TerraPower

49Mixed / Improving· Provisional

0 followersNuclear / SMR·Bellevue, United States·Founded 2006

www.terrapower.com/

TerraPower, co-founded by Bill Gates, is developing the Natrium sodium-cooled fast reactor with integrated molten-salt thermal storage, currently under construction at the Kemmerer Power Station in Wyoming.

49/100

Mixed / Improving· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: medium

Why it's on ClimateTicker

TerraPower is developing the Natrium sodium-cooled fast reactor — a genuinely zero-carbon power technology that, if successfully commercialized, could displace fossil-fuel baseload generation at scale. The core climate thesis is credible: the technology is carbon-free, dispatchable, and being sited as a direct coal replacement. However, the reactor has not yet generated a single electron of commercial electricity, faces multi-year construction and fuel-supply risks, and no independently verified ESG or climate disclosures exist for the company itself.

mitigationTerraPower is a pre-revenue nuclear technology developer primarily funded by DOE grants (nearly $2 billion via the Advanced Reactor Demonstration Program), Bill Gates, and strategic investors; it expects to earn revenue through power-purchase and technology-licensing agreements once the Kemmerer plant is operational, currently targeted for 2030.

Controversy & Greenwashing Watch

mediumSignificant Schedule Slippage vs. DOE Original Targets

The Natrium demonstration reactor's operational date has slipped 5-7 years beyond DOE's original 2025-2027 target, raising execution-risk concerns for investors despite recent construction progress.source ↗

lowHALEU Supply Sourced from South Africa Facility — Unproven Pathway

TerraPower is financing a new HALEU enrichment facility in Pelindaba, South Africa via a $22M loan to ASP Isotopes, with first-fuel delivery targeted for 2027/28 — an unproven supply chain for a first-of-kind reactor.source ↗

mediumHALEU Fuel Supply Chain Failure — Russia Dependency

TerraPower originally planned to source its specialist HALEU fuel from Russia; the Ukraine war cut off that supply, forcing a multi-year project delay and exposing a critical due-diligence gap in fuel-chain planning.source ↗

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