All Access

Climate Deals

Standard

Climate Deals Thought Bubble

Thought Bubble

Climate Deals Alerts

Alert

mustard

BFD Expert Voices - Climate Deals

BFD Expert Voices

America's next new nuclear reactor could be built in Wyoming by TerraPower, the advanced nuclear energy developer co-founded by tech billionaire Bill Gates.

Why it matters: Advanced nuclear projects have struggled to move forward in the U.S., hit by financing constraints and a slow-moving regulatory process.

Driving the news: Last Friday, TerraPower said it filed an application for a construction license to the Nuclear Regulatory Commission for Unit 1 of its Natrium reactor demonstration project in Kemmerer, Wyo.

TerraPower President and CEO Chris Levesque tells Axios the submitted application makes TerraPower's project the only advanced nuclear plant currently in front of the NRC for a construction permit and "the next reactor scheduled to go online in the U.S."

The project "will be America's next reactor online in 2030," said Levesque.

Zoom in: The NRC confirmed with Axios that it received the application and said it's checking it for protected information before it's made public.

A spokesperson for the NRC said that it usually takes several weeks to determine whether an application is complete enough for a full technical review.

If TerraPower's application is complete, the NRC will start its technical work and give TerraPower an estimate for reaching a decision on the permit. Generally, technical reviews take about 36 months.

TerraPower's application will be the first time the NRC reviews an application for a commercial nuclear power plant using a sodium-cooled design.

Yes, but: Advanced small nuclear reactors like the one TerraPower plans to build have a history of getting delayed in the U.S.

NuScale was going to be the first American SMR, but the company ended up canceling the project as costs soared in November.

Other contenders for the next reactor include the restart of the shuttered Palisades plant in Michigan and the Tennessee Valley Authority's plan to deploy an SMR from GE Hitachi.

TerraPower's own project was previously delayed by two years because at the time Russia was the only source of fuel it needed (called high-assay low-enriched uranium, or HALEU).

How it works: TerraPower's Natrium reactor design uses liquid sodium as a coolant instead of water, which the company says lowers costs.

The company has raised almost $1 billion and has a commitment for close to $2 billion from the Department of Energy to build the reactor.

Utility PacifiCorp will own and operate the plant as part of its energy generation fleet.

The big picture: The number of planned advanced modular nuclear projects globally has grown by over 65% over the last three years as power companies and countries turn to nuclear as a crucial carbon-free form of reliable power.

Long queues for transmission lines for solar and wind have also made next-gen nuclear an interesting option.

Yet construction costs have soared in recent years, partly due to inflation. Construction costs for the NuScale projects climbed from $5.3 billion to $9.3 billion.

What's next: TerraPower will have to submit a separate application for a license to operate its reactor.

TerraPower's Wyoming project could be America's next nuclear reactor

The reactor uses liquid sodium for cooling instead of water

A rendering of TerraPower's Natrium advanced nuclear reactor in Wyoming

A rendering of an advanced nuclear reactor planned in Kemmerer, Wyo. Image: Courtesy of TerraPower

Nuclear power

America&#x27;s next new nuclear reactor could be built in Wyoming by TerraPower, the advanced nuclear energy developer co-founded by tech billionaire Bill Gates.Why it matters: Advanced nuclear projects have struggled to move forward in the U.S., hit by financing constraints and a slow-moving regulatory process.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

c-suite

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

boulder

detroit

kansas-city

columbus

austin

dallas

atlanta

washington-dc

nw-arkansas

chicago

indianapolis

nashville

richmond

colorado-springs

houston

san-francisco

seattle

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

huntsville

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

TerraPower's Wyoming project could be America's next nuclear reactor

What to read next