Trending...
- Spokane Police Department and SPD Cadets Engage with the Logan Community to Discuss Crime Prevention in the Neighborhood
- Spokane: Flags to be Lowered for Trooper Killed in Line of Duty
- Price Improvement on Luxurious Lāna'i Townhome with Stunning Ocean Views
BELLEVUE, Wash.--(BUSINESS WIRE)--TerraPower, a leading nuclear innovation company, announced today the close of an equity raise that yields a minimum of $750 million. This is one of the largest advanced nuclear fundraises to-date.
The fundraise was co-led by SK Inc. and SK Innovation (collectively, "SK") and TerraPower's founder Bill Gates. SK invested $250 million. SK Group is among South Korea's largest energy providers and the second-largest conglomerate. Additional funding will come from other investors.
This fundraise enhances TerraPower's groundbreaking work in advanced nuclear energy technologies and nuclear medicine.
"TerraPower is committed to solving some of the toughest challenges that face this generation through innovation," said TerraPower President and CEO Chris Levesque. "Whether it's addressing climate change with carbon-free advanced nuclear energy, or fighting cancer with nuclear isotopes, our team is deploying technology solutions and investors across the world are taking note."
TerraPower is experiencing terrific growth, partially driven by the U.S. Department of Energy's Advanced Reactor Demonstration Program (ARDP) award and the construction of the Natrium™ demonstration plant1 at a retiring coal facility in Wyoming. Part of the ARDP award requires a match of 50% of project costs, up to $2 billion. This new fundraise further builds on the support of existing investors and will support TerraPower's current implementation efforts.
The TerraPower Isotopes (TPI) program is supporting the transformation of the fight against cancer by advancing the next generation of isotopes. TPI has unique access to Actinium-225 and is working to provide this isotope to the pharmaceutical community for the development of drugs that target and treat cancer.
Moohwan Kim, Executive Vice President and Head of Green Investment Center at SK Inc. noted that "SK is excited to expand our energy, technology and bioscience investments with leading companies in the U.S. We are committed to supporting TerraPower's global deployment of game changing products. We see important synergies in our businesses and this investment reinforces our strategic global carbon reduction goals."
More on Washingtoner
Credit Suisse acted as the exclusive placement agent to TerraPower. Perkins Coie LLP acted as outside corporate counsel to TerraPower. TerraPower will continue to be a privately held company. Further terms of the fundraise were not disclosed.
About TerraPower
TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement and other cutting-edge opportunities. It accepts and tackles some of the world's most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world's public and private sectors to answer pressing global needs. Learn more at terrapower.com.
About SK Group
SK Group, South Korea's second-largest conglomerate according to the Korea Fair Trade Commission, is a collection of global industry-leading companies driving innovations in semiconductors, sustainable energy, telecommunications and life sciences. For more information, visit eng.sk.com.
About SK Inc.
Established in 2007, SK Inc. (formally known as "SK Holdings Co., Ltd.") is a holding company of SK Group with specialization in investment activities, headquartered in Seoul and ranks 117th on the Fortune Global 500 list. The company's investment principles and strategies target environmental, social and governance (ESG) priorities alongside financial returns to drive sustainable growth for its stakeholders and society. The strategic investment areas of SK Inc. include advanced materials, biopharmaceutical, green energy, and digital technologies. For more information on SK Inc., visit sk-inc.com/en/.
More on Washingtoner
About SK Innovation Co., Ltd.
Established as South Korea's first and largest oil refining company in 1962, now leading the way toward 'Green Energy & Materials Company' with the ESG value. SK Innovation is a SK Group intermediate holding company in energy, petrochemical, lubricants, E&P, e-mobility battery, information and electronic materials businesses along with eight major subsidiaries. SK Innovation has established a value chain in its businesses with a vertical integration from E&P to producing petrochemical products and expanded the green portfolio through continuous investment in battery and materials sectors. SK Innovation and its subsidiaries are accelerating its future eco-friendly business such as plastic recycling, CCS (Carbon Capture & Storage) and BMR (Battery Metal Recycling) businesses. SK Innovation is also considering various new businesses to play the role of 'Portfolio Designer & Developer.' For more information, visit eng.skinnovation.com.
_________________
1 A TerraPower and GE Hitachi technology
Contacts
Media
TerraPower: press@terrapower.com
The fundraise was co-led by SK Inc. and SK Innovation (collectively, "SK") and TerraPower's founder Bill Gates. SK invested $250 million. SK Group is among South Korea's largest energy providers and the second-largest conglomerate. Additional funding will come from other investors.
This fundraise enhances TerraPower's groundbreaking work in advanced nuclear energy technologies and nuclear medicine.
"TerraPower is committed to solving some of the toughest challenges that face this generation through innovation," said TerraPower President and CEO Chris Levesque. "Whether it's addressing climate change with carbon-free advanced nuclear energy, or fighting cancer with nuclear isotopes, our team is deploying technology solutions and investors across the world are taking note."
TerraPower is experiencing terrific growth, partially driven by the U.S. Department of Energy's Advanced Reactor Demonstration Program (ARDP) award and the construction of the Natrium™ demonstration plant1 at a retiring coal facility in Wyoming. Part of the ARDP award requires a match of 50% of project costs, up to $2 billion. This new fundraise further builds on the support of existing investors and will support TerraPower's current implementation efforts.
The TerraPower Isotopes (TPI) program is supporting the transformation of the fight against cancer by advancing the next generation of isotopes. TPI has unique access to Actinium-225 and is working to provide this isotope to the pharmaceutical community for the development of drugs that target and treat cancer.
Moohwan Kim, Executive Vice President and Head of Green Investment Center at SK Inc. noted that "SK is excited to expand our energy, technology and bioscience investments with leading companies in the U.S. We are committed to supporting TerraPower's global deployment of game changing products. We see important synergies in our businesses and this investment reinforces our strategic global carbon reduction goals."
More on Washingtoner
- Spokane: Flags to be Lowered for Trooper Killed in Line of Duty
- eJoule Inc Participates in Silicon Dragon CES 2026
- HBZBZL Unveils "Intelligent Ecosystem" Strategy: Integrating AI Analytics with Web3 Incubation
- Kaltra Launches Next-Gen MCHEdesign With Full Integration Into MCHEselect — Instant Simulation & Seamless Microchannel Coil Workflow
- A Well-Fed World, Youth Climate Save and PAN International Launch PHRESH: A Global Directory of Plant-Based Hunger Relief Organizations
Credit Suisse acted as the exclusive placement agent to TerraPower. Perkins Coie LLP acted as outside corporate counsel to TerraPower. TerraPower will continue to be a privately held company. Further terms of the fundraise were not disclosed.
About TerraPower
TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement and other cutting-edge opportunities. It accepts and tackles some of the world's most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world's public and private sectors to answer pressing global needs. Learn more at terrapower.com.
About SK Group
SK Group, South Korea's second-largest conglomerate according to the Korea Fair Trade Commission, is a collection of global industry-leading companies driving innovations in semiconductors, sustainable energy, telecommunications and life sciences. For more information, visit eng.sk.com.
About SK Inc.
Established in 2007, SK Inc. (formally known as "SK Holdings Co., Ltd.") is a holding company of SK Group with specialization in investment activities, headquartered in Seoul and ranks 117th on the Fortune Global 500 list. The company's investment principles and strategies target environmental, social and governance (ESG) priorities alongside financial returns to drive sustainable growth for its stakeholders and society. The strategic investment areas of SK Inc. include advanced materials, biopharmaceutical, green energy, and digital technologies. For more information on SK Inc., visit sk-inc.com/en/.
More on Washingtoner
- Spokane: Shoplifting Blitz Nets Multiple Arrests as SPD Works to Curb Retail Thefts; Emphasis Continues as Christmas Approaches
- Haven Treatment Center Licensing Delays by Washington State Impeding Mental Health Access
- Tacoma: Update in SR-509 Fatal Collision Investigation: Vehicle of Interest Impounded
- Sexual Assault Suspect That Fled Spokane Area, Arrested in Connecticut; Extradition to Washington State Pending
- Spokane Police Department and SPD Cadets Engage with the Logan Community to Discuss Crime Prevention in the Neighborhood
About SK Innovation Co., Ltd.
Established as South Korea's first and largest oil refining company in 1962, now leading the way toward 'Green Energy & Materials Company' with the ESG value. SK Innovation is a SK Group intermediate holding company in energy, petrochemical, lubricants, E&P, e-mobility battery, information and electronic materials businesses along with eight major subsidiaries. SK Innovation has established a value chain in its businesses with a vertical integration from E&P to producing petrochemical products and expanded the green portfolio through continuous investment in battery and materials sectors. SK Innovation and its subsidiaries are accelerating its future eco-friendly business such as plastic recycling, CCS (Carbon Capture & Storage) and BMR (Battery Metal Recycling) businesses. SK Innovation is also considering various new businesses to play the role of 'Portfolio Designer & Developer.' For more information, visit eng.skinnovation.com.
_________________
1 A TerraPower and GE Hitachi technology
Contacts
Media
TerraPower: press@terrapower.com
0 Comments
Latest on Washingtoner
- Justin Jeansonne An Emerging Country Singer-Songwriter Music Fans Have Been Waiting For…a True Maverick
- Russellville Huntington Learning Center Expands Access to Literacy Support; Approved Provider Under Arkansas Department of Education
- Tacoma Police Seeking Vehicle of Interest in Fatal Collision Involving Washington State Patrol Trooper on SR-509
- UK Financial Ltd Launches U.S. Operations Following Delaware Approval
- Pinealage: the app that turns strangers into meditation companions — in crowdfunding phase
- Proform Builds Completes Two Luxury Seattle Waterfront Renovation Projects
- "Micro-Studio": Why San Diegans are Swapping Crowded Gyms for Private, One-on-One Training at Sweat Society
- City of Spokane Seeks Applicants for Park Board
- South Spokane Standoff Ends Peacefully After Suspect Surrenders to Officers
- Beycome Closes $2.5M Seed Round Led by InsurTech Fund
- City of Vancouver Delaying Haven Treatment Center Facility's Certificate of Occupancy
- City of Spokane, Spokane County, Spokane Regional Emergency Communications Approve Interlocal Agreement to Support Safe, Coordinated Transition of Emergency Communication Services
- Tru by Hilton Columbia South Opens to Guests
- Christy Sports donates $56K in new gear to SOS Outreach to help kids hit the slopes
- "BigPirate" Sets Sail: A New Narrative-Driven Social Casino Adventure
- Phinge CEO Ranked #1 Globally by Crunchbase for the Last Week, Will Be in Las Vegas Jan. 4-9, the Week of CES to Discuss Netverse & IPO Coming in 2026
- Plainsight Announces Jonathan Simkins as New CEO, Succeeding Kit Merker
- Women's Everyday Safety Is Changing - The Blue Luna Shows How
- Microgaming Unveils Red Papaya: A New Studio Delivering Cutting-Edge, Feature-Rich Slots
- RollCraft Launches Pre-Roll Automation Machines for Producers Scaling Production in 2026