Bill Gates helped found TerraPower in 2006, and is its Chairman.
According to CEO Chris Levesque, its Natrium-branded reactors cost about half of today’s standard water-cooled reactors, partly because it uses molten sodium as a coolant, enabling lower operating pressures and hence fewer redundant safety systems using simpler materials.
‘The company has secured pledges from the US government to provide up to $2bn to complete work at TerraPower’s first plant in Kemmerer, Wyoming, and it will apply for a construction permit from US regulators this month for its reactor’, targeting completion by 2030.
'The Kemmerer reactor would serve as a demonstration project but would become a full-scale commercial plant upon completion. TerraPower and its utility partner PacifiCorp — a unit of Warren Buffett’s Berkshire Hathaway — said in October 2022 that they would study the feasibility of deploying another five Natrium reactors by 2035. ’
‘TerraPower and GE Hitachi Nuclear Energy brought together their decades of unparalleled design expertise and technical capabilities to develop the Natrium™ technology, which features a cost-competitive sodium fast reactor combined with a molten salt energy storage system. This unique combination will provide clean, flexible energy and stability, and integrate seamlessly into power grids with high penetrations of renewables.’