First Private U.S. Uranium Facility Planned in Paducah, KY
California-based company, General Matter, announced on July 25th that it plans to construct the first U.S.-owned, privately developed uranium enrichment facility in western Kentucky. The company stated its intention to make a significant investment in American nuclear infrastructure by repurposing a closed plant in Paducah.
The gaseous diffusion facility in McCracken County, which stopped operating in 2013, was originally built by the U.S. government in the 1950s for national defense and later used to produce fuel for nuclear power generation. General Matter aims to redevelop this location for new energy initiatives. “Seventy-five years after the Atomic Energy Commission first chose Paducah for uranium enrichment, we're rebuilding this historic site to advance American energy independence,” the company stated.
The announcement follows recent executive orders from President Donald Trump aimed at supporting nuclear energy expansion in the United States. Over the past year, the former Paducah Gaseous Diffusion Plant has been part of several proposals for industrial redevelopment. Earlier this week, the U.S. Department of Energy included it among four sites under consideration for data center and energy generation projects. Plans are also in place for establishing a commercial laser uranium enrichment facility adjacent to the property.
Founded in 2024 in San Francisco, General Matter is led by Scott Nolan, previously of SpaceX and currently a partner at Founders Fund. General Matter’s mission is to decrease U.S. dependence on foreign enriched uranium, especially from Russia, which supplies 20–30% of the country's nuclear fuel. General Matter uses advanced laser isotope separation, a method more efficient than gaseous diffusion or centrifuges. The company aims to enrich uranium to 19.75% by the end of this decade.
General Matter officially announced its launch in April, along with $50 milllion in funding from Founders Fund. The company was developed within Founders Fund by a team with backgrounds at SpaceX, Tesla, Anduril, various national laboratories, and the U.S. Department of Defense. Founders Fund co-founder, Peter Thiel, joined General Matter's board in April and is listed as a director in the company’s initial filing with the Kentucky Secretary of State.
In December 2024, General Matter was one of six companies added to the Department of Energy’s list of contractors eligible to provide low-enriched uranium, aiming to encourage increased domestic uranium production capacity. The global uranium enrichment market was valued at $10–12 billion in 2023 - while at present, enrichment capacity is greater than demand, projections indicate that by 2040, supply may become insufficient as new reactors will require higher levels of enrichment. According to the International Atomic Energy Agency (IAEA), global demand for nuclear energy is expected to rise to 623 GW by 2050.