Central Pennsylvania Rallies in Support of the Crane Clean Energy Center: Governor Shapiro, Microsoft Executives, Community Leaders and Hundreds of New Employees Gather to Celebrate Progress
Constellation remains on track to restart Unit 1 ahead of schedule, bringing thousands of jobs and more than $3 billion back to central Pennsylvania
LONDONDERRY TOWNSHIP, Pa., June 25, 2025--(BUSINESS WIRE)--More than 400 new and returning Constellation employees and Pennsylvania building trades members gathered today at the Crane Clean Energy Center to hear from Gov. Josh Shapiro, local officials, and Microsoft and Constellation executives as widespread support builds for the plant's restart. The celebration follows news that the plant could restart as early as 2027, with the approval of an early interconnection request by grid operator PJM and significant progress made on hiring, reactor operator training and major equipment purchases. Governor Shapiro wrote a letter to PJM helping to secure approval of that expedited request.
Crane Clean Energy Center Site Celebration Photos/Video
"Today we begin a new chapter for reliable, emissions-free nuclear energy, returning thousands of good jobs and billions in economic opportunities for Pennsylvania families and businesses," said Joe Dominguez, Constellation president and CEO. "With PJM's action, Microsoft's historic investment, and strong support from Governor Shapiro, elected officials and members of this community, we're on track to make history ahead of schedule, helping America achieve energy independence, supercharge economic growth, and win the global AI race."
"My Administration has worked closely with Constellation and PJM on the Crane Clean Energy Center since 2023 in order to get this new generation online as quickly as possible, ensure the reliability of our grid, and cement the Commonwealth's energy future," said Governor Josh Shapiro. "This restart will safely take advantage of existing infrastructure while creating thousands of energy jobs and strengthening Pennsylvania's legacy as a national energy leader. My proposed energy plan would spark the next generation of energy production here in Pennsylvania, and projects like this are going to help us continue to create energy jobs and build a more reliable, affordable energy grid. I look forward to continuing to bring people together to get stuff done for Pennsylvanians and speed up the development of new energy resources in the Commonwealth."
"As Microsoft continues its path to become a carbon negative company, this agreement brings a significant supply of new, reliable, carbon-free electricity back to the PJM power grid," said Bobby Hollis, VP of Energy, Microsoft. "This will help address the grids' capacity and reliability needs in the regions we operate."
Constellation continues to make strong progress toward the safe and efficient restart of the Crane Clean Energy Center. The facility is now more than 64% staffed, with nearly 400 full-time employees on board and 58 additional hires with start dates in the coming weeks. Significant technical milestones have also been reached, including the successful inspection of the plant's diesel generator, steam generator, main generator, turbines, and other major systems.
Many of Crane's office buildings have been renovated and enhancements to the training center and control room simulator are nearly complete. The site's new main power transformers will be delivered next year utilizing the skills of hundreds of rigging experts, local skilled labor, and electrical specialists. Constellation also remains on track with its regulatory filings and recently submitted key licensing amendments to the Nuclear Regulatory Commission (NRC). In May, the NRC approved a license request to rename Unit 1 to the Crane Clean Energy Center.
"Crane is a huge shot in the arm for the 130,000 building and construction trades workers I am privileged to represent in Pennsylvania," said Rob Bair, president of the Pennsylvania Building and Construction Trades Council. "These are the men and women who shape the skylines across Pennsylvania, who build everything from energy plants and hospitals to high-rise apartments and hotels. This plant will give our workers the best opportunity to truly have a middle-class living, making good money with great benefits – something they can all be proud of. We are excited to be working with Constellation to power up the Crane Clean Energy Center."
"We congratulate Constellation, Microsoft and the state of Pennsylvania for doing something that seemed impossible just a few years ago: restarting a shuttered nuclear plant," said Maria Korsnick, president and CEO, Nuclear Energy Institute. "The U.S. nuclear industry is uniquely positioned to meet the rising demand for clean, reliable, and affordable energy. The Crane Clean Energy Center is a powerful example of how our industry is rising to the challenge."
Constellation pledged $1 million in community contributions over five years and has already provided $185,000 to community partners in 2025. During today's event, the company announced two new community donations:
$25,000 to Lower Dauphin Communities That Care's Bookmobile, which serves local schools
$20,000 to Veterans Outreach of Pennsylvania
"Constellation has always been a good neighbor for Londonderry Township and we are looking forward to that continuing into the future," added Anna Dale, Londonderry Township Supervisor. "An active power plant is good for our local economy and helps support countless businesses across the region. Their support of our community, especially the fire department, has always been exceptional and we remain grateful for all of the support they've shown."
Prior to its premature retirement in 2019, the plant served as an economic engine for the state. An independent study found that Constellation's $1.6 billion investment to restart the Crane Clean Energy Center is expected to:
Create 3,400 direct and indirect jobs
Add $16 billion to Pennsylvania's GDP
Generate more than $3 billion in state and federal tax revenue
About Constellation
Constellation Energy Corporation (Nasdaq: CEG), a Fortune 200 company headquartered in Baltimore, is the nation's largest producer of reliable, emissions-free energy and a leading energy supplier to businesses, homes and public sector customers nationwide, including three-fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation's largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation's clean energy. We are committed to investing in innovative technologies to drive the transition to a reliable, sustainable and secure energy future. Follow Constellation on LinkedIn and X.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250624741471/en/
Contacts
Paul AdamsConstellation Communications667-218-7700paul.adams@constellation.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Veteran analyst offers eye-popping Nvidia, Microsoft stock prediction
Veteran analyst offers eye-popping Nvidia, Microsoft stock prediction originally appeared on TheStreet. In the last six months, AI stocks have been anything but boring. After a few years of massive gains, AI stocks kicked off the year getting slammed as a bubble. Talk of bloated valuations and too much hype had investors wondering if the party was over. 💵💰💰💵 Then in April, President Donald Trump's surprise tariffs crashed the market, pulling down the S&P 500 by nearly 19%. AI bellwether stocks like Nvidia () and Microsoft () tanked, and many felt the AI rally was dead and buried. Yet here we are with the S&P 500 at an all-time high, lifted by a roaring AI comeback driven by chip leaders and cloud giants. Now one of Wall Street's sharpest has AI back at the helm, pointing to two giants ready to win big. In the AI race, Nvidia and Microsoft play different but critical roles in advancing the industry. Nvidia's ubiquitous AI-ready GPUs are the go-to hardware for training and inference. Its latest Blackwell Ultra chips, for instance, promise 1.5 times the punch of earlier models, rolling out even cheaper versions for China to dodge export curbs and grow its reach. Speaking of reach, Nvidia's data-center accelerators handle a whopping 90% of AI workloads the software side, CUDA keeps millions of developers hooked on fine-tuning performance. On top of that, its patented tools like TensorRT and NeMo make deploying models simpler, and DGX Cloud brings on-demand AI clusters to the table. Take CoreWeave, one of Wall Street's biggest stories this year, which shows how anything Nvidia touches turns to gold. Backed by a 7% Nvidia stake, Coreweave stock has built monster AI supercomputers and is up 308% from its IPO earlier this year. Hence, with a powerful full-stack approach, Nvidia remains an inseparable partner in building next-gen AI. More Tech Stock News: Circle's stock price surges after stunning CEO comment Robotaxi rivalry heats up as new cities come online Analyst reboots AMD stock price target on chip update Microsoft, by contrast, is all-in on software and services to layer AI across its ecosystem. Front and center is Microsoft's massive multi-billion-dollar OpenAI partnership, weaving ChatGPT into Azure, Teams, and Office 365. Microsoft's robust cloud service in Azure packs prebuilt and custom models and low-code tools. Similarly, Microsoft 365 Copilot amps up Word and Excel, while the Windows Copilot pushes AI deep into daily work. Together, Nvidia's cutting-edge chips and Microsoft's cloud and tools power the entire AI stack, pushing them ahead of their peers. Wedbush thinks Nvidia and Microsoft could touch $4 trillion in market cap this year and ride the AI wave to $5 trillion by next year. This bold call lands as Nvidia just reclaimed the top spot from Microsoft, hitting new highs. As of yesterday's close, Nvidia's market cap stood at $3.78 trillion, while Microsoft sported a $3.7 trillion market cap. Apple's the other tech giant in the $3 trillion club, and it was once the world's most valuable company. Veteran analyst Dan Ives, in his note, wrote, 'The poster children for the AI Revolution are led by Nvidia and Microsoft, as both are foundational pieces of building on the biggest tech trend we have seen in our 25 years covering tech stocks on the Street.'AI use cases have exploded of late, from cybersecurity and software to chips and robotics. Nvidia CEO Jensen Huang believes robotics will be the next multi-trillion-dollar catalyst after AI. Ives agrees that the ripple effect is huge, that every dollar spent on Nvidia sparks another $8 to $10 across the wider tech world. In crunching the numbers, Microsoft's market cap has slipped 10.8% over the past year, losing about $400 billion. Conversely, Nvidia soared nearly 25%, adding $950 billion from its AI GPU boom. Stretch that to three years, and the gap gets even wider. Microsoft's up a robust 21%, but Nvidia's exploded 472% as it pivoted from gaming chips to the AI driver's seat. Wedbush's $4 trillion call equates to a 5.2% bump from Nvidia's current market cap and an 8.4% jump for Microsoft. Pushing to $5 trillion in 18 months ups the game, with Nvidia potentially rising 31.5% and Microsoft at 35.5%.Veteran analyst offers eye-popping Nvidia, Microsoft stock prediction first appeared on TheStreet on Jun 27, 2025 This story was originally reported by TheStreet on Jun 27, 2025, where it first appeared.
Yahoo
an hour ago
- Yahoo
Analyst sends bold message on quantum computing stocks after Nvidia CEO's pivot
Analyst sends bold message on quantum computing stocks after Nvidia CEO's pivot originally appeared on TheStreet. When people talk about computing speed today, they think of Nvidia's () powerful GPUs, the gold standard for accelerating artificial intelligence. But there could be another quieter revolution gaining traction: quantum computing. 💵💰💰💵 Quantum computing's potential applications include portfolio optimization in finance and simulating complex chemical systems, tasks that today's most powerful supercomputers still struggle to solve. Still, the technology is years away from mass adoption. But Nvidia CEO Jensen Huang has recently struck a more optimistic tone on quantum computing. 'Quantum computing is reaching an inflection point,' he said at a conference on June 11. Classical computers process information in bits, and each bit is either a 0 or a 1. Quantum computers use qubits (quantum bits), which can be both 0 and 1 at the same time. This allows quantum computers to process vastly more possibilities at once. Think of a regular computer as a librarian, looking through books one by one to find the answer. Quantum computers, on the other hand, can look through all the books at once. "This means quantum computing may revolutionize our ability to solve problems that are hard to address with even the largest supercomputers," the U.S. Department of Energy noted that 'we are within reach' of applying quantum computers "in areas that can solve some interesting problems in the coming years.' This is a notable shift from Huang's earlier skepticism. He had previously said that a 15-year timeline for useful quantum computing was 'on the early side,' and that a 20-year horizon was more realistic. Those remarks triggered sharp declines in shares of quantum-focused companies like Quantum Computing Inc. () , IonQ () , and D-Wave Quantum () . This week, shares of Quantum Computing Inc. lost more than 11% as the firm sold approximately 14 million shares of common stock at $14.25 per share to institutional investors. The deal was announced on June 23 and closed on June 24, bringing the firm about $200 million. The firm said it intends to use the net proceeds from the sale to accelerate commercialization efforts, to engage in strategic acquisitions, and for working capital and general corporate purposes. The stock dropped after the dilution, but one Wall Street veteran is buying more shares on that dip. Stephen Guilfoyle, Wall Street's 30-year veteran analyst, said he added positions in Quantum Computing Inc. and D-Wave Quantum this week. He also unveils bold price targets for the two stocks, according to his note published on TheStreet Pro. 'In response to the sale and the diluted share price, on Monday morning ahead of the opening bell, I had added small to my existing long position and had also re-initiated a long position in key competitor D-Wave Quantum,' Guilfoyle wrote. 'Neither firm will report for almost two months.'Guilfoyle noted that Quantum Computing Inc. has burned through more than $65 million in cash over the past three years, and its latest $200 million capital raise — done at $14.25 per share — was priced well above where the stock traded just months ago. 'Apparently, despite the cash burn, and despite the fact that the shares traded $4.37 this year, some institutional investors are willing to pay for the shares,' he wrote. He now sees a new technical pivot for QUBT at $21.80 and has raised his price target to $27, citing healthy relative strength and a bullish technical setup. "Investors will have to digest the extra shares. That said, quantum computing stocks are momentum driven and do not trade on fundamentals," he added. More Nvidia: Analysts revamp forecast for Nvidia-backed AI stock Nvidia stock could surge after surprising Taiwan Semi news Nvidia CEO sends blunt 7-word message on quantum computing As for D-Wave, Guilfoyle believes the chart looks even better. He sees a pivot at $18.30, with a target of $23 if the rally continues. Both stocks have more than tripled from their March lows. On June 26, Quantum Computing Inc. closed at $16.79, and D-Wave Quantum finished at $14.06. Analyst sends bold message on quantum computing stocks after Nvidia CEO's pivot first appeared on TheStreet on Jun 27, 2025 This story was originally reported by TheStreet on Jun 27, 2025, where it first appeared.
Yahoo
an hour ago
- Yahoo
Veteran fund manager who predicted Nvidia stock rally makes surprising move
Veteran fund manager who predicted Nvidia stock rally makes surprising move originally appeared on TheStreet. Nvidia () shares climbed for five consecutive days this week, closing at a record high of $157.75 on June 27. The rally has made the AI chipmaker the most valuable company again, with a market cap of about $3.85 trillion, ahead of Microsoft () and Apple () . About three months ago, some pessimistic investors thought that Nvidia's stock had probably reached a dead end as it fell sharply amid macro uncertainties and trade policies. But the stock has gained 67% since its low in early was hit hard as the U.S. tightened export restrictions on advanced chips in April. The Trump administration said Nvidia would need an export license to ship the H20 processors to China. The H20 chip was designed under the Biden administration's rules. The chipmaker took a $4.5 billion charge in the April quarter and said it would have made an additional $2.5 billion in revenue without the restriction. Nvidia's CEO, Jensen Huang, has long warned that export controls could hurt U.S. chipmakers and even threaten the country's position as the global leader in technology. 'If we want the American technology stack to win around the world, then giving up 50% of the world's AI researchers is not sensible," Huang recently said on CNBC. Several developments have driven Nvidia's rally since its April low. The stock first began to recover after the U.S. and China agreed to temporarily pause the elevated tariffs. Sentiment improved further when the Trump administration scrapped the Biden-era AI diffusion rule, which was another export control on advanced AI chips. In May, shares got another boost from news that Nvidia would supply AI chips to Saudi Arabia's Humain, a rising tech player in the May 28, Nvidia posted strong fiscal first-quarter results. Adjusted earnings came in at 96 cents per share on $44.06 billion in revenue, beating Wall Street's estimates of 93 cents and $43.31 billion. The company guided for $45 billion in revenue for the current quarter, just under analysts' forecast of $45.9 billion. Nvidia said that number would have been roughly $8 billion higher without the ongoing export curbs to China. This week's rally was also helped by signs of easing U.S.-China trade tensions. Secretary of Commerce Howard Lutnick told Bloomberg that a trade deal with China has been finalized and signed. The deals said China would ship rare earth metals to the U.S. in exchange for "countermeasure" removal. But it's still unclear whether semiconductors are part of the deal, and chips remain a major sticking point in trade negotiations. As Nvidia shares climbed, Chris Versace, a Wall Street veteran fund manager who oversees TheStreet Pro's portfolio, just sold part of his stake during the rally. On June 26, Versace trimmed roughly 10% of the portfolio's Nvidia stake at $154.06. The gains were just over 100%.Versace began his career in equity research and now has more than 30 years of experience. He started buying Nvidia stocks in February 2024. He had predicted Nvidia's rally earlier this year, buying more shares in the dip. More Nvidia: Analysts revamp forecast for Nvidia-backed AI stock Nvidia stock could surge after surprising Taiwan Semi news Nvidia CEO sends blunt 7-word message on quantum computing "We remain bullish on the prospects for both companies, especially after Wednesday night's quarterly earnings report and lifted outlook from Micron () ," Versace wrote in a note on TheStreet Pro, adding that he still intended to hold Nvidia shares to "maximize AI and data center build out and AI adoption related returns." Versace said the sale reflected his stance as a 'disciplined investor,' adding that if Nvidia shares continue to rise and push the stock's weight back to 4.5% of the portfolio, 'we'll look to lock in additional gains.' As of now, Nvidia makes up 4.19% of the fund manager who predicted Nvidia stock rally makes surprising move first appeared on TheStreet on Jun 28, 2025 This story was originally reported by TheStreet on Jun 28, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
