Funding round
TerraPower Growth
Reported as "Growth Equity"
TerraPower, which works in advanced reactor design and development in Bellevue, raised $830M in a Growth round announced on 3 Nov 2022, led by SK Inc.. 3 firms took part. It is TerraPower's second venture round on record; the one before was a Series B in Jun 2010.
$830M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
TerraPower did not disclose a valuation in this round. It came 149 months after TerraPower's Series B. It is 55% of the $1.51B TerraPower has raised in the venture rounds on record. TerraPower raised again 31 months later: a Growth round of $650M in Jun 2025.
Investors
Who put money in
SK Inc. led the round with 2 other firms.
Lead investor
- SK Inc. new investor
Also in the round
- ArcelorMittal new investor
- Korea Shipbuilding and Offshore Engineering new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
23 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $121M, and this round was 6.8 times the median. The closest in time, other companies' Growth rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Renewable energy companies | 1 Nov 2022 | undisclosed | not disclosed | not named |
| SK Innovation E&S Renewable energy companies | 22 Dec 2022 | $576M | not disclosed | not named |
| Shizen Energy Renewable energy companies | 24 Oct 2022 | $470M | not disclosed | La Caisse |
| Renewable energy companies | 24 Oct 2022 | $200M | not disclosed | Energy Spectrum |
| Renewable energy companies | 23 Dec 2022 | $74M | not disclosed | not named |
| EcoCeres Renewable energy companies | 12 Jan 2023 | $400M | not disclosed | Bain Capital Private Equity |
| Renewable energy companies | 27 Sep 2022 | $28M | not disclosed | not named |
| Renewable energy companies | 9 Aug 2022 | $100M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did TerraPower raise in its Growth round?
TerraPower raised $830M in its Growth round, announced in Nov 2022.
Who led TerraPower's Growth round?
SK Inc. led it, with ArcelorMittal and Korea Shipbuilding and Offshore Engineering.
What was TerraPower's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Renewable energy companies?
23 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $121M, and this round was 6.8 times the median.
Did TerraPower raise again after this round?
Yes: a Growth round in Jun 2025 of $650M.