Thanks to Rod Adams for this update. Charles River Ventures and Vinod Khosla are more strength to the Bill Gates-backed nuclear startup:
TerraPower is working on the detailed design for a Traveling Wave Reactor that can effectively convert and consume actinide isotopes that are often considered to be waste products in a traditional light water reactor. The company was spun out of Nathan Myhrvold’s Intellectual Ventures after the team’s design progress attracted the attention of Bill Gates and Massachusetts-based venture capital firm Charles River Ventures (CRV).
The latest Series B round of financing, which added $35 million to the company’s resource base, attracted Khosla Ventures as a new partner. It is refreshing to see that the company’s progress has been favorably reviewed by people who are risking private capital based on their expectations of success and a return on their investment. Of course, it never hurts to have names like Gates, Myhrvold and now Khosla associated with your developing company.
Rod has several tips for following developments at the American Nuclear Society annual meeting. Read more »
And more at GreenTechMedia.
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