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Alva Energy has launched with $33 million in funding, aiming to unlock 10 gigawatts of new electric power from existing U.S. nuclear reactors. The company plans to enhance generation capacity by 200-300 MWe per reactor through retrofitting, providing a cost-effective solution compared to new nuclear construction.

The funding led by Playground Global will support project advancements and regulatory approvals. Alva aims to deliver clean energy efficiently to meet rising industrial demands, particularly for AI data centers.