Prometheus Hyperscale’s SMR Strategy 2025: Powering AI Data Centers with Nuclear Energy

Prometheus Hyperscale’s SMR Projects: From LOI to Commercial PPA for AI Data Centers

Prometheus Hyperscale is transitioning its nuclear power strategy from a conceptual letter of intent to a tangible commercial framework to secure carbon-free baseload energy for its gigawatt-scale AI data centers. This move demonstrates a clear progression from early-stage exploration to a focused commercialization path designed to solve the 24/7 power needs of the AI industry. The company’s actions show a maturing strategy to integrate Small Modular Reactors (SMRs) as a core component of its future energy mix.

• During the 2021-2024 period, the company established its foundational strategy by signing a non-binding Letter of Intent (LOI) with advanced fission company Oklo. This agreement, announced in September 2024, outlined a plan for Oklo to supply 100 MW of power from its Aurora powerhouses, marking a pioneering but unproven step for the data center industry.
• The strategy advanced significantly from January 1, 2025, to today, as Prometheus Hyperscale publicly declared its intent to pursue a landmark deal with Oklo for future Power Purchase Agreements (PPAs). This positions the company as a key offtaker to justify and enable the deployment of SMR technology for firm, zero-emission power.
• This strategic shift from a non-binding agreement to a focused PPA pursuit signals growing industry confidence in SMRs as a viable solution to the constant power demands of AI. It moves the technology closer to bankability and commercial adoption for industrial use, with Prometheus Hyperscale acting as a committed first-mover customer.

Investment Analysis: Financing Prometheus Hyperscale’s Gigawatt-Scale Infrastructure

Prometheus Hyperscale‘s investment strategy is defined by large-scale capital commitments to develop the massive data center campuses that its SMR and hybrid energy solutions are designed to power. The financing, totaling in the billions, is directed at building out the physical infrastructure in Wyoming and Texas that creates the underlying demand for next-generation energy sources like SMRs. These investments are critical for establishing the gigawatt-scale projects where advanced nuclear technology will eventually be integrated.

Table: Prometheus Hyperscale Project Investments (2025)

Partnership Ecosystem: How Prometheus Hyperscale is Building its SMR-Powered Data Centers

Prometheus Hyperscale has assembled a comprehensive partnership ecosystem to support its SMR ambitions by creating a viable and investable data center model. While the Oklo agreement provides the future clean baseload power, collaborations with energy, carbon capture, and technology firms build the necessary infrastructure and de-risk the development process. This network of partners ensures that the company can deliver operational data centers today using a hybrid energy model while paving the way for SMR integration tomorrow.

Table: Prometheus Hyperscale Strategic Partnerships (2024-2025)

Geographic Focus: Why Prometheus Hyperscale is Centering its SMR Strategy in Wyoming

Prometheus Hyperscale has strategically concentrated its SMR-integrated data center development in Wyoming, leveraging the state’s favorable industrial environment and energy resources to pioneer its nuclear-powered AI infrastructure model. This geographic focus allows the company to build gigawatt-scale campuses that are large enough to anchor first-of-a-kind energy technologies like SMRs, creating a replicable blueprint in a single, supportive region before expanding its most advanced models elsewhere.

• The initial strategy in 2024 was centered on Evanston, Wyoming, with the announcement of a $10 billion, 1 GW campus designed to integrate the planned 100 MW SMR from Oklo. During this time, the company also revealed a development pipeline including sites in Arizona and Colorado, indicating broader but less defined expansion plans.
• From 2025 onward, the focus on Wyoming intensified with the announcement of a 1.2 GW flagship campus and a 1.5 GW carbon-negative campus in Casper. These projects solidify Wyoming as the core location for deploying the company’s fully integrated energy model, which includes future SMRs, direct air capture, and carbon sequestration.
• While a concurrent expansion into Texas with partners ENGIE and Conduit Power shows a dual-geography strategy, the most technologically advanced and capital-intensive projects remain anchored in Wyoming. This establishes the state as the primary proving ground for Prometheus Hyperscale’s long-term energy vision, including SMRs.

SMR Technology Maturity: Gauging Prometheus Hyperscale’s Path from Concept to Commercial Power

The maturity of SMR technology within Prometheus Hyperscale‘s strategy is progressing from a non-binding exploratory phase toward a concrete commercial objective, though it remains a pre-deployment, forward-looking component. The company’s actions show a calculated progression designed to de-risk its reliance on the technology by acting as a committed early customer, thereby helping pull the technology toward commercial readiness.

• In 2024, SMR integration was at an early, conceptual stage, defined by a non-binding Letter of Intent with Oklo for 100 MW. This represented a high-risk but strategic position on an emerging technology that had not yet been commercially deployed for data centers.
• In 2025, the technology’s perceived viability was advanced by Prometheus Hyperscale’s public commitment to pursue a landmark deal and secure a firm Power Purchase Agreement with Oklo. This action signals a clear transition from exploration to a commercialization path, positioning the company to become a key offtaker.
• The technology itself remains in a pre-commercialization phase for this specific application, but the strategic shift toward a binding PPA is a critical validation step. Its success now hinges on Oklo’s ability to execute and deliver its Aurora powerhouses, with Prometheus Hyperscale serving as an essential demand-side partner.

Table: SWOT Analysis: Prometheus Hyperscale’s SMR Strategy (2021-2025)

2025 Outlook: Prometheus Hyperscale’s Next Steps for SMR-Powered AI Infrastructure

The most critical action for Prometheus Hyperscale in the year ahead is to convert its strategic intent for SMR power into a binding commercial agreement, which will serve as the financial and operational cornerstone of its long-term zero-carbon energy vision. This step will move its nuclear strategy from a plan to a project. Success in this area will provide a clear signal to investors, customers, and the broader market that its blueprint for powering the AI economy is viable.

• The finalization of a Power Purchase Agreement (PPA) with Oklo for the planned 100 MW of nuclear power is the single most important milestone to watch. This will transform the SMR plan from a forward-looking strategy into a bankable asset.
• Progress on the construction timelines for the Wyoming campuses, particularly the 1.2 GW flagship and the 1.5 GW Casper project, will be a key indicator. Meeting the 2027 target for the first 150 MW phase is critical for demonstrating execution capability.
• The successful execution of parallel initiatives, such as deploying organic flow batteries with XL Batteries and integrating carbon capture with Spiritus, will show that the company can manage its complex, multi-technology portfolio while awaiting SMR deployment.

Frequently Asked Questions

What is Prometheus Hyperscale’s main goal with using SMRs?
Prometheus Hyperscale’s main goal is to secure carbon-free, 24/7 baseload energy to power its gigawatt-scale AI data centers. The company views Small Modular Reactors (SMRs) from its partner, Oklo, as a core component of its future energy mix to solve the constant power needs of the AI industry.

Why is Prometheus focusing its SMR strategy in Wyoming?
Wyoming is the strategic focus due to its favorable industrial environment and energy resources. This allows Prometheus to build the massive, gigawatt-scale data center campuses (like the 1 GW Evanston project) needed to anchor a first-of-a-kind energy technology like SMRs and create a replicable blueprint in a supportive region.

How will Prometheus power its data centers before the SMRs are operational?
Prometheus is using a hybrid energy model as a bridge solution. It has formed partnerships with companies like PureWest Energy for low-carbon natural gas with carbon capture, and with ENGIE and Conduit Power in Texas for hybrid power solutions combining renewables and battery assets. This ensures reliable 24/7 power until SMRs come online.

What is the significance of moving from a Letter of Intent (LOI) to pursuing a Power Purchase Agreement (PPA)?
This move signifies a major shift from an early-stage, non-binding exploration to a focused commercialization path. It shows growing industry confidence in SMRs and moves the technology closer to being bankable for commercial use. By pursuing a PPA, Prometheus acts as a committed first-mover customer, helping to justify and enable the deployment of Oklo’s SMR technology.

What is the most critical next step for Prometheus Hyperscale’s SMR plan?
The most critical action is to finalize a binding Power Purchase Agreement (PPA) with Oklo for the planned 100 MW of nuclear power. This step is essential as it will transform the SMR strategy from a forward-looking plan into a bankable, commercial project and provide a clear signal to investors and customers that the vision is viable.