Indiana pharma company explores nuclear energy options

Under the agreement, the parties will:

1. Explore and evaluate the technical, economic, regulatory, and environmental feasibility of nuclear energy solutions in Indiana.

2. Consider potential structures for future procurement and deployment, including potential public private approaches, ownership and operating concepts, and power purchase arrangements.

3. Support long-term energy reliability, resilience, economic development, industrial growth, workforce development, and emissions reduction goals in Indiana.

Areas for collaboration set out in the Letter of Intent cover feasibility and planning, including amongst other things preliminary site screening and assessment for candidate locations, grid interconnection considerations and infrastructure needs assessment, and preliminary cost, schedule, and risk assessments; technology evaluation, including a review of advanced nuclear technologies, including small modular reactors and other next generation reactor designs; regulatory and policy coordination; and workforce and economic development.

Indiana currently has no nuclear generating capacity, but nuclear features in Braun's vision for the state as a premier location to invest and build new nuclear energy, saying it will help lower energy prices for citizens. The state is part of a multistate initiative launched in January 2025 to explore ways to accelerate advanced nuclear projects by bringing down project costs, and has also partnered with Indiana-headquartered fast-spectrum small modular reactor designer First American Nuclear Co (FANCO) in plans for an energy park based on the company's EAGL-1 lead-bismuth cooled 240MWe small modular reactor. FANCO recently submitted its regulatory engagement plan for the EAGL-1 to the US Nuclear Regulatory Commission.

"Today, I'm proud to enter into this partnership with Lilly to explore how we can collaborate on making Indiana the nation’s nuclear energy leader," Braun said.

Eli Lilly is a multinational pharmaceutical company headquartered in Indianapolis, Indiana.

"For 150 years, Lilly has grown alongside Indiana. Advanced nuclear technology represents the kind of bold, clean energy solution our state needs to power the next generation of innovation, and it directly supports Lilly's own commitment to reduce our environmental footprint. We're proud to partner with the state to help make it a reality," the company's chair and CEO Dave Ricks said.