Bill Gates is making big changes in the small town of Kemmerer, Wyoming, with a population of just about 2,400. Gates’ company TerraPower has started building what he calls “the most advanced nuclear facility in the world” in this tiny community.

This will be the first of the so-called Natrium plants, which promise to be safer, cheaper, and more efficient than traditional nuclear power plants. It is a groundbreaking project expected to provide clean, zero-carbon energy.

Kemmerer, a town once known for its coal plant, is transforming into a center for next-generation nuclear technology. The project will provide jobs to 1,600 skilled workers and boost the local economy, with new businesses and housing developments emerging to support the growing community. It is a huge transformation for a town that relied on coal for so long. As Gates said on his blog, “It’s a huge milestone for the local economy, America’s energy independence, and the fight against climate change.”

Gates is rethinking how nuclear power is generated and believes that the Natrium plant will revolutionize the energy landscape in the U.S. and worldwide. The plant, designed by TerraPower, a company he founded in 2008, is expected to start operating by 2030.

The TerraPower project in Kemmerer is notable for its advanced technology and cost efficiency compared to recent projects. For example, Georgia’s Plant Vogtle, which recently expanded from two to four reactors, cost nearly $35 billion, including $11 billion in overruns. In contrast, the TerraPower project is expected to cost up to $4 billion, with half funded by the U.S. Department of Energy.

But Gates isn’t stopping at nuclear power. His energy investment firm, Breakthrough Energy Ventures, backed by other big names like Jeff Bezos, Michael Bloomberg, and Richard Branson, has just raised $839 million for a new climate fund called BEV III. This fund is part of Gates’ bigger plan to invest in technologies that can drastically cut greenhouse gas emissions. The fund will focus on five main areas: electricity, transportation, manufacturing, buildings, and food and agriculture.

Gates, who was the richest person in the world from 1995 to 2017, has been focusing on philanthropy, particularly vaccines, clean water, and sustainability. Due to these and other initiatives, he’s often in the spotlight and occasionally at the center of controversy.