More big-tech billionaires backing next-gen nuclear startups.
There are different reasons that nuclear energy and startup funding is soaring this year.
The key reason is the Ukraine war.
Dependency on Russian oil is now showing its downside.
Energy prices are going to the moon.
I am fueling now my car for more than $100 every time which is crazy.
Governments around the world are now trying to keep the lights on with nuclear energy.
Japan is considering building new reactors and restarting ones that had been shuttered following the Fukushima nuclear crisis.
The UK, the Czech Republic, and Poland all have plans to build new reactors in the coming years. France has proposed building 14.
The efficiency of nuclear power is also enticing for countries looking to meet UN emissions targets.
Plus, it is cool.
On the other side, the trend in Silicon Valley is no longer software.
It is nuclear.
The trend of big-tech billionaires of Silicon Valley investing in next-generation nuclear energy startup companies continues.
Bill Gates, Jeff Bezos, and Peter Thiel have opened their wallets to back next-generation nuclear companies.
Although Bezos wants to buy Mcdonalds' too.
Joking aside, Google and Chevron invest in a nuclear fusion startup that’s raised $1.2 billion.
Also, the hot discussion is that technology to shrink nuclear plants could help bring down costs.
Nuclear power startup Newcleo raised 300 million euros ($315 million) to help the company develop its technology for its first pilot projects in France and the UK.
How economical nuclear reactors are?
Let's compare a nuclear plant with a natural gas power plant.
In terms of capital, you need about $5bn to build a nuclear plant.
For natural gas, you may need $1bn.
Still a lot of money but way less needed to go natural gas.
For fuel, to enrich Uranium you need $64M.
Natural gas, $450M.
Now, let's have a look at the time to construct.
For a nuclear plant, we are talking about 6 years.
Versus natural gas which is 2 years.
So, we need to consider the carried interest of the capital during this timeline.
These are interesting stats to consider.
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