Energy corporation Kairos Power of Alameda, California has chosen Albuquerque for its new $125 million dollar engineering center, to be used for the research and development of advanced reactor technology.
According to its website, Kairos was founded to accelerate the development of an innovative nuclear technology that has the potential to transform the global energy landscape. At no time will any nuclear material be on site in Albuquerque, the company told the publication Area Development.
As an incentive to build its R&D facility in Albuquerque, Kairos received $4 million in Local Development Act funds. Because the company is locating in an “Opportunity Zone,” Kairos is the first company to be awarded a $1 million bonus under New Mexico’s Opportunity Zone development program.
Jim Chynoweth, chairman of Albuquerque Economic Development, Inc.
The new facility will be located in Albuquerque’s Mesa del Sol master-planned community. Kairos will purchase an existing building on 32 acres of land, where it plans to expand in the future.
Kairos projects that it will invest up to $125 million in Mesa del Sol. The investment will eventually create more than 65 jobs, the company said in a press release. The facility will focus on engineering and the testing of high-temperature salt technology, the release said.
“Our new facility in Albuquerque will allow us to expand our engineering research and development program in support of our mission to enable the world’s transition to clean energy,” Kairos Power CEO Mike Laufer told Area Development. “We are excited to build our team and start work in New Mexico, which brings great people and partner organizations to support our efforts.”
"The high-paying jobs at Kairos Power will help build wealth in our community and provide an exciting path for STEM students coming out of our higher-education institutions,” New Mexico Economic Development Department Cabinet Secretary Alicia J. Keyes said in the release.
Jim Chynoweth, chairman of Albuquerque Economic Development, Inc., said the city is looking forward to watching the evolution of Kairos’ technology.
“Kairos Power’s vision to change the world’s energy landscape matches the innovative mindset and expertise readily available in New Mexico with our national labs and universities.”
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