Bill Gates-backed nuclear energy startup breaks ground in Wyoming

“Mr. President, the nuclear option is on the table”... is what TerraPower, a nuclear energy startup backed by Bill Gates, probably said this week after breaking ground in Wyoming on what it hopes will be the first in a new generation of American nuclear power plants.

Why it matters: Many see nuclear power as essential to a green energy transition, since it can be used to generate electricity without emitting any carbon dioxide as a by-product. This Wyoming project is the first time in about four decades that a company has tried to get an advanced reactor up and running as a commercial power plant in the US.

A new type of nuclear reactor

TerraPower’s nuclear reactors, which are designed to be smaller and cheaper than traditional reactors of old, have a few things going for them (which is nice):

• Instead of using highly pressurized water for neutron moderation and coolant, TerraPower’s reactors utilize liquid sodium – allowing it to operate at lower pressures and reducing the need for thick shielding.
• Chris Levesque, TerraPower’s CEO, told the NY Times that its reactors should ultimately produce electricity at half the cost of traditional nuclear plants.

But challenges still remain. Namely – meeting the budget ($4 billion) and timeline (2030-ish). The only two American reactors built in the last 30 years, Vogtle Units 3 and 4 in Georgia, cost $35 billion, more than double initial estimates, and arrived seven years behind schedule. TerraPower’s reactor also still requires approval from the Nuclear Regulatory Commission to begin operating commercially.