Bill Gates-backed nuclear energy firm looking for site for Natrium reactor in Utah

TerraPower, a nuclear energy development company based in Bellevue, Washington, and backed by billionaire Bill Gates, is looking for a spot to put a nuclear power generating plant in Utah. 

In late August, the company signed a memorandum of understanding (MOU) with the Utah Office of Energy Development (OED) and land developer Flagship Cos. to pursue the project.

According to the MOU, the three companies will together search for a potential site suitable for the nuclear reactor and energy storage plant. The goal is to come up with a preliminary list by the end of the year.

TerraPower seeks to build one of its Natrium reactors in the state, which will support Gov. Spencer J. Cox’s Operation Gigawatt, a plan to build an energy ecosystem to serve Utah and other states in the western United States.

Under the agreement, OED, TerraPower and Flagship will jointly identify and assess sites for a potential advanced nuclear plant, with the goal of establishing preliminary site recommendations by the end of 2025. Site selection will be based on an evaluation of a variety of factors, including community support, the physical characteristics of the site, the ability of the site to obtain a license from the U.S. Nuclear Regulatory Commission and access to existing infrastructure.

“Today marks an important step forward for energy in Utah,” said Cox. “Operation Gigawatt is about adding capacity from diverse sources — nuclear, natural gas, geothermal and more — so families and businesses have power that is affordable, reliable and clean. This agreement with TerraPower will help keep rates low, strengthen our grid and ensure Utah’s future can be as strong as our past.”

“Utah must lead in developing energy solutions that are affordable, reliable and clean,” said U.S. Sen. John Curtis. “Exploring advanced nuclear technology aligns with our commitment to energy independence and reflects the kind of forward-thinking policy our state and nation needs.”

“Utah has a proud history of energy innovation, and this agreement positions us to explore next-generation nuclear technology that can help meet our growing power needs while strengthening our energy independence,” said Emy Lesofski, executive director of the Utah Office of Energy Development. “We look forward to working with our local communities, utilities, large energy users and other partners as we identify and evaluate potential sites.”

“TerraPower is excited to collaborate with Utah leaders and communities to explore how Natrium plants can help Utah achieve its economic and energy goals,” said Chris Levesque, president and CEO of TerraPower. “Our Natrium reactor and energy storage system is well-suited for the Mountain West and will play a vital role in ensuring a reliable grid for future generations.”

The Natrium technology features a 345-megawatt, sodium-cooled fast reactor with a molten salt-based energy storage system. The storage technology can boost the system’s output to 500 megawatts of power when needed, as it is designed to keep base output steady, ensuring reliability and can quickly ramp up when demand peaks. It is the only advanced reactor design with this innovative feature, according to TerraPower. The Natrium reactor has the added benefit of using significantly less water than the current light-water reactor fleet and small modular reactor designs, making it well-suited for water-constrained regions like Utah.

TerraPower broke ground on its first Natrium project in 2024 near Kemmerer, Wyoming, and, when commissioned — likely in 2030 — will be America’s next commercial-scale nuclear power plant.

Flagship Cos., a Utah-based land development firm, will provide access to relevant land data and assist in identifying and evaluating potential candidate sites for reactor development.

“We’re proud to be part of a forward-looking initiative that aligns land development with next-generation energy solutions,” said Craig Cannon, a partner at Flagship Cos. “This MOU reflects a model for private-public collaboration in building the infrastructure of the future.”

“The MOU reflects a shared commitment to support advanced nuclear technologies as a cornerstone of Utah’s energy future — prioritizing reliability, economic growth and energy abundance,” a joint statement from the MOU signatories said.

The OED is Utah’s primary energy policy and development agency, supporting resource development, breakthrough research initiatives, workforce training and industry education.

Since it was founded in 2006 by Microsoft founder Bill Gates and a group of like-minded entrepreneurs, 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.