Original investors Gates and Waltham, Massachusetts-based venture capital firm Charles River venture (CRV), and new investor Khosla Ventures participated in the latest Series B round, Izhar Armony, general partner with CRV said in an interview on Monday. TerraPower is a nuclear spin-off project from Bellevue, Washington-based incubator thinker Ventures, which is run by former Microsoft chief technology officer Nathan Myhrvold.
"We have been an depositor s since it was just an invention, an idea," Armony said. "The company has had enormous progress and we feel it is time to put more ood behind the arrow, so to speak, to really allow them to accelerate development." Tarra is working to develop so-called traveling-wave reactors, which would use depleted uranium as fuels and have the potential to run up to 100 years without refueling.
Current nuclear reactors use enriched uranium, requires everyday refueling and produce a lot of waste. Concerns about global warming and efforts to reduces carbon emissions have sparked renewed interest in nuclear energy as a clean fuel, but the impenetrability of disposing of spent uranium and fear of accidents have made the technology controversial.
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