Two energy companies will bring a combined $300 million in capital investments to Tennessee.
Type One Energy Group, a stellarator fusion energy company, will establish its headquarters in Tennessee, along with bringing research and development (R&D) operations to the state as part of a $223.5 million investment in East Tennessee.
The investment will create 330 jobs, according to the Tennessee Department of Economic and Community Development (TNECD).
“With assets like Oak Ridge National Lab, Tennessee is the quintessential location for companies like Type One Energy to grow and succeed,” TNECD Commissioner Stuart C. McWhorter said. “This project will not only strengthen Tennessee’s R&D footprint but also further develop our nuclear sector, which wouldn’t be possible without the forethought of Gov. Bill Lee and our Tennessee General Assembly to create the Nuclear Energy Fund.”
Type One Energy plans to house facilities for its “stellarator fusion prototype machine” at the Tennessee Valley Authority’s Bull Run Fossil Plan in Clinton, Tennessee.
“Type One Energy will build the world’s most advanced stellarator at TVA’s Bull Run Fossil Plant. This prototype, Infinity One, will not only confirm the design and operation of our subsequent Fusion Pilot Plant, but will also become an excellent platform for a potential long-term national fusion research facility,” said Christofer Mowry, CEO, Type One Energy. “We are excited to expand our operations in Tennessee in partnership with TVA and ORNL. We are also grateful for the leadership of Gov. Lee and his vision, which led to the Nuclear Energy Fund’s valuable support for this project.”
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The company is the first to receive funding from the Nuclear Energy Fund, which was approved in the 2023-24 budget and created to support nuclear development in the state.
Construction is expected to begin after environmental reviews, partnership agreements, and permits and operating licenses are complete.
Shoals Technologies Group To Invest $80M, Expand Operations
Shoals Technologies Group will invest $80 million over five years to expand its manufacturing and distribution operations in Sumner County, Tennessee. The company plans to relocate its operations to a larger location in Portland, according to TNECD.
“Shoals is an innovative brand that we are proud to have headquartered in Tennessee,” McWhorter said. “Companies always have a choice in where they choose to invest and do business, and we appreciate Shoals’ continued support in our state, specifically the Portland and Sumner County communities.”
Shoals expects to create roughly 550 jobs as part of the expansion, bringing its total staff in the region to around 1,400, according to TNECD.
“Today’s announcement marks a pivotal moment for Shoals’ growth, allowing us to enhance efficiency, create jobs, and contribute even more to the thriving economic landscape of Tennessee,” said Brandon Moss, CEO of Shoals Technologies Group. “I am immensely proud of our dedicated team for their commitment and success and am grateful to the State of Tennessee for their partnership in making this transformative move a reality.”
Headquartered in Portland, Tennessee, Shoals Technologies Group is a leading electrical balance of systems (EBOS) provider for solar, energy storage, and eMobility. The company serves customers worldwide from several locations in the U.S.
