In an announcement that stunned both the tech and energy industries, Oracle’s co-founder and executive chairman, Larry Ellison, revealed ambitious plans to use nuclear power to advance artificial intelligence (AI) in Oracle.

At the Oracle Financial Analyst Meeting 2024, Ellison disclosed the company’s intention to build data centers powered by small modular nuclear reactors. This bold step signifies the fierce competition and massive costs required to advance AI technology in today’s era.

Ellison’s Bold Power Play — Nuclear Energy Fuels Oracle’s AI Ambitions

Oracle’s venture into nuclear energy underscores the extraordinary resource demands of cutting-edge AI.

According to Ellison, the power required for training frontier AI models is vast and extraordinary. The company plans to construct data centers with “acres” of GPU clusters, needing a gigantic energy supply to operate efficiently. Ellison’s strategy to utilize nuclear reactors ensures a steady, scalable power source to support these energy-hungry systems.

During the session, he spoke,

“If your horizon is over next five years, maybe even the next ten years I wouldn’t worry about it. This business is just growing larger and larger and larger. There is no slowdown or shift coming.”

The tech leader further stated that only a few major tech companies, and potentially even one nation, will compete for dominance in AI model development over the coming years. He emphasized that staying competitive in this high-stakes AI race will come with a hefty price tag.

Oracle’s choice to embrace nuclear energy marks a major change in how tech companies tackle their rising energy demands. Their strategy may inspire competitors to look for similar solutions, potentially transforming the future of both the tech and energy industries.

READ MORE: New Report Reveals Nuclear Power Generation Hits New Highs 

A MESSAGE FROM URANIUM ROYALTY CORP.

The Only Pure Play Uranium Royalty Company

Uranium Royalty Corp is the first company to apply the successful royalty and streaming business model exclusively to the uranium sector.

With interests in advanced, permitted and producing uranium projects, the company is well positioned as a capital provider to meet the growing need for uranium as fuel for carbon free, nuclear energy. Learn more about Uranium Royalty Corp’s portfolio of royalty assets and uranium holdings.

Discover their first mover pure-play uranium royalty exposure >>

NASDAQ: UROY | TSX: URC
*** This content was reviewed and approved by Uranium Royalty Corp. and is being disseminated on behalf of Uranium Royalty Corp. by CarbonCredits.com for commercial purposes. ***

The AI Arms Race and the $100 Billion Price Tag

Ellison made it clear that staying competitive in the AI race will not be cheap. He estimated that companies looking to build frontier AI models would need to invest around $100 billion over the next three to five years. The enormous investment reflects the exponential growth in computational power required to push the boundaries of AI capabilities.

This staggering price tag is a wake-up call for the tech industry, highlighting the capital-intensive nature of AI research and development. It’s a clear signal that the widening gap between bigger players and smaller players is evident, as only those with massive resources can afford to keep pace.

Oracle is not just talking about powering its data centers; it’s already laying the groundwork. He noted,  

“Today, Oracle has 162 cloud data centers, live and under construction throughout the world. The largest of these data centers is 800 megawatts, and it will contain acres of Nvidia GPU clusters able to train the world’s largest AI models”

This massive facility can support the development of advanced AI models, some of which Ellison hinted may surpass the capabilities of existing supercomputers, including xAI’s new supercluster, Colossus.

Building the Nuclear Infrastructure

Oracle is also planning a data center requiring over one gigawatt of electricity, that will rely exclusively on nuclear power. Ellison believes that much power is sufficient to meet the substantial processing needs of Oracle’s upcoming projects including creating Colossus.

Currently, the company has secured building permits for three small modular reactors, that estimate the scale of the project. Ellison’s description of the project’s complexity gives a glimpse into the enormous challenges that lie ahead for Oracle and other companies vying for AI dominance.

As the AI arms race intensifies, Oracle’s decision to integrate nuclear power into its infrastructure strategy could revolutionize how tech companies meet their energy demands. By securing a reliable and clean power source, Oracle is positioning itself as a leader in AI development, capable of tackling the massive computational requirements needed for training advanced models.

Tech leaders, industry pundits, and energy companies predict that more companies will explore novel energy solutions to keep pace with the rising demands of AI in the future. Whether it’s nuclear, renewable energy, or a hybrid approach, power consumption will become a defining factor in the race for AI supremacy.

Oracle’s Revenue Boom Fuels Ambitious Nuclear Investment

Oracle reported its fiscal 2025 Q1 results recently indicating strong growth. The company’s total quarterly revenues increased by 7% year-over-year in USD, reaching $13.3 billion, and rose 8% in constant currency. Cloud services revenues saw a 21% jump year-over-year in USD, climbing to $5.6 billion, with a 22% increase in constant currency. Additionally, cloud and on-premise license revenues grew by 7% in USD, hitting $870 million, and were up 8% in constant currency.

The company’s earnings are a clear reflection of what Larry hinted at—it’s truly a case of survival of the fittest. His announcement is not just a revelation of Oracle’s future plans but a signal for the entire tech universe.

His theory is straightforward: to compete, you must make bold moves, like investing in nuclear power for AI. Oracle’s approach highlights that success now demands major investments in both technology and energy. This way companies can secure their energy supply and seamlessly perform computational services.

Interestingly, it’s not just Ellison who is envisioning nuclear power. Bill Gates’s company TerraPower, is also constructing a Natrium reactor and energy storage system in Kemmerer, Wyoming. The project, which has secured substantial funding from the DOE and is set to be completed by 2030, will have a capacity of 500 megawatts.

Gates emphasized that this investment in nuclear is a significant step toward achieving safe, abundant, zero-carbon energy, and its success is crucial for America’s future.

Net Zero Plans and Carbon Emissions 

Oracle has set an ambitious target to reach net zero emissions by 2050 and reduce its greenhouse gas emissions to 50% including both operational and supply chain, by 2030 compared to a 2020 baseline. The sustainability report reveals that this target has been endorsed by the Exponential Roadmap Initiative, an accredited partner of the United Nations Race to Zero.

Moreover, the company has committed to achieving 100% energy usage from renewable sources for both its Cloud Infrastructure (OCI) and Real Estate & Facilities (RE&F) operations by 2025. Additionally, they aim to reduce waste to landfill per square foot by 33% and cut air travel emissions by 25% within this timeline.

Here’s a peek into their energy use and carbon emissions for 2022.

source: Oracle

In conclusion, Oracle’s move into nuclear-powered data centers marks a pivotal step in AI development. This bold strategy highlights the immense resources needed to compete and suggests that tech companies must now innovate beyond software and hardware to lead in the AI race.

FURTHER READING: Nvidia Is the World’s Most Valuable Company, Giving Nuclear Power A Big Lift

The post Larry Ellison’s $100 Billion Bet: Nuclear Power to Drive Oracle’s AI Revolution appeared first on Carbon Credits.

According to Abatable’s VCM Investment Attractiveness Index, Colombia, Kenya, Cambodia, Mexico, and Peru are the top five countries for carbon credit investors in 2024. The Index, released during Climate Week NYC, ranks countries based on their attractiveness for voluntary carbon market (VCM) investments.

The ranking considers factors such as regulatory advances, market readiness, project opportunities, and ability to shape future carbon markets.

Abatable is a top provider of carbon market solutions, offering tools to help businesses navigate carbon markets, find the right partners, assess market risks, and boost environmental impact.

Abatable co-founder Maria Eugenia Filmanovic explained that their approach also considers a country’s potential for impact on climate, nature, and people. Valerio Magliulo, Abatable’s CEO and co-founder emphasized that as the carbon market landscape evolves, access to reliable data is essential for making informed investment decisions. He further noted that:

“The VCM Investment Attractiveness Index is a critical  tool that helps democratize carbon market data for the benefit of participants across the market,  enabling them to make informed decisions and navigate the VCM, ultimately helping to scale  the market as a whole.”

Regulatory Progress in Carbon Market Drives Rankings

The top-ranked countries owe their success largely to their regulatory progress. For example, Colombia’s carbon tax has significantly boosted market activity. Its new regulatory framework and national carbon registry attract significant interest from carbon investors. 

Colombia, one of the world’s 17 megadiverse nations, is home to a significant portion of Earth’s species, largely due to its share of the Amazon rainforest. This rich biodiversity has helped the country become a global leader in nature-based solution (NBS) carbon credits, with 142 million tonnes issued since the market’s start.

The South American nation has also excelled in the global carbon market, using a mix of compliance mechanisms and VCMs to showcase an innovative approach to carbon pricing.

Similarly, Kenya’s 2024 carbon market regulation created a more favorable environment for carbon project development and investment. The country has recently approved carbon market policies that create an investor-friendly environment and facilitate Article 6 compliance with the Paris Agreement, ensuring stable growth in the carbon credit supply.

Their regulatory foundation positions Colombia and Kenya as key players in the global carbon market. 

Key Insights From 2024 VCM Investment Index

VCM Index score – Global overview

Abatable VCM Investment Index uses 3 pillars and 24 indicators to assess the carbon market landscape, specifically analyzing the following aspects:

investment potential, 
national readiness for carbon trading, and 
opportunities for improving environmental and social conditions. 

Notable movements in the rankings include Colombia leaping 13 places to first and Cambodia jumping to third. 

The Index also reflects the volatility and complexity of the carbon credit market, with some countries advancing due to groundwork for Article 6 of the Paris Agreement, which allows carbon trading between nations.

Countries like Madagascar, Zambia, and Brazil have also gained prominence due to significant regulatory advancements and an increase in carbon credit supply. These nations have benefitted from early engagement with Article 6, offering investors a first-mover advantage in these evolving markets. 

Brazil, for instance, jumped 33 spots due to its surge in carbon credit availability, highlighting its growing role in the market. Big tech companies, including Google, Meta, Microsoft, and Amazon, are pouring millions into Brazil’s carbon credit initiatives. 

READ MORE: Amazon and Five Others Commit $180 Million in Brazil’s Amazon Carbon Credit Deal

Looking Ahead: Growth in Compliance Schemes and Restoring VCM Confidence

The Index also underscores the impact of compliance schemes with integrated carbon credit mechanisms on a country’s attractiveness for investments. Countries are increasingly adopting such schemes to meet ambitious international climate targets and respond to mechanisms like the EU Carbon Border Adjustment Mechanism.

Within the voluntary carbon market, challenges abound over the past two years. Certain carbon projects are scrutinized but a renewed focus on carbon removal initiatives is rebuilding trust. 

Filmanovic highlighted that Abatable’s Index has been received positively by investors, serving as an important tool in shaping investment sentiment. The growing interest in Article 6.2 credits—allowing cross-border trading of emissions reductions—is seen as a sign of recovery for the market.

RELATED: Nations Strike First-Ever “ITMO” Emissions Trading

The post Top Countries for Carbon Credit Investments in 2024: Colombia Ranks 1st appeared first on Carbon Credits.

The goal of reaching net zero emissions by 2050 is widely recognized, but the path to get there is complex. With rising electricity demand driven by data centers, electric vehicles, and cleaner industrial processes, we need reliable, carbon-free power. 

The U.S. Department of Energy (DOE) predicts that an additional 200 GW of nuclear capacity will be required by 2050 to meet this demand. Fortunately, a significant portion of this capacity could come from an unexpected but familiar source—existing and retired nuclear plant sites.

Tapping Into Existing Nuclear Power Infrastructure

A new DOE report suggests that 60 to 95 GW of new nuclear capacity could be added by using sites of 54 operational and 11 recently retired nuclear plants across 31 states. 

By examining each site’s footprint, cooling water availability, seismic risks, and proximity to population centers, the DOE’s researchers found that these locations hold great potential for future reactor deployment.

The Grand Gulf Nuclear Station in Port Gibson, Mississippi, has the largest U.S. nuclear reactor. With a net summer electricity generation capacity of about 1,400 MW.

*** The US has 93 operating commercial nuclear reactors at 54 nuclear power plants in 28 states. The Grand Gulf Nuclear Station in Port Gibson, Mississippi, is the largest nuclear reactor in the United States.

The study’s analysis identified 41 operating and retired sites that have the space for large light-water reactors like the AP1000 reactors in Georgia. These sites could host up to 60 GW of new capacity. 

Moreover, smaller advanced reactors with 600 MW capacity could raise that potential to 95 GW, offering a flexible solution to meet future energy needs.

From DOE study

A MESSAGE FROM URANIUM ROYALY CORP.

The Only Pure Play Uranium Royalty Company

Uranium Royalty Corp is the first company to apply the successful royalty and streaming business model exclusively to the uranium sector.

With interests in advanced, permitted and producing uranium projects, the company is well positioned as a capital provider to meet the growing need for uranium as fuel for carbon free, nuclear energy. Learn more about Uranium Royalty Corp’s portfolio of royalty assets and uranium holdings.

Discover their first mover pure-play uranium royalty exposure >>

NASDAQ: UROY | TSX: URC

*** This content was reviewed and approved by Uranium Royalty Corp. and is being disseminated on behalf of Uranium Royalty Corp. by CarbonCredits.com for commercial purposes.

Why Existing Sites Are Ideal for New Reactors

Building new reactors at existing or retired nuclear sites makes both economic and community sense. Many nearby residents already view nuclear energy as a positive presence, given its benefits. These include jobs with wages 30% higher than local averages and tax revenues that enhance schools and infrastructure. 

Moreover, nuclear power plants are generally seen as “good neighbors,” which increases the likelihood of community support for new projects.

Image from DOE website

Regulatory Pathways to Speed Up Deployment

Another advantage of building at existing sites is that many have already engaged with the Nuclear Regulatory Commission (NRC) for additional reactors in the past. Although 17 reactors were planned but never built, these sites were thoroughly evaluated. Plus, eight of these sites even received construction and operating licenses (COLs). Leveraging these previous regulatory engagements could significantly speed up the licensing process, potentially saving both time and capital on future builds.

According to the report, 24 GW of clean energy could have been added through these planned reactors. By revisiting these sites and fast-tracking approval processes, the United States could accelerate the deployment of much-needed clean energy infrastructure.

Expanding Nuclear Capacity Beyond Existing Sites

The DOE report also explored another promising avenue for expansion—building nuclear power plants near coal power plant (CPP) sites. These locations offer another 128 to 174 GW of nuclear capacity potential, depending on reactor type. This potential capacity represents replacement power for existing/recently retired coal power plants to lower carbon emissions. 

RELATED: US Targets 200 GW Nuclear Expansion to Meet Soaring Energy Demand

Transitioning from coal to nuclear at these sites could bring substantial economic and environmental benefits by leveraging the existing workforce and infrastructure in these energy communities.

The analysis of the 145 CPP sites suitable for nuclear development produced the following data for potential siting:

79% could site a large 1,117 MWe LWR (light-water reactor)
94% could site a large 1,000 MWe LWR 
100% could site a generic 600 MWe reactor technology 

The Road Ahead for Nuclear Power

While the findings from the DOE’s report are encouraging, it’s important to recognize that they are preliminary. A great deal of collaboration will be required between utilities, communities, and policymakers to determine the viability of building new reactors. 

One of the most significant barriers to deployment will be capital costs, which have historically been a challenge for nuclear energy projects.

To address this, the DOE has developed a new tool aimed at quantifying capital cost reductions for new reactors. This tool will help stakeholders identify strategies to lower costs, making nuclear power a more feasible solution to meet future energy demands.

As the world works toward a net zero future, nuclear power has the potential to play a crucial role. By tapping into existing infrastructure, speeding up the licensing process, and exploring coal-to-nuclear transitions, the U.S. can significantly expand its clean energy capacity. 

READ MORE: How Nuclear Energy in the U.S. Got Its Groove Back, Poised to Soar in 2024

With the launch of new tools and ongoing research, the path forward for nuclear energy is becoming clearer. Stay updated for more updates on how nuclear power can help achieve the earth’s 2050 emissions goals.

The post How Retired Nuclear Power Sites in the U.S. Could Fuel Net Zero by 2050 appeared first on Carbon Credits.

Northern Lights Project- The JV between Shell, Equinor, and TotalEnergies for the carbon capture and storage (CCS) facility in Øygarden, Norway is now ready to receive CO2 from industries in Norway and Europe. This was a moment of celebration for the Norway Government with Northern Lights becoming the first to offer commercial CO2 transport and storage services in the region.

Terje Aasland, Norwegian Minister of Energy.

“Today’s ceremony marks a significant milestone—one that fills us with great pride and hope for the future. This is a proud moment not just for Northern Lights as a company, but for Norway and for the advancement of Carbon Capture and Storage (CCS) worldwide”.

Northern Lights JV Powers Norway’s Full-Scale CCS Project

The Northern Lights project plays a pivotal role in Norway’s ambitious Longship initiative, a full-scale CCS project that was rolled out in 2020. It focuses on capturing CO2 from industrial sources and storing it permanently under the seabed in the North Sea.

Tim Heijn, Managing Director of Northern Lights JV.

“Today we achieved an important milestone on our journey to demonstrate CCS as a viable option to help achieve climate goals. The whole world is looking to Norway to learn about CCS. Since construction started, we have welcomed more than 10,000 visitors from more than 50 countries. Today we celebrated the completion of the facilities together with the people of our host municipality Øygarden, the Norwegian Ministry of Energy, and key stakeholders, including policymakers and industry partners in the CCS chain. All are instrumental for the success of Northern Lights and the CCS business in Europe”.

Source: TotalEnergies

READ MORE: Microsoft Teams Up with Aker Carbon Capture and CO280 to Boost CDRs

CO2 Journey: From Capture to Storage

Grete Tveit, Senior Vice President of Low Carbon Solutions at Equinor remarked,

“This is an exciting day for Equinor, Northern Lights Joint Venture, and our partners Shell and TotalEnergies. We are proud that Northern Lights, as part of the Longship value chain, has now been completed and is ready to receive CO2. It is an important milestone in the work of establishing a Carbon Capture and Storage value-chain in Europe.”

The process begins with CO2 capture from various industrial sites, including the Brevik cement plant owned by Heidelberg Materials in southern Norway. Here’s how Northern Lights manages the entire transport and storage journey:

CO2 is captured and liquefied at the industrial facilities.
It’s shipped to the Øygarden terminal, which features 12 large metal tanks for temporary storage.
The terminal temporarily holds 7,500 cubic meters of liquefied CO2, delivered by custom-built ships.
From there, CO2 travels through a 110-kilometer pipeline to a permanent storage site.

The offshore storage location, 2,600 meters below the seabed, ensures long-term CO2 containment in a rock formation.

The storage capacity can handle large volumes of CO2, with Phase 1 capable of injecting 1.5 MMTs annually, amounting to a total of 37.5 MMTs over 25 years. In Phase 2, the project plans to increase its capacity by an additional 3.5 MMTs per year, significantly boosting its ability to store CO2 from industrial sources.

Source: Equinor

Project Collaboration and Investment

As Northern Lights pioneers commercial CO2 transport and storage, it’s playing a key role in Norway’s strategy to reduce emissions and lead global efforts in decarbonization.

Partners Share: TotalEnergies (33.3%), Equinor (33.3%), Shell (33.3%)

Carbon Emissions in Norway

“This has been a long journey, with partners Shell, TotalEnergies and Equinor working together to deliver as planned despite the pandemic, supply chain challenges and a strained global economy. The Norwegian authorities have also taken an important role in the realization of this ground-breaking project. I believe that we are helping to create something that can have a major impact on how Europe can meet the Paris goals.”

Anna Mascolo, Executive Vice President of Shell Low Carbon Solutions, praised the joint venture, expressing her satisfaction that the Northern Lights facilities are now prepared to receive CO2 from industrial sites throughout Europe. She emphasized that this development is a vital component of Shell’s integrated offerings for its customers.

TotalEnergies Offers Cutting-Edge Tech Support

Let’s look at what Arnaud Le Foll, Senior Vice-President New Business – Carbon Neutrality at TotalEnergies speaks on the JV.

“We are proud to celebrate today the commissioning of the Northern Lights facilities. It has been a long journey since our partnership with the Norwegian State, Equinor and Shell was established in 2017. This major milestone signals the readiness of the infrastructure to store CO2 and we look forward to receiving the first volumes from hard-to-abate emitters in 2025. This will bring a strong contribution to the decarbonization of European industry.”

TotalEnergies focuses on cutting emissions by applying the best technologies across its operations. The company develops CCS projects to manage excess carbon dioxide. It is competent in project management, gas processing, and geosciences. With the Northern Lights Project in Norway, Aramis in the Netherlands, and Bifrost in Denmark it is actively helping decarbonize Europe.

FURTHER READING: SLB to Acquire 80% of Aker Carbon Capture: A Massive Boost for CCUS

The post The “Northern Lights” Shines: Shell, Equinor, and TotalEnergies JV Powers the Norway CCS Project appeared first on Carbon Credits.