TerraPower raises $650 million from backers including Nvidia
Terrapower LLC, a nuclear initiative established by billionaire Bill Gates, has collected $ 650 million to help develop an advanced reactor project at Wyoming.
According to Wednesday, there were new investors in the financing round of Nventures, Nvidia Corp.’s venture capital branch and current supporters Gates and a South Korean ship builder HD Hyundai.
NVIDIA’s decision to support the company reflects the growing connections between the technology industry invading power data centers and artificial intelligence for carbon -free electricity, and nuclear companies that force reactors that can provide clean electricity throughout the clock.
“As AI continues to transform industries, nuclear energy will become a more vital source of energy to help them strengthen these capabilities.
Terrapower is developing a 345 megawatt power plant at a Wyoming coal facility that will retire. A year ago, it started construction in non -nuclear parts of the project and await federal approval for the reactor in 2026.
The company did not disclose its valuation or donation collection conditions on Wednesday.
The interest in nuclear energy, which is seen as a cleaner and more reliable alternative to the wind and the sun, has increased after a decade of stagnation due to increasing demand from data centers entering artificial intelligence explosion.
In 2022, Terrapower delayed Natrium’s launch date from at least two years to 2030 due to a highly -enriched uranium or special fuel lack of high -enriched uranium.
In October last year, Terrapower and Asp Isotopes reached an agreement to produce the state on an unexplained site.
Terrestrial energy to be opened to the public through the spac agreement
The developer of small nuclear reactors is opening to the public through a special purpose purchasing company led by Shawn Matthews, former Cantor Fitzgerald CEO.
According to a statement reviewed by Bloomberg News, the empty control company of the terrestrial Energy Inc. HCM II Acquisition Corp. In the agreement made with 925 million dollars of equity has a value.
Companies, the transaction will provide an additional $ 50 million of 50 million dollars of gross income from a special investment or a special investment for the empty control confidence account and a special investment of $ 50 million from the pipe or the pipe, will provide a $ 10 terrestrial income to help melted salt nuclear reactors commercialize.
Charlotte, North Carolina -based terrestrial, small modular energy can safely divide atoms to reduce carbon emissions and can make more than a cake for AI’s appetite for energy appetite. This group Sam Altman supported Oklo Inc., Ares-supported X-Energy and Fluor Corp. It includes Nuscale Power supported. Initiatives such as Terrapower LLC, founded by Bill Gates, also joined Fray.
“The world wakes up with what he has to do,” he said in an interview with terrestrial CEO Simon Irish. “We need a great expansion in nuclear energy supply.”
