"Indiana is leading the nation in the next chapter of American energy independence," said Gov. Mike Braun. "With First American Nuclear planting its roots here, we're bringing 5,000 high-paying, generational Hoosier jobs while cementing our state as a leader in clean, reliable nuclear power."
The energy park is designed to be the first to operate in a "closed-fuel cycle" in U.S. history, meaning it will reprocess and reuse spent nuclear fuel on-site, eliminating 97% of long-lasting nuclear waste. The EAGL-1 reactor can also create more fuel than it burns, setting the stage for nuclear energy to be deemed not only clean, but renewable.
"In the flurry of America's nuclear renaissance, Indiana and FANCO found a shared commitment to technical merit, authenticity, and follow-through," said Mike Reinboth, CEO of First American Nuclear. "Collectively, our team has dedicated centuries to nuclear science, resulting in an unmatched nuclear solution that, fittingly, will take root in the crossroads of America."
FANCO's flagship technology, the EAGL-1 SMR, is the only nuclear technology in the U.S. cooled using a liquid metal alloy called lead bismuth. Having been involved in numerous commercial reactor deployments and nearly every major advanced nuclear project in the Western Hemisphere, the FANCO founders worked with sodium, molten salt, pressurized water, and high-temperature gas coolants for decades.
Their first-hand experience, combined with the knowledge that highly successful nuclear systems outside the U.S. are lead-bismuth cooled, convinced the team that lead bismuth solves the most arduous technical challenges to delivering safe, commercial-scale nuclear energy at an affordable price. Indeed, the EAGL-1 design generates 240 megawatts of electricity (MWe), enough to power 1.5 million homes from the typical six-reactor cluster, with a footprint one-tenth that of traditional nuclear power plants delivering similar MWe.
"Indiana and First American Nuclear joining forces to improve the quality of life for Hoosiers and the American people was an easy decision to make," said Suzanne Jaworowski, Indiana Secretary of Energy and Natural Resources. "FANCO has the ability to deliver affordable, sustainable power to light up our rooms, keep us warm in the winter, cool in the summer, and rise to the ever-increasing energy demands of an advanced manufacturing and computing economy."
The coolant is the key: why lead bismuth is a game-changer
Due to the benign chemical properties of lead bismuth, EAGL-1 does not require complex safety systems using exotic materials. The result is a compact, simple design with one-third less hardware than other SMRs and the ability to integrate seamlessly with off-the shelf power systems — all without sacrificing power. The EAGL-1 design will be manufactured and assembled with existing factory infrastructure and U.S. supply chains, driving further savings.
Yet another unique capability of FANCO is its proprietary solution to efficiently and cost-effectively transform existing coal plants into natural gas and, ultimately, to nuclear power with the same workforce and minimal changes to equipment. This provides immediate gas power to meet near-term needs while simultaneously fast-tracking a seamless and cost-effective transition to nuclear. Consumers get reliability without higher bills, and the State of Indiana attracts industry with access to an abundant, scalable energy supply.
In addition to tapping into Indiana's existing workforce, First American Nuclear will develop a comprehensive program to attract and retain talent through partnerships with Indiana's technical colleges and Universities, including tailored curricula, certifications, and apprenticeships. The program will build a pipeline of highly skilled local workers to support the manufacturing and operations of EAGL-1 nuclear components, and the deployment of these systems across the United States and around the world.
About First American Nuclear (FANCO)
FANCO is the only nuclear power provider capable of delivering clean and sustainable nuclear energy to customers at a cost comparable with gas, solar, or wind. The company was formed when a small cadre of the most experienced nuclear scientists in the country saw an opportunity to develop a Small Modular Reactor (SMR) unlike anything commercially available. The resulting EAGL-1 design is the only nuclear reactor in the U.S. cooled by lead-bismuth, a liquid metal alloy that has been used in the most successful nuclear systems abroad for decades. Lead-bismuth chemical properties are the key to overcoming the most arduous technical and operational challenges to practical and affordable commercial nuclear energy. In addition to a simplified design that requires 30% less hardware than other SMRs without sacrificing power, lead bismuth enables EAGL-1 to operate in a closed-fuel system. This means that spent fuel is continuously reprocessed and reused, eliminating 97% of long-lasting nuclear waste. FANCO established its headquarters in Indianapolis in 2025.
First American Nuclear Media Contact: [email protected]
State of Indiana Media Contact: [email protected]
SOURCE First American Nuclear Co.
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