The Nuclear Regulatory Commission has approved TerraPower, the startup founded by Bill Gates, to build a Natrium nuclear reactor adjacent to a retiring coal plant in Wyoming. This marks the first commercial reactor permit issued by the NRC in almost ten years and signals a renewed push for advanced nuclear technology in the United States. Backed by tech giant Nvidia, TerraPower has collaborated with GE Vernova Hitachi to develop a 345-megawatt reactor—smaller than typical modern nuclear plants but significantly larger than many small modular reactors currently under development.
Natrium’s design diverges sharply from conventional reactors, using molten sodium instead of water for cooling. TerraPower argues this innovation improves safety and efficiency. The reactor will store excess molten sodium in insulated tanks, allowing energy generated during low demand to be preserved as heat and deployed when renewable sources like wind and solar dip in output. This energy storage approach aims to reduce operational costs by keeping the reactor near full capacity, where nuclear plants perform most efficiently.
The NRC approval is particularly significant because TerraPower followed the traditional permitting route, unlike recent Department of Energy adjustments that relax rules for agency-owned land. TerraPower’s achievement underscores growing interest in nuclear power among tech-backed startups, especially as data center growth and rising electricity demand pressure the government to expand generating capacity.
Investors have noticed the trend, pouring over $1 billion into nuclear startups in recent months. TerraPower alone has raised $1.7 billion to date, including a $650 million funding round in June, according to PitchBook data. Despite the surge in capital, nuclear energy faces major hurdles. Traditional nuclear plants have been expensive to build, and falling costs for solar, wind, and battery storage have made competition fierce. Startups hope mass manufacturing will eventually curb expenses, but such efficiencies are expected to take a decade or more to materialize.
