September 24, 2025 agreement between TerraPower, Evergy, and the State of Kansas to explore advanced nuclear energy deployment in Kansas. Adds Kansas to TerraPower's "next markets" pursuit list (alongside Utah, the UK, and emerging interest from data center customers).
TerraPower's second business line — produces medical isotopes including Actinium-225 for targeted alpha therapy cancer treatment. March 18, 2026: Selected Philadelphia for $450M medical isotope production facility. Critical context: this is TerraPower's FIRST commercial revenue line, providing cash flow ahead of Natrium commercial operation in 2031.
October 28, 2025 — TerraPower formally submitted Natrium reactor and energy storage system into the UK GDA process managed by the Office of Nuclear Regulation. Eric Williams: "We think there is excellent market potential there. The Natrium plant provides energy storage with its molten salt storage system that's really attractive for balancing swings in the electric power grid."
January 9, 2026 agreement — Meta's largest single nuclear deal to date. Up to 8 Natrium units totaling 2.8 GW (or up to 4 GW with energy storage). Meta funding initial development of the first two units, with rights for energy from up to 6 additional units. First two units anticipated online as early as 2032. Meta selected TerraPower from a competitive nuclear RFP process. Levesque: "It's defining our order book."
TerraPower's flagship project — held by wholly owned subsidiary US SFR Owner LLC (USO). NRC issued Part 50 construction permit March 4, 2026 (first commercial reactor permit in nearly a decade; first non-LWR commercial permit in 40+ years). Construction officially started April 23, 2026 at the site near PacifiCorp's retiring Naughton coal plant. Timeline: pour first nuclear-related concrete 2027 → submit Part 50 operating license application 2028 → load fuel 2030 → commercial operation 2031. NRC granted four exemptions: HALEU fuel handling/criticality, emergency core cooling analysis, financial qualifications, NEI 18-04 safety classification process. NRC review completed in 18 months — 9 months ahead of schedule, 11% under budget.
TerraPower's flagship reactor, jointly designed with GE Hitachi Nuclear Energy. 345 MWe sodium-cooled fast reactor (840 MWt pool-type, metal-fueled). Paired with patented molten salt thermal energy storage system that can quickly boost output to 500 MWe for 5.5+ hours — the only advanced reactor design with this peaking capability. Integrated to support grids with high variable renewables. Architectural breakthrough: nuclear island and energy island are physically separated, so two-thirds of the plant falls under Wyoming state jurisdiction rather than NRC — accelerated licensing.
Initial DOE Advanced Reactor Demonstration Program selection award, October 2020 — selected as one of two ARDP awardees alongside X-energy. The $80M is an early installment of the broader DOE ARDP commitment (up to $2B total cost-share, 50/50 split). Funds Kemmerer Unit 1 demonstration project licensing, construction, and operation.
DOE ARDP total cost-share commitment to support Natrium reactor demonstration through licensing, construction, and operation. Supports Kemmerer Unit 1 specifically. Structured as up to 50% cost-share matched by TerraPower private capital.
August 2022 first phase of TerraPower's $830M equity raise (largest private raise among advanced nuclear companies at the time). Co-led by SK Inc + SK Innovation and TerraPower founder Bill Gates. Brought 2022 valuation to $3.8B.
November 2022 second phase that completed the 2022 $830M raise (the August $750M first phase + this $80M = $830M total — largest private raise in advanced nuclear at the time). New investors: ArcelorMittal (via XCarb Innovation Fund) — invested $25M, with steel decarbonization motivation; Korea Shipbuilding & Offshore Engineering (Hyundai Heavy intermediate holding company).
June 2025 Series D round including new and existing investors. NVIDIA's NVentures arm participated for the first time — signaling growing AI-data-center / nuclear convergence. Funds the Kemmerer Unit 1 buildout. Brings cumulative TerraPower equity raise to ~$1.52B (approximately 8 rounds since 2008).