Pivotal Manufacturing Partners has acquired around 140 acres at the former planned Phipps Bend Nuclear Plant in Hawkins County, Tennessee.
The real estate investment platform has also signed a long-term ground lease with Highland Materials, which plans to build an advanced manufacturing facility valued at over $1bn on part of the site.
The wider Phipps Bend Advanced Manufacturing & Technology Campus is intended as a high-power, heavy infrastructure location for operators requiring large-scale facilities, high-voltage connections, and flexible zoning.
It has on-site access to a Tennessee Valley Authority (TVA) regional transmission interconnect, serving Northeast Tennessee and Southwest Virginia, and benefits from development-friendly permitting.
“We are honoured to be investing behind the growth of Northeast Tennessee at such a unique site at Phipps Bend,” said David Robbins, Managing Partner of Pivotal Manufacturing Partners.
“This campus combines striking mission critical infrastructure, a rare high-voltage interconnect, and a permitting environment shaped by its nuclear legacy – all within a region eager to welcome transformational capital investment.”
Originally developed by the TVA in the late 1970s as a nuclear power facility, Phipps Bend saw over $2.6bn in federal investment before its cancellation in the early 1980s.
Although no reactors were completed, the site retains significant infrastructure, a strategic transmission location, and a history of energy-intensive industry.
Highland Materials manufactures high-purity polysilicon for the solar and semiconductor sectors.
CEO Richard Rast said, “Partnering with Pivotal Manufacturing Partners is a critical step needed to move the Highland polysilicon manufacturing facility forward at Phipps Bend.
“We are excited about the market opportunity, the job creation, the capital investment, and the continued community and state level support this project enjoys.”
