March 24, 2010
Bellevue, Wash.— March 24, 2010 — Executives and investors from TerraPower, a nuclear energy company managed by Intellectual Ventures Management, LLC, continue to meet with a variety of U.S. and international organizations and governments to listen, learn and discuss future options for the company’s Traveling Wave Reactor (TWR) design. The company has not entered into agreements with any companies to build or operate the TWR at this time.
Nathan Myhrvold, founder and CEO of Intellectual Ventures explained, “The TWR is in the research and development phase. These information-gathering meetings are part of our efforts to learn from existing technologies and the best engineering practices worldwide,” he said.
The TWR is an advanced nuclear reactor design. Bill Gates is one of several TerraPower investors and has attended some of these information-gathering meetings with other TerraPower officials.
About Intellectual Ventures
Intellectual Ventures (IV) is the leader in the business of invention. While venture capitalists and private equity investors typically seek out existing ideas and companies for investment opportunities, IV focuses on funding the creation of new inventions and introducing new models for monetizing invention as a stand-alone asset. IV conceives and patents original inventions, invests in the inventions of others, and partners with select university and research labs. IV works on a global scale and across more than 30 technology areas including: hardware, software, consumer electronics, digital imaging, medical devices and energy. With $5 billion under management and more than 30,000 invention assets, IV has become one of the most prolific invention organizations in the world.
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