The leading Korean nuclear utility joins SK in investing in the U.S.-based advanced nuclear company
BELLEVUE, Wash., Jan. 20, 2026 /PRNewswire/ — TerraPower announced today that Korea Hydro & Nuclear Power (KHNP) has joined SK as part of the company’s visionary investor base, marking KHNP’s first investment into an advanced nuclear company.
KHNP is a global leader in building and operating nuclear plants, and TerraPower is leading the advanced nuclear industry to market with its flagship Natrium® technology¹ – an advanced nuclear reactor paired with a gigawatt-scale energy storage system. KHNP joins TerraPower’s current investors in supporting the first Natrium plant being built in Wyoming, along with the company’s plans to rapidly deploy additional units in the U.S. and abroad. This investment will accelerate ongoing efforts to explore both South Korean and other opportunities.
“We have strong relationships with multiple Korean entities across the nuclear energy supply chain, and today’s announcement is one more step to realizing the Natrium technology’s promise to deliver next generation nuclear power not just in the United States, but around the world,” said Chris Levesque, TerraPower president and CEO. “TerraPower, SK and KHNP have been advancing our strategic collaboration for years, and I’m proud to add KHNP to our committed investor base.”
Park In-sik, Executive Vice President and Head of the Export Business Division at KHNP, said, “This investment is a major milestone for KHNP in supporting the global deployment of next-generation nuclear energy. By combining our 50 years of experience in nuclear plant construction and operation with SK Innovation’s competitiveness in energy and TerraPower’s technology, we will play a leading role in expanding the advanced nuclear market. The three companies plan to sign definitive commercialization agreements this year to establish a foundation for global projects.”
Moohwan Kim, Executive Vice President and Head of Energy Solution Business Division at SK Innovation added, “KHNP’s investment in TerraPower solidifies our three-way collaboration in the global advanced nuclear business. SK Innovation will work closely with KHNP to support the Wyoming project, pursue new nuclear opportunities, and achieve innovative outcomes including localization of key materials and components.”
KHNP’s investment will be through SK’s previously announced $250 million investment into TerraPower. KHNP and TerraPower successfully completed the U.S. Committee on Foreign Investment (CFIUS) review process in December 2025. The three companies have been working together since 2023 under a strategic collaboration agreement.
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About TerraPower
TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement, and other cutting-edge opportunities. It accepts and tackles some of the world’s most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world’s public and private sectors to answer pressing global needs. Learn more at terrapower.com.
¹Natrium reactor is a TerraPower and GE Vernova Hitachi Nuclear energy technology
SOURCE TerraPower