NRC Approval for TerraPower’s Natrium Reactor Signals Major Breakthrough for Advanced Nuclear

The U.S. Nuclear Regulatory Commission has officially granted a construction permit to Bill Gates-backed TerraPower for its Natrium reactor in Kemmerer, Wyoming, marking one of the most significant regulatory milestones for advanced nuclear in the U.S. in years. This is the first commercial-scale advanced reactor design to clear the full construction permitting process in nearly a decade, and it materially de-risks the broader small modular and next-generation reactor category from a regulatory standpoint. The 345 MW sodium-cooled fast reactor, which can ramp to 500 MW using integrated molten salt energy storage, is being built at the site of a retiring coal plant- reinforcing the narrative that advanced nuclear can directly replace fossil baseload while providing grid stability. The project is supported by the U.S. Department of Energy’s Advanced Reactor Demonstration Program and strategic capital partners, and construction is expected to begin soon with a target completion around 2030. While TerraPower itself is privately held, this approval is broadly bullish for the entire advanced nuclear ecosystem. Regulatory precedent matters. Every successful review shortens perceived timelines, lowers financing risk, and strengthens the investment case for similar reactor developers and supply chain participants. In a market increasingly focused on power demand from AI data centers, industrial electrification, and energy security, this milestone adds tangible momentum to the sector’s credibility. For publicly traded advanced nuclear and uranium names, this is another proof point that next-generation nuclear is moving from concept to execution. https://www.bloomberg.com/news/articles/2026-03-04/bill-gates-backed-terrapower-wins-us-approval-for-wyoming-nuclear-reactor?embedded-checkout=true