Bill Gates announced that he is preparing to invest billions of dollars to build a new generation of nuclear power plant projects in Wyoming to meet the increasing demand for electricity in the United States.
According to the Futu Securities App, Microsoft (MSFT.US) co-founder Bill Gates announced that he is preparing to invest billions of dollars to build a new generation of nuclear power plant projects in Wyoming to meet the increasing demand for electricity in the United States.
TerraPower LLC, the startup company founded by Gates, broke ground on its first commercial reactor in Wyoming last week, while a coal-fired power plant in the state is being shut down. Since 2008, TerraPower has been exploring simpler and cheaper reactors and plans to build a new reactor by 2030.
According to Bloomberg Billionaires Index, Gates is the sixth richest person in the world and said, "I have invested over $1 billion and I will invest billions more."
TerraPower's factory is supported by the United States Department of Energy and was originally expected to start operating in 2028. But Gates said it would mean relying on Russian fuel, which is "unacceptable now."
The reactor is designed to use liquid sodium instead of water as a coolant and includes a molten salt that can store heat to increase output. TerraPower plans to purchase reactor fuel from the United States and its allies.
Gates said, "Natural gas is replacing coal. So what we have to do is compete effectively with natural gas."
Carbon-free nuclear energy is increasingly seen as a key part of addressing climate change, and more and more companies are promoting small reactors. According to reports, at COP28 climate change conference held in Dubai last year, 25 countries announced an ambition to double nuclear power generation.