Microsoft co-founder Bill Gates is working on a venture to develop a revolutionary nuclear reactor. This nuclear reactor will produce less radioactive waste compared to existing ones. The Korean Nuclear Society (KNS) has agreed to cooperate in the development of this nuclear reactor. The other party in the joint research effort would be a nuclear power venture company named TerraPower, in which Bill Gates has prior investments.
Terrapower was formed in 2007 by Intellectual Ventures, and received an investment from Bill Gates in 2010. The famed business person, once the richest man in the world, backed TerraPower when it was in discussion with the Chinese government to develop a new kind of nuclear reactor that can run on depleted uranium.
Now, Gates is backing TerraPower in a joint venture with KNS. Gates met the head of the Korean Nuclear Society, Chang Soon-heung, in Seattle on Thursday. The KNS agreed to cooperate in the development with TerraPower.
This new nuclear reactor will be a sodium-cooled fast reactor.They are said to be next generation of nuclear technology that can use waste nuclear rods from conventional nuclear reactors.