TerraPower raises $750M for nuclear energy, health innovation
Updated: Aug 22, 2022
The nuclear innovation company TerraPower, co-founded by Bill Gates, announced $750 million in new funding this week to develop nuclear energy technology and innovations in nuclear medicine.
“This is great news and goes to show the tremendous amount of interest in nuclear as a major part of a green energy future,” said Ian Horvath, founder and CEO of Serva Energy. “TerraPower has been working for over a decade on new nuclear technologies. With this infusion, they will move forward on their plan to build their first reactor on the site of a retiring coal power plant in Wyoming. It’s exciting to see their progress and the global interest for replacing coal and other forms of dirty energy with clean burning nuclear.”
TerraPower’s Isotope program, largely focused on creating Actinium-225 (Ac225), will also benefit from the new funding.
“Policymakers, environmentalists, and increasingly the general public are coming to understand the importance of nuclear power as a critical component in the green energy revolution,” said Dr. Sarah Jones, Vice President of Serva Medical.
“What many are less aware of is the power of nuclear medicine to diagnose and treat multiple diseases. TerraPower is focused on a method to extract the promising medical isotope Ac225 from the spent fuel from the MSR program of the 1970s. This will aid the demand by researchers to continue testing and exploring new treatments for what is quickly becoming known as a cure for many types of cancer, and will be an excellent stop gap while companies like Serva Energy work towards long-term domestic production of this invaluable isotope.”
Read more on this nuclear innovation development.