The Ledger, every show

“Everywhere you look, it's a fake industry that has not been building anything for 40 years, and the little bit that they have been building, they're charging a 100 X margin on.”

“And we will get it down to minutes. This company will get, we'll get to the point where we have a new reactor turning on every few minutes.”

“This is the fifth new nuclear device to make power in the United States since the year 2000. Fowler is the only private company founded since the discovery of nuclear fission that has ever made nuclear power.”

“And, you know, we're sitting here right now, you know, less than three years from the founding of the company, and I think if you look back at 10 years in 10 years from now, and, you know, Valor's worth five hundred billion, something like that you will be abl…”

“I know that nuclear fission will make energy a thousand times cheaper than it is today. Somebody will do that.”

“This was sort of a theory for a long time, but it's actually proven now that this did happen in Europe over the last 10 years. So Russian groups funded far left environmental groups in Germany to shut the reactors down in order, you know, to make it so that Ge…”

“We have nuclear reactors that are more manufactured than constructed and they're extremely safe. And we think the combination of these two things is going to allow us to scale nuclear fission and make energy 10 times cheaper for humanity.”

“If you're going to reboot nuclear and you're actually believe in, in the atomic energy century, which I absolutely do, it's probably not going to look like what it did in the sixties. It's not going to look like civil infrastructure. Because we're not that goo…”

“What was missing is that people did not realize that you're going to have to pursue that model through hardware iteration. And that's where really where Valor is unique is that Yes, we believe in SMRs. We believe in reactors that are manufactured. But we also …”

“So if you look at the nuclear industry outside of Valor, it's mostly a modeling and simulation industry. Like, when you think of a nuclear company, right, there's, like, nuclear companies out there that everyone knows the name of, and you kind of look under th…”

“We want to make thousands of reactors, tens of thousands, hundreds of thousands.”

“Immediately after we scram, we're actually going to turn off the entire electrical supply to the plant. We're going to turn off the circulator. We're going to turn off the RCCS pump. Every safety system in this plant, we're going to shut off, and we're going t…”

“Nuclear energy is the safest form of energy, empirically. If you look at the amount of power generated versus the amount of deaths it's even safer than solar, which is very strange, because how does someone die from solar? But actually, most solar is installed…”

“A triso-fueled, graphite-moderated, helium-cooled reactor of the geometry that we've built it here is just about as safe as humanity knows how to build a nuclear reactor.”

“And we were quoted about five million dollars and we were told it would take about two and a half years to build. And so we said, well, all right, maybe I'd be willing to pay five million dollars, but I'm certainly not going to wait two and a half years. And s…”

“We are willing to go build reactors on equity balance sheet because that's going to allow us to prove it years ahead of anybody else, right? Where, where our competitors are still trying to convince, you know fundamentally risk averse you know, financers to fi…”

“When we figure out AI and robotics that allows us to do semi-autonomous manufacturing, energy will become the cost of all things, right? The cost of buying a thing will become the cost of energy used to make it.”

“There's a certain extent to which China doesn't actually want my IP because they have something better already running in the mainland.”

“I actually think that if you're looking for an investment that is protected from AGI, it's something like this, where it's extremely physical. You're bending steel, you're stacking blocks, you're building plants, you're laying concrete. It's going to be a long…”

“So the reactor that's behind us here was turned on under an executive order. It was EO one four three oh one, which called for three advanced reactors to go critical on American soil by July fourth. And we built it under department of energy authority under th…”

“The alternative way that you can reduce risk is actually just reducing consequence, right? And we would argue that that's a much better way to reduce risk. Odds are stochastic, right? Even if you do an enormous amount of risk reduction on odds and you do all t…”

“Our safety basis when we go to the regulator is everything in the plant has failed. Absolutely everything, right? ... In fact, it is safe. Right? So we have regulatory limits where we say, okay, in an accident scenario, you can't dose the public with radiation…”

“The problem of nuclear today is like the Toyota Camry problem, right? Like we don't want to make Lamborghinis. We want to make a very simple, very cheap, very safe reactor that we can make literally tens of thousands of. And actually that is going to make the …”

“We went from three months Which is what it would normally take to build a bioshield like this to, we stack this in about 42 hours.”

“We powered the first ever AI chip powered by a nuclear reactor. So we took an NVIDIA Blackwell super grateful to them for providing the system to us. And we connected it directly to our nuclear reactor.”

“In fact, I would say even 2035, a lot of these companies are still not going to get there because they have the wrong mindset. They're not focused on hardware iteration, hardware execution, building the simplest and safest reactor that allows them to scale.”

“It's nuclear, but it's like significantly less complicated than a rocket engine, for example.”

“And the question flips around, which is, if I have, you know, a gigawatt of power with land and fiber, is someone going to put a data center there? It's like, yes, absolutely, right?”

“We don't do as well at like very large scale manufacturing or very large scale construction. We're much better at modular manufacturing.”

“So that's really what we focus on is building a modular reactor that can be manufactured here and that we build thousands of throughout the United States.”

“They're also turning on innovative types of reactors that were invented in the United States in the seventies and eighties. And they sort of sat on the shelf and we never really tackled them. We ran into a bunch of regulatory roadblocks and then we never turne…”

“Nuclear is so obviously, so clearly the best climate solution that you could find, right? So if you care about the fact that we're putting more CO two in the, you know, in the atmosphere every single year, and you look at all the options, you know, options tha…”

“Nuclear is sort of like the derivative to AI. If you believe that AI is going to go vertical, you should probably invest in nuclear, you know, because A, you're going to power it. B, you're going to be very insulated from, you know, the deflationary effects of…”

“Nuclear has never had its Ford moment or its Tesla moment, if you want to put it that way.”

“Not only did nobody die, nobody was injured, and there was no radiation dose to the public, but it was sort of a optics and PR situation that was mismanaged in many, many different ways, and the public became fearful and lost interest in nuclear.”

“We're currently, as we're sitting here, making a hundred kilowatts splitting something like 10 to the 17 atoms per second in this reactor behind us.”

“Nuclear in the last 40 to 50 years has been sort of a one-off industry. You have a plant built here, a plant built there. There were a couple of models and units of reactors built in duplicates around the world. But nobody has really been able to manufacture l…”

“We have our first, what's called a non-nuclear reactor prototype in LA. We're doing temperature testing on it, pressure testing on it, and we're looking at criticality next year”

“Nuclear in the United States has been paused for about 46 years. It's been paused essentially since Three Mile Island.”

“If you think about what's happening over the next hundred years in manufacturing and reindustrialization, we're essentially taking what was an extremely labor heavy industry into being an energy heavy industry, right?”

“Generation four reactors incredibly passively safe. You basically can't make them melt down this. It's, you know, a pure physics issue. So that's the type of reactor that we build.”

“We're going for DOE authorization next year and split the first atom.”

“It'll, it'll still be around like eight or nine percent nuclear. Solar is going to tick up a little bit, but honestly, oil and gas is growing as well.”

“We literally picked this up, put it on an airplane and fluid here. So the entirety of the plant, including a controller and fluid with us”

“So our first ever mark from filing in Delaware to first atom split was two years and four months. From Project Nova, first atom split to the second time here in this reactor was about seven months.”

“We have a of what we call the Citadel factory in Salt Lake City. And we have a production line where we could create 3000 blocks a year that are identical to these.”

“Our customers are going to be data centers, right? They're going to be people who want to actually power the AI.”