Bill Gates co-founded TerraPower LLC looking for new partners pursuing nuclear energy

TerraPower aim to use depleted uranium as the fuel for its nuclear reactors.

As per a report from the Wall Street Journal, a nuclear energy venture co-founded and chaired by Bill Gates is looking for a new partner for early stage trials of its technology following new U.S. rules which have come in the wake of the U.S.-China trade wars, which forced it to abandon an agreement with China.

In 2017, TerraPower LLC, had reached an agreement with China National Nuclear Corp, a state-owned company, to build an experimental nuclear reactor south of Beijing.

Last week, an essay published by Gates stated TerraPower is unlikley to move ahead with its existing plans in the face of new U.S. restrictions on technology deals with Beijing.

As a result, TerraPower LLC is unsure in which country to conduct trials for its technology which uses depleted uranium as the fuel for its nuclear reactors.

“We’re regrouping,” said Chris Levesque, TerraPower LLC’s CEO, “Maybe we can find another partner.”

In October 2018, the U.S. Department of Energy had announced new measures which restricts technology deals with Chinese company, in view of the broader plan by the Trump administration to limit Beijing’s ability to access U.S technologies that are of strategic significance.

In the essay, Gates wrote, regulations in the U.S. are currently too restrictive to allow the prototype of the reactor to be built domestically.

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Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy, Sustainability

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