First American Nuclear

First American Nuclear (FANCO) is a nuclear power company headquartered in Carmel, Indiana, with R&D operations in Richland, Washington. The company is developing EAGL-1, a fast-spectrum small modular reactor (SMR) that is notable for being the only U.S. reactor using lead-bismuth as a coolant. This coolant choice is central to the design's appeal: lead-bismuth is low-pressure and non-reactive, eliminating the need for expensive containment systems required by conventional reactors. A standard six-reactor EAGL-1 cluster can power approximately 1.5 million homes with a footprint ten times smaller than comparable sites. The reactors are 100% factory-built and tested, reducing cost and schedule uncertainty by leveraging existing manufacturing infrastructure and supply chains.

FANCO was founded roughly a decade ago by a team of nuclear industry veterans, led by nuclear industry veteran Bill Stokes, who previously worked on landmark U.S. government nuclear programs including the Fast Flux Test Facility (FFTF), the Experimental Breeder Reactor II (EBR-II), the Global Nuclear Energy Partnership (GNEP), and the Versatile Test Reactor (VTR). The company's philosophy is explicitly "customer-centric" - designing both the reactor technology and its deployment system to deliver affordable, reliable clean energy within existing industrial, financial, and regulatory frameworks. To bridge the gap until nuclear units are online, FANCO also offers a "Bridge Power™" solution that delivers gas-fueled power in the short term and transitions to nuclear with minimal equipment modifications.

First American Nuclear has assembled a strong network of strategic partners, including AtkinsRéalis (serving as exclusive EPCM partner for EAGL-1 projects in North America under a 20-year alliance contemplating $250M in services over five years), Denham Capital (strategic partnership to accelerate power solutions for AI and hyperscale data centers), Purdue University (systems validation, safety analysis, and regulatory support), the State of Indiana, the U.S. Department of Energy, and U.S. National Laboratories. The company is targeting an NRC license application by early 2027, making it an important emerging player in the U.S. advanced nuclear energy supply chain - particularly given surging demand for reliable, carbon-free power from data centers and AI infrastructure.