Momentum Power Appoints Renowned Investor John Paulson to Board of Directors and Announces Closing of An Investment from Mr. Paulson

Veteran hedge fund manager brings decades of capital markets expertise to support Momentum Power's next phase of growth

NEW YORK, Sept. 24, 2026 /PRNewswire/ -- Momentum Power today announced the appointment of John Paulson, Founder and President of Paulson & Co., to its Board of Directors, effective immediately. The company also announced the closing of an investment by Paulson, a significant endorsement of Momentum Power's vision, leadership, and long-term strategy.

Momentum Power is developing standardized, modular seafloor nuclear reactors, factory-made and shipyard-assembled. Using the ocean as an unlimited natural heat sink, the reactors are designed to eliminate cooling towers and on-site concrete, removing the heavy civil construction that drives the cost and schedule of conventional land-based reactors. Momentum Power was co-founded by world-renowned nuclear scientist Dr. Ju Li. Dr. Li is Chief Scientist of Momentum Power and Professor of Nuclear Science and Engineering, Materials Science and Engineering, and Carl Richard Soderberg Professor in Power Engineering at MIT. "By developing factory-made nuclear modules utilizing existing technology and locating the modules on the ocean floor, Momentum Power has the potential to dramatically reduce the cost of nuclear power and accelerate its adoption," said John Paulson.

Paulson brings decades of investment and capital markets experience to the Board. He built Paulson & Co. into one of the largest hedge funds in the world, and currently is President of Paulson Capital, a private investment and trading company.

The investment will be used to accelerate the development and commercialization of Momentum Power's seafloor nuclear power technology, advance engineering and regulatory activities, and expand the company's capabilities as it moves toward deployment. The investment positions Momentum Power to capitalize on rapidly growing demand for reliable, scalable power from data centers, utilities, industrial customers, and other energy-intensive sectors.

"John Paulson is one of the great investment minds of our time, and his decision to invest and join our Board of Directors is a powerful validation of everything we are building at Momentum Power," said Jose Gutierrez, co-CEO of Momentum Power, and former CEO of Westinghouse Electric. "John's expertise at the highest levels of finance will be invaluable as we enter our most ambitious chapter yet."

Paulson holds a B.A. in Finance, summa cum laude, from New York University and an M.B.A. from Harvard Business School, where he was a Baker Scholar. He is widely recognized for his philanthropy, including a $400 million gift to Harvard, which renamed its engineering school the Harvard John A. Paulson School of Engineering and Applied Sciences, and a $100 million gift to New York University supporting the John A. Paulson Center.

About Momentum Power

Momentum Power is developing seafloor modular nuclear reactors designed to deliver clean, safe, and scalable energy faster and at significantly lower cost than traditional land-based plants. The company brings together expertise spanning MIT, Westinghouse, Microsoft, and public company infrastructure finance. Momentum Power is headquartered in New York City.

Visit www.momentum-power.com   

SOURCE Momentum Power