![[TerraPower.png|300]] Website: [terrapower.com](https://www.terrapower.com) ### Introduction TerraPower is a nuclear innovation company founded in 2006 by Bill Gates and a group of like-minded visionaries, with the mission to develop advanced nuclear energy technologies that provide safe, affordable, and carbon-free energy solutions to address global energy demands and climate change. Headquartered in Bellevue, Washington, TerraPower focuses on next-generation nuclear reactors and related technologies, aiming to revolutionize the nuclear industry with designs that enhance safety, efficiency, and sustainability. While exact employee counts are not publicly disclosed in the latest data, the company is known to employ a significant team of engineers, scientists, and nuclear experts to drive its ambitious projects. As a privately held company, TerraPower is not publicly traded, and thus, no ticker symbol exists. Investment in the company is restricted to institutional and strategic backers, with no public stock offerings available as of the latest information in 2025 [The Motley Fool](https://www.fool.com/investing/how-to-invest/stocks/how-to-invest-in-terrapower-stock/). Supported by high-profile investors and government partnerships, TerraPower is positioned as a leader in the advanced nuclear sector, working to bring its innovative designs to commercial reality. ### Key Products and Technology - **Natrium Reactor (Sodium-Cooled Fast Reactor with Energy Storage)** - **Technical Specifications**: 345 MWe power output, designed for high efficiency with a molten salt energy storage system that allows for dispatchable power generation to match grid demand. - **Fuel Type**: Uses metallic fuel, with potential for high-assay low-enriched uranium (HALEU), enabling longer fuel cycles and reduced waste. - **Key Differentiators**: Combines a sodium-cooled reactor with molten salt storage, operating at ambient pressure to reduce costs; offers enhanced safety with passive cooling systems and a design that minimizes meltdown risks; significantly smaller footprint compared to traditional 1,000 MWe reactors. - **Development Stage**: Under construction; ground was broken in June 2024 for a demonstration project in Kemmerer, Wyoming, at a retired coal plant site, with commercial operation targeted for 2031 [Neutron Bytes](https://neutronbytes.com/2025/11/20/terrapower-natrium-reactor-on-the-grid-by-2031/). - **Target Customers**: Utilities seeking baseload and flexible grid power, industrial users, and government entities transitioning from fossil fuels. TerraPower’s flagship Natrium technology stands out for its integration of energy storage, addressing one of the key challenges of nuclear power by allowing output to be adjusted based on grid needs. The company also explores applications in medical isotopes for cancer treatment, though this remains secondary to its reactor development [terrapower.com](https://www.terrapower.com). ### Regulatory and Licensing Status TerraPower has made significant progress in navigating the regulatory landscape for its Natrium reactor. The company applied for a construction permit with the U.S. Nuclear Regulatory Commission (NRC) in March 2024 and achieved a major milestone in December 2025, when the Natrium reactor became the first commercial-scale advanced reactor technology to complete its final safety evaluation by the NRC, as announced by TerraPower on social media platforms [X post by TerraPower](https://x.com/TerraPower). Additionally, the project cleared a full environmental review in October 2025, marking it as the first advanced commercial nuclear plant to pass this hurdle in the U.S. [Interesting Engineering](https://interestingengineering.com/energy/terrapower-nuclear-reactor-gets-us-approval). Key upcoming milestones include the finalization of the construction permit and combined operating license, expected to be processed in the coming years. The estimated timeline for first commercial deployment remains on track for 2031, as reiterated by TerraPower leadership [Neutron Bytes](https://neutronbytes.com/2025/11/20/terrapower-natrium-reactor-on-the-grid-by-2031/). Internationally, TerraPower has also submitted its reactor design for regulatory approval in the UK as of October 2025, marking its first step into global markets [Reuters](https://www.reuters.com/sustainability/climate-energy/bill-gates-backed-terrapower-seeks-uk-approval-nuclear-reactor-design-2025-10-28/). ### Team and Leadership - **Bill Gates (Founder and Chairman)**: A globally recognized philanthropist and technology innovator, Gates founded TerraPower to address energy and climate challenges through advanced nuclear solutions. His vision drives the company’s mission. - **Chris Levesque (CEO)**: With over 30 years of experience in the nuclear industry, Levesque oversees TerraPower’s strategic direction and project execution, including the Natrium demonstration project. He has been vocal about the company’s progress in recent interviews [GeekWire](https://www.geekwire.com/2025/terrapower-ceo-says-company-on-track-to-deploy-first-of-a-kind-next-gen-nuclear-plant-in-5-years/). - **Eric Williams (Executive Vice President and COO)**: Williams manages operations and has provided updates on the Natrium project’s timeline, emphasizing the 2031 commercial operation target [Neutron Bytes](https://neutronbytes.com/2025/11/20/terrapower-natrium-reactor-on-the-grid-by-2031/). Verified social media handles for leadership are not widely publicized in the available data, and thus are omitted here. ### Funding and Financial Position TerraPower has secured substantial funding to support its ambitious goals. As of the latest reported round in August 2022, the company raised $750 million, with significant contributions from Bill Gates and other private investors [Bloomberg via X](https://x.com/business). The total funding raised to date is not fully disclosed in recent public records, but historical investments and government support through the U.S. Department of Energy (DOE) Advanced Reactor Demonstration Program (ARDP) provide substantial backing. The DOE awarded TerraPower up to $2 billion in cost-share funding for the Natrium demonstration project in Wyoming, contingent on meeting project milestones [DOE.gov](https://www.energy.gov). As a private company, TerraPower does not report revenue or market cap data. It remains in a pre-revenue stage, focusing on technology development and demonstration rather than commercial contracts at this time. Key backers include Bill Gates as the primary investor, alongside strategic partnerships with entities like the DOE and industry collaborators. ### Recent News and Developments | Date | Event | Details | |----------------|------------------------------------|---------------------------------------------------------------------------------------------------| | Dec 23, 2025 | NRC Safety Evaluation Completed | Natrium reactor becomes the first advanced commercial reactor to complete NRC safety evaluation [X post by TerraPower](https://x.com/TerraPower). | | Oct 28, 2025 | UK Regulatory Submission | TerraPower submits Natrium design for regulatory approval in the UK, marking international expansion [Reuters](https://www.reuters.com/sustainability/climate-energy/bill-gates-backed-terrapower-seeks-uk-approval-nuclear-reactor-design-2025-10-28/). | | Oct 25, 2025 | Environmental Review Clearance | Natrium project passes full NRC environmental review, a major step toward construction [Interesting Engineering](https://interestingengineering.com/energy/terrapower-nuclear-reactor-gets-us-approval). | | Jun 10, 2024 | Groundbreaking in Wyoming | TerraPower breaks ground on Natrium demonstration project in Kemmerer, WY, with local and government support [X post by TerraPower](https://x.com/TerraPower). | | Mar 19, 2024 | NRC Construction Permit Filing | TerraPower applies for construction permit for Natrium reactor, targeting 2030 completion [X post by Jesse Jenkins](https://x.com/JesseJenkins). | ### Partnerships and Collaborations - **U.S. Department of Energy (DOE)**: Through the ARDP, TerraPower receives up to $2 billion in cost-share funding for the Natrium demonstration project, providing critical financial and technical support for deployment [DOE.gov](https://www.energy.gov). - **[[GE Vernova Hitachi Nuclear Energy|GE Hitachi]] Nuclear Energy**: Collaborates on the design and development of the Natrium reactor, leveraging [[GE Vernova Hitachi Nuclear Energy|GE Hitachi]]’s expertise in nuclear technology for engineering and commercialization [terrapower.com](https://www.terrapower.com). - **PacifiCorp**: A utility partner for the Wyoming project, PacifiCorp plans to integrate Natrium’s output into its grid, supporting the transition from coal to clean energy in the region [Utility Dive](https://www.utilitydive.com/news/terrapower-smr-advanced-nuclear-reactor-bill-gates/718722/). - **China National Nuclear Corporation ([[CNNC]])**: Historical agreement signed in 2015 to build a prototype reactor in China, though updates on this partnership’s progress are limited as of 2025 [Wikipedia](https://en.wikipedia.org/wiki/TerraPower). ### New Hampshire Relevance TerraPower’s Natrium technology could have potential relevance for [[New Hampshire]], particularly given the state’s existing nuclear infrastructure and energy needs. New Hampshire hosts [[Seabrook Station]], a 1,244 MWe pressurized water reactor, and is part of the ISO New England (ISO-NE) grid, which faces increasing demand for clean, reliable baseload power due to data center growth and electrification trends. Natrium’s 345 MWe output and dispatchable energy storage system align well with grid needs for flexible power, potentially complementing or replacing aging infrastructure like Seabrook if long-term relicensing challenges arise. However, TerraPower’s technology readiness timeline (commercial operation targeted for 2031) may not align with immediate NH deployment needs, as the state’s legislative initiatives, such as HB 710 which explores SMR feasibility, prioritize nearer-term solutions. Natrium’s applications could include grid power for ISO-NE, direct power for data centers in southern NH, or industrial heat for manufacturing sectors. While there is no direct evidence of TerraPower expressing interest in the Northeast U.S., the company’s recent UK regulatory submission indicates openness to diverse markets [Reuters](https://www.reuters.com/sustainability/climate-energy/bill-gates-backed-terrapower-seeks-uk-approval-nuclear-reactor-design-2025-10-28/). New Hampshire’s cold climate and regulatory environment could pose challenges, but its pro-nuclear stance under recent SMR provisions suggests a potential future fit. ### Competitive Position TerraPower competes with other advanced nuclear developers like [[NuScale Power]], which focuses on light-water SMRs (77 MWe per module) and has already received NRC design certification, positioning it closer to deployment. [[X-energy]], another competitor, develops high-temperature gas-cooled reactors (80 MWe per module) with a focus on industrial heat applications, offering a different niche. TerraPower’s unique advantage lies in Natrium’s sodium-cooled design paired with molten salt storage, providing grid flexibility unmatched by competitors. However, risks include longer timelines to commercialization compared to [[NuScale Power|NuScale]] and potential cost overruns typical of first-of-a-kind projects. TerraPower’s strong backing from Bill Gates and the DOE provides a financial edge, though regulatory delays could impact its competitive stance. ### Closing Note TerraPower is at a pivotal stage, with construction underway for its Natrium reactor and key regulatory milestones achieved, signaling a promising trajectory toward commercial advanced nuclear energy by 2031. *Report generated December 24, 2025*