Trending...
- Tacoma: Statement from District 4 Council Member Sandesh Sadalge on the Critical Importance of Centering Equity in Regional Transit Decisions
- Seattle Filmmaker Maikaru Launches Mainasty Press with Ambitious "21 Novels in 21 Months" Initiative
- Uxur Taxi Unveils Luxury 3,000‑Mile Private Driver Service for Nationwide Travel
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: Abor Day Celebration 2026
- Spokane Launches 'Summer of Soccer' Community Campaign
- Project Pretzel Introduces a New System for Running Renovation Projects with Built In Contracts and Real Time Execution
- Holistic Animal Wellness Expert Vicki Draper Releases Ebook to Help Pet Parents Reduce Anxiety and Create Calm Homes
- Spokane: Proposal Seeks to Advance Affordable Housing Projects Through Targeted TIF Investment
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
- Freedomtech Solutions creates 'Global Data Centre Network (IDCN)'
- Dual-Engine Growth Strategy Ignited: AI Infrastructure Breakout Meets Scalable Circular Economy Expansion: Marwynn Holdings, Inc. (N A S D A Q: MWYN)
- Super Bowl Champion Marvel Smith Inspires Launch of MVP-IQ Platform to Help Football Players Develop and Get Recruited Like the Pros
- The Future of Classic Cars in a World Moving Beyond Gasoline: How Electric Conversion Is Saving America's Automotive Heritage
- Tacoma: Pothole Palooza Returns May 4 – 15 to Focus on Maintenance and Preservation of 10 Arterial Roadways
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
- Captain Notepad Launches Full-Service Direct Mail Platform for Small Businesses Nationwide
- World Cup Buzz Fuels Nayarit's Rise as Mexico's Pacific Standout
- Nayarit strengthens its position in Mexico's Culinary Elite with 8 restaurants in the 2026 Mexico Gastronomic Guide
- Winter Garden Ski Lake Home Sells for $2.05M in Cash Transaction, Highlighting Demand for Strategically Positioned Luxury Properties
- Strobert Tree Services' "50 Shades of Green" Campaign Encourages Arbor Day Action Across Delaware and Pennsylvania
- As Fluoride Debate Grips the Nation, Americans Turn to Whole-House Fluoride Filters for Answers
- FOCUS Hires Carrier-Side Operations Leader to Build the Next Generation of Insurance Service Delivery
- Adams Security Group LLC Launches New Website to Expand Professional Security Services Across Florida
- Presidential Acceleration of Psychedelic Therapies Enters a Defining Moment as Federal Policy, FDA Alignment & Breakthrough Neurotechnology Converge
- Peernovation And Inception Stratos Launch Joint Venture To Build A Global Peer-powered Performance Platform
- GDE Tree Services Expands Operations Across Logan, Ipswich and the Gold Coast
- UK AltNet FullFibre Solves IPv4 Shortage With netElastic BNG And CGNAT Networking Software
- Tacoma: Applicants Sought for the Equity in Contracting Advisory Committee
- Tacoma: Hylebos Bridge Closed to Vehicular Traffic
- Studica Robotics Receives 2026 Partner Excellence Award from FIRST® Robotics Canada
- Seven Games That Make You Think (and Smile) Earn 2026 Mensa Select® Honors
- The Ramen Rater Unveils Top Ten Instant Noodles Of All Time – 2026 Edition
- New Research Reveals Gen Z Trusts Independent Sources Over Influencers — Exposing What We are Talker Calls "The Independent Validation Gap"
- City of Tacoma's Public Works Department Recognized by American Public Works Association
- New research identifies The Discovery Gap: Seven in 10 Americans say travel is no longer just about getting away