News

Bill Gates' TerraPower Raises $750 Million for Cheaper Nuclear

Bloomberg · Heesu Lee · last updated

Bill Gates-backed TerraPower LLC raised at least $750 million to advance efforts to develop small-scale nuclear reactors, including a major investment from South Korean conglomerate SK Group.

Related Knowledge Center: ENERGY BASICS: nuclear

State of Play

Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.

More informationabout ENERGY BASICS: nuclear