A U.S. company backed by Bill Gates is making significant strides in the deployment of small modular nuclear reactors (SMRs) across the country. TerraPower, the company in question, is pushing to be at the forefront of this innovation, facing competition from Russia and China in creating the most cost-effective and efficient SMRs.
The company’s CEO, Chris Levesque, revealed that TerraPower is currently seeking regulatory approval in the U.S. for a groundbreaking liquid sodium-cooled SMR, known as the Natrium reactor. This version of an SMR can be constructed at nearly half the cost of traditional water-cooled nuclear reactors, which could revolutionize the energy production landscape.
With almost $1 billion in private investments secured, TerraPower has partnered with the Emirates Nuclear Energy Corporation to explore deploying Natrium reactors in the United Arab Emirates for electricity and hydrogen production. Moreover, the U.S. government has pledged $2 billion in taxpayer dollars to support TerraPower’s project.
TerraPower’s maiden SMR project is set to take place in Kemmerer, Wyoming, near a former coal power plant. The company aims to have the plant operational by June, with the ambitious goal of completing it by 2030. By utilizing liquid sodium as a coolant, Natrium plants are expected to cost significantly less than traditional light water reactor plants.
While TerraPower faces challenges such as high-interest rates and inflated expenses in the U.S., Russia and China are progressing swiftly with their own SMR projects. NuScale, an Oregon-based company, previously intended to construct America’s first SMR but abandoned the plans due to cost issues.
Despite concerns about potential price hikes associated with Natrium-generated power, TerraPower, alongside PacifiCorp, plans to deploy five more Natrium reactors by 2035. Supporters of sodium-cooled reactors argue that they operate at lower pressures, requiring fewer safety systems, thereby reducing costs and maintaining safety standards.
However, critics have expressed skepticism about Bill Gates’ involvement in nuclear reactors due to his past ventures. Nonetheless, it remains to be seen how TerraPower’s Natrium reactor project will impact the energy sector and whether it will deliver on its promises of cost-effectiveness and efficiency.
