Bellevue, Wash., October 2, 2017 –
TerraPower, LLC signed a joint venture with China National Nuclear Corporation (CNNC) to form the Global Innovation Nuclear Energy Technology Co., Ltd. This agreement represents a significant milestone for TerraPower and CNNC’s affiliate, China Tianjin TWR Investment Company (“CTTIC”), in ongoing discussions made possible under policies and agreements for cooperation by the governments of the United States and China.
The two companies plan to work together to complete the Traveling Wave Reactor (TWR) design and commercialize the TWR technology. Cooperation between TerraPower and CNNC will speed technology development and promote clean energy growth. “Today, this joint venture represents our first step on a journey that promises to yield tremendous benefits for all of us,” said Lee McIntire, TerraPower CEO. “The TerraPower-CNNC collaboration on advanced nuclear technology aims to benefit the world by pioneering new options in civilian nuclear energy that address safety, environmental and cost concerns.”