TerraPower, a nuclear company backed by Bill Gates, recently broke ground on a commercial power plant in Wyoming. The Natrium reactor being constructed near a retiring coal power plant in Kemmerer, Wyoming could potentially become the first sodium-cooled, power-generating reactor in the U.S. The groundbreaking ceremony was attended by Bill Gates, TerraPower CEO Chris Levesque, Wyoming Gov. Mark Gordon, and PacifiCorp CEO Cindy Crane. Gates called the start of construction a significant milestone for the local economy, America’s energy independence, and the fight against climate change.
The small modular nuclear reactor being built by TerraPower is designed to be cheaper and faster to construct compared to traditional reactors. The company, founded in 2006, is leveraging technology used in an experimental breeder reactor in Idaho that operated for nearly 30 years before closing. TerraPower aims to begin producing power at the Wyoming site by 2030. The project is unique in that it is the only coal-to-nuclear project under development in the world, with the retiring coal power plant in Wyoming owned by PacifiCorp.
TerraPower is currently focusing on constructing non-nuclear parts of the power plant project while awaiting permit approval from the U.S. Nuclear Regulatory Commission for the reactor and nuclear components. Last month, TerraPower became the first company to have a permit accepted for review by the NRC to build a commercial advanced reactor. However, one of the challenges facing the project’s timeline is a shortage of uranium fuel for the reactor, as Russia, the previous source, is no longer an option following geopolitical events in Ukraine. TerraPower has partnered with Framatome, a French nuclear power company, to develop a pilot line for fuel production in Washington state.
TerraPower, headquartered in Washington state, has offices and research facilities in Bellevue and Everett. The company has raised approximately $1 billion in funding, including investments from Bill Gates and South Korea-based SK Inc. and SK Innovation, as well as roughly $2 billion from the U.S. Department of Energy. While the total cost of the Kemmerer project has not been disclosed, previous estimates put it at around $4 billion. The company is also working on developing advanced nuclear technology and has made significant progress in its efforts to bring next-generation nuclear power to the U.S.
The project in Wyoming marks a significant step forward in the effort to transition from coal to nuclear power, which could have positive implications for both the economy and the environment. With the support of influential backers like Bill Gates and significant funding from the U.S. government, TerraPower is well-positioned to lead the way in advancing nuclear technology and addressing the challenges of climate change. The success of the project in Wyoming could pave the way for more innovative nuclear power projects in the future.
