear cooperation relationship since an intergovernmental agreement was signed in 2019. A bilateral roadmap covering power plant construction, a Nuclear Science and Technology Centre, and national infrastructure development followed in 2023. In March 2026, the Ethiopia Nuclear Energy Commission and Rosatom signed a further strategic roadmap for nuclear energy development, building on an action plan concluded in September 2025.

Russia's Ambassador to Ethiopia stated this week that Rosatom, acting through the Rusatom International Network, and the Ethiopia Nuclear Energy Commission are currently coordinating a draft intergovernmental agreement covering the fundamental principles of cooperation for nuclear power plant construction in Ethiopia. According to the ambassador, signing that agreement will trigger the design and engineering phase of the project. He noted that all interaction is being conducted in strict accordance with IAEA standards and regulations.

The ambassador's remarks were made ahead of the Russia-Africa summit scheduled to take place in Moscow on 28–29 October.