TerraPower-China nuclear deal collapses under U.S. export restrictions
The U.S. Department of Energy tightened restrictions on civilian nuclear technology cooperation with China in 2018-2019, forcing TerraPower to abandon its agreement with the China National Nuclear Corporation to build the Traveling Wave Reactor demonstration plant. Gates publicly described the collapse as a significant setback that forced TerraPower to pivot to the United States as its demonstration site, eventually leading to the Natrium reactor project in Kemmerer, Wyoming. The episode highlighted the tension between commercial logic and U.S. national security concerns regarding advanced nuclear technology cooperation with China.
Source: https://www.chinadaily.com.cn/a/201911/22/WS5dd774d7a310cf3e35579598.html
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March 2025
Breakthrough Energy Ventures Invests in Savor — Butter Made Directly from Carbon
Breakthrough Energy Ventures backed Savor, a startup that produces butter using carbon dioxide and hydrogen — derived from atmospheric carbon and water — without any conventional agriculture, animals, or farmland. Savor's thermochemical process generates saturated fat with an identical molecular profile to dairy butter while using an estimated 99.9 percent less water and zero agricultural land. The product launched at Michelin-starred restaurants in 2025, with supermarket availability targeted for 2027, as part of Gates's broader bet on food-system decarbonisation.
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Breakthrough Energy Catalyst — Gates's industrial decarbonisation investment vehicle — committed $40 million to Deep Sky, a Quebec-based company developing commercial direct air capture facilities across Canada. The investment marked Catalyst's first in the DAC sector. Deep Sky's Alpha facility in Alberta is designed as a testing ground for multiple next-generation carbon removal technologies, with the goal of proving the cost trajectory needed to make DAC viable at planetary scale.
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