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Daily Cover StoryBret Kugelmass of Last Energy aims to build his first 10 inexpensive, off-the-shelf fission reactors in eastern Europe.
We’re talking old-fashioned fission technology here—the kind that for decades has been used to generate energy by splitting uranium atoms apart. Kuglemass looks to smooth out the process by avoiding U.S. regulators, and isn’t even asking for American approval of his plants. Instead, hopes to have his first 20-megawatt reactor up and running by 2025 in Poland, which has been getting 70% of its power from burning coal since Russian natural gas supplies were cut off.
Kugelmass aims to build 10,000 of these mini-reactors worldwide, which sounds fantastical for a nuclear industry newbie who has so far raised just $24 million in venture capital. Last Energy is also hardly the only startup aiming to build a new generation of smaller reactors. Deep-pocketed competitors include TerraPower, a joint venture between Bill Gates and Warren Buffett’s Berkshire Hathaway.“The world desperately needs more reliable sources of zero-carbon electricity, which small-scale nuclear can provide at a tiny fraction of the land use,”
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