In June 2021, we covered Microsoft co-founder Bill Gates after he teamed up with his friend and renowned investor Warren Buffett to build a $1 billion next-generation nuclear reactor in Wyoming. The ambitious project aims to unleash a power capacity of 500 megawatts during peak demand, sufficient to energize approximately 400,000 households.
Traditionally, nuclear plants have been notorious for their massive footprint, requiring about one square mile of space. However, the industry is undergoing a seismic shift towards small-scale, cost-effective Small Modular Reactors (SMRs). These innovative reactors, led by startups like NuScale, BWXT Advanced Technologies, and TerraPower, the brainchild of Bill Gates himself, offer a more compact design with a power output of up to 300 MW(e) per unit, a third of traditional reactors.
TerraPower’s journey began in 2008 with the vision of developing a sustainable nuclear energy system while mitigating proliferation risks. Their pioneering concept, the traveling-wave reactor (TWR), fueled by depleted uranium, garnered significant attention, particularly with Gates’ strategic investment.
Fast forward to today, TerraPower is on the brink of a major milestone. CEO Chris Levesque recently announced plans to commence construction on the first-of-its-kind nuclear power plant in the US this June. This move positions TerraPower in direct competition with Russian and Chinese counterparts in the race to deliver lower-cost reactors globally.
Levesque told the Financial Times the company plans to apply for a construction permit from the US Nuclear Regulatory Commission sometime this month. Despite uncertainty about when the approval will come through, TerraPower intends to kick off construction on the non-nuclear components starting this June. Levesque is optimistic that the project will be operational by 2030, the Financial Times reported. Notably, TerraPower’s reactor stands out from traditional models as it utilizes liquid sodium for cooling instead of water.
Advanced nuclear plant in Wyoming
The company’s proprietary Natrium reactors boast a revolutionary cooling system utilizing liquid sodium, a departure from traditional water-cooled reactors. Levesque anticipates that these reactors could be built at nearly half the cost of conventional models, marking a significant advancement in the nuclear energy landscape.
“When you use liquid sodium as a coolant instead of water it’s a game-changer,” said Levesque, adding that the high boiling point of almost 900C for the liquid metal brought significant cost savings compared with water. Natrium plants will cost half of what light water reactor plants cost . . . and we are moving our project along pretty aggressively.”
With robust financial backing from both private and public sectors, TerraPower has secured nearly $1 billion in private funding, including support from South Korea-based SK Inc., Warren Buffett, and Gates himself. Furthermore, a $2 billion commitment from the Department of Energy underscores the government’s confidence in TerraPower’s groundbreaking technology.
Bill Gates at TerraPower with a mock-up of metal fuel pin bundles.Photo courtesy Gates Notes
In addition to its domestic efforts, TerraPower is also eyeing international collaborations, exemplified by their agreement with Emirates Nuclear Energy Corporation to explore Natrium reactors’ potential in the United Arab Emirates.
As TerraPower marches towards a cleaner, more sustainable future, its innovative approach promises to reshape the nuclear energy narrative, offering a viable solution to the world’s growing energy needs while minimizing environmental impact and proliferation risks.
