fast-growing engineering and nuclear energy technology company to locate in albuquerque; expanding existing building
A high-tech company based in Alameda, California has announced plans to establish an engineering center inside the sprawling Mesa del Sol community on the southeast side of Albuquerque.
Kairos Power, founded in 2016, is a company focusing on the delivery of efficient and affordable energy solutions.
The company is currently in the process of developing a means to convert heat from fission into electricity.
In moving into Mesa del Sol, the company will be purchasing an existing building on just over 30 acres of land and is expected in the next several years to invest more than $125 million at the new location, creating up to 65 new jobs in the process.
An expansion of that structure is expected to be built as the company’s needs grow.
In securing Kairos Power’s move to Albuquerque, the New Mexico Economic Development Department is providing the company with up to $4 million in Local Economic Development Act funding.
That $4 million includes a $1 million bonus owing to the Mesa del Sol location in a defined Opportunity Zone.
Another $1 million in LEDA funding has been made available by the City of Albuquerque for the project.
According to a press release issued by the New Mexico Economic Department, the company has also applied for an Industrial Revenue Bond which will fund the $125 million in building and land acquisition, as well as future construction.
In a statement, Mike Laufer, chief executive officer of Kairos Power, said the new Mesa del Sol location will “allow us to expand our engineering research and development program in support of our mission to enable the world’s transition to clean energy.”
The company, on its website, said its new Mesa del Sol facility will be designed to “test our high-temperature salt technology, which continues, enhances, and expands the work we’re currently focused on at our headquarters and R&D lab in California.”
By Garry Boulard
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