Energy Economy

15 Aug 2022

South Korea’s SK Invests $250 Mln in Bill Gates’ Terrapower for Nuclear Power Tech

15 Aug 2022  by   

The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji

South Korea's SK Inc said on Monday it and an affiliate invested $250 million in TerraPower, a U.S. venture founded by billionaire Bill Gates that develops small-sized nuclear power reactors, called small modular reactors.

SK Inc, the holding company of South Korea's second-largest conglomerate SK Group, said it made the investment with affiliate SK Innovation as part of a total $750 million fundraising round co-led by Gates.

The investment in small modular reactors, which SK said is a competitive carbon-free energy source, goes toward SK Group's pledge in 2021 to reduce 200 million tons of carbon emissions by 2030, SK said in a statement.


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