Bill Gates backed TerraPower's nuclear power plant delay due to Russia's limited fuel supply
Billionaire Bill Gates and the US Department of Energy-backed nuclear power project will be delayed due to the crisis in the supply of Russian-made special fuel due to the war in Ukraine.
What happened: TerraPower, the company that built it, said the Wyoming-based project had been running for at least two years, Reuters reported.
See also: Bill Gates and Jeff Bezos make big bets on Neuralink Rival - But is Elon Musk worried?
Last year, TerraPower announced that its $4 billion Natrium demonstration plant would be built in Kemmerer, Wyoming, on a site where a coal plant is scheduled to close in 2025 .
TerraPower and other US companies are trying to develop a new generation of small nuclear power plants to help reduce carbon emissions. However, they face difficulties because the company that sells the fuel they need is Russian.
"Russia's invasion of Ukraine has rendered the only commercial source of HALEU [high-dosage low-enriched uranium] fuel no longer a viable part of the supply chain. supply for TerraPower, as well as others in our industry,” said Chris Levesque, President and CEO of TerraPower.
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Levesque added that TerraPower expects a minimum period of two years to be able to commission the Natrium reactor.
The 345-megawatt plant was scheduled to open in 2028. To ease the supply shortage, the U.S. Department of Energy is looking to reduce some of its uranium inventory by military quality.
Read next: Bill Gates says he admires this world leader: 'I'll never forget the example he set'< /em>
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Billionaire Bill Gates and the US Department of Energy-backed nuclear power project will be delayed due to the crisis in the supply of Russian-made special fuel due to the war in Ukraine.
What happened: TerraPower, the company that built it, said the Wyoming-based project had been running for at least two years, Reuters reported.
See also: Bill Gates and Jeff Bezos make big bets on Neuralink Rival - But is Elon Musk worried?
Last year, TerraPower announced that its $4 billion Natrium demonstration plant would be built in Kemmerer, Wyoming, on a site where a coal plant is scheduled to close in 2025 .
TerraPower and other US companies are trying to develop a new generation of small nuclear power plants to help reduce carbon emissions. However, they face difficulties because the company that sells the fuel they need is Russian.
"Russia's invasion of Ukraine has rendered the only commercial source of HALEU [high-dosage low-enriched uranium] fuel no longer a viable part of the supply chain. supply for TerraPower, as well as others in our industry,” said Chris Levesque, President and CEO of TerraPower.
Find out more Benzinga coverage in Europe and Asia innext < em class="core-block">this link.
Levesque added that TerraPower expects a minimum period of two years to be able to commission the Natrium reactor.
The 345-megawatt plant was scheduled to open in 2028. To ease the supply shortage, the U.S. Department of Energy is looking to reduce some of its uranium inventory by military quality.
Read next: Bill Gates says he admires this world leader: 'I'll never forget the example he set'< /em>
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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