Bill Gates-founded nuclear company aims for ‘rapid deployment’ in coming years
TerraPower, the US nuclear company co-founded by Bill Gates, announced it has signed agreements with South Korea’s HD Hyundai and Hyundai Engineering & Construction (HDEC) to support the rapid commercialisation and deployment of a fleet of Natrium reactor and integrated energy storage plants in the coming years.
During a signing ceremony in New York, TerraPower and HD Hyundai signed a supply framework agreement that establishes HD Hyundai Heavy Industries (HHI), a shipbuilding subsidiary of HD Hyundai, as a preferred manufacturer for Natrium reactor enclosure system components. TerraPower said the agreement secures a scalable supply chain for serial production of Natrium reactors.
HHI was selected as the manufacturing partner following a thorough review of its fabrication capabilities, large-scale industrial production expertise and proven track record in precision manufacturing for the energy sector.
In a separate agreement, TerraPower, HD Hyundai and HDEC outlined a strategy to leverage HD Hyundai and HDEC’s expertise in project delivery and execution excellence to support TerraPower’s commercialisation plans.
The three companies plan to collaborate on the design, manufacturing, supply chain, construction, commercial structure and delivery of multiple units of TerraPower’s Natrium technology. TerraPower said this collaboration will be vital to shaping fleet deployment and the financing of Natrium reactors.
TerraPower says its Natrium technology is the first mover in the advanced reactor sector and is well positioned to support rapidly increasing energy demand.
The Natrium plant design features a 345 MW sodium-cooled fast reactor with a patented molten salt-based energy storage system. The storage technology can boost the system’s output to 500 MW of power when needed as it is designed to keep base output steady, ensuring constant reliability, and can quickly ramp up when demand peak. It is the only advanced reactor design with this unique feature.
The first Natrium plant is being built at a former coal site in Kemmerer, Wyoming. That project is expected to be completed in 2030 and will be the first utility-scale advanced nuclear power plant in the US.
TerraPower said it is rapidly commercialising the Natrium technology, which includes an agreement with Meta for up to eight Natrium plants by 2035.
