Trending...
- Spokane: New Scam Targeting Families Of Out-Of-Custody Defendants
- ReviewsAlly Launches Evidence-Based Review Platform for VPNs, Business Software, and Online Services
- Finland Sets Casino Gambling Risk Limits at 2% of Income, 4 Days, 2 Game Types
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
- Salt Lake City Families Turn to Private Autopsy Services for Faster Answers After Unexpected Loss
- SPD Seeking Assistance Regarding Motorcycle Collision in North Spokane
- K2 Integrity's U.S. and EMEA Teams Again Recognized in Chambers and Partners 2026 Guides
- Connecta Satellite Solutions Ready to Support Emergency Communications Following the Venezuela Earthquake
- NUSACC Supports Iraq Higher Education Roadshow to the United States
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
- Rare 1933 Harold Weston painting will be auctioned to benefit the Keene Valley Library
- $20 Million Revenue Target, Accelerating Growth, 7% Of Outstanding Shares Retired, Clear Path Toward Profitability: VSee Health, Inc N A S D A Q: VSEE
- HomeCentris Home Health Achieves 5-Star CMS Rating
- Adsoptia Launches AI-Powered Optimization Platform for a New Era of Autonomous Marketing Decisions
- Longevity Leaders Project to Feature BrainBoosters Ted Teele & Carmen Benavide
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
- Century Fasteners de Mexico Exhibiting at 2026 Farnborough International Airshow
- George Martinez Completes Community Re-distribution Initiative, Returning $5,000 In Campaign Resources To Anchorage Nonprofits
- Spokane City Council Passes One-Year Moratorium on Data Centers
- Mister Omaha Tries The Turf At Lone Star Park
- Andrew D. Levine Releases The Lily Network, an Indian Noir Mystery of Power, Paperwork & Murder
- The Mapping Software Behind America's Viral Maps Just Got Faster and Smarter
- Longevityresearch.ca publishes cross-disease causal analysis quantifying endpoint reduction across 27 diseases
- Joulescope JS320 Launches to Help Engineers Develop Battery-Powered Devices with Greater Confidence
- Ghanaian Afrobeat Artist Praise Kusi Announces Upcoming EP "After 21:00" Releasing July 3, 2026
- TURRENTINE: A Family Legacy United Through Music
- City of Spokane, Spokane Public Schools Partner to Expand Childcare Access
- Save 10 Percent Off Summer Stays at KeysCaribbean Resorts
- CGI Announces Pre-Order Launch for New Integrated Behavioral Health Book
- Prince George's County Students Now Have A Rare Opportunity In TV Film Production Career-readiness
- City of San José Could Lose Access to Millions Under New CalEnviroScreen Tool 5.0
- This Weekend Causeway Cove Country BBQ & Music Festival Returns for Fourth Year, Celebrating America's 250th Anniversary on the Water
- Webtronix Designs Web Agency Launches "LocalFind" to Revolutionize AI Local SEO for Local Businesses
- Christmas Miracle Chronicles - New movie coming up this holiday season !
- Healthi Life, Bangkok's Urban Longevity House, Honoured at Asia-Pacific Awards 2025
- ReviewsAlly Launches Evidence-Based Review Platform for VPNs, Business Software, and Online Services