Bill Gates, the sixth richest person worldwide, announced plans to invest billions of dollars into a next-gen nuclear power plant project in Wyoming. This bold move aims to address the increasing electricity needs in the United States.
A Step Towards Cleaner Energy
The company spearheading the initiative, TerraPower LLC, was founded by Gates himself. The company started construction of its first commercial reactor in Wyoming last week. This location was specifically chosen due to the impending shutdown of a coal plant in the area. As Gates stated on CBS’s Face the Nation, TerraPower has been researching simpler and cost-effective reactors since 2008, with the aim to complete the new reactor by 2030.
“I put in over a billion, and I’ll put in billions more,” Gates confidently declared, indicating his commitment to the project.
U.S Department of Energy Backs the Project
The nuclear power plant project, supported by the U.S Department of Energy, was initially projected to be operational by 2028. However, this would have meant relying on fuel from Russia, which Gates deemed “unacceptable now” during an interview on CNN’s Fareed Zakaria GPS.
Innovative Reactor Design
The reactor’s design uses liquid sodium as a coolant as opposed to water, and includes molten salt to store heat, thereby enhancing its output. TerraPower plans to source reactor fuel from the U.S and its allies, stated Gates.
“Coal is being outcompeted by natural gas,” Gates told CNN. “And so what we have to do is compete effectively with natural gas.”
Increasing Focus on Nuclear Power
The shift towards carbon-free nuclear power is seen as a crucial step in combating climate change. More companies are advocating for smaller reactors. During the COP28 climate change conference in Dubai last year, 25 nations declared an ambition to triple their nuclear capacity, according to BloombergNEF.
Key Points:
- Bill Gates plans to invest billions into a next-gen nuclear power plant project in Wyoming.
- The project, led by TerraPower LLC, aims to complete the new reactor by 2030.
- The project has backing from the U.S Department of Energy.
- Reactors will use liquid sodium as a coolant and molten salt to store heat, enhancing output.
- There is an increasing global shift towards carbon-free nuclear power to combat climate change.
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