Rapid News Brief: Samsung C&T and Kairos Power signed a binding term sheet on Sept. 21 for up to $100 million in investment and engineering services to support Kairos’ Hermes 2 reactor project in Oak Ridge, Tennessee. The project is linked to Google’s plan to secure electricity for data centers, making construction execution—not just a future power contract—the immediate business test.
The companies said the package combines a direct investment with in-kind services and remains subject to regulatory approvals. A Kairos spokesperson told TechCrunch that $70 million of the potential total is equity. The announced figure is therefore not a completed $100 million cash payment.
A construction partner joins the project
Under the companies’ announcement, Samsung C&T would join Kairos’ engineering, procurement and construction team. Initial work would focus on power-generation systems and other plant infrastructure, while Kairos would continue to lead reactor technology and project management. The agreement expands an earlier framework involving Samsung C&T and contractor Barnard Construction.
That division of work matters because Kairos must translate an advanced reactor design into a project that can be built on schedule and at a viable cost. Samsung C&T brings large-project delivery experience; its involvement does not, by itself, establish that Hermes 2 will start operating on the timetable the companies target.
Google’s power plan remains forward-looking
Google said in 2025 that it and the Tennessee Valley Authority had arranged for electricity from Hermes 2 to support data centers in Tennessee and Alabama, with operations targeted for 2030. Google described the plant as the first deployment under its broader agreement with Kairos. The new Samsung term sheet is a step toward delivery, not a change in that power-purchase arrangement.
The Nuclear Regulatory Commission has issued construction permits for Hermes 2, but the project is not an operating power plant. Additional approvals and construction milestones remain. For Google and other large electricity buyers, the significance of Monday’s deal is the addition of a financing and engineering partner to a long-lead infrastructure project whose promised capacity has yet to reach the grid.