SEOUL (Reuters) – South Korea’s SK Inc said on Monday it and an affiliate invested $250 million in TerraPower, a U.S. venture founded by billionaire Bill Gates that develops small-sized nuclear power reactors, called small modular reactors.
SK Inc, the holding company of South Korea’s second-largest conglomerate SK Group, said it made the investment with affiliate SK Innovation as part of a total $750 million fundraising round co-led by Gates.
The investment in small modular reactors, which SK said is a competitive carbon-free energy source, goes toward SK Group’s pledge in 2021 to reduce 200 million tons of carbon emissions by 2030, SK said in a statement.
(Reporting by Joyce Lee; editing by Jason Neely)
