Kairos Power LLC plans to create 100 new jobs in New Mexico by building three new facilities in an expansion of its Albuquerque operations. The California-based nuclear technology, engineering, and manufacturing company initially expanded to Albuquerque’s Mesa del Sol community in 2019 for its research and development engineering center to support the commercialization of its advanced reactor technology. The company also has locations in Oak Ridge, TN and Charlotte, NC.
At its Albuquerque campus, Kairos Power plans to construct a salt production facility to produce high-purity molten salt coolant for advanced reactors. That facility will be built alongside a TRISO Development Lab, where it will optimize fuel manufacturing techniques to be implemented in a new space the company is building at Los Alamos National Laboratory’s Low-Enriched Fuel Fabrication Facility. The salt coolant and TRISO fuel produced in these facilities will go into the Hermes demonstration reactor currently under construction in Tennessee. At no time will any special nuclear material be on-site at Kairos Power’s Albuquerque facility.
“Kairos Power is pleased to continue growing our presence in New Mexico and contribute to the local ecosystem of clean energy innovation,” said Kairos Power CEO and co-founder Mike Laufer. “The infrastructure and capabilities we are investing in here are critically important to our long-term commercial strategy and will enable the delivery of a safe, reliable, and affordable technology, starting with the Hermes demonstration reactor. We thank the City of Albuquerque and the State of New Mexico for their continued support as we work to bring value to the region while advancing our clean energy mission.”
Based on a state analysis, the project will generate an estimated total economic impact of up to $478 million to New Mexico over the next 10 years. The company plans to hire technicians, operators, fabricators, machinists, engineers, and more with an average salary of over $100,000. Additionally, the company has an internship program that works with the University of New Mexico (UNM) and Central New Mexico Community College (CNM) to successfully convert interns into full-time employees.
The New Mexico Economic Development Department (EDD) has committed $3 million in Local Economic Development Act (LEDA) funding for the project. Kairos Power will also be eligible for New Mexico’s High Wage Jobs Tax Credit and Manufacturing Investment Tax Credit. Additionally, the project will receive $1.8 million in Job Training Incentive Program (JTIP) funding to train 100 new employees.
“The New Mexico Economic Development Department is proud to support this innovative company so that we can bring more high-wage jobs to the state. Additionally, this type of technology greatly reduces water consumption and is wonderful for arid regions looking for clean energy,” said New Mexico EDD Secretary Rob Black. “Since 2019, Kairos Power has invested in NM, and we’re thrilled for their continued growth.”
The City of Albuquerque Economic Development Department has committed $500,000 through its LEDA fund and will serve as the fiscal agent for the state’s funding. Kairos Power has applied for an Industrial Revenue Bond (IRB), which will result in a company investment of more than $269 million in building and equipment purchases. All incentives are pending approval by the Albuquerque City Council.
“For decades we dreamed of Albuquerque being at the center of the renewable economy, that dream is more and more becoming reality,” said Mayor Tim Keller. “We have the right workforce and the right location to be the home of the clean energy manufacturing, and Kairos brings more good-paying jobs for Albuquerque families.”
“Kairos Power’s expansion is a big win for Albuquerque,” commented City of Albuquerque Economic Development Director Max Gruner. “This project is a prime example of how public-private collaboration can fuel economic growth and innovation.”
