The Strategist

Bill Gates' TerraPower raises $750M for nuclear energy and medical projects

08/16/2022 - 08:20

TerraPower, founded by Bill Gates, raised $750 million for advances in nuclear energy and medicine. The fundraising round was led by Gates himself and SK, one of the biggest energy suppliers in South Korea. According to CNBC, SK contributed $250 million to Gates' business.

The funds will be used to further nuclear energy technology and nuclear medicine advancements. According to Chris Levesque, CEO of TerraPower, "investors all over the world are taking note" of the team's technology rollouts.

He claimes that these options might include everything from using carbon-free advanced nuclear power to tackle climate change to using nuclear isotopes to treat cancer. Also, TerraPower is collaborating with GE Hitachi Nuclear Energy, a branch of General Electric to bring a system called Natrium to market.

Natrium has a smaller reactor than the standard reactors used in the US and an energy storage mechanism using molten sodium salt, which enables the microreactor to increase energy production temporarily as needed.