Bill Gates’ nuclear innovation company, TerraPower, announced Monday it has secured at least $750 million in new funding.
The funding was co-led by Gates and SK. Gates is the founder and chairman of TerraPower. SK, one of South Korea’s largest energy providers, invested $250 million.
The money will be used to develop nuclear energy technology and innovations in nuclear medicine, according to a statement from TerraPower.
“Whether it’s addressing climate change with carbon-free advanced nuclear energy, or fighting cancer with nuclear isotopes, our team is deploying technology solutions and investors across the world are taking note,” Chris Levesque, the CEO of TerraPower, said in a statement.