Bill Gates-backed nuclear firm eyes eight 345-MW Natrium reactors for US nuclear push

A US nuclear firm backed by American businessman and Microsoft co-founder Bill Gates has recently struck two deals to speed up the commercial deployment of its advanced Natrium reactors. On Friday, August 14, Washington-based TerraPower announced the agreements with South Korean companies Hyundai Engineering & Construction (HDEC) and SK Innovation. They came after a series of meetings with senior government and industry officials in Seoul. HDEC was reportedly selected as the engineering, procurement, and construction (EPC) contractor for up to eight future Natrium reactors. The agreement includes guarantees to make the planned reactor fleet easier to finance. Chris Levesque, TerraPower president and CEO, stressed the deal’s significance for the company. “Today marks a pivotal moment for TerraPower as we embark on a new chapter of international collaboration with Korea’s leading organizations,” Levesque pointed out. TerraPower’s Natrium technology relies on a combination of sodium, molten salt, and water (steam) to transfer and store heat and create electricity. In other words, it combines a 345-megawatt (MW) sodium-cooled fast reactor with a molten salt-based energy storage system. As per the company, the reactor can run at full power, 24 hours a day and seven days a week. During low power demands, the heat produced will be stored in the molten salt storage tanks. Once it rises, the turbine can utilize the stored heat. The storage system can quickly ramp up its output to 500 MW at peak demand. It maintains a steady base output, in addition to keeping the power supply reliable. The company highlighted that it is currently developing its first Natrium plant in Wyoming under the US Department of Energy’s (DOE) Advanced Reactor Demonstration Program (ARDP). Bill Gates, TerraPower Chairman and Chris Levesque, the company’s president and CEO, during a trip to Seoul. Credit: TerraPower The project is expected to be completed in 2030. Once operational, it will become the first commercial-scale advanced nuclear plant of its kind in the US. Earlier this year, TerraPower also reached a deal with Meta to support the deployment of up to eight Natrium plants by 2035. “Combining TerraPower’s innovative advanced nuclear technology with Korea’s nuclear construction and operational expertise will strengthen our global cooperation and accelerate the deployment of a Natrium fleet that will transform the world’s energy landscape,” Levesque concluded in a press statement. First Natrium plant in Korea At the same time, the second contract between TerraPower and SK Innovation, could expand the technology’s footprint outside the US. The companies signed a term sheet outlining plans to develop South Korea’s first commercial Natrium plant and explore further international deployment. They also intend to examine how digital technologies could improve nuclear plant operations and maintenance. Some of their potential areas of cooperation include AI and digital twins. These can create visual representations of physical systems to monitor and optimize the performance. The deals followed meetings involving Bill Gates, Levesque, South Korean Prime Minister Han Seong-sook, and executives from several Korean organizations. At the same time, TerraPower said it will soon begin work under the agreements to move Natrium from its first demonstration project toward wider commercial use.The partnerships could support various deployments across the US, South Korea and selected international markets. “TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science,” TerraPower representatives concluded. Get the latest in engineering, tech, space & science - delivered daily to your inbox.Based in Skopje, North Macedonia. Her work has appeared in Daily Mail, Mirror, Daily Star, Yahoo, NationalWorld, Newsweek, Press Gazette and others. She covers stories on batteries, wind energy, sustainable shipping and new discoveries. When she's not chasing the next big science story, she's traveling, exploring new cultures, or enjoying good food with even better wine.