If dollars were votes, newly reintroduced legislation aimed at boosting nuclear energy innovation and advanced reactors would be a winner, thanks to Microsoft co-founder Bill Gates’ strong endorsement today.
The world’s second-richest person is the founder and chairman of Bellevue, Wash.-based TerraPower, a startup that’s working on next-generation nuclear fission reactors. Back in December, Gates listed nuclear energy research as one of his top policy priorities, and he reportedly followed up by promising lawmakers he’d invest $1 billion of his own money and line up another $1 billion in private capital if federal funds were approved for a TerraPower pilot project in the United States.
TerraPower had planned a pilot in China, but trade tensions upset the plan.
During the waning days of the previous congressional session, a bipartisan group in the Senate introduced a measure called the Nuclear Energy Leadership Act, which would promote next-generation nuclear power by boosting research and setting up long-term agreements for federal power purchases from newly licensed reactors.
The bill would require the Department of Energy to demonstrate two advanced reactor concepts by 2025, followed by another two to five concepts by 2035.
That would brighten the outlook for TerraPower as well as other next-gen nuclear power companies such as Oregon-based NuScale Power, which is planning to build a small-scale modular reactor at the Idaho National Laboratory by 2026.
There wasn’t enough time to move the bill out of committee last year — but on Wednesday, the legislation was reintroduced by 15 senators, including Republicans such as Alaska’s Lisa Murkowski and South Carolina’s Lindsey Graham as well as Democrats such as New Jersey’s Cory Booker and West Virginia’s Joe Manchin.
That came as music to Gates’ ears, and today he let the world know on Twitter.