TerraPower, a company seeking to commercialize a novel nuclear-power technology which has the enthusiastic backing of Bill Gates, has raised $35 million in venture funding.
The basic idea behind traveling-wave reactors is to use a small amount of enriched uranium and spent uranium fuel from traditional nuclear-power plants to produce electricity. Rather than needing to refuel every several years, these reactors would be able to operate for decades without refueling.
The company's goal is to have a working machine by 2020.
The basic idea behind traveling-wave reactors is to use a small amount of enriched uranium and spent uranium fuel from traditional nuclear-power plants to produce electricity. Rather than needing to refuel every several years, these reactors would be able to operate for decades without refueling.
The company's goal is to have a working machine by 2020.
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