Valerie Gardner, founder and managing partner of Nucleation Capital, and Dr. Rachel Slaybaugh, a partner at DCVC, presented remarks on the topic of "Procuring Investments for Commercialization" in the concluding session of ARPA-E's Fission Summit covering Technology to Market, held in Hollywood, California, April 18-20, 2023.
This was the 2023 Annual Fission Program Review Meeting being held as a showcase of all of the groups funded by ARPA-E for cutting edge research and development of new fission technologies and materials.
Day 1 of the program covered the CURIE and OnWARDS Programs provided an opportunity for the grantees to do project "lightening talks," and covered topics including NRC Engagement, Technology-to-Market preparedness, Industry Perspectives on Reprocessing and Legal Considerations. There were also presentations from TerraPower, GE Global Research, the IDNL, Deep Isolation, Brigham Young University and Citrine Informatics.
Day 2 of the program covered Processing Technologies, Advanced Reactor Waste Disposal, Materials, Microreactors and Enabling Technologies. In addition to remarks from Jon Carmack, Danny Cunningham,, Jenifer Shafer adn Bob Ledoux, there were a range of panels that included speakers from Dow Chemical, EPRI, Southern Company and Westinghouse. The CURIE, ONWARDS, GEMINA, MEITNER AND OPEN Program grantees also gave more lightening talks.
On the third and final day of the event, the discussion shifted to commercialization and raising capital. After Danny Cunningham of ARPA-E gave a quick overview of "How to Commercialize an Idea, John Bistline of EPRI covered a view of the Energy Market in Transition. Following this, Valerie and Rachel discussed how ventures procure investments from venture capital. They presented an overview of how venture capital works and the range of financing prospects that young companies could expect. In a final hat tip to innovation, Valerie described how innovation in the finance and venture fields was enabling a range of non-traditional funds to enter the market with missions to fund high-risk innovation technologies such as advanced nuclear. To view Valerie's slides for the presentation, click the image below.
Diablo Canyon has been saved—for now! Rather than allowing this clean energy producing power plant to be wastefully decommissioned by those who simply dislike nuclear power, the California legislature, under the leadership of Governor Gavin Newsom, voted to extend its life by up to 10 years. Senate Bill 846, sponsored by Jordan Cunningham (CA-25, R), passed with nearly unanimous votes in both the Democratically-controlled Assembly and Senate. SB 846 also provides for as much as $1.4 billion in loans from California to PG&E for re-licensing and enables PG&E to also submit a timely application to the DOE's Civil Nuclear Credit program for further aid in re-starting licensing with the NRC and transitioning back to full-operating mode. This is a nearly miraculous win for California's pronuclear advocates and it is worth celebrating both the win and the broader community that made it possible.
While there are a lot of individuals and organizations who contributed to setting the stage for this phenomenal political win for nuclear power in general and Diablo Canyon specifically, there were also considerable underlying political realities that effectively forced the Governor's hand. In particular, the state's own energy experts from CALISO, CEC, as well as academia and industry, expressed extreme alarm at the high level of fragility of the grid and the high risk of power outages even with Diablo Canyon operating. The closure of Diablo Canyon was clearly going to exacerbate the already bad situation. Climate change and state clean energy mandates made the CPUC's plan to replace Diablo Canyon's clean energy with dirty coal power from PacifiCorp anathema to the both the state's goals and the Governor's political reputation. Meanwhile, the Russian invasion of Ukraine has resulted in dire energy shortages in Europe and rising gas prices. This is making the world's growing reliance on natural gas both uneconomical and politically unsavory.
With that as the political and economic backdrop, we wish to take a look at some of the individuals and groups that took on prominent roles advocating for nuclear power in general and for Diablo Canyon specifically. Some of these groups worked behind the scenes and some played highly prominent roles. The press has recognized the advocacy of the San Luis Obispo-based Mothers for Nuclear, which has consistently stood up for Diablo Canyon at local hearings, rallies and in the press. This mom-led non-profit further coordinated with Isabelle Boemeke, a model-turned "nuclear influencer," whose online presence "Isodope," introduced a witty, stylish and slightly snarky approach to pronuclear advocacy, sharing her frank messaging with a new generation. Together, they organized several recent and memorable public events, a rally on behalf of Diablo Canyon and the issuance of letter to Governor Newsom signed by 79 prominent scientific experts. As impactful as both of those campaigns were, their success rested upon a foundation of public opinion that had grown stronger due to very considerable contributions from the following very notable individuals and groups:
The Pronuclear Village
(Click to enlarge.)
Nuclear-Focused Writers
James Conca, Forbes Robert Bryce, Forbes and other Michael Shellenberger, Forbes, Environmental Progress Rod Adams, Atomic Insights Catherine Clifford, CNBC
Academics & Scientists
Dr, James Hansen, Climate Science, Awareness and Solutions, at the Earth Institute of Columbia University Dr. Todd Allen, University of Michigan Dr. Jacopo Buongiorno, MIT Dr. Steven Chu, Stanford University Dr. Jesse Jenkins, Princeton Dr. Jessica Lovering, University of Colorado, Boulder Also, another 75 or so who signed the February 2022 letter to Governor Newsom
Stewart Brand, The Whole Earth Catalog Californians for Green Nuclear Power, Dr. Gene Nelson What is Nuclear, Nick Touran Radiant Energy, Mark Nelson Thorium Energy Alliance, John Kutsch Google, Ross Koningstein (IEEE, White Papers) D.J. LeClear, The Rad Guy TEA, Silicon Valley, Alex Cannara Save Clean Energy, Isabelle Boemeke Citizen’s Climate Lobby, Jim Hopf (Nuclear group) 4th Generation Blog, Canon Bryan, Amelia Tiemann Rethinking Nuclear, Richard Steeves
Politicians & Biden Admin
Trump Administration & Congress, laid a foundation with the passage of NEIMA & NEICA Senator Sheldon Whitehouse, loudly pronuclear Senator Cory Booker, introduced his support of nuclear power during the 2019 Primary Climate Debates President Joe Biden, ushered in the Energy Bill of 2020, which funded the Advanced Reactor Development Program (ARDP), to accelerate commercialization of the next generation of reactors Dept. of Energy, Secr. of Energy, Jennifer Granholm, worked overtime to introduce the Civil Nuclear Credit program in a timely way, plus, she has posted many great videos about the need for nuclear to address climate Gov. Gretchen Whitmer has expressed her support for the protection of the Palisades Nuclear Power plant and now for Holtec's application to restart it The Infrastructure & Jobs Act, set up the Civil Nuclear Credit Program, with a $6 billion fund to save nuclear power plants, such as Palisades and Diablo Canyon Representative Elaine Luria, has introduced a bevy of important nuclear energy bills, including the Nuclear Energy Leadership Act (’19), Nuclear Power Purchase Agreements Act (’21), and Fueling our Nuclear Future Act (’22) All of Congress, has used voice votes to approve key pronuclear pieces of legislation Senator Diane Feinstein, wrote about her support for Diablo Canyon in a number of OpEds DOE’s Loan Program Office (LPO), under the leadership of Jigar Shah, has been working to provide Government-guaranteed loans to key projects
Funders
There is a small but dedicated community of funders who have shown a willing to support many of the above non-profits, as well as the various artistic and advocacy campaign initiatives. We are greatful to them, as they have allowed much of the work that others have not been willing to fund, to be produced.
[Please note: All of the above listed groups have websites that are available online. Legislation is all searchable. We are not able to provide links for every group but have provided for some that may be harder to find. If you have trouble finding information you need, please reach out through our contact form. We have had a prime seat for the last decade or so to follow the events but we cannot possibly include everyone or every group that is active in this space. However, if you think we have omitted an important contributor who should be listed as having had a meaningful impact on the decision to save Diablo Canyon, please use the comment box below to send us a private message.]
Rod Adams, managing partner of Nucleation Capital, speaks with Isaac Orr, a policy fellow at Center of the American Experiment and founder of Nuclear Barbarians. Isaac and Rod's conversation features a fascinating discussion with Rod Adams, who explains the origins of his interest in nuclear energy as a young naval recruit. The podcast details the rise and fall of nuclear power as a means of generating civilian power and gives us all some insight into what may be next for this energy source.
Please click the above video to enjoy the show or click here to go directly the Nuclear Barbarians site.
Rod Adams, managing partner of Nucleation Capital, speaks with Chris Keefer, an emergency physician, medical instructor, nuclear energy activist, and the host of Decouple. Chris and Rod focus on the health impacts of nuclear energy, in particular radiation dosage and the impacts of the application of the Linear Non-Threshold theory (LNT), which effectively deems any amount of radiation to add health risk. Please click the above podcast link to listen to "Means, Motive, Opportunity: Fossil Fueled Radiophobia feat," or head over to Anchor at Spotify to download and subscribe to the Decouple podcast.
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od Adams, managing partner of Nucleation Capital, speaks with Chris Keefer, an emergency physician, medical instructor, nuclear energy activist, and the host of Decouple. Chris and Rod focus on the health impacts of nuclear energy, in particular radiation dosage and the impacts of the application of the Linear Non-Threshold theory (LNT), which effectively deems any amount of radiation to add health risk. Please click the above podcast link to listen to