The Large Energy Users Pledge was announced on March 12 at the CERAWeek energy conference in Houston, Texas. Big companies like Google, Amazon, and Meta have joined a pledge to triple nuclear energy use by 2050.

These tech giants have teamed up with Dow, Allseas, OSGE, and Occidental to push for more nuclear power. This is the first time major businesses outside the nuclear sector have publicly supported such a big nuclear expansion.

The pledge started in September 2023 and already has support from 31 countries, 14 major global banks, and 140 nuclear industry companies.

Nuclear Energy: A Reliable and Scalable Solution

Sama Bilbao y León, Director General of the World Nuclear Association (WNA), said,

“The unprecedented support announced today by some of the world’s most influential companies to at least triple global nuclear capacity by 2050 sends a clear signal to accelerate policy, finance and regulatory changes that enable the rapid expansion of nuclear power. The global shift towards more nuclear highlights this is the only way we’ll deliver the abundant firm clean energy required to power growth and innovation in technology, a host of other industries and the entire economy.”

The pledge highlights nuclear energy’s benefits like:

• Offering stable and reliable power 24/7.
• Not affected by weather conditions like wind or solar.
• Helps industries reduce costs and offers a steady supply of heat for factories and chemical plants.

Other notable companies who have also joined the nuclear pledge are Allseas, Bureau Veritas, Carbon3Energy, Clean Energy Buyers Alliance, Core Power, Dow, Fly Green Alliance, Lloyd’s Register, Occidental, OSGE, and Siemens Energy.

The WNA expects even more businesses to sign the pledge soon. Industries like maritime, aviation, chemicals, and hydrocarbons are showing more interest in nuclear energy.

Dow Energy & Climate Business Vice President Edward Stones said,

“Energy is the lifeblood of global manufacturing and therefore investing and expanding access to clean, reliable, cost-competitive nuclear energy is critical to industrial progress. Dow considers nuclear energy, especially the promising technology of advanced small modular nuclear, to be a long-term competitive source of safe, firm and clean energy.”

The Large Energy Users Pledge

The pledge highlights nuclear power’s role in energy security and economic growth. It calls for a stronger, more reliable energy system with nuclear alongside other clean energy sources.

Here’s a snapshot of the pledge.

Big energy users want to triple nuclear power by 2050 to meet rising energy needs and help economies grow. Their strategy also includes new reactors, including small modular reactors (SMRs) and advanced designs.

How Is Nuclear Power Shaping Global Energy Consumption?

Nuclear energy has been a critical part of the world’s power supply for decades. Today, it provides about 10% of global electricity, with over 400 reactors operating in more than 30 countries.

Some countries, such as France, depend on nuclear power for over 70% of their electricity. The United States and China are also increasing their nuclear capacity. They want to rely less on fossil fuels.

Compared to fossil fuel plants, nuclear power plants operate at a higher capacity factor. This means they produce electricity more efficiently and consistently.

While coal and natural gas plants may run at about 50–60% capacity, nuclear plants often reach 90% or higher. This makes nuclear energy one of the most reliable sources of electricity in the world.

However, some countries are rethinking their nuclear investments. Germany, for example, closed its last nuclear plants in 2023. But now, rising energy costs and supply worries have sparked talks about restarting nuclear programs.

• MUST READ: What Does the U.S. Need to Triple Its Nuclear Capacity by 2050? DOE Explains…

Why Tech Giants Want to Invest in Nuclear?

In 2023, nuclear power plants worldwide generated around 2,600 terawatt-hours (TWh) of electricity. As electricity demand continues to rise, countries are prioritizing nuclear energy as a reliable solution.

Countries such as the USA and China are leading nuclear expansion efforts, with multiple reactors under construction. It’s for the same reason that big companies like Google, Meta, Microsoft, Amazon, and Oracle are making this shift toward nuclear to reach their net-zero goals.

Explaining further, the growth of artificial intelligence (AI) is driving up energy use in data centers. Right now, they make up about 2% to 3% of total U.S. power consumption. This number could reach 9% by 2030. This rise is putting pressure on current power systems. As a result, tech giants are looking for new energy sources to meet their increasing demands.

To tackle these challenges, they are looking at nuclear energy, especially small modular reactors. The SMRs can be placed near data centers, ensuring a steady energy supply and reducing environmental impact.

More significantly, one of the biggest advantages of nuclear power is that it is a low-carbon energy source. Unlike coal and natural gas, nuclear reactors do not produce greenhouse gas emissions during operation.

• According to the International Energy Agency (IEA), nuclear energy prevents over 2 billion metric tons of CO2 emissions annually. This makes nuclear power an essential tool in the fight against climate change.

Google’s SMR Investments

Google is looking at nuclear energy to help meet its 2030 net-zero emissions goal, says CEO Sundar Pichai. The company is investing in clean energy, including solar and small modular nuclear reactors (SMRs).

In 2023, Google’s greenhouse gas (GHG) emissions reached 14.3 million tCO2e. This was a 13% increase from the previous year and a 48% jump from 2019. Emissions have been rising since 2020.

Thus, Google made a deal with Kairos Power in October 2025. They plan to build several SMRs to power AI data centers. The first reactor could be running this decade, depending on approvals. More reactors are expected by 2035. This move helps Google lower its carbon footprint while meeting the energy needs of its growing AI operations

Meta Bets on Nuclear for Reliable Clean Energy

Meta has been using 100% renewable energy for its global operations since 2020. Now, the company is exploring nuclear power to meet rising energy demands and support its AI and environmental goals.

Meta’s Urvi Parekh, Head of Global Energy, noted,

“As global economies expand, the need for a reliable, clean, and resilient energy supply is paramount. Nuclear energy, with its ability to provide continuous power, can help meet this rising demand. We’re excited to join alongside this multi-organisational effort with the Tripling Nuclear Pledge to reiterate our commitment to nuclear energy.”

On December 3, Meta announced plans to work with nuclear power developers. The company believes that nuclear energy provides a steady power supply unlike solar and wind energy, making it crucial for grid stability and AI workloads.

Since 2021, Meta has cut emissions by 16.4 million metric tons of CO2e through renewable energy. In 2023, its net emissions were 7.4 million metric tons.

In 2023 alone, the company’s renewable energy initiatives helped cut operational emissions by 5.1 MMTCO2e, while value chain emissions were reduced by 1.4 MMTCO2e. Thus, Meta is optimistic about hitting its net-zero target by adding nuclear energy to its clean energy portfolio.

Amazon’s SMR Strategy

Amazon is adding nuclear power to supply carbon-free energy to AWS data centers and is investing over $52 billion across three U.S. states as part of its massive data center expansion.

The company has signed three key deals to explore and build small modular reactors (SMRs). AWS CEO Matt Garman believes SMRs can provide scalable and reliable power for growing data needs.

In 2023, Amazon’s carbon footprint was nearly 69 million metric tons of CO2—lower than its 2021 peak but still significant.

AWS is working to reduce emissions, betting on SMRs. They hope nuclear could be a game changer, offering a sustainable energy source for the future.

Amazon Web Services’ Brandon Oyer, Head of Americas Energy and Water, said,

“Accelerating nuclear energy development will be critical to strengthening our nation’s security, meeting future energy demands, and addressing climate change. Amazon supports the World Nuclear Association’s pledge, and is proud to have invested more than USD1 billion over the last year in nuclear energy projects and technologies, which is part of our broader Climate Pledge commitment to be net-zero carbon by 2040.”

Global Investment in Nuclear Energy: 2050 Forecast

Notably, global investment in nuclear energy is set to rise. Right now, it’s about $65 billion each year. As per IEA, by 2030, it could hit $70 billion with current policies. Nuclear capacity is expected to grow by over 50% to nearly 650 GW by 2050.

Amazon, Meta, Google, and other companies that have joined the pledge are aware that even with better energy use, industries will still need a lot more power. However, nuclear projects require high upfront costs, long development times, and strict regulations. Despite these challenges, their long lifespan and low carbon emissions make them a strong choice for long-term energy planning.

• LATEST: Canada’s Nuclear Boom: Big Investments in CANDU and SMRs 

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The Environmental Protection Agency (EPA), under the Trump administration, canceled $20 billion in climate grants that were part of the Greenhouse Gas Reduction Fund (GGRF). This program was created under a previous administration’s climate law to support clean energy projects. The money was meant for community organizations, nonprofits, credit unions, housing agencies, and solar energy initiatives across the country.

How does this cancellation impact clean energy projects, emission reductions, and economic growth in affected areas? Let’s find out.

What Was the Greenhouse Gas Reduction Fund?

The GGRF was set up in 2022 as part of the Inflation Reduction Act. It was made to be a national green bank. It allocated $27 billion to the EPA for clean energy projects. These projects aim to lower greenhouse gas emissions.

The goal was to bring together public and private money to invest in clean energy, especially in low-income areas that are most affected by climate change.

The fund aimed to reduce pollution, boost energy efficiency, and create jobs. It focused on building clean energy infrastructure. It supported projects like installing residential heat pumps, improving home energy efficiency, setting up electric vehicle charging stations, and creating cooling centers in communities.

The “Solar for All” program aims to help over 900,000 low-income households access solar energy. This could save these families about $350 million each year on energy bills. 

EPA Pulls the Plug—But Why?

EPA Administrator Lee Zeldin announced the decision to cancel the grants, saying there were concerns about fraud, waste, and misuse of funds. He said the money went to nonprofits linked to politics. There wasn’t enough oversight, which raised questions about the program’s management.

Zeldin said in a video:

“This termination is based on substantial concerns regarding program integrity, objections to the award process, programmatic fraud, waste and abuse and misalignment with the agency’s priorities, which collectively undermine the fundamental goals and statutory objectives of the awards.”

The EPA had already put a freeze on the funds due to these concerns. After a review, the agency said it found “serious problems” that made it too risky to continue with the grants, so they decided to cancel them entirely.

Legal and Political Firestorms

The decision has led to legal action and political controversy. Three nonprofit groups, including the Climate United Fund, have sued the EPA and Citibank. They claim that stopping the payments breaks legal agreements.

Democrats have pushed back against the move, saying the EPA does not have the legal authority to cancel funding that was approved by Congress. Senator Sheldon Whitehouse said there was no real evidence of fraud and accused Zeldin of blocking money that was meant to help lower energy costs, create jobs, and reduce pollution.

The Justice Department and FBI are also looking into the program. A federal investigation into possible fraud has added to the debate over whether the EPA was justified in canceling the grants.

Impact on Emission Reductions and Net-Zero Goals: A Setback for Climate Progress?

Canceling these grants could slow down efforts to cut pollution and meet net-zero goals. The GGRF was supposed to help fund projects that reduce greenhouse gas emissions. Without this money, some of those projects may not happen, making it harder for the U.S. to move toward a cleaner energy future.

Who Loses the Most?

The GGRF aimed to support disadvantaged communities. These areas often face high pollution levels and lack resources for clean energy. Many areas will get funding for projects. This includes solar panel installations, home energy upgrades, and new transportation options. Without this money, these communities might find it hard to cut emissions and lower energy costs.

Clean Energy Takes a Hit

Withdrawing $20 billion in funding could slow the growth of clean energy infrastructure. Many projects, such as expanding electric vehicle charging networks and installing energy-efficient systems in homes and businesses, depend on federal support. 

Billions Lost, Jobs at Risk

Beyond environmental concerns, canceling the grants could have economic effects. The GGRF-backed clean energy projects aimed to create jobs, boost local economies, and lower energy costs for consumers.

Without funding, some benefits might vanish. This could harm jobs and slow economic growth in communities that needed support.

Pulling back these grants could also make investors hesitant to put money into clean energy projects. Private companies often get government help to lower risks in big infrastructure projects.

The sudden policy change might make investors uncertain about future government commitments, which could reduce financial backing for renewable energy projects.

Judge to EPA: Show the Receipts

A U.S. judge has demanded that the Trump administration provide evidence of fraud, waste, and abuse to justify terminating the $20 billion in climate grants from the Greenhouse Gas Reduction Fund.

U.S. District Judge Tanya Chutkan ordered the administration to submit a sworn statement by Monday detailing the alleged wrongdoing. During a hearing, she criticized government lawyers for failing to present any proof of misconduct.

The Climate United Fund seeks an emergency order to release the funds, warning that it may run out of money by Friday. EPA Administrator Lee Zeldin has defended the decision, stating that the program did not align with the agency’s priorities.

In a separate move, the EPA announced plans to shut down its Office of Environmental Justice and Civil Rights, which advocates say could harm minority and low-income communities affected by pollution.

What’s Next?

The EPA’s decision to cancel $20 billion in climate grants from the Greenhouse Gas Reduction Fund has major consequences. It disrupts funding for key clean energy projects, especially in low-income areas. This could slow progress in cutting pollution and achieving net-zero emissions.

The legal battles, economic effects, and delays in clean energy projects highlight the challenges of this decision. As the situation unfolds, both government and private organizations will have to find ways to move forward and ensure that clean energy goals remain a priority if the country seeks to achieve its climate goals. 

• READ MORE: Clean Energy Investment Hits $2.1 Trillion: A Step Closer to Net Zero or a Missed Mark?

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Chevron Corporation is stepping into data center power generation. The company is focusing on locations with easy access to natural gas and lower carbon intensity. Chevron CEO Mike Wirth revealed and discussed these plans at the CERAWeek energy conference by S&P Global in Houston.

Hyperscale companies want off-grid power sources to speed up their market entry. This makes Chevron’s proposed facilities very crucial. Wirth highlighted,

“One of the criteria in site selection will be access to gas. It will also be proximity to carbon capture and storage capacity, access to renewables, potentially off the grid, access to geothermal or potentially hydrogen, so we’re looking for ways to reduce the carbon intensity over time.”

Chevron aims to develop these facilities in key U.S. regions like the Southeast, Midwest, and West. The company plans to place power plants near data centers. This will help ensure reliable energy and lessen reliance on the grid.

Chevron, Engine No. 1, and GE Vernova To Power U.S. Data Centers

In January, Chevron announced a partnership with Engine No. 1 LP. Together, they will develop gas-fired power plants designed for U.S. data centers.

These “power foundries” will use GE Vernova’s 550-MW 7HA gas turbines and will deliver up to four gigawatts of power, equivalent to powering 3-3.5 million U.S. homes. Deliveries will start in 2026, and Chevron expects power generation to begin by late 2027.

Chris James, founder of Engine No. 1, stressed the importance of energy in AI growth.

 “Energy is the key to America’s AI dominance. By using abundant domestic natural gas to generate electricity directly connected to data centers, we can secure AI leadership, drive productivity gains across our economy and restore America’s standing as an industrial superpower. This partnership with Chevron and GE Vernova addresses the biggest energy challenge we face.”

These gigawatt-scale power solutions will help data centers that need quick setup and dependability. The initial design keeps these plants off the grid but can be integrated in the future. Consequently, this will reduce strain on the grid and lower consumer electricity price risks. Future expansions could increase capacity, providing reliable power for U.S. AI data centers.

The press release further revealed that a key part of Chevron’s initiative is integrating lower-carbon solutions over time. The power plants will use carbon capture and storage (CCS) technology that can potentially remove 90% of CO2 emissions from gas turbines. Notably, these facilities might use renewable energy sources such as solar, wind, and hydrogen. This will help reduce carbon intensity even more.

• LATEST: Power Surge: Can Carbon Capture Keep Up with AI’s Energy Demand?

Natural Gas and CCUS: Future Outlook

The Net Zero Emissions (NZE) Scenario predicts gas demand will peak soon and drop 30% by 2030 to 3,300 bcm.

By 2050, demand could fall 70% from 2021 levels to 1,200 bcm, with 40% used for hydrogen production with CCUS. Despite falling demand, continued investment is needed to sustain supply. The NZE Scenario estimates $200 billion per year until 2030, then $85 billion annually.

The NZE Scenario promotes policies for CCUS investment.

• By 2050, CCUS could capture 6.2 Gt of CO₂, helping cut emissions in industries like cement and data centers.

AI Boom Fuels Natural Gas Surge

AI and cloud computing are increasing energy use. So, securing stable power sources is now essential. Traditional grid systems can’t keep up, so companies look for direct energy solutions.

S&P Global further noted that analysts predict U.S. data centers could demand an extra 3-6 Bcf/d of gas by 2030. However, the exact role of gas in this growth is unclear and could be due to an increase in renewable energy investments.

Chevron’s natural gas production is already increasing. In Q4 2024, the company averaged 2.74 Bcf/d, with full-year production reaching 2.68 Bcf/d—up 27% from 2023.

The Permian Basin remains a major source, producing 20.5 Bcf/d in 2024, an 80% increase over five years. By 2028, production could exceed 24 Bcf/d, solidifying the region’s role in the energy landscape.

Fluctuating Permian gas prices have also shaped Chevron’s strategy. According to data from Platts (a part of Commodity Insights), in 2024, Waha Hub prices in West Texas often fell below zero due to pipeline issues, averaging just 2 cents/MMBtu.

Chevron plans to redirect excess gas to power foundries. This approach captures value and supports AI growth.

Chevron’s Power Shift: Merging Energy, AI, and Sustainability

Chevron is transforming energy infrastructure with its move to behind-the-meter power generation. This shift goes beyond AI and data centers, driving a broader push toward localized power production.

The joint venture will create thousands of jobs and boost U.S. reindustrialization. Chevron’s power plants will also sell excess electricity back to the grid that will further boost stability. This model balances immediate AI-driven power needs with long-term grid support.

The oil giant’s endeavors don’t end here. As per its sustainability report, the company is investing $8 billion in lower-carbon energy projects from 2021 to 2028, focusing on renewable fuels, carbon capture, hydrogen, and offsets. It is also committing an additional $2 billion to cut 4 million metric tons of emissions annually within its operations.

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Rio Tinto has completed its $6.7 billion acquisition of Arcadium Lithium in the U.S. The Royal Court of Jersey approved the deal on March 5, officially making Arcadium Lithium a part of Rio Tinto Lithium. This acquisition also brings the Rincon lithium project into Rio Tinto’s growing portfolio.

Rio Tinto’s Big Bet on Arcadium Lithium

• With this acquisition, Rio Tinto aims to grow the capacity of its Tier 1 assets to over 200 thousand tonnes per year of lithium carbonate equivalent (LCE) by 2028.

Furthermore, it expects strong growth, higher EBITDA, and improved cash flow in the coming years. It will deploy advanced technologies and its strong global hold to boost its market presence in the lithium sector.

Explaining more, Rio Tinto Chief Executive Officer Jakob Stausholm said,

“Today we are delighted to welcome the employees of Arcadium to Rio Tinto. Together, we are accelerating our efforts to source, mine and produce minerals needed for the energy transition. By combining Rio Tinto’s scale, financial strength, operational and project development experience with Arcadium’s Tier 1 assets, technical and commercial capabilities, we are creating a world-class lithium business which sits alongside our leading iron ore, aluminium and copper operations. We believe we are well-positioned to deliver the materials needed for the energy transition while maintaining our focus on.”

As part of the agreement, Arcadium Lithium shareholders will receive $5.85 per share. To fund the purchase, Rio Tinto is using a bridge loan facility, which it plans to replace with long-term debt financing.

Following the acquisition, Arcadium Lithium’s shares and CHESS Depositary Receipts (CDIs) will be delisted from the New York Stock Exchange (NYSE) and the Australian Securities Exchange (ASX).

Other than Acradium Lithium, Rio Tinto invested $2.5 billion in the Rincon project in Argentina, which was approved last year in December 2024.

This expansion will increase the site’s annual capacity to 60,000 tonnes of battery-grade lithium carbonate. Additionally, it also includes a 3,000-tonne starter plant and a larger 57,000-tonne facility.

Construction is set to begin in mid-2025, after all permit approvals. After a three-year ramp-up, full production is expected by 2028. The Rincon mine will operate for 40 years while maintaining a low-cost position in the industry.

Navigating the Lithium Storm

The ongoing decline in lithium prices has sparked strong industry reactions. Some mining companies are delaying new projects, while others are cutting costs to stay profitable. Smaller lithium miners are feeling the most pressure. Without strong financial backing, many are struggling to survive. Some have even halted operations or are seeking mergers to stay afloat.

Notably, major producers like Albemarle and SQM plan to cut production, hoping to prevent further price drops and stabilize the market.

However, with these two massive lithium deals, Rio Tinto is consolidating its position in the global lithium market. Notably, the Acardium acquisition occurred amid an excess supply and significantly lower prices since their peak in 2022.

Rio Tinto’s Net Zero Goals 

Rio Tinto has set ambitious targets to cut Scope 1 and 2 emissions by 50% by 2030 (compared to 2018 levels) and to achieve net-zero emissions by 2050. Its latest sustainability report revealed:

• 2024 gross Scope 1 and 2 emissions: 30.7 Mt CO2e
• 2024 emissions reduction: 3.2 million tonnes of CO2e through renewable energy contracts
• Projected additional reductions by 2030: 3.6 million tonnes per year

To reach these goals, Rio Tinto has signed major renewable power purchase agreements and invested in solar and wind energy projects.

Additionally, the company is committing $143 million in Western Australia to develop BioIron™, an innovative ironmaking process that could slash CO2 emissions by up to 95% compared to traditional blast furnace methods.

Roadmap to a Greener Future

Rio Tinto’s comprehensive strategy to achieve its 2030 emissions target includes transitioning to renewable electricity and reducing process heat emissions at its alumina refineries. A key priority is cutting emissions at its Pacific Aluminium operations, particularly at the Boyne and Tomago smelters.

The company is also advancing other sustainability initiatives:

• Richards Bay Minerals: Expanding renewable energy contracts
• Queensland Alumina Limited (QAL): Improving alumina processing efficiency

Expanding the Use of Carbon Credits

To meet its 2030 net emissions target, Rio Tinto plans to use high-quality carbon credits from nature-based solutions. These credits will be capped at 10% of the company’s 2018 baseline emissions.

Most of these credits will come from Australian Carbon Credit Units (ACCUs), supporting compliance with the country’s Safeguard Mechanism. Rio Tinto remains committed to transparency in its emissions reporting. The company will clearly distinguish between its gross operational emissions and net emissions while also disclosing the volume and type of carbon credits used.

Advancing Carbon Capture and Mineralization Technologies

Rio Tinto is actively developing innovative ways to capture and store carbon emissions from fossil fuel use. In 2024, the company focused on identifying the most effective methods to capture low-concentration CO2 from aluminum smelters’ flue gas.

This effort includes adapting direct air capture for higher CO2 levels and modifying point-source technologies for lower concentrations, though both approaches remain in early development stages.

In early 2025, Rio Tinto partnered with Hydro to evaluate carbon capture technologies for aluminum emissions. Additionally, its collaboration with Carbfix is in the pipeline. They plan to begin CO2 mineralization at the ISAL site by 2028.

Meanwhile, at the Tamarack project in Minnesota, Rio Tinto recently completed a 1,137-meter exploratory well to assess the mineralization potential of local rock formations.

By investing in sustainable solutions and advanced technologies, the company is paving the way for a low-carbon future. Lastly, when the market rebounds, Rio Tinto will be ready to meet rising demand with a stronger and more diverse lithium portfolio.

• FURTHER READING: Lithium Prices Crash Below $10K, Hitting a 4-Year Low: Will the Market Rebound?

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