TerraPower

TerraPower
source
Name	TerraPower
Foundation	2008
Founders	Bill Gates, Nathan Myhrvold
Key people	Chris Levesque (President & CEO)
Industry	Nuclear reactor technology
Products	Nuclear reactor designs
Website	https://www.terrapower.com/

TerraPower. It is an American nuclear reactor design company founded in 2008 with the goal of developing advanced, sustainable nuclear energy technologies. The company was established through the intellectual and financial leadership of Bill Gates and Nathan Myhrvold, emerging from Intellectual Ventures' invention portfolio. Its mission focuses on creating next-generation reactor systems that address global challenges such as climate change, energy security, and the management of nuclear waste.

History and founding

The concept for the company originated around 2006 during discussions between Bill Gates and Nathan Myhrvold at Intellectual Ventures, a firm known for its focus on invention capital. Formal incorporation occurred in 2008, with early research heavily centered on the traveling wave reactor concept, a design initially explored by scientists like Edward Teller. In its formative years, the company established a key partnership with Lawrence Livermore National Laboratory to conduct advanced modeling and simulation work. The venture gained significant public attention following Gates' 2010 TED Conference talk, where he championed the need for an "energy miracle." Early funding was provided by Gates himself and other private investors, setting the stage for subsequent collaborations with major industrial and governmental entities, including Toshiba and the United States Department of Energy.

Technology and reactor designs

The company's flagship initial design was the traveling wave reactor, a breeder reactor concept intended to use depleted uranium and operate for decades without refueling. This research later evolved into the development of the Natrium reactor, a sodium-cooled fast reactor paired with a molten salt energy storage system, designed in partnership with GE Hitachi Nuclear Energy. Another major design is the Molten Chloride Fast Reactor, which is being developed under the Advanced Reactor Demonstration Program funded by the United States Department of Energy. These designs emphasize improved fuel utilization, the ability to integrate with renewable energy grids, and reduced production of long-lived actinide waste. The technological approach leverages advanced computational tools, including supercomputer simulations conducted at facilities like Pacific Northwest National Laboratory.

Projects and partnerships

A landmark project is the planned construction of the first Natrium reactor demonstration plant in Kemmerer, Wyoming, at the site of a retiring coal-fired power station. This project is a collaborative effort with PacificCorp and involves support from the State of Wyoming. Internationally, the company has engaged in research collaborations, such as a 2015 agreement with the China National Nuclear Corporation to develop a traveling wave reactor prototype, though this was later affected by United States Department of Energy restrictions on nuclear technology transfers to China. The company is also a participant in the U.S. Department of Energy's Advanced Reactor Demonstration Program and works with national laboratories including Idaho National Laboratory and Oak Ridge National Laboratory on fuel development and materials testing.

Leadership and funding

The company was co-founded and initially chaired by Bill Gates, with Nathan Myhrvold serving as a founding board member. Day-to-day operations have been led by executives such as President and CEO Chris Levesque, a former submarine officer in the United States Navy with experience at companies like Areva. Significant financial backing has come from Gates' investment vehicle, Cascade Investment, and other private investors. In 2022, a substantial equity round raised over $750 million from investors including SK Inc. of South Korea and Bill Gates. The company also receives significant cost-shared funding through federal programs like the Advanced Reactor Demonstration Program administered by the United States Department of Energy.

Safety and environmental considerations

The company's reactor designs incorporate several inherent safety features, such as passive cooling systems that rely on natural phenomena like convection and thermal conductivity, reducing dependency on active mechanical systems. The use of sodium as a coolant in the Natrium reactor allows it to operate at atmospheric pressure, mitigating risks associated with high-pressure coolant loss. Environmental considerations are central, with designs aiming to produce electricity without carbon dioxide emissions and to reduce the volume and longevity of high-level nuclear waste. The company also emphasizes the potential for its reactors to provide process heat for industrial applications, aiding in the decarbonization of sectors beyond power generation, and conducts extensive environmental impact statement reviews for its demonstration projects.